Group 1 - The consortium, including Aneng Logistics' CEO and COO, plans to delist the company from the Hong Kong Stock Exchange through a proposal [1] - The proposal offers a cash option of HKD 12.18 per share, representing a 48.54% premium over the last unaffected closing price of HKD 8.20 on September 3, 2025 [2] - Aneng Logistics cites limited benefits of maintaining its listing status and aims to focus more on its core business post-delist [2] Group 2 - For the first half of 2025, Aneng Logistics reported revenue of HKD 5.625 billion, a year-on-year increase of 6.4%, and an adjusted net profit of HKD 476 million, up 10.7% [2] - The total volume of less-than-truckload freight reached 6.82 million tons, reflecting a 6.2% year-on-year growth, with over 38,000 freight partners and agents [2]

Core Viewpoint - The consortium, consisting of Da Chan Capital, Temasek, and Danming Capital, plans to delist Aneng Logistics from the Hong Kong Stock Exchange through a proposal that offers shareholders a cash option of HKD 12.18 per share, representing a significant premium over recent trading prices [1][2] Group 1: Proposal Details - The proposal values Aneng Logistics at approximately USD 1.84 billion (HKD 14.3 billion), a valuation not seen since mid-November 2021 [1] - The cash offer of HKD 12.18 per share represents a premium of 48.54% over the last unaffected closing price of HKD 8.20 on September 3, 2025 [1] - The offer also provides premiums of approximately 50.18%, 48.18%, 28.21%, and 82.88% over the average closing prices for 60 days, 90 days, the highest and lowest prices over the past 52 weeks, and a 3-year average closing price of HKD 6.13, respectively [1] Group 2: Shareholder Benefits - The proposal offers shareholders an attractive opportunity to liquidate their investments at a significant premium amid limited liquidity and ongoing market risks [2] - The likelihood of receiving alternative offers for the company's investment value is extremely low, as the consortium holds approximately 35.74% of the issued shares [3] Group 3: Business Flexibility and Focus - The proposal aims to enhance the company's long-term business decision-making flexibility by removing pressures from short-term capital market expectations and stock price volatility [4] - Maintaining a listing has provided limited benefits, and delisting will allow the company to focus on core operations while saving costs associated with compliance and administrative duties [5] Group 4: Strategic Intentions Post-Proposal - Post-proposal, the consortium intends to retain existing operations, strengthen synergies among business segments, and actively seek new strategic growth opportunities [6] - The plan includes retaining current employees to support the company's long-term growth strategy [6]

Core Viewpoint - A consortium led by Da Chan Capital, Temasek, and Danming Capital has proposed to delist Aneng Logistics from the Hong Kong Stock Exchange, offering a cash option of HKD 12.18 per share, representing a significant premium over recent trading prices [1][2]. Summary by Sections Proposal Details - The proposal values Aneng Logistics at approximately USD 1.84 billion (HKD 14.3 billion), marking the highest valuation since mid-November 2021 [1]. - The cash offer of HKD 12.18 per share represents a premium of 48.54% over the last unaffected closing price of HKD 8.20 on September 3, 2025 [1][2]. - The offer also reflects premiums of approximately 50.18%, 48.18%, 28.21%, and 82.88% over various average closing prices and the highest and lowest prices over the past 52 weeks [2]. Shareholder Benefits - The proposal provides shareholders with an attractive opportunity to liquidate their investments at a significant premium amid limited liquidity and ongoing market uncertainties [1][2]. - The likelihood of alternative offers is low, as any third party would need consent from the consortium's shareholders, who collectively hold about 35.74% of the issued shares [3]. Business Strategy Post-Delisting - The delisting is expected to enhance the flexibility and efficiency of the company's long-term business decisions, allowing it to focus on core operations without the pressures of short-term market expectations [3][4]. - The company has faced significant challenges since its listing in 2021, including macroeconomic factors and increased competition in the less-than-truckload (LTL) freight industry [2][3]. - By delisting, the company aims to save costs associated with maintaining its public listing and redirect resources towards its core business, thereby improving operational efficiency [4]. Future Plans - Post-proposal, the consortium intends to retain existing business operations, strengthen synergies among business segments, and actively seek new strategic growth opportunities [6]. - There is an intention to retain current employees and implement long-term growth strategies [5][6].

Core Viewpoint - Aneng Logistics (9956.HK), a leading player in China's less-than-truckload (LTL) logistics sector, has received a privatization offer from a consortium consisting of Dazhong Capital, Temasek, and Danming Capital, proposing to delist the company from the Hong Kong Stock Exchange at a cash price of HKD 12.18 per share, valuing the company at approximately HKD 14.3 billion (USD 1.84 billion) [1] Group 1 - The privatization offer represents a premium of 48.54% over the company's unaffected closing stock price [1] - The offer is final, with no intention from the offerors to increase the price [1] - The company's management has provided an irrevocable commitment in support of the proposal [1] Group 2 - The announcement highlights that the proposal offers shareholders a certain opportunity to exit their investments at a significant premium amid a market environment characterized by insufficient stock liquidity [1]

Core Viewpoint - Aneng Logistics (09956) and the offeror Celestia BidCo Limited have entered into an implementation agreement, proposing a plan that, if approved, will lead to the cancellation and destruction of certain shares, with the company maintaining its issued share capital through the issuance of new shares to the offeror [1][2][3]. Group 1 - The proposal includes the cancellation of Topaz Gem's agreement shares at a price of HKD 12.18 per share, in exchange for the issuance of new shares [2]. - Other shareholders will also have their agreement shares cancelled and destroyed, receiving either cash or share options [2]. - The company will maintain its issued share capital by issuing new shares equal to the number of cancelled shares, using the reserves generated from the cancellation [2]. Group 2 - The cash option of HKD 12.18 per share represents a premium of approximately 48.54% over the closing price of HKD 8.20 on September 3, 2025, and a premium of about 29.57% over the closing price of HKD 9.40 on October 24, 2025 [3]. - The offeror intends to continue the existing business of the group and explore new strategic opportunities for long-term growth after the proposal is completed [3]. - The company has applied to the stock exchange for the resumption of trading of its shares starting from 9:00 AM on October 30, 2025 [4].

Core Viewpoint - Aneng Logistics (09956) and the offeror Celestia BidCo Limited have announced a proposal for a share arrangement that, if approved, will lead to the cancellation and destruction of certain shares, with the company issuing new shares to the offeror to maintain its issued share capital [1][2]. Group 1 - The offeror will acquire the company as a wholly-owned subsidiary, and the company's shares will be delisted from the stock exchange following the completion of the proposal [1]. - The cash consideration for the agreement shares is set at HKD 12.18 per share, representing a premium of approximately 48.54% over the closing price of HKD 8.20 on September 3, 2025, and a premium of approximately 29.57% over the closing price of HKD 9.40 on October 24, 2025 [2]. - The company has applied to the stock exchange for the resumption of trading of its shares starting from 9:00 AM on October 30, 2025 [3]. Group 2 - The offeror intends to continue the existing business of the group and explore new strategic opportunities for long-term growth, while also considering potential restructuring or reallocation of assets to enhance financial flexibility [2]. - The offeror is committed to retaining existing employees post-proposal completion, although changes may occur in day-to-day operations [2]. - As of the announcement date, TopCo is owned approximately 52.40% by Dazhong Capital, 23.80% by Temasek, and 23.80% by True Light [2].

倘在、向或從任何其他司法管轄區刊發、登載或分派全部或部分內容即構成違反有關司法管轄 區相關法律，則本公告不會在、向或從有關司法管轄區刊發、登載或分派。 CELESTIA BIDCO LIMITED （於開曼群島註冊成立的有限公司） ANE (Cayman) Inc. 安能物流集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：9956） 聯合公告 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，概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 本公告僅供參考，並不擬亦不構成或組成於任何司法管轄區購買或認購要約人或本公司任何證 券的任何要約或購買或認購有關證券的邀請的一部分或招攬任何投票或批准，亦不會於任何司 法管轄區在違反適用法律法規的情況下出售、發行或轉讓本公司證券。 (1) 有關根據公司法第86條 以協議安排方式由CELESTIA BIDCO LIMITED 將安能物流集團有限公司除牌的附先決條件之提案 (2) 提出購股權要約及受限制股份單位要約 以註銷所有未行使的購股權及受限制股份單位 ...

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 | 交易性質 | 買入／賣出 | 涉及的股份 | 已支付／已收 | 已支付或已 | 已支付或已 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | 明 | | | 總數 | 取的總金額 | 收取的最高 | 收取的最低 | | | | | | | | | | | 價（H） | 價（L） | | J.P. Morgan | 2025 | 年 | 10 月 | 其他類別的證 | 因全屬客戶主動發出且由客戶需求帶動的買賣 | 買入 | 56,500 | $536,370.0900 | $9.7000 | $9.2500 | | Securities PLC | 24 日 | | | 券 (例如: 股 權互換) | 盤所產生的 Delta 1 產品的對沖活動 | | | | | | | | | | | 其他類別的證 券 (例如: 股 | 因全屬客戶主動發出且由客戶需求帶動的買賣 盤所產 ...

2025 年 10 月 27 日 可能私有化 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 | | 到期日或清結 | | 參考價 | | 已支付／已收 | 交易後數額（包 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | 明 | | | | 關的參照證券 | | 日 | | | | 取的總金額 | 括與其訂有協議 | | | | | | | | | | | 數目 | | | | | | | 或達成諒解的任 | | | | | | | | | | | | | | | | | | 何人士的證券） | | J.P. Morgan | 2025 | 年 | 10 | 月 | | 衍生工具 | 其他類別產品 | 發行衍生工具 | | 500 | 2026 年 | ...

Investment Rating - The investment rating for the transportation industry is "Positive" (maintained) [4] Core Views - The express delivery industry shows resilient demand, with a year-on-year growth of 12.7% in September, indicating a steady expansion of the market [4][25] - The logistics sector is witnessing technological advancements, with JD Logistics planning to procure 3 million robots and 100,000 unmanned vehicles over the next five years, which may enhance supply chain efficiency [5] - The shipping market is expected to benefit from geopolitical factors and trade negotiations, potentially increasing demand for oil transportation and bulk shipping [6][10] - The aviation sector is experiencing growth, with a 10.8% increase in international flight volumes for the upcoming winter-spring season, reflecting a recovery in air travel [10][12] Summary by Sections Express Delivery - In September 2025, the express delivery business volume reached 16.88 billion pieces, a 12.7% year-on-year increase, with revenue of 127.37 billion yuan, up 7.2% [4][25] - Major players like SF Express and JD Logistics are expected to benefit from cyclical recovery and cost control, with significant growth potential [14] Shipping and Ports - The VLCC market may benefit from U.S. sanctions on Russian oil, potentially increasing long-distance shipping demand [6] - The shipping market is expected to see a recovery driven by environmental regulations and geopolitical stability, with recommendations to focus on companies like China Shipping and COSCO [14][15] Aviation - The aviation industry is projected to maintain steady growth, with a 10.3% increase in total transport turnover and a 5.2% rise in passenger transport volume in the first three quarters of 2025 [10] - Airbus has opened a new A320 assembly line in Tianjin, marking a significant milestone in Sino-European cooperation [9] Road and Rail - National logistics operations are running smoothly, with rail freight increasing by 2.33% and highway freight truck traffic rising by 24.72% [13] - Strategic partnerships in the highway sector are being formed to enhance service offerings and operational efficiency [13] Overall Market Performance - From October 20 to October 24, 2025, the transportation sector index increased by 1.12%, underperforming the Shanghai Composite Index, which rose by 2.88% [20][23]