CITIC Securities Company Limited Regarding STO Express Co., Ltd. 2026 Issuance of Convertible Corporate Bonds to Unspecified Targets Issuance Sponsorship Letter
[Chart: CITIC Securities Logo]
North Tower, Excellence Times Plaza (Phase II), No. 8 Central Third Road, Futian District, Shenzhen, Guangdong Province
July 2026
Statement
CITIC Securities Company Limited (hereinafter referred to as "CITIC Securities," "Sponsor," or "this Sponsor") has been engaged by STO Express Co., Ltd. (hereinafter referred to as "STO Express," "Issuer," or "Company") to act as the sponsor for the Company's 2026 issuance of convertible corporate bonds to unspecified targets and to issue this issuance sponsorship letter.
The Sponsor and the designated sponsor representatives have acted in accordance with the Company Law of the People's Republic of China, the Securities Law of the People's Republic of China, the Administrative Measures for the Registration of Securities Issuance by Listed Companies, the Administrative Measures for the Sponsorship of Securities Issuance and Listing, and other relevant laws, regulations, and provisions of the China Securities Regulatory Commission and the Shenzhen Stock Exchange. We have acted with honesty, integrity, and due diligence, strictly following established business rules, industry practice standards, and ethical codes to issue this sponsorship letter, and we guarantee the truthfulness, accuracy, and completeness of the documents issued. If the documents produced or issued by the Sponsor for the Issuer's issuance contain false records, misleading statements, or major omissions, causing losses to investors, the Sponsor will compensate investors for their losses in accordance with the law.
Unless otherwise specified, all abbreviations and definitions in this document are consistent with the Prospectus for the 2026 Issuance of Convertible Corporate Bonds to Unspecified Targets of STO Express Co., Ltd.
Table of Contents
Statement 1
Table of Contents 2
Section I Basic Information on this Securities Issuance 3
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Name of Sponsor 3
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Information on Sponsor Representatives Designated for Recommendation 3
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Project Coordinator and Other Project Team Members 3
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Basic Information of the Issuer 3
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Affiliation between Sponsor and Issuer 7
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Internal Review Procedures and Opinions of the Sponsor 9
Section II Sponsor's Commitments 10
Section III Sponsor's Recommendation Opinions on this Securities Issuance 11
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Decision-making Procedures for this Securities Issuance 11
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Compliance of this Stock Issuance with Relevant Laws 12
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Verification Opinions on Paid Employment of Third-party Institutions and Individuals 23
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Major Risk Warnings for the Issuer 25
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Verification Opinions on Dilution of Immediate Returns and Remedial Measures 33
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Evaluation of the Issuer's Development Prospects 33
Attachment I 39
Section I Basic Information on this Securities Issuance
1. Name of Sponsor
CITIC Securities Company Limited
2. Information on Sponsor Representatives Designated for Recommendation
CITIC Securities has designated Zhou Jiang and Bai Rixing as the sponsor representatives for STO Express's issuance of convertible corporate bonds to unspecified targets. Their primary professional experience is as follows:
Zhou Jiang, male, currently Senior Vice President of the Global Investment Banking Management Committee of CITIC Securities, sponsor representative. Projects previously responsible for or primarily involved in include: refinancing projects for China Eastern Airlines, China Merchants Energy Shipping, Yunda Holding, China Metallurgical, and China Communications Construction; major asset swaps and share issuance for asset purchases for Dingtai New Material (SF Holding restructuring and listing), Wuhan Zhongshang (Juran Zhijia restructuring and listing), and China Merchants Energy Shipping.
Bai Rixing, male, currently Senior Vice President of the Global Investment Banking Management Committee of CITIC Securities, sponsor representative. Projects previously responsible for or primarily involved in include: refinancing projects for Air China, Hainan Airlines, China Merchants Port, and Air China Cargo; share swap absorption of Yingkou Port by Dalian Port, Jianfa Shares' acquisition of Red Star Macalline's controlling interest, and Huaxia China Resources Commercial REIT.