Core Viewpoint - Aneng Logistics, a Hong Kong-listed express delivery giant, plans to privatize and delist by offering HKD 12.18 per share, representing a nearly 30% premium over its last trading day valuation, marking the highest valuation since its listing in November 2021 [1][3][7]. Company Summary - The privatization proposal is backed by a consortium of investors including Da Ju Capital, Temasek, and True Light, with a total valuation of approximately HKD 14.3 billion (around RMB 13.07 billion) [1][3]. - Founder and CEO Qin Xinghua will cash out approximately HKD 11.83 million and transition to a senior advisory role, stepping down from all core management positions [1][5]. - The company has secured over HKD 12.57 billion in funding for the privatization through acquisition financing and cash contributions from consortium members [3][5]. Financial Performance - Aneng Logistics reported a revenue of RMB 5.625 billion for the first half of 2025, a 6.4% increase year-on-year, with an adjusted net profit of RMB 476 million, up 10.7% [9]. - The company achieved a gross profit of RMB 879.85 million, with a gross margin of 15.6% [9]. - The total volume of less-than-truckload freight reached 6.82 million tons, reflecting a 6.2% year-on-year growth [9]. Market Context - The privatization aims to relieve the company from short-term performance pressures and compliance costs associated with being publicly listed, allowing for a focus on long-term strategic initiatives [7]. - The express delivery market remains highly competitive, with Aneng Logistics facing challenges from both established players and new entrants [9].