Response to the Audit Inquiry Letter Regarding STO Express Co., Ltd.'s Application for Issuance of Convertible Corporate Bonds to Unspecified Objects

Stock Code: 002468 Securities Abbreviation: STO Express Listing Venue: Shenzhen Stock Exchange

Response to the Audit Inquiry Letter Regarding STO Express Co., Ltd.'s Application for Issuance of Convertible Corporate Bonds to Unspecified Objects

Sponsor (Lead Underwriter): CITIC Securities Company Limited

(North Tower, Excellence Times Plaza (Phase II), No. 8 Central Third Road, Futian District, Shenzhen, Guangdong Province)

July 2026

Shenzhen Stock Exchange:

We have received your letter, "Audit Inquiry Letter Regarding STO Express Co., Ltd.'s Application for Issuance of Convertible Corporate Bonds to Unspecified Objects" (hereinafter referred to as the "Inquiry Letter"), issued on June 17, 2026. STO Express Co., Ltd. (hereinafter referred to as "STO Express," "the Issuer," or "the Company"), together with CITIC Securities Co., Ltd. (hereinafter referred to as "the Sponsor"), Beijing King & Wood Mallesons (hereinafter referred to as "Issuer's Counsel"), and Deloitte Touche Tohmatsu Certified Public Accountants LLP (hereinafter referred to as "Reporting Accountants"), have implemented and verified the items listed in the Inquiry Letter one by one. The response is as follows for your review.

Explanation regarding the interpretation, format, and supplementary disclosure of the response content:

1. Unless otherwise specified, the abbreviations or terms used in this response are consistent with the "Prospectus for the 2026 Issuance of Convertible Corporate Bonds to Unspecified Objects of STO Express Co., Ltd. (Application Draft)";

2. If the sum of the mantissas of the totals in this response does not match the sum of the mantissas of the listed values, it is due to rounding;

3. The fonts in this response have the following meanings:

Bold: Questions listed in the Inquiry Letter

Song typeface: Responses to the questions listed in the Inquiry Letter

Kai typeface (Bold): Supplementary disclosures or revisions to the "Prospectus"

Supplementary disclosures have been made in the Prospectus regarding the content requested in the Inquiry Letter. Considering the completeness of the responses in the Inquiry Letter, there are cases of overlapping content across different questions. Therefore, when making supplementary disclosures in the Prospectus, we have considered the context and readability of the Prospectus, appropriately merging and abbreviating repetitive content, and re-arranging it according to the numbering in the Prospectus.

Table of Contents

1. Table of Contents

2. Question 1

3. Question 2

4. Question 3

5. Other Issues

Question 1

The application materials show that the total amount of funds to be raised in this issuance does not exceed 3 billion RMB, of which 2.1367015 billion RMB will be invested in the "Smart Logistics Equipment Upgrade Project" and 863.2985 million RMB will be invested in the "Mainline Transport Network Improvement Project," with a total planned investment of 4.7509238 billion RMB. The "Smart Logistics Equipment Upgrade Project" mainly involves the purchase of various smart logistics conveying equipment, automated sorting equipment, and other supporting equipment to improve the processing efficiency of express sorting and transfer operations at transfer centers and the digital intelligence level of warehousing operations. The "Mainline Transport Network Improvement Project" mainly involves the purchase of mainline transport tractor heads, trailers, etc., including new energy vehicles, to improve the loading rate of transport vehicles, reduce transport costs, and improve transport efficiency.

The impact of the new fixed asset investment from the fund-raising project on the company's operating performance is mainly reflected in the depreciation expenses of the new fixed assets, which are mainly machinery and transport equipment.