就安能物流集團有限公司的股份的交易披露 執行人員接獲依據香港《公司收購及合併守則》規則 22 作出以下的證券交易的披露： | 交易方 | 日期 | 有關證券的說明 | 產品說明 | 交易性質 | | 與衍生工具有關 | 到期日或清結日 | 參考價 | 已支付／已收 | 交易後數額（包括 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | | 的參照證券數目 | | | 取的總金額 | 與其訂有協議或 | | | | | | | | | | | | 達成諒解的任何 | | | | | | | | | | | | 人士的證券） | | Morgan | 2026 年 1 月 | 14 衍生工具 | 其他類別產品 | 客戶主動利便客戶 | ─ | 1 | 2026 年 7 月 31 | $12.1289 | $12.1289 | 0 | | Stanley & | 日 | | | 買入 | | | 日 | | | | | Co., | | 衍生工具 | 其他類別產品 | 客戶主動利便客戶 | ─ | 50 ...

2026 年 1 月 15 日 透過協議安排進行私有化 就安能物流集團有限公司的股份的交易披露 完 註： J.P. Morgan Securities PLC 是與要約人有關連的第(5)類別聯繫人。 執行人員接獲依據香港《公司收購及合併守則》規則 22 作出以下的證券交易的披露： | 交易方 | 日期 | | | 有關證券的說明 | 產品說明 | 交易性質 | 與衍生工具有 | | 到期日或清結日 | | 參考價 | | 已支付／已收 | 交易後數額（包括 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | | | 關的參照證券 | | | | | | 取的總金額 | 與其訂有協議或 | | | | | | | | | 數目 | | | | | | | 達成諒解的任何 | | | | | | | | | | | | | | | | 人士的證券） | | J.P. Morgan | 2026 | 年 1 | 月 14 | 衍生工具 | 其他類別產品 | ...

Core Viewpoint - The recent delisting of major express delivery companies, Debon Logistics and Aneng Logistics, introduces uncertainty into the logistics industry's competitive landscape, marking a transition from scale-focused growth to a new phase emphasizing both scale and strength [1][3]. Group 1: Company Developments - Debon Logistics announced its intention to voluntarily withdraw its A-share listing on the Shanghai Stock Exchange, with JD Logistics offering a cash option to Debon shareholders at a price of 19 RMB per share, representing a premium of over 35% compared to the last trading day [1][6]. - Following the acquisition of Debon by JD Logistics in 2022, the companies are now moving towards deeper integration of their business and networks [1]. - Debon Logistics reported a market capitalization of 15.44 RMB per share, totaling 156.64 billion RMB as of January 14 [4]. Group 2: Industry Trends - The logistics industry is experiencing a wave of privatization and delisting, with Aneng Logistics also announcing plans to privatize and delist by February 9, 2025, indicating a trend towards deep industry consolidation [3][8]. - Experts suggest that the delisting of Debon and Aneng signifies a shift in the logistics sector towards a focus on service quality and comprehensive strength, moving away from merely expanding scale [3]. - The logistics market is becoming increasingly competitive, with new players entering the zero-load logistics space and existing companies like Zhongtong and SF Express intensifying their market efforts [9]. Group 3: Financial Performance - In the first three quarters of 2025, Debon Logistics achieved a revenue of 30.27 billion RMB, reflecting a year-on-year growth of nearly 7%, but reported a net loss of 277 million RMB compared to a profit of 517 million RMB in the same period of 2024 [7]. - The decision to delist is seen as a strategic move to alleviate financial pressures associated with being a public company, allowing for more efficient resource allocation within JD Logistics' management framework [7]. Group 4: Future Outlook - The market is closely watching whether the integration of Debon into JD Logistics will yield significant synergies, with the potential to create a more competitive logistics entity [7]. - The trend of privatization in the logistics sector may also influence the express delivery industry, suggesting that similar consolidation efforts could occur in that space as well [9].

Core Viewpoint - The recent delisting of major express delivery companies, Debon Logistics and Aneng Logistics, introduces uncertainty into the logistics industry's competitive landscape, marking a transition towards deeper integration and transformation within the sector [1][3][8]. Group 1: Company Actions - Debon Logistics announced its intention to voluntarily withdraw its A-share listing on the Shanghai Stock Exchange, with JD Logistics offering a cash option to Debon shareholders at a price of 19 RMB per share, representing a premium of over 35% compared to the last trading price [1][5]. - Aneng Logistics has also announced plans for privatization and delisting, indicating a trend of privatization within the logistics industry since 2025 [3][8]. - Debon Logistics' delisting is part of JD Logistics' commitment to resolve competition issues following its acquisition of Debon, allowing for better resource integration and operational efficiency [4][6]. Group 2: Industry Trends - The logistics industry is entering a phase of deep integration and transformation, shifting from a focus on scale to a focus on both scale and strength, emphasizing service quality and comprehensive capabilities [3][4]. - The delisting of Debon and Aneng signifies a broader trend of consolidation in the logistics sector, with increased mergers and acquisitions expected as companies seek to enhance competitiveness [7][8]. - New players are entering the market, and existing companies like Zhongtong and SF Express are intensifying their competition in the express delivery sector [8]. Group 3: Financial Performance - Debon Logistics reported a revenue of 30.27 billion RMB for the first three quarters of 2025, reflecting a year-on-year growth of nearly 7%, but also recorded a net loss of 277 million RMB, contrasting with a profit of 517 million RMB in the same period of 2024 [5].

2026 年 1 月 14 日 透過協議安排進行私有化 就安能物流集團有限公司的股份的交易披露 Morgan Stanley & Co., International plc 是最終由摩根士丹利擁有的公司。 交易披露 | 交易方 | 日期 | | 有關證券的說明 | 產品說明 | 交易性質 | 與衍生工具有 | | 到期日或清結日 | | | 參考價 | 已支付／已收 | 交易後數額（包括 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | | 關的參照證券 | | | | | | 取的總金額 | 與其訂有協議或 | | | | | | | | | 數目 | | | | | | | 達成諒解的任何 | | | | | | | | | | | | | | | | 人士的證券） | | | Morgan Stanley | 2026 | 年 1 月 | 衍生工具 | 其他類別產品 | 客戶主動利便客戶 | ─ | 9,000 | 2026 年 月 | ...

2026 年 1 月 14 日 透過協議安排進行私有化 就安能物流集團有限公司的股份的交易披露 註： Morgan Stanley Capital Services LLC 是與要約人有關連的第(5)類別聯繫人。 執行人員接獲依據香港《公司收購及合併守則》規則 22 作出以下的證券交易的披露： | 交易方 | 日期 | | | 有關證券的說明 | 產品說明 | 交易性質 | | 與衍生工具 | 到期日或清結日 | | 參考價 | | 已支付／已收 | 交易後數額（包括 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | | | | 有關的參照 | | | | | 取的總金額 | 與其訂有協議或 | | | | | | | | | | 證券數目 | | | | | | | 達成諒解的任何 | | | | | | | | | | | | | | | | | 人士的證券） | | | Morgan Stanley | 2026 | 年 | 1 ...

| 交易方 | 日期 | | | 有關證券的說 | 交易性質 | 買入／賣出 | 涉及的股份 | 已支付／已收取 | 已支付或已收 | 已支付或已收 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | 明 | | | 總數 | 的總金額 | 取的最高價 | 取的最低價 | | | | | | | | | | | | （H） | （L） | | | Morgan Stanley | 2026 | 年 1 | 月 | 普通股 | 因全屬客戶主動發出且由客戶需求帶動的買賣盤所 | 買入 | 9,000 | $109,070.0000 | $12.1200 | | $12.1100 | | & Co., | 13 日 | | | | 產生的 Delta 1 產品的對沖活動 | | | | | | | | International plc | | | | | | | | | | | | 完 註： 2026 年 1 月 14 日 透過協議安排進行私有化 就安能物流集團有限公司的股份的交易披露 執行 ...

Core Viewpoint - Aneng Logistics is set to delist from the Hong Kong Stock Exchange following a conditional acquisition proposal from Celestia BidCo Limited, with the delisting expected to take effect on February 9, 2026 [1][2] Group 1: Company Announcement - Aneng Logistics announced that the resolution for the acquisition agreement was approved by shareholders on January 9, 2026, leading to the suspension of share transfer registration from January 29, 2026 [1] - The company was listed on the Hong Kong Stock Exchange in November 2021 at an IPO price of HKD 13.88, raising over HKD 11.13 billion, and was recognized as the "first stock of express delivery in Hong Kong" [1] - The company operates a vast logistics network with over 38,000 freight partners and agents, covering more than 99.6% of county and town terminal customers in China [1] Group 2: Acquisition Details - On December 17, 2025, Aneng Logistics disclosed details of the acquisition offer, allowing shareholders to choose between cash or shares, with a deadline for submission of election forms set for February 2, 2026 [2] - The acquisition proposal values Aneng Logistics at approximately USD 1.84 billion (HKD 14.3 billion), representing a significant premium over the pre-delist share price of HKD 12.18 [2] - The leading investor, Dazhong Capital, is the largest institutional shareholder with a 24.32% stake, while Temasek and Dazhong Capital's subsidiary provide essential funding and global resource integration capabilities [2] Group 3: Industry Context - The logistics industry is experiencing intensified competition, leading to increased pressure on profitability for companies like Aneng Logistics [2] - The decision to delist is influenced by macroeconomic challenges and heightened competition in the less-than-truckload (LTL) freight sector, allowing the company to operate more flexibly as a private entity [2]

註： 2026 年 1 月 13 日 Morgan Stanley Capital Services LLC 是與要約人有關連的第(5)類別聯繫人。 透過協議安排進行私有化 就安能物流集團有限公司的股份的交易披露 執行人員接獲依據香港《公司收購及合併守則》規則 22 作出以下的證券交易的披露： | 交易方 | 日期 | 有關證券的說 | 產品說明 | 交易性質 | | 與衍生工具有關 | 到期日或清結日 | 參考價 | 已支付／已收取 | 交易後數額（包括 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 明 | | | | 的參照證券數目 | | | 的總金額 | 與其訂有協議或 | | | | | | | | | | | | 達成諒解的任何 | | | | | | | | | | | | 人士的證券） | | Morgan | 2026 年 1 月 12 日 | 衍生工具 | 其他類別產品 | 客戶主動利便客戶 | ─ | 1 | 2026 年 7 月 31 | $12.1254 | $12.1254 | ...

完 2026 年 1 月 13 日 透過協議安排進行私有化 就安能物流集團有限公司的股份的交易披露 執行人員接獲依據香港《公司收購及合併守則》規則 22 作出以下的證券交易的披露： | 交易方 | 日期 | | | 有關證券的 | 交易性質 | 買入／賣出 | 涉及的股份 | 已支付／已收取 | 已支付或已收 | 已支付或已收 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | 說明 | | | 總數 | 的總金額 | 取的最高價 | 取的最低價 | | | | | | | | | | | （H） | （L） | | Morgan | 2026 年 | 1 月 12 | 日 | 普通股 | 因全屬客戶主動發出且由客戶需求帶動的買賣盤所 | 買入 | 55,500 | $672,549.0000 | $12.1200 | $12.1100 | | Stanley & Co., | | | | | 產生的 Delta 1 產品的對沖活動 | | | | | | | International | | | | ...