S.F. Holding announced that, to continue expanding its network, quickly secure advantageous location in the last mile of express logistics, provide customers with higher quality services, and enhance end-to-end efficiency, it plans raise capital through its overseas wholly-owned subsidiary, Liangyue Limited, which holds shares in the joint-stock company HiveBox Holdings Limited.

HiveBox Holdings Limited plans to sign a "Share Purchase Agreement" and "Shareholders' Agreement" with Trustbridge Partners VII, L.P., AsiaForge (Cayman) Ltd., SCC Growth VI 2020 F, L.P., Redview Capital Investment VII Limited, All-Stars PEI ISP VI Limited, All-Stars PESP X Limited (hereinafter referred to as the "Investors") and the existing shareholders. The aforementioned investors will jointly contribute $400 million to subscribe for 483,574,899 newly issued common shares of HiveBox Holdings Limited.

CEC Capital Group served as the exclusive financial advisor for HiveBox Holdings Limited in this transaction.