YTO Express Group announced that its wholly-owned subsidiary, YTO Express Co., Ltd., intends to purchase 100% equity of Guangzhou Yuanshengtong held by the controlling shareholder, Jiaolong Group, for a transaction price of 0.234 billion yuan. Guangzhou Yuanshengtong holds land and building located at No. 50, Lianglong South Street, Huashan Town, Huadu District, Guangzhou City. The company currently rents this land and building in whole and pays rent for usage as the Guangzhou transfer center operational site. This transaction constitutes a related party transaction and does not constitute a major asset reorganization. This transaction is based on the company's business development and operational planning needs. Acquiring 100% equity of Guangzhou Yuanshengtong will realize the ownership of the company's assets related to the Guangzhou transfer center, further improve the company’s transfer center layout in the Guangzhou area, promote the optimization of the company's assets in South China, and enhance the company’s control over core assets. At the same time, this acquisition can reduce the amount and frequency of related party transactions between the company and Jiaolong Group in the future, which is beneficial to safeguarding the legitimate rights and interests of the company and all shareholders.