顺丰控股（002352）(06936)发布公告，该公司于2026年1月16日斥资5211.74万元人民币回购134.13万股 A股，每股回购价格为38.74-38.93元人民币。 ...

格隆汇1月16日丨顺丰控股(06936.HK)发布公告，2026年1月16日耗资人民币5211.74万元回购134.13万股 A股，回购价格每股38.74-38.93元。 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 順豐控股股份有限公司（於中華人民共和國註冊成立的股份有限公司） 呈交日期： 2026年1月16日 FF305 FF305 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | A | 於香港聯交所上市 | 否 | | | 證券代號 (如上市) | 002352 | 說明 | A股（於深圳交易所上市） | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | 庫存股份變動 | | | | | 事 ...

Summary of SF Holding and J&T Express Strategic Cooperation Conference Call Company and Industry Involved - **Company**: SF Holding (顺丰控股) - **Partner**: J&T Express (极兔速递) - **Industry**: Logistics and Express Delivery Core Points and Arguments - **Strategic Shareholding**: SF Holding and J&T Express have established a strategic partnership through mutual shareholding, with SF holding 10% of J&T and J&T holding 4.29% of SF, both with a five-year lock-up period. This aims to enhance resource sharing and explore global logistics network collaboration [2][3] - **Global Coverage Strategy**: SF's decision to partner with J&T instead of building its own overseas network is aimed at optimizing resource allocation and accelerating global coverage, thereby deepening its globalization strategy [2][6] - **Operational Efficiency**: The partnership is expected to improve operational efficiency and customer satisfaction, with both companies leveraging each other's networks for enhanced service delivery [2][4] - **International Business Cooperation**: The collaboration will focus on international business, utilizing SF's cross-border resources and J&T's overseas delivery network to provide integrated logistics services [2][8] - **End-to-End Fulfillment Network**: The partnership aims to build a stable end-to-end fulfillment network to optimize inventory efficiency and enhance delivery timeliness [2][9] Additional Important Content - **Board Representation**: J&T has committed to nominating a candidate to SF's board, contingent on SF maintaining at least 8% ownership in J&T, to ensure effective implementation of the partnership [3][4] - **Investment in Infrastructure**: Both companies plan to invest jointly in key infrastructure to create a more efficient and resilient fulfillment system, benefiting Chinese enterprises going global [5] - **Domestic and International Synergies**: SF will open its domestic delivery network to J&T, while J&T will help SF expand its model internationally, enhancing operational efficiency and customer experience [10][11] - **Future Growth Expectations**: While specific figures for future cooperation scale are not provided, the collaboration is expected to extend beyond Southeast Asia to Europe and South America, enhancing customer experience and operational efficiency [13] - **Positive EPS Impact**: The transaction is anticipated to have a positive effect on SF's earnings per share (EPS) based on market expectations for J&T's performance and the synergy effects of their collaboration [14] - **Timing of Cooperation**: The timing for this strategic cooperation is deemed optimal due to previous successful collaborations and the established rapport between the two companies [15]

Core Viewpoint - Zhongyou Securities expresses optimism about the business collaboration between SF Express and Jitu Express following their cross-shareholding, which is expected to enhance the logistics capabilities of Chinese companies in the global market [1] Group 1: Cross-Shareholding Details - SF Express plans to issue 226 million H-shares to Jitu Express at HKD 36.74 per share, representing approximately 4.29% of SF Express's total share capital post-issuance [2] - Jitu Express intends to issue 822 million Class B shares to SF Express at HKD 10.10 per share, accounting for about 8.45% of Jitu Express's total share capital post-issuance; combined with SF Express's existing holdings, it is expected that SF Express will hold around 10.00% of Jitu Express's total share capital after the issuance [2] Group 2: Strengths and Market Position - SF Express is the largest logistics service provider in Asia and the fourth largest globally, with significant international and supply chain business revenue of CNY 65.79 billion, reflecting a year-on-year growth of 3.5% for the first 11 months of 2025 [3] - Jitu Express has rapidly expanded in overseas markets, particularly in Southeast Asia, achieving a volume of 7.66 billion parcels in 2025, with a year-on-year growth of 67.8%; its market share in Southeast Asia exceeded 30% in the first half of 2025 [3] Group 3: Future Collaboration Potential - The successful implementation of cross-shareholding is expected to facilitate deep cooperation in the cross-border logistics market, leveraging SF Express's trunk resource advantages and Jitu's end-network strengths to enhance service quality and stability [4] - This collaboration aligns with China's "14th Five-Year Plan" goal of improving international delivery service capabilities, particularly in enhancing the "trunk-transfer-warehouse-distribution" capacity [4]

Group 1 - Core viewpoint: Zhongyou Securities is optimistic about the business collaboration between SF Express and Jitu Express following their cross-shareholding, which is expected to enhance the logistics capabilities of Chinese enterprises in the global market [1][2] - SF Express plans to issue 226 million H-shares at HKD 36.74 per share to Jitu Express, representing approximately 4.29% of its total share capital post-issuance; Jitu Express will issue 822 million B-shares at HKD 10.10 per share to SF Express, accounting for about 8.45% of its total share capital post-issuance [2] Group 2 - SF Express is the largest logistics service provider in Asia and the fourth largest globally, with significant international and supply chain business revenue of CNY 65.79 billion, a year-on-year increase of 3.5% for the first 11 months of 2025 [3] - Jitu Express has rapidly expanded in Southeast Asia, achieving a volume of 7.66 billion parcels in the region, a year-on-year growth of 67.8%, and over 30% market share in Southeast Asia as of the first half of 2025 [3] - The collaboration between SF Express and Jitu Express is expected to leverage their respective strengths in cross-border logistics, enhancing service quality and operational efficiency, aligning with China's "14th Five-Year Plan" goals to improve international delivery capabilities [4]

Core Viewpoint - SF Holding Co., Ltd. has announced the approval of a significant investment in J&T Global Express Limited, which includes the subscription of new B shares and the issuance of new H shares, aimed at enhancing its international logistics capabilities and market presence [1][4][27]. Group 1: Transaction Overview - The company will subscribe to 821,657,973 new B shares of J&T Global Express at a price of HKD 10.10 per share, totaling approximately HKD 8,298.75 million [6][7]. - Following the transaction, the company will hold approximately 10.00% of J&T Global Express's expanded total issued shares [6][17]. - The issuance of new H shares will involve 225,877,669 shares at a price of HKD 36.74 per share, with expected net proceeds of around HKD 8,288.75 million [8][19]. Group 2: Strategic Importance - The transaction is strategically significant for the company, as it aims to enhance its international network and operational efficiency, particularly in cross-border logistics and emerging markets [27][28]. - The partnership with J&T Global Express is expected to leverage both companies' strengths, facilitating expansion in Southeast Asia and other rapidly growing regions [27][28]. Group 3: Regulatory and Approval Process - The completion of the transactions is subject to several conditions, including approvals from relevant regulatory authorities and compliance with legal requirements [4][18][20]. - The company will undertake necessary filings and approvals to ensure the successful execution of the share subscriptions and issuances [11][21].

Group 1 - The core point of the announcement is the strategic mutual shareholding agreement between SF Holding and Jitu Express, involving an investment transaction amounting to nearly HKD 8.3 billion [1] - SF Holding will issue 226 million H-shares at a price of HKD 36.74 per share to Jitu Express, while Jitu Express will issue 822 million Class B shares at a price of HKD 10.10 per share to SF Holding [1] - After the transaction, SF Holding will hold 10% of Jitu Express, and Jitu Express will hold 4.29% of SF Holding [1] Group 2 - The mutual shareholding is expected to leverage the complementary strategic synergies between the two companies, enhancing their end-to-end cross-border logistics solutions and domestic service capabilities [2] - SF Holding's strengths in high-quality logistics and international networks will complement Jitu Express's rapid expansion in the e-commerce delivery market [2] - The partnership aims to create a global smart logistics ecosystem by integrating SF Holding's air trunk lines with Jitu Express's end networks across 13 countries, improving efficiency in emerging markets [2]

同日，顺丰发布投资者关系活动记录表。顺丰管理层在接待229位投资者调研时表示，通过本次合作，双方将更好地利用顺丰跨境干线与极兔海外末端能力 的优势进行互补，这不仅有助于提升顺丰全球网络的覆盖深度与运营效率，还为双方未来探索关键基础设施的共同投资机会创造有利条件。 每经记者｜赵雯琪 每经编辑｜余婷婷 中国物流行业迎来一场标志性的深度合作。 1月15日，顺丰控股（002352.SZ，06936.HK）与极兔速递（01519.HK）联合发布公告，宣布达成一项战略性的相互持股协议，将互为对方增发新股，投资 交易金额达83亿港元。 此次合作远非偶然。从2023年极兔收购顺丰旗下丰网，到顺丰现身极兔IPO（首次公开募股）基石投资者名单，双方关系在过去三年里持续深化，最终从业 务合作升级为资本与战略的双重协同。 双方合作并非偶然 在多位业内人士看来，极兔和顺丰的深度合作并不是偶然事件。 图片来源：据港交所公告制图 快递专家赵小敏在接受《每日经济新闻》记者采访时表示，中国快递行业规模最大（顺丰）与发展速度最快（极兔）的企业联手，将加剧快递企业的竞争压 力，可能使价格战加速走向终结，倒逼其他企业调整策略。 顺丰董事候选人将加入 ...

Group 1 - Jitu Express and SF Holding announced a strategic mutual shareholding agreement with an investment amount of HKD 8.3 billion [1] - Jitu Express will issue 822 million Class B shares to SF Holding at HKD 10.10 per share, while SF Holding will issue 226 million H shares to Jitu Express at HKD 36.74 per share [1] - After the transaction, SF Holding will hold 10% of Jitu Express, and Jitu Express will hold 4.29% of SF Holding [1] Group 2 - The strategic cooperation aims to leverage the complementary strengths of both companies in the global supply chain context, focusing on efficient integration of scarce resources in end-to-end cross-border logistics [2] - SF Holding's core resources in cross-border logistics and Jitu's efficient last-mile delivery network will provide customers with a more reliable one-stop comprehensive logistics service [2] - The collaboration is expected to enhance both companies' logistics capabilities in overseas markets, promoting growth in overseas business, which is a key growth engine [2]