? YTO is 1st Chinese courier to get listed - ResearchInChina

                                                                                                                                  YTO is 1st Chinese courier to get listed

                                                                                                                                     Date:2016/10/21

                                                                                                                                  SHANGHAI-BASED YTO Express became China’s first courier firm to debut on the Shanghai Stock Exchange yesterday.

                                                                                                                                  Alibaba-backed YTO Express seeks capital to expand its aircraft fleet as well as develop new technologies to stay competitive during China’s e-commerce boom, Chairman Yu Weijiao said, adding that the company now operates five cargo aircraft and plans to expand the fleet to 50 by 2020.

                                                                                                                                  YTO Express handled over 3 billion parcels in 2015, a surge of 63 percent year on year. The firm predicted its net profit at 1.1 billion yuan (US$163 million) this year.

                                                                                                                                  Shares of YTO Express fell 4 percent to close at 34.60 yuan (US$5.14).

                                                                                                                                  YTO Express made a backdoor A-share listing via a reverse merger with Chinese garment maker Dalian Dayang Trands Co early this year and changed the stock name to YTO Express.

                                                                                                                                  Separately, SF Express has announced a plan to list via a 43.3 billion yuan reverse takeover. It plans to merge with Shenzhen-listed Dingtai Rare Earth and New Materials via an asset swap, and use it as a shell company to list on the bourse.

                                                                                                                                  Source:Shanghai Daily

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