Chinanews.com, March 3rd. On March 2nd local time, the US short-selling agency Grizzly Research (Grizzly Bear) released a report saying that ZTO Express may falsify financial statement data.
ZTO Express issued an announcement in response, saying, “The report has no basis, it contains many errors, unfounded speculations, and misleading conclusions and interpretations. It also lacks a basic understanding of the company’s business model and financial reporting structure, and lacks disclosure of the company’s A comprehensive interpretation of the document."
The picture shows the announcement of ZTO Express
ZTO Express said the company's board of directors, including the audit committee, is reviewing the allegations and considering taking appropriate actions to protect the interests of all shareholders.
The company will make further disclosures in due course in accordance with the requirements of the applicable rules and regulations of the US Securities and Exchange Commission, the New York Stock Exchange and the Stock Exchange of Hong Kong Limited.
(China New Finance and Economics)