On 30 March 2026, SF Holding Co., Ltd. released its “2025 Internal Control Self-Evaluation Report” through CNINFO in compliance with Hong Kong Stock Exchange Rule 13.10B. The Board affirmed that, as at the evaluation benchmark date of 31 December 2025, the group maintained effective internal controls across financial and non-financial reporting, with no material or significant deficiencies identified.

The assessment was conducted under the “Basic Standards for Enterprise Internal Control” and related PRC guidelines. Coverage encompassed entities representing approximately 99% of consolidated assets and 99% of consolidated revenue, including the headquarters, Industrial Park Operations Center, SF Airlines, SF Technology, SF Express, SF Freight, SF Cold Chain, SF Pharmaceutical, SF International, Fenghao Supply Chain, SF Intra-City, and Kerry Logistics Network. Evaluated processes spanned organisational structure, strategic planning, human resources, capital activities, procurement, asset management, sales, R&D, engineering projects, contract and guarantee management, outsourcing, financial reporting, budgeting, and information systems, with heightened scrutiny on high-risk areas such as capital, procurement, sales, and projects.

Deficiency thresholds were set at 5% of consolidated pre-tax profit for “major” and 3%–5% for “significant” issues. The Board reported:

• Financial reporting controls: No major or significant deficiencies detected; controls deemed effective in all material respects. • Non-financial reporting controls: No major or significant deficiencies detected. • Post-evaluation events: No circumstances arose after 31 December 2025 that would alter these conclusions.

The Audit Committee supervised the evaluation, and senior management oversaw day-to-day control operations. The Board emphasised that, despite inherent limitations of any control system, current arrangements provide reasonable assurance of compliance, asset safety, reliable reporting, and operational efficiency.