SF Express: Subsidiary to Acquire 100% Equity of Jieyang Chuanyun and Chengdu Chuanshen for 280 Million Yuan

People’s Financial News, March 16 — Shentong Express (002468) announced on March 16 that its subsidiary Shanghai Daten Shen Technology Co., Ltd. (referred to as “Daten Shen”) plans to acquire 100% equity of Jieyang Chuan Yun Internet of Things Technology Co., Ltd. (referred to as “Jieyang Chuan Yun”) and Chengdu Chuan Shen Internet of Things Technology Co., Ltd. (referred to as “Chengdu Chuan Shen”) held by Zhejiang Cainiao Supply Chain Management Co., Ltd. (referred to as “Zhejiang Cainiao”) in cash. The transaction price is 280 million yuan. The counterparty is an affiliated party of the company, and this transaction constitutes an associated transaction but does not constitute a major asset restructuring. Jieyang is one of the important grain-producing areas for express delivery, and Jianyang is also a key node for express logistics in Southwest China. Improving the regional transfer network layout is of strategic importance for the company to expand its local market scale. The acquisition targets, Jieyang Chuan Yun and Chengdu Chuan Shen, operate highly customized warehousing and logistics centers in their respective locations, covering approximately 150 acres and 130 acres respectively, with certain regional resource scarcity.