Shentong Express announced that its wholly-owned subsidiary Shentong Express Co., Ltd. plans to acquire 100% of the shares of Zhejiang Danniao Logistics Technology Co., Ltd. held by Zhejiang Cainiao Supply Chain Management Co., Ltd., Hangzhou Ali Venture Capital Co., Ltd., and Alibaba Network Technology Co., Ltd. in cash, with a transaction consideration of 362 million yuan. The transaction was reviewed and approved by the 12th meeting of the 6th board of directors of the company, and there is no need to submit it to the shareholders' meeting for consideration. The counterparty to the transaction is a related party of the company. This transaction constitutes a related transaction, but it does not constitute a major asset restructuring as stipulated in the “Administrative Measures on Major Asset Restructuring of Listed Companies”.

Shentong Express announced that its wholly-owned subsidiary Shentong Express Co., Ltd. plans to acquire 100% of the shares of Zhejiang Danniao Logistics Technology Co., Ltd. held by Zhejiang Cainiao Supply Chain Management Co., Ltd., Hangzhou Ali Venture Capital Co., Ltd., and Alibaba Network Technology Co., Ltd. in cash, with a transaction consideration of 362 million yuan. The transaction was reviewed and approved by the 12th meeting of the 6th board of directors of the company, and there is no need to submit it to the shareholders' meeting for consideration. The counterparty to the transaction is a related party of the company. This transaction constitutes a related transaction, but it does not constitute a major asset restructuring as stipulated in the “Administrative Measures on Major Asset Restructuring of Listed Companies”.