SF Holdings: The cooperation with Jitu Express will better utilize the complementary advantages of SF's cross-border trunk line and Jitu's overseas end capabilities.

SF Holdings announced that the company has reached an important strategic cooperation with FlashEx, and both parties will subscribe for each other's new shares issued, further deepening their strategic partnership. SF Holdings will collectively hold 10% of FlashEx's shares, while FlashEx will hold 4.29% of SF Holdings' shares. Both parties' shares will be subject to a 5-year lock-up period. FlashEx, as a global express service operator, has achieved rapid development in e-commerce express business in multiple countries, especially accumulated deep localized operation experience and solid network infrastructure in Southeast Asia market, and further expanded to emerging markets such as Latin America and the Middle East. Through this cooperation, both parties will better utilize SF Holdings' advantages in cross-border trunk lines and FlashEx's advantages in overseas end capabilities for complementation.