Group 1: Business Performance Overview - In the first three quarters of 2025, the total business volume reached 12.15 billion parcels, a year-on-year increase of 28.3%, significantly outperforming the industry average growth rate [5] - Revenue for the same period amounted to 225.3 billion RMB, reflecting an 8.9% year-on-year growth, with express logistics revenue increasing by 12% [5] - Gross profit for the first three quarters was 29.2 billion RMB, a 1.2% increase year-on-year, with a gross margin of 13.0%, down by 1.0 percentage points [5] Group 2: Strategic Initiatives - The company has focused on three strategic areas: enhancing time-sensitive product competitiveness, reducing costs to improve customer retention, and strengthening the sales team for industry-specific solutions [3][4] - The implementation of a differentiated regional authorization strategy aims to optimize operational efficiency by adapting to local market conditions [4] - The company is committed to building a comprehensive end-to-end supply chain and enhancing international capabilities to create a sustainable second growth curve [3] Group 3: Financial Health and Shareholder Returns - The company has maintained a healthy capital structure with an asset-liability ratio of 50% and a net cash flow from operating activities of 19.4 billion RMB [9] - Cumulative share repurchases exceeded 5 billion RMB since 2022, with a recent increase in the repurchase plan from 5-10 billion RMB to 15-30 billion RMB, indicating strong confidence in future value [10][11] - The dividend payout ratio was raised to 40% for the year, with a mid-year cash dividend of approximately 2.23 billion RMB, a 21% increase year-on-year [18] Group 4: Operational Efficiency and Cost Management - The company has seen a decrease in management and research expenses by 0.3 and 0.2 percentage points respectively, while the financial expense ratio decreased by 0.1 percentage points [8] - The overall expense ratio declined by 0.5 percentage points in the first three quarters, reflecting improved operational efficiency [8] - The company has initiated a "gain plan" to optimize customer structure and enhance the proportion of high-value clients [16] Group 5: Future Outlook - The management aims to achieve a year-on-year net profit growth for the fourth quarter of 2025, maintaining a steady growth trajectory for the annual net profit [18] - The company plans to leverage market dynamics and peak season characteristics to optimize operational efficiency and resource integration [18]

Core Viewpoint - SF Holding (06936) has adjusted its A-share repurchase plan, increasing the total repurchase fund from a range of RMB 500 million to RMB 1 billion to a new range of RMB 1.5 billion to RMB 3 billion, with the implementation period extended to 12 months from the date of board approval [1] Group 1 - The total amount for the repurchase of shares has been increased to a minimum of RMB 1.5 billion and a maximum of RMB 3 billion [1] - The implementation period for the repurchase plan has been extended from April 28, 2025, to October 29, 2026 [1] - Other aspects of the A-share repurchase plan remain unchanged despite the adjustments [1]

Major Events - Vanke A's largest shareholder, Shenzhen Metro Group, plans to provide a loan of up to 2.2 billion yuan to the company for repaying bond principal and interest, with a term of no more than 3 years and an interest rate reduced by 66 basis points from the 1-year LPR [2] - ST Chuangxing's chairman, Liu Peng, has been arrested on criminal charges, but the company states that this matter is unrelated to its operations, and the board is functioning normally [2] - Shannon Chip's chairman, Fan Yongwu, resigned for personal reasons, and Huang Zewei has been elected as the new chairman, holding over 10% of the company's shares [3] - China Coal Energy has invested 1 billion yuan in a state-owned strategic emerging industry fund, which has a total size of 51 billion yuan, aimed at expanding its industrial cooperation ecosystem [4] - Da'an Gene's board has authorized management to sell part of its stock assets, with a limit of 1% through centralized bidding and 2% through block trading [5][6] - Kaineng Health plans to acquire several subsidiaries from Yuaneng Group to strengthen its investment in the cell industry [6] - David Medical's subsidiary has received a medical device registration certificate for a disposable lung nodule positioning puncture needle [7] Financial Performance - Sairus reported a Q3 net profit of 2.371 billion yuan, a decrease of 1.74% year-on-year, with a revenue of 48.133 billion yuan, up 15.75% [8] - Upwind New Materials achieved a Q3 net profit of 30.6473 million yuan, a 49.66% increase year-on-year, with revenue of 496 million yuan, up 23.73% [9] - Youzu Network's Q3 net profit surged by 4466.74% to 26.1999 million yuan, with revenue of 331 million yuan, up 11.99% [10] - Zhongji Xuchuang's Q3 net profit increased by 124.98% to 3.137 billion yuan, with revenue of 10.216 billion yuan, up 56.83% [11] - SAIC Group's Q3 net profit reached 2.083 billion yuan, a 644.88% increase, with revenue of 169.403 billion yuan, up 16.19% [12] - China Life's Q3 net profit was 126.873 billion yuan, a 91.5% increase, with revenue of 298.66 billion yuan, up 54.8% [13] - Pingtan Development's Q3 net profit grew by 1970.63% to 16.1449 million yuan, with revenue of 287 million yuan, up 11.78% [14] - Huatai Securities reported a Q3 net profit of 5.183 billion yuan, a decrease of 28.11%, with revenue of 10.909 billion yuan, down 6.94% [15] - Yanzhou Coal's Q3 net profit was 2.288 billion yuan, down 36.60%, with revenue of 38.259 billion yuan, down 0.26% [16] - Dongwu Securities' Q3 net profit increased by 50.56% to 1.003 billion yuan, with revenue of 2.846 billion yuan, up 38.39% [17] - Dongxing Securities' Q3 net profit surged by 112.67% to 780 million yuan, with revenue of 1.361 billion yuan, up 35.79% [18] - CMB Securities reported a Q3 net profit of 3.686 billion yuan, a 53.45% increase, with revenue of 7.723 billion yuan, up 64.89% [19] - Agricultural Bank's Q3 net profit was 81.349 billion yuan, up 3.66%, with revenue of 1809.81 billion yuan, up 4.30% [20] - Industrial and Commercial Bank's Q3 net profit reached 101.805 billion yuan, up 3.29%, with revenue of 2018.86 billion yuan, up 2.42% [21] - Shenghe Resources reported a Q3 net profit increase of 748.07% [22] - Ingrity Media's Q3 net profit was 442.85 million yuan, up 167.91%, with revenue of 1.919 billion yuan, up 29.70% [23] - China Duty Free's Q3 net profit decreased by 28.94% to 452 million yuan, with revenue of 11.711 billion yuan, down 0.38% [24] - Luzhou Laojiao's Q3 net profit was 3.099 billion yuan, down 13.07%, with revenue of 6.674 billion yuan, down 9.80% [25] - Longi Green Energy reported a Q3 net loss of 834 million yuan, with revenue of 18.101 billion yuan, down 9.78% [26] - New Hope's Q3 net profit was 512.55 million yuan, down 99.63%, with revenue of 28.879 billion yuan, up 4.51% [27] - Wealth Trend's Q3 net profit increased by 76.93% to 77.1855 million yuan, with revenue of 65.3534 million yuan, up 4.31% [28] - Hunan Silver's Q3 net profit was 96.3611 million yuan, up 47.51%, with revenue of 4.065 billion yuan, up 98.68% [29] - Spring Airlines' Q3 net profit decreased by 6.17% to 1.167 billion yuan, with revenue of 6.469 billion yuan, up 6.01% [30] - Litong Electronics reported a Q3 net profit of 165 million yuan, up 1432.90%, with revenue of 946 million yuan, up 57.09% [31] - Baosteel's Q3 net profit increased by 130.31% to 3.081 billion yuan, with revenue of 81.064 billion yuan, up 1.83% [32] - Giant Star Technology's Q3 net profit was 882 million yuan, up 18.96%, with revenue of 4.129 billion yuan, down 5.80% [33] - Wanda Film's Q3 net profit increased by 319.92% year-on-year [34] - COSCO Shipping's Q3 net profit decreased by 29% [35] - PetroChina's Q3 net profit was 42.29 billion yuan, down 3.9%, with revenue of 719.16 billion yuan, up 2.3% [36] - JA Solar reported a Q3 net loss of 3.553 billion yuan [37] - BOE Technology's Q3 net profit was 1.355 billion yuan, up 32.07%, with revenue of 53.270 billion yuan, up 5.81% [38] - BYD's Q3 net profit was 7.823 billion yuan, down 32.60%, with revenue of 194.985 billion yuan, down 3.05% [39] - Guotai Junan's Q3 net profit increased by 40.60% to 6.337 billion yuan, with revenue of 22.019 billion yuan, up 136.00% [40] - Jianghuai Automobile reported a Q3 net loss of 661 million yuan, with revenue of 11.513 billion yuan, up 5.54% [41] - Zhezhong Co. reported a Q3 net profit of 206 million yuan, up 5282.88%, with revenue of 232 million yuan, down 21.33% [42] - Yonghui Supermarket reported a Q3 net loss of 469 million yuan, with revenue of 12.486 billion yuan, down 25.55% [43] Shareholding Changes - Ruisheng Intelligent's shareholder plans to reduce its stake by up to 3% [44] - SF Holding adjusted its share repurchase plan to a total amount of not less than 1.5 billion yuan and not more than 3 billion yuan [45] - Changying Precision adjusted its share repurchase price limit to 50 yuan per share [46] Major Contracts - Trina Solar signed a sales contract for over 1 GWh of energy storage products with a European customer [47]

Major Events - Vanke A's largest shareholder, Shenzhen Metro Group, plans to provide a loan of up to 2.2 billion yuan to the company for repaying bond principal and interest, with a term of no more than 3 years and an interest rate reduced by 66 basis points from the 1-year LPR [4] - *ST Chuangxing's chairman, Liu Peng, has been arrested for suspected criminal activities, but the company's operations remain normal under the management of the executive team [5] - Shannon Chip's chairman, Huang Zewei, has been elected following the resignation of the previous chairman, Fan Yongwu [6][7] - China Coal Energy has invested 1 billion yuan in a state-owned strategic emerging industry fund, which has a total size of 51 billion yuan, aimed at expanding its industrial cooperation ecosystem [8] - Da'an Gene's board has authorized management to sell part of its stock assets, with a limit of 1% through centralized bidding and 2% through block trading [9] - Kaineng Health plans to acquire several subsidiaries of Yuaneng Group to strengthen its investment in the cell industry, aiming to create a second growth curve [10] - David Medical's subsidiary has received a medical device registration certificate for a disposable lung nodule positioning puncture needle [11] Performance Overview - Saisir reported a Q3 net profit of 2.371 billion yuan, a year-on-year decrease of 1.74%, with a revenue of 48.133 billion yuan, up 15.75% [12][13] - Upwind New Materials achieved a Q3 net profit of 30.6473 million yuan, a year-on-year increase of 49.66% [14] - Youzu Network's Q3 net profit surged by 4466.74% to 26.1999 million yuan [15] - Zhongji Xuchuang's Q3 net profit increased by 124.98% to 3.137 billion yuan [16] - SAIC Motor's Q3 net profit reached 2.083 billion yuan, up 644.88% [17] - China Life's Q3 net profit was 126.873 billion yuan, a year-on-year increase of 91.5% [18] - Pingtan Development's Q3 net profit grew by 1970.63% to 16.1449 million yuan [19] - Huatai Securities reported a Q3 net profit of 5.183 billion yuan, down 28.11% [20] - Yanzhou Coal's Q3 net profit decreased by 36.60% to 2.288 billion yuan [21] - Dongwu Securities' Q3 net profit increased by 50.56% to 1.003 billion yuan [22] - Dongxing Securities' Q3 net profit surged by 112.67% to 780 million yuan [23] -招商证券's Q3 net profit increased by 53.45% to 3.686 billion yuan [24] - Agricultural Bank's Q3 net profit was 81.349 billion yuan, up 3.66% [25] - Industrial and Commercial Bank's Q3 net profit reached 101.805 billion yuan, a year-on-year increase of 3.29% [26] - Shenghe Resources reported a Q3 net profit growth of 748.07% [28] -引力传媒's Q3 net profit increased by 167.91% to 442.85 million yuan [29] - China Duty Free's Q3 net profit decreased by 28.94% to 452 million yuan [30] - Luzhou Laojiao's Q3 net profit decreased by 13.07% to 3.099 billion yuan [31] - Everbright Securities' Q3 net profit increased by 65.88% to 999.5 million yuan [32] - Gujing Gongjiu's Q3 net profit decreased by 74.56% to 299 million yuan [33] - Longi Green Energy reported a Q3 net loss of 834 million yuan [34] - New Hope's Q3 net profit decreased by 99.63% to 512.55 million yuan [35] - Wealth Trend's Q3 net profit increased by 76.93% to 77.1855 million yuan [36] - Hunan Silver's Q3 net profit increased by 47.51% to 96.3611 million yuan [37] - Spring Airlines' Q3 net profit decreased by 6.17% to 1.167 billion yuan [38] - Litong Electronics' Q3 net profit surged by 1432.90% to 165 million yuan [39] - Baosteel's Q3 net profit increased by 130.31% to 3.081 billion yuan [40] - Juxing Technology's Q3 net profit increased by 18.96% to 882 million yuan [42] - Wanda Film's Q3 net profit increased by 319.92% [43] - COSCO Shipping's Q3 net profit decreased by 29% [44] - China Petroleum's Q3 net profit was 42.29 billion yuan, down 3.9% [45] - JA Solar reported a Q3 net loss of 3.553 billion yuan [46] - BOE Technology's Q3 net profit increased by 32.07% to 1.355 billion yuan [47] - BYD's Q3 net profit decreased by 32.60% to 7.823 billion yuan [48] - Guotai Junan's Q3 net profit increased by 40.60% to 6.337 billion yuan [50] - Jianghuai Automobile reported a Q3 net loss of 661 million yuan [51] - Zhezhong Co.'s Q3 net profit increased by 5282.88% to 206 million yuan [52] - Yonghui Supermarket reported a Q3 net loss of 469 million yuan [53] Shareholding Changes - Ruisheng Intelligent's shareholder plans to reduce its stake by up to 3% [54] Share Buybacks - SF Holding has adjusted its share buyback plan to a total amount of not less than 1.5 billion yuan and not more than 3 billion yuan [55][56] - Changying Precision has raised its share buyback price limit to 50 yuan per share [57] Major Contracts - Trina Solar signed a sales contract for over 1 GWh of energy storage products with a European customer [58]

（於中華人民共和國註冊成立的股份有限公司） 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容所產生或因 依賴該等內容而引致的任何損失承擔任何責任。 S.F. Holding Co., Ltd. 順豐控股股份有限公司 （股份代號：6936） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條刊發。 根據中華人民共和國的有關法例規定，順豐控股股份有限公司（「本公司」）在巨 潮資訊網( www.cninfo.com.cn )刊發了以下公告。茲載列如下，僅供參閱。 承董事會命 順豐控股股份有限公司 聯席公司秘書 甘玲 中國深圳，2025年10月30日 於本公告日期，本公司董事會成員包括董事長及執行董事王衞先生，執行董事何捷先生、王 欣女士及徐本松先生；及獨立非執行董事陳尚偉先生、李嘉士先生及丁益博士。 2022 年 A 股股票期权激励计划预留授予股票 期权第三个行权期行权条件成就相关事项 之 独立财务顾问报告 2025 年 10 月 | | | | 一、释义 | | 1 | | --- | ...

士兰微：8426.77万元，+56.62% 有研新材：1.15亿元，+56.31% 天赐材料：1.53亿元，+51.53% 上纬新材：3064.73万元，+49.66% 三花智控：11.32亿元，+43.81% 国泰海通：63.37亿元，+40.60% 中国太保：178.15亿元，+35.2% 中国东航：35.34亿元，+34.37% 立讯精密：48.74亿元，+32.49% 京东方A：13.55亿元，+32.07% 澜起科技：4.73亿元，+22.94% 北方华创：19.22亿元，+14.60% 国电南瑞：19.03亿元，+7.81% 建设银行：952.84亿元，+4.19% 农业银行：813.49亿元，+3.66% 工商银行：1018.05亿元，+3.29% 交通银行：239.78亿元，+2.46% 邮储银行：273.34亿元，+1.23% ►下降、亏损：（第三季度净利，同比） 新希望：512.55万元，-99.63% 中国黄金：1608.85万元，-89.37% 长春高新：1.82亿元，-82.98% 水井坊：2.21亿元，-75.01% 古井贡酒：2.99亿元，-74.56% 五粮液：20.19亿元， ...

Core Viewpoint - SF Holding Co., Ltd. announced the cancellation of 175,062 stock options from its 2022 A-share stock option incentive plan, as approved in the 25th meeting of the sixth board of directors held on October 30, 2025 [1] Group 1 - The cancellation of stock options is in accordance with the relevant provisions of the company's 2022 stock option incentive plan draft [1] - The decision was authorized by the company's second extraordinary general meeting of shareholders in 2022 [1] - A total of 175,062 stock options that were granted but not yet exercised will be canceled [1]

Core Insights - The company reported a significant increase in express delivery volume, with a year-on-year growth of 33.4% in Q3, reaching a total of 4.31 billion parcels, which is notably higher than the overall growth rate of the domestic express delivery industry [1][4] - Despite the increase in volume, the company's profit margins are under pressure, with gross profit declining by 4.4% and net profit attributable to shareholders decreasing by 8.5% year-on-year in Q3 [1][4] - The company attributes the profit decline to an "active market expansion strategy" and necessary long-term strategic investments [1] Business Segment Performance - The express logistics segment showed strong performance with a revenue increase of 14.4% year-on-year, while the supply chain and international business segments experienced a revenue decline of 5.3% [2][4] - The international freight forwarding business was notably impacted by a significant drop in shipping prices compared to the previous year, while international express and cross-border e-commerce logistics revenue grew by 27% [2][4] - The company is transitioning from standardized express services to customized supply chain solutions, achieving over 25% year-on-year growth in logistics revenue across various industries such as industrial equipment, high-tech communications, automotive, and consumer goods [2] Financial Highlights - Q3 revenue reached 78.4 billion yuan, representing an 8.2% year-on-year increase, while net profit attributable to shareholders was 2.57 billion yuan, down 8.5% [4] - For the first three quarters, total revenue was 225.26 billion yuan, up 8.89% year-on-year, with net profit attributable to shareholders increasing by 9.07% to 8.31 billion yuan [4] - The company reported a total of over 2.4 million active monthly billing customers and over 780 million individual members [4]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容所產生或因 依賴該等內容而引致的任何損失承擔任何責任。 S.F. Holding Co., Ltd. 順豐控股股份有限公司 甘玲 中國深圳，2025年10月30日 （於中華人民共和國註冊成立的股份有限公司） （股份代號：6936） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條刊發。 根據中華人民共和國的有關法例規定，順豐控股股份有限公司（「本公司」）在巨 潮資訊網( www.cninfo.com.cn )刊發了以下公告。茲載列如下，僅供參閱。 承董事會命 順豐控股股份有限公司 聯席公司秘書 於本公告日期，本公司董事會成員包括董事長及執行董事王衞先生，執行董事何捷先生、王 欣女士及徐本松先生；及獨立非執行董事陳尚偉先生、李嘉士先生及丁益博士。 上海澄明则正律师事务所 法律意见书 上海澄明则正律师事务所 关于顺丰控股股份有限公司 2022 年 A 股股票期权激励计划 注销部分股票期权 及预留授予股票期权第三个行权期 行权条件成就的 ...

S.F. Holding Co., Ltd. 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） 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容所產生或因 依賴該等內容而引致的任何損失承擔任何責任。 承董事會命 順豐控股股份有限公司 聯席公司秘書 甘玲 中國深圳，2025年10月30日 於本公告日期，本公司董事會成員包括董事長及執行董事王衞先生，執行董事何捷先生、王 欣女士及徐本松先生；及獨立非執行董事陳尚偉先生、李嘉士先生及丁益博士。 （股份代號：6936） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條刊發。 根據中華人民共和國的有關法例規定，順豐控股股份有限公司（「本公司」）在巨 潮資訊網( www.cninfo.com.cn )刊發了以下公告。茲載列如下，僅供參閱。 证券代码：002352 证券简称：顺丰控股 公告编号：2025-083 1、公司 2022 年 A 股股票期权激励计划预留授予股票期权的第三个行权期 符合行权条件的激励对象共 26 名，涉及 ...