Faifei News Agency, Shunfeng Holdings announced that Fengwang Holdings, the company's holding subsidiary, signed an "equity transfer agreement" with Shenzhen Polar Rabbit supply chain Co., Ltd. Fengnet Holdings plans to transfer 1.183 billion yuan to Shenzhen Fengwang Information Technology Co., Ltd. (referred to as "Fengwang Information"). After the completion of the transaction, Fengnet Holdings no longer holds Fengwang information stake. Fengnet Information holds a 100% stake in Fengnet Express, which is the main body of the economical express business operation in the joining mode. Fengwang Information is still in the early stage of development and continues to lose money. After the completion of the transaction, the company can focus more on the development of core business such as domestic mid-and high-end express delivery, international express delivery, global supply chain service, digital supply chain service and so on.