SF Holding Reclassifies 117.67 Million A-Share Treasury Stock; Buybacks Pending Cancellation Rise to 122.26 Million Shares

Bulletin Express05-20

SF Holding Co., Ltd. (SF Holding) filed a Next Day Disclosure Return with the Hong Kong Stock Exchange on 20 May 2026, detailing significant movements in its A-share capital and the latest progress of its 2025 First A-Share Repurchase Plan.

Key points 1. Reclassification of earlier repurchases • On 20 May 2026, 117.67 million previously repurchased A shares were reclassified from “treasury shares” to “shares repurchased for cancellation but not yet cancelled.” • As a result, the number of treasury shares fell to zero, while issued A shares (excluding treasury shares) increased by 2.51 % to 4.80 billion. Total A-share capital remained unchanged at 4.80 billion.

2. Ongoing share-buyback activity • Between 3 September 2025 and 20 May 2026 the company accumulated 122.26 million A shares pending cancellation, equivalent to approximately 2.55 % of the current A-share base. • Purchase prices during this period ranged from RMB 35.06 to RMB 42.01 per share.

3. Latest repurchase transaction (20 May 2026) • Shares bought: 4.59 million • Trading venue: Shenzhen Stock Exchange • Price range: RMB 35.06 – RMB 35.95 per share • Cash outlay: RMB 162.77 million • These shares are designated for cancellation.

4. Repurchase mandate background • The 2025 First A-Share Repurchase Plan was approved on 28 April 2025 and subsequently adjusted on 30 October 2025 and 30 March 2026. • At the 2025 annual general meeting, shareholders resolved to cancel all repurchased shares, shifting the original purpose from employee incentive schemes to capital reduction.

Capital structure snapshot (20 May 2026) • A shares issued (excluding treasury): 4.80 billion • H shares issued: 240.00 million • Total issued shares: 5.04 billion • Treasury shares: 0 • Repurchased A shares awaiting cancellation: 122.26 million

Implications The reclassification eliminates treasury shares from SF Holding’s books and confirms the company’s intention to reduce its registered share capital once the 122.26 million repurchased A shares are formally cancelled. The share count adjustments will be reflected after the cancellation is completed, subject to regulatory procedures.

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