Shulou(Shulou.com)11/24 Report--

CTOnews.com December 23 news, Zhongtong Express issued an announcement saying that the company has applied to the Hong Kong Stock Exchange for the main listing conversion, and the company has received confirmation of receipt from the Hong Kong Stock Exchange for the main listing conversion application; previously it was the second listing. The effective date is expected to be 1 May 2023, subject to approval by the Hong Kong Stock Exchange. Upon the primary listing conversion becoming effective, the Company will have dual primary listing on the Hong Kong Stock Exchange in Hong Kong and the New York Stock Exchange in the United States.

Upon the Major Conversion, the Company will become a dual-listed company on the Main Board of the Hong Kong Stock Exchange and the New York Stock Exchange, and its Class A Common Shares and American Depositary Shares will continue to be traded separately on the two stock exchanges (as the case may be) and will be convertible into each other.

CTOnews.com learned that in November this year, Zhongtong Express released unaudited financial results for the third quarter of fiscal year 2022 ending September 30. According to the report, Zhongtong Express 'third-quarter revenue was 8.9449 billion yuan (US$1.2575 billion), up 21.0% from 7.3907 billion yuan a year earlier; net profit was 1.8955 billion yuan (about 266.5 million US dollars), an increase of 65.1% compared with the net profit of 1.1479 billion yuan in the same period last year. Basic and diluted earnings per American depositary share attributable to ordinary shareholders were 2.39 yuan ($0.34) and 2.37 yuan ($0.33), respectively, compared with 1.43 yuan for the same period last year, up 67.1% and 65.7%, respectively.

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