On October 30, 2025, S.F. Holding Co., Ltd. (the “Company”) convened the 25th meeting of its sixth Board of Directors. The board officially approved the Company’s 2025 third quarter report, declaring the information accurate and complete with no major omissions.

The board also adjusted the Company’s 2025 first A-share repurchase plan, raising the total repurchase amount from at least RMB 5 billion and no more than RMB 10 billion to at least RMB 15 billion and no more than RMB 30 billion. In addition, the repurchase implementation deadline was extended to October 29, 2026.

In terms of equity incentives, the board consented to the cancellation of 175,062 unexercised A-share stock options under the 2022 stock option incentive plan. Following cancellation, the total number of remaining reserved stock options was adjusted from 902,818 to 727,756, of which 395,938 remain valid for exercise. The board also confirmed that the third exercise period for certain options under the 2022 plan is now effective, allowing 26 eligible participants to exercise a total of 192,438 options at RMB 39.301 per share.