Group 1 - The company, SF Holding (06936.HK), announced a share buyback plan on November 7, 2025, with an expenditure of RMB 80.179 million to repurchase 2.0054 million shares [1] - The buyback price per share is set between RMB 39.87 and RMB 40 [1]

Group 1 - The company, SF Holding (stock code: 06936), announced a share buyback plan on November 7, 2025, involving an expenditure of 80.1789 million yuan to repurchase 2.0054 million A-shares [1]

Core Insights - The express delivery industry in China experienced a significant growth in business volume, with a year-on-year increase of 12.7% in September 2025, reaching a total of 168.8 billion packages delivered [1] - The average revenue per package showed a narrowing decline, with a reported income of 7.55 yuan per package, reflecting a year-on-year decrease of 4.9% [1] - The overall express delivery revenue reached 127.37 billion yuan, marking a year-on-year growth of 7.2% [1] Express Delivery Industry Data - The express delivery business volume maintained a rapid growth rate, with September 2025 seeing a total of 168.8 billion packages delivered, a 12.7% increase year-on-year, which is an improvement of 0.5 percentage points from the previous month [1] - The single package price decline has slowed, with the average revenue per package at 7.55 yuan, down 4.9% year-on-year, but the decline is less severe than the previous month by 2.3 percentage points, and it increased by 2.4% month-on-month [1] - The total express delivery revenue for September 2025 was 127.37 billion yuan, with a year-on-year growth of 7.2%, an increase of 3 percentage points compared to the previous month [1] Consumer Data - From January to September 2025, the total retail sales of consumer goods reached 36.59 trillion yuan, growing by 4.5% year-on-year, with September alone contributing 4.2 trillion yuan, a 3% increase [2] - The online retail sales of physical goods for the same period totaled 9.15 trillion yuan, reflecting a year-on-year growth of 6.5%, with September's online sales at 1.06 trillion yuan, up 7.3% [2] - The e-commerce penetration rate reached 25.0% for the first nine months, an increase of 0.48 percentage points year-on-year, with September's rate at 25.2%, up 1 percentage point [2] Listed Express Delivery Companies Data - Business volume growth varied among major express delivery companies, with SF Express leading the industry with a year-on-year growth of 31.8%, delivering 15 billion packages in September 2025 [3] - The average revenue per package for major companies showed an upward trend, with YTO Express, Yunda, and Shentong reporting increases of 1.4%, 0.5%, and 5% respectively in September [3] - Revenue figures for September 2025 indicated that SF Express, YTO Express, Yunda, and Shentong achieved revenues of 20.9 billion, 5.8 billion, 4.3 billion, and 4.6 billion yuan respectively, with year-on-year growth rates of 14.2%, 14.9%, 4.1%, and 14.9% [3] Recommended Stocks - The recommended stocks in the express delivery sector include ZTO Express (02057), YTO Express (600233.SH), Shentong Express (002468.SZ), Yunda Holdings (002120.SZ), and SF Holdings (002352.SZ) [4]

Core Viewpoint - SF Holding (002352) shows a positive stock performance with a closing price of 40.03 yuan, up 1.01% as of November 6, 2025, indicating a potential recovery in investor sentiment [1] Financial Performance - For the first three quarters of 2025, SF Holding reported a main business revenue of 225.26 billion yuan, an increase of 8.89% year-on-year, and a net profit attributable to shareholders of 8.31 billion yuan, up 9.07% year-on-year [3] - In Q3 2025, the company achieved a single-quarter main business revenue of 78.40 billion yuan, a year-on-year increase of 8.21%, but the net profit attributable to shareholders decreased by 8.53% to 2.57 billion yuan [3] Market Position - SF Holding has a total market value of 201.73 billion yuan, ranking first in the logistics industry, with a net asset of 108.98 billion yuan, also ranking second [3] - The company has a price-to-earnings ratio (P/E) of 18.21, slightly above the industry average of 18.01, and a price-to-book ratio (P/B) of 2.05, which is lower than the industry average of 2.76 [3] Investment Sentiment - Over the past 90 days, 17 institutions have rated SF Holding, with 15 buy ratings and 2 hold ratings, indicating strong institutional confidence [4] - The average target price set by institutions for the stock is 53.19 yuan, suggesting a significant upside potential from the current price [4]

位于宁夏银川市贺兰县的顺丰分拣中心，工作人员正在分拣快递包裹。中新社记者 于晶 摄 11月6日， 11月6日，位于宁夏银川市贺兰县的顺丰分拣中心，工作人员正常巡检。当日，记者从银川市邮政管理 局获悉，为应对"双十一"物流高峰，各物流企业从运力、人力、场地、特色服务等多维度布局，尤其针 对宁夏牛羊肉、葡萄酒等，推出定制化物流解决方案，以时间换增量，助力本地特色经济产品高效流 通，保障消费市场供需畅通。中新社记者 于晶 摄 位于宁夏银川市贺兰县的顺丰分拣中心，工作人员正在分拣快递包裹。中新社记者 于晶 摄 11月6日， 位于宁夏银川市贺兰县的顺丰分拣中心，工作人员正在分拣快递包裹。中新社记者 于晶 摄 11月6日， 11月6日， 位于宁夏银川市贺兰县的顺丰分拣中心，工作人员正在分拣快递包裹。中新社记者 于晶 摄 11月6日， 宁夏银川市贺兰县的顺丰分拣中心的智能传送带根据收件地址、商品类型自动分流。中新社记者 于晶 摄 位于宁夏银川市贺兰县的顺丰分拣中心，工作人员正在分拣快递包裹。中新社记者 于晶 摄 11月6日， 11月6日， 位于宁夏银川市贺兰县的顺丰分拣中心，工作人员正在分拣快递包裹。中新社记者 于晶 摄 ...

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 第 2 頁 共 7 頁 v 1.3.0 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： 2025年11月6日 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 | | ...

Core Viewpoint - SF Holding (06936) announced a share buyback plan, investing approximately RMB 170 million to repurchase 4.2539 million A-shares at a price range of RMB 39.57 to 40 per share [1] Group 1 - The company plans to execute the buyback on November 6, 2025 [1] - The total investment for the buyback is around RMB 170 million [1] - The number of shares to be repurchased is 4.2539 million [1]

Group 1 - The company SF Holding (002352)(06936) announced a share repurchase plan on November 6, 2025, involving an expenditure of approximately RMB 170 million to buy back 4.2539 million A-shares [1] - The repurchase price per share is set between RMB 39.57 and RMB 40 [1]

Market Overview - The logistics sector increased by 0.36% on November 6, with ST Xuefa leading the gains [1] - The Shanghai Composite Index closed at 4007.76, up 0.97%, while the Shenzhen Component Index closed at 13452.42, up 1.73% [1] Top Gainers in Logistics Sector - ST Xuefa (002485) closed at 4.94, up 5.11% with a trading volume of 89,700 shares and a turnover of 44.11 million yuan [1] - *ST Yuanshang (603813) closed at 31.15, up 4.95% with a trading volume of 9,205 shares and a turnover of 27.98 million yuan [1] - Jiayou International (603871) closed at 14.54, up 3.64% with a trading volume of 128,200 shares and a turnover of 186 million yuan [1] Top Losers in Logistics Sector - Xiamen Xiangyu (600057) closed at 8.39, down 3.12% with a trading volume of 489,700 shares and a turnover of 409 million yuan [2] - Huami Duhai (920351) closed at 26.55, down 2.82% with a trading volume of 23,000 shares and a turnover of 6.14 million yuan [2] - Changjiang Investment (600119) closed at 8.74, down 2.78% with a trading volume of 75,400 shares and a turnover of 6.60 million yuan [2] Capital Flow in Logistics Sector - The logistics sector experienced a net outflow of 94.34 million yuan from institutional investors, while retail investors saw a net inflow of 65.24 million yuan [2] - The main stocks with significant net inflows included SF Holding (002352) with 64.23 million yuan and Shanghai Yashi (603329) with 23.05 million yuan [3] Detailed Capital Flow Analysis - SF Holding (002352) had a main net inflow of 64.23 million yuan, but retail and speculative investors saw net outflows of 33.92 million yuan and 30.31 million yuan respectively [3] - Shanghai Yashi (603329) had a main net inflow of 23.05 million yuan, with retail investors experiencing a net outflow of 19.25 million yuan [3] - New Ning Logistics (300013) recorded a main net inflow of 18.31 million yuan, while retail investors had a net outflow of 12.91 million yuan [3]

Core Viewpoint - SF Holding (06936.HK) announced a share buyback plan, intending to repurchase 4.2539 million A-shares at a total cost of RMB 170 million, with a buyback price range of RMB 39.57 to 40 per share [1] Group 1 - The company plans to execute the buyback on November 6, 2025 [1] - The total expenditure for the buyback is set at RMB 170 million [1] - The number of shares targeted for repurchase is 4.2539 million [1]