STO Express Co., Ltd. (002468.SZ) subsidiary plans to acquire assets of transit center transfer business worth 110 million yuan.

STO Express Co., Ltd. (002468.SZ) announced that its wholly-owned subsidiary STO Express Co., Ltd. (referred to as "Shentong Limited") intends to acquire the operating assets of the transfer business owned by Yiwu STO Express Co., Ltd. (referred to as "Yiwu Shentong") for 110 million yuan. The announcement stated that the acquisition of Yiwu Shentong's transfer business assets is an important move for the company to continue promoting the operating model of "direct operation of transfer centers, franchise of outlets". Yiwu City has a developed e-commerce industry and is also one of the important regions for express delivery. Improving the local transfer network layout is of strategic importance for expanding the local market size. After this acquisition is completed, the company will further strengthen the standardized construction, operation, and management of transfer centers, increase investment in digital intelligence for transfer centers, enhance the sorting efficiency of transfer centers, and continuously build a strong and efficient transfer transportation network system for the company.