Cainiao Smart Logistics Network Limited signed an agreement to acquire an additional 25% stake in STO Express Co.,Ltd (SZSE:002468) from Shanghai De'e Industrial Development Co., Ltd. for approximately CNY 3.9 billion on June 5, 2023. Both parties agree that + 15 working days from the date of signing this agreement, the transferee will pay the transferor all the share transfer price in one lump sum. As reported, the shareholder will sell 382.7 million shares in STO Express Co.,Ltd.

Cainiao Smart Logistics Network Limited completed the acquisition of additional 25% stake in STO Express Co.,Ltd (SZSE:002468) from Shanghai De'e Industrial Development Co., Ltd. on August 31, 2023.