This announcement is a separate document:
第一创业证券承销保荐有限责任公司关于南山集团有限公司要约收购恒通物流股份有限公司之财务顾问报告
First Capital Securities Underwriters Co., Ltd.'s Financial Advisory Report on the Acquisition of Hengtong Logistics Co., Ltd. by Nanshan Group Co., Ltd.
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