ZTO Express (Cayman) (NYSE:ZTO) Trading Up 7.7%

ZTO Express (NYSE:ZTO) is a leading express delivery company in China that operates through its subsidiaries and affiliates. The company's core business involves providing domestic and international express delivery services, including air and ocean freight forwarding, warehousing, and distribution.

On July 15, 2021, ZTO Express announced that its Class A common stock had begun trading on the New York Stock Exchange (NYSE) under the symbol "ZTO." The company had previously traded on the NASDAQ Global Select Market under the symbol "ZTO."

The announcement stated that the company's decision to move its listing from the NASDAQ to the NYSE was driven by a desire to increase its visibility and liquidity in the US capital markets. The company believes that trading on the NYSE will provide it with greater access to institutional investors and enhance its overall brand recognition.

In addition to the trading upgrade, ZTO Express also announced that its Class A common stock had increased in price by approximately 7.7% from its previous closing price of $102.59 per share on July 14, 2021, to a new high of $110.86 per share on July 15, 2021.

Overall, ZTO Express's trading upgrade and stock price increase reflect the company's strong financial performance and growing market presence in China and beyond. The company has consistently delivered strong revenue growth and profitability over the past several years, driven by its focus on expanding its network and improving operational efficiency.