Shunfeng Holding and Rabbit Express announced a strategic cross-shareholding.

On January 15th, SF Holding and Jitu Express jointly announced a strategic mutual shareholding agreement, in which they would issue new shares to each other. The total investment amount for the transaction reached 8.3 billion Hong Kong dollars. According to the agreement, SF Holding would issue 226 million H shares to Jitu Express at a price of 36.74 Hong Kong dollars per share, while Jitu Express would issue 822 million Class B shares to SF Holding at a price of 10.10 Hong Kong dollars per share. After the transaction is completed, SF Holding would hold 10% of Jitu Express shares, while Jitu Express would hold 4.29% of SF Holding shares.