On 30 March 2026, SF Holding’s seventh-session board approved significant amendments to the 2025 First A-Share Repurchase Plan, doubling the planned outlay to between RMB3.00 billion and RMB6.00 billion and converting the end-use of repurchased shares from employee incentive schemes to outright cancellation and registered-capital reduction. The repurchase window is reset to 12 months from the latest board approval date.

The decision follows two previous revisions. Initially launched on 28 April 2025 with a RMB0.50 billion–RMB1.00 billion budget, the plan was raised to RMB1.50 billion–RMB3.00 billion on 30 October 2025. As of the latest announcement, SF Holding has repurchased 61.81 million A shares, equal to roughly 1.2 % of total share capital, at a total consideration of about RMB2.40 billion (excluding transaction costs). The price ceiling remains RMB59.10 per share after dividend-adjusted reductions from the original RMB60.00 cap.

Management states that the enlarged buyback and subsequent share cancellation are designed to improve earnings per share and strengthen investor confidence without materially affecting operations or financial stability. Implementation of the share-cancellation component requires shareholder approval at a forthcoming general meeting, after which the company will continue to disclose progress in accordance with regulatory requirements.