Shunfeng plans to transfer the parent company of Fengwang Express to Polar Rabbit to get rid of the influence of persistent losses.

CTOnews.com May 12 news, Shun Feng Holdings issued an announcement today, the company's holding subsidiary Fengwang Holdings and Shenzhen Polar Rabbit supply chain Co., Ltd. signed an "equity transfer agreement", Fengwang Holdings plans to transfer 1.183 billion yuan, Shenzhen Fengwang Information Technology Co., Ltd. (referred to as "Fengwang Information") 100% equity. After the completion of the transaction, Fengnet Holdings no longer holds Fengwang information stake.

CTOnews.com inquiry found that Feng.com Information holds 100% equity of Fengnet Express, and Fengnet Express is the main body of the economical express business operation of the joining model.

SF Holdings said that after the completion of this transaction, the company can focus more on the development of core businesses such as domestic mid-and high-end express delivery, international express delivery, global supply chain services and digital supply chain services. At the same time, the company will continue to create e-commerce express products, the main "electric trademark fast" products steady growth, can meet the diversified needs of customers in the middle and high-end economic express market. Fengwang information is still in the early stage of development and continues to lose money, this sale can eliminate the negative impact of Fengwang information loss on listed companies.