Core Viewpoint - Jitu Express and SF Holding have announced a strategic mutual shareholding agreement involving a total investment of HKD 8.3 billion, aimed at enhancing their logistics network and service capabilities for global e-commerce [1]. Group 1: Strategic Partnership - Jitu Express will issue 822 million Class B shares to SF Holding at a price of HKD 10.10 per share, while SF Holding will issue 226 million H shares to Jitu Express at a price of HKD 36.74 per share [1]. - Post-transaction, SF Holding will hold 10% of Jitu Express, and Jitu Express will hold 4.29% of SF Holding [1]. - The collaboration aims to leverage both companies' strengths to build a more extensive, efficient, and resilient global integrated logistics network [1]. Group 2: Complementary Strengths - Jitu Express plans to utilize its end network and localized operational advantages across 13 countries, combined with SF Holding's core resources in cross-border logistics and mature operational systems [1]. - The partnership is expected to enhance the competitiveness of end-to-end cross-border logistics solutions and expand service boundaries in the Chinese market [1]. Group 3: Historical Context - Prior to Jitu's IPO in Hong Kong in 2023, SF Holding already held a 1.54% stake in Jitu through investments [2]. - In May 2023, Jitu acquired 100% of SF Holding's Fengwang Express for HKD 1.183 billion, allowing SF Holding to divest from its economy express business and eliminate competition and losses [2].