順豐控股股份有限公司 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. （於中華人民共和國註冊成立的股份有限公司） （股份代號：6936） 2026 年 2 月快遞物流業務經營簡報 根據《深圳證券交易所上市公司自律監管指引第3號 —— 行業信息披露》的規 定，順豐控股股份有限公司（以下簡稱「公司」或「本公司」）現披露2026年2月業 務經營簡報情況如下： | 項目 | | 2026年2月 | 2025年2月 | 同比變動 | | --- | --- | --- | --- | --- | | 1. | 速運物流業務 | | | | | | 營業收入 （人民幣億元） | 164.21 | 131.49 | 24.88% | | | －業務量 （億票） | 10.72 | 9.16 | 17.03% | | | －單票收入 （人民幣元） | 15.32 | 14.35 | 6.76% | | 2. | 供應鏈及國 ...

Group 1: Financial Performance - The company reported a loss of 26.33 million in 2025, primarily due to bad debt provisions and litigation impacts [2][3] - The company aims to improve its performance in 2026 by enhancing market development efforts and exploring new business areas [5][6] Group 2: Business Operations - The company currently does not have operations in the Middle East or plans for low-altitude economy development [2][4] - The company is focused on expanding multimodal transport services and advancing logistics information technology as part of its development strategy [5] Group 3: Market Position - The company's stock price has seen significant growth, attributed to various factors, with the management team committed to ensuring stable development to support stock performance [3] - The company acknowledges a contraction in its supply chain and third-party logistics business, which has contributed to its financial losses [5]

Core Viewpoint - The company, Xinjiang Tianshun Supply Chain Co., Ltd., reported a significant decline in revenue and a net loss for the year 2025, indicating challenges in the external market environment and operational pressures [1] Financial Performance - The company achieved an operating revenue of 1,136.81 million yuan, a year-on-year decrease of 25.69% [1] - The net profit attributable to the parent company was -23.83 million yuan [1] Business Operations - The company maintained a steady development in its air logistics segment despite the overall decline in revenue [1] - The coal market faced downward pressure due to supply-demand dynamics, leading to a decrease in coal prices and a contraction in the company's supply chain and third-party logistics businesses [1] Future Strategy - The company plans to expand its multimodal transport services, including air, rail, road, and maritime logistics, while continuing to enhance logistics information technology [1] - The company aims to achieve internal growth through improved management, business expansion, and cost reduction, alongside pursuing external growth via investments, mergers, and partnerships [1]

Core Viewpoint - The company reported a total revenue of RMB 26.86 billion for January 2026, reflecting a year-on-year growth of 2.22% in its express logistics and supply chain and international business segments [1][2]. Group 1: Business Segments - The express logistics business includes time-sensitive express, economy express, freight, cold chain, pharmaceutical, and same-city instant delivery services [1]. - The supply chain and international business primarily encompass international express, international freight and agency, and supply chain services [1]. - The company achieved a year-on-year revenue growth of 17.23% in its supply chain and international business, driven by the growth in international freight forwarding, supply chain, international express, and cross-border e-commerce logistics [2]. Group 2: Strategic Focus - The company emphasizes sustainable and healthy development, upgrading its operational mechanisms, and dynamically adjusting market strategies to meet diverse customer logistics needs and pursue high-quality business growth [1]. - Despite a decline in international shipping prices affecting the growth rate of international freight and agency business, the company leveraged its global network and diverse product offerings to adapt to market changes and seize new opportunities for enterprises going abroad [2].

Core Viewpoint - SF Holding (002352.SZ) reported a revenue of 20.396 billion RMB for its express logistics business in January, with a total revenue of 26.860 billion RMB from express logistics, supply chain, and international business, reflecting a year-on-year growth of 2.22% [1] Group 1: Business Performance - The company maintains a sustainable and healthy development approach, enhancing operational mechanisms and dynamically adjusting market strategies to meet diverse logistics needs with high-quality services [1] - Despite a year-on-year decline in international shipping prices affecting the growth rate of international freight and agency business revenue, the company leveraged its global network and diverse product offerings to adapt to market changes and seize new opportunities for enterprises going abroad, resulting in a year-on-year increase in international freight forwarding revenue [1] - Revenue from supply chain business, international express, and cross-border e-commerce logistics maintained rapid growth, driving a year-on-year increase of 17.23% in overall supply chain and international business revenue [1]

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。 1 1. 速運物流業務：主要包括公司的時效快遞、經濟快遞、快運、冷運及醫藥，及同城即時 配送業務板塊。 2. 供應鏈及國際業務：主要包括公司的國際快遞、國際貨運及代理，及供應鏈業務板塊。 3. 以上收入不含公司其他非物流業務收入。 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） （股份代號：6936） 2026 年 1 月快遞物流業務經營簡報 根據《深圳證券交易所上市公司自律監管指引第3號 —— 行業信息披露》的規 定，順豐控股股份有限公司（以下簡稱「公司」或「本公司」）現披露2026年1月業 務經營簡報情況如下： | 項目 | | 2026年1月 | 2025年1月 | 同比變動 | | --- | --- | --- | --- | --- | | 1. | 速運物流業務 | | | | | | （人民幣億元） 營業收入 | 203.96 ...

Core Viewpoint - Pacific Securities forecasts that Xiaocaiyuan (00999) will achieve net profit attributable to shareholders of 716 million yuan, 910 million yuan, and 1.143 billion yuan for 2025-2027, with year-on-year growth rates of 23%, 27%, and 26% respectively, and expects EPS of 0.61 yuan, 0.77 yuan, and 0.97 yuan for the same period, with PE ratios of 15X, 12X, and 9X respectively, maintaining a "Buy" rating due to the company's rapid store expansion and proactive adjustments [1] Group 1: Joint Venture and Business Expansion - The company announced the establishment of a joint venture, in which Xiaocaiyuan holds a 70% stake, focusing on four main areas: (1) omnichannel e-commerce + local life; (2) supply chain business; (3) quality lifestyle stations (small stores); and (4) fourth-party distribution business, aiming to explore new business formats, models, and products during operations [1][2] - The joint venture is expected to enhance brand reach and revenue flexibility in the medium term, while short-term focus should be on the pace of implementation and efficiency of input-output [2] Group 2: Operational Adjustments - The company has proactively adjusted its business model by reducing the proportion of takeaway orders and lowering prices for core dishes, decreasing takeaway revenue share from nearly 40% to about 30%-35%, with an average order value of approximately 70 yuan, which may temporarily suppress same-store sales, revenue, and profits, but aims to optimize customer structure and dining experience [3] - This adjustment is expected to lead to a healthier "quality-price ratio" path for the business model [3] Group 3: Store Network and Regional Expansion - By the end of 2025, the company plans to have over 810 stores, a net increase of over 143 from the end of 2024, with a target of approximately 1,000 stores by 2026, all adopting a direct-operated model [4] - The expansion strategy includes both densifying existing areas and gradually entering new regions, with a clear national layout characterized by high density in East and Central China, including core areas such as Jiangsu (267 stores), Anhui (144 stores), and Shanghai (78 stores), while also entering regions like Beijing-Tianjin-Hebei, Shandong, and Hubei [4]

Group 1 - The company expects a negative net profit for the fiscal year 2025, covering the period from January 1, 2025, to December 31, 2025 [1] - The company has communicated with the accounting firm regarding significant matters related to the profit forecast, but the forecast has not undergone pre-audit by the accounting firm [1] - The main reasons for the performance change include a decline in supply chain business due to market and end-user demand, while the cultural tourism business has seen operational improvements [1] Group 2 - The fair value change of investment properties is expected to range from -102.9 million to -72.9 million, which is classified as a non-recurring loss item [1] - The company is currently undergoing an audit for the fiscal year 2025, with the annual report scheduled for disclosure on April 29, 2026 [2]

Group 1 - The core viewpoint of the announcement is that SF Holding Company reported a total revenue of RMB 27.339 billion for December 2025, reflecting a year-on-year growth of 3.41% [2] - The express logistics business revenue increased by 3.78% year-on-year, with a business volume growth of 9.33%, indicating a focus on sustainable and high-quality service delivery to meet diverse customer logistics needs [2] - The international freight forwarding business faced challenges due to fluctuations in international trade and a decline in shipping prices compared to the previous year, but the company maintained stable cargo volumes through its global network and product offerings [2] Group 2 - The company is actively optimizing its market strategy to pursue high-quality business growth while adapting to market changes and seizing new opportunities for enterprises going global [2] - The revenue from international express and cross-border e-commerce logistics maintained a rapid growth year-on-year, showcasing the company's resilience in the face of market fluctuations [2] - The data provided is unaudited and may differ from periodic report data, serving as a reference for investors [1]

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 根據《深圳證券交易所上市公司自律監管指引第3號 —— 行業信息披露》的規 定，順豐控股股份有限公司（以下簡稱「公司」或「本公司」）現披露2025年12月 業務經營簡報情況如下： | 項目 | | 2025年12月 | 2024年12月 | 同比變動 | | --- | --- | --- | --- | --- | | 1. | 速運物流業務 | | | | | | （人民幣億元） 營業收入 | 203.78 | 196.36 | 3.78% | | | －業務量 （億票） | 14.76 | 13.50 | 9.33% | | | （人民幣元） －單票收入 | 13.81 | 14.55 | -5.09% | | 2. | 供應鏈及國際業務 | | | | | | （人民幣億元） 營業收入 | 69.61 | 68.01 | 2.35% ...