Hong Kong/Shenzhen, 30 March 2026—SF Holding (06936.HK; 002352.SZ) disclosed 20 key resolutions passed at the fourth meeting of its seventh Board of Directors, highlighting a materially larger domestic share buyback, a new H-share repurchase mandate and multiple capital-allocation measures.

The Board unanimously approved the 2025 annual report for both A- and H-share markets. The H-share results announcement has been published on HKEX, with the full report due in April. The financials have cleared the Audit Committee and will be tabled at the 2025 annual general meeting (AGM).

Shareholder returns and capital structure • Final dividend: A 2025 year-end profit distribution proposal will be submitted to the AGM; details were not disclosed in the Board notice. • Interim dividend flexibility: Management will be authorised to devise a 2026 interim distribution, capped at the first-half attributable profit. • A-share buyback enlarged: The ongoing on-market repurchase programme’s budget rises to between RMB 30.00 billion and RMB 60.00 billion, doubling prior limits. The window is extended for 12 months, and all repurchased shares will now be cancelled for capital reduction rather than employee incentive use. • H-share buyback launched: A separate plan authorises up to HKD 5.00 billion for H-share repurchases within 12 months, leveraging the general mandate granted (and to be renewed) at shareholder meetings.

Financing and treasury moves • Debt capacity: The Board will seek AGM approval to adjust its general mandate for issuing debt financing instruments (details to be disclosed separately). • Guarantees: Aggregate external guarantee limits for subsidiaries are set at RMB 46.00 billion until the 2026 AGM. • Wealth-management products: Up to RMB 38.00 billion of self-owned funds may be invested in low-risk products on a revolving basis over the next 12 months. • Derivatives hedging: A ceiling of RMB 26.50 billion (including an existing RMB 7.70 billion balance) is approved for 12 months to manage currency and interest-rate exposures.

Equity and employee incentives • General issue mandate: The Board will request shareholder authorisation to issue additional H-shares up to 10 % of current share capital before the 2026 AGM. • ESOP vesting: The first tranche of the “Grow Together” A-share employee stock ownership plan met performance hurdles, converting 75.87 million virtual units into 13.91 million shares for 6,407 employees. • Senior management pay: 2026 compensation will follow an annual salary system; performance-linked pay must account for at least 50 % of total remuneration.

Auditors and use-of-proceeds adjustment • PwC Zhong Tian (domestic) and PwC (Hong Kong) are proposed for re-appointment as 2026 auditors. • Approximately RMB 9.30 billion of H-share IPO proceeds originally earmarked for international and cross-border logistics will be re-allocated to enhance domestic logistics networks.

Key dates The 2025 AGM is planned for before end-June 2026, with management authorised to finalise the exact schedule.

All resolutions passed with full or requisite majority support, underscoring Board consensus on SF Holding’s capital-return strategy, funding flexibility and operational priorities.