Jitu Express - W (01519): Proposed acquisition of shares in two non-wholly-owned subsidiaries

Zhitong Finance App News, Jitu Express - W (01519) issued an announcement. On December 25, 2025, the seller, New Exploration Investment, Jet Global, and Onwing Global signed a share transfer agreement I with the company. Based on this, Onwing Global (a subsidiary of the company) agreed to acquire and the seller and New Exploration Investments agreed to sell Jet Global for a total of 36.99% (as per The total consideration for shares (converted to the benchmark) is up to US$950 million.

As of the date of this announcement, the company indirectly owned about 63.81% of Jet Global's interests before the convertible notes held by New Exploration Investment were converted, or the company indirectly held about 59.44% of Jet Global's interests after the conversion, and Jet Global is a non-wholly-owned subsidiary of the company. It is recommended that once the transfer of Jet Global is completed, Jet Global will continue to be a subsidiary of the company, and Jet Global's financial results will continue to be incorporated into the company's financial statements.

On December 25, 2025, eWTP, JNT Express KSA, and J&T KSA signed a share transfer agreement II with the company. According to this, J&T KSA (a non-wholly-owned subsidiary of the company) agreed to acquire and eWTP agreed to sell about 46.55% of JNT Express KSA's shares, with a total consideration of about US$106 million.

As of the date of this announcement, the company indirectly owns approximately 53.45% interest in JNT Express KSA, which is a non-wholly-owned subsidiary of the company. It is recommended that after the transfer of JNT Express KSA is completed, JNT Express KSA will be wholly owned by the company and will continue to be a subsidiary of the company, and the financial results of JNT Express KSA will continue to be incorporated into the company's financial statements.

The proposed transfer aims to optimize the company's capital structure and create more favorable conditions for its long-term development. In view of the Group's obligation to fulfill Jet Global's investors' exit rights and eWTP withdrawal rights, negotiations were held on the terms and conditions of each share transfer agreement (including payment terms), enabling the company to diversify future cash settlement pressure by drastically extending the maturity period of its main payment obligations, so as to enhance the company's financial flexibility.