Shengfeng Development Limited Strengthens Strategic Alliance with CATL to Pioneer New Energy Logistics Solutions

FUZHOU, China, April 22, 2025 /PRNewswire/ -- Shengfeng Development Limited (NASDAQ: SFWL) ("Shengfeng" or the "Company"), a leading integrated logistics solutions provider in China, today announced a multi-year strategic partnership with Contemporary Amperex Technology Co., Limited (CATL) (SZSE: 300750), a global leader in lithium-ion battery innovation (the "Partnership"). The collaboration which is expected to be valued at approximately 300 million RMB ($42 million USD), reinforces Shengfeng's pivotal role in advancing CATL's global clean energy supply chain and underscores its leadership in China's rapidly evolving new energy logistics sector.

Leveraging Infrastructure Excellence for Industry (New Energy) Transformation

Initiated in March 2025, the Partnership builds on Shengfeng's expertise in large-scale smart logistics infrastructure, including Ningde Shengfeng Smart Logistics Center—one of the Company's flagship facilities operational since late 2024 (the "Center"). Designed with advanced automation and tailored energy storage solutions, the Center has become a cornerstone of CATL's regional operations. Pursuant to the agreement between Shengfeng and CATL, Shengfeng will manage nationwide transportation and distribution of CATL's battery components and finished products, utilizing proprietary technologies to enhance supply chain efficiency and reliability.

Yongxu Liu, Chairman and CEO of Shengfeng, highlighted the strategic value of the Partnership:

"Our alliance with CATL represents a convergence of vision and capability. By integrating our intelligent logistics platform with CATL's groundbreaking energy technologies, we are redefining sustainable supply chain practices for the new energy era."

Innovation-Driven and Sustainable Execution

Shengfeng's operational framework emphasizes sustainability and technological innovation:

• Eco-Friendly Fleet Integration: Gradual adoption of alternative energy vehicles for dedicated CATL logistics operations.
• Enhanced Supply Chain Visibility: Implementation of real-time tracking systems to ensure end-to-end transparency.
• Adaptive Logistics Networks: Data-driven optimization of warehousing and transportation resources to meet dynamic industry demands.

These initiatives not only align with both companies' environmental stewardship commitments but also actively contribute to accelerating the transition towards low-carbon supply chains across industries.

Strategic Synergy and Market Leadership in the New Energy Sector

With decades of experience spanning hundreds of cities nationwide, Shengfeng's extensive network complements CATL's expansive production and distribution footprint. The Partnership is expected to significantly contribute to Shengfeng's growth trajectory while reinforcing its position as a preferred logistics partner in the high-potential new energy sector.

Charting the Future of Intelligent Logistics

Beyond immediate operational enhancements, Shengfeng and CATL are exploring collaborative innovation in next-generation logistics technologies. Pilot programs for emerging solutions, such as smart transportation systems, are under discussion to further align with the evolving needs of the global energy transition.

"This Partnership is a platform for our continuous innovation," added Mr. Liu. "Together, we aim to build agile, sustainable supply chains that set new industry benchmarks."

About Shengfeng Development Limited

Shengfeng Development Limited is a contract logistics company in China providing customers with integrated logistics solution services. Established in 2001, the Company has developed extensive and reliable transportation networks in China, covering 382 cities across 32 provinces, as of March 31, 2025. The Company provides integrated logistics solutions comprised of B2B freight transportation services, cloud storage services, and value-added services. The Company applies well-established management system and operation procedures to assist companies in China to increase efficiency and improve their own management systems with respect to transportation, warehousing and time management. For more information, please visit the Company's website: http://ir.sfwl.com.cn/.

Forward-Looking Statements

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's ability to achieve its goals and strategies, the Company's future business development and plans for future business development, including its financial conditions and results of operations, product and service demand and acceptance, reputation and brand, the impact of competition and pricing, changes in technology, government regulations, fluctuations in general economic and business conditions in China, and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the U.S. Securities and Exchange Commission ("SEC"). For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, including under the section entitled "Risk Factors" in its annual report on Form 20-F filed with the SEC on March 28, 2025, as well as its current reports on Form 6-K and other filings, all of which are available for review at www.sec.gov.  Except as required by law, the Company undertakes no obligation to publicly update any forward-looking statements, whether because of new information, future events or otherwise. The Company claims the protection of the safe harbor for forward-looking statements contained in the Act for all forward-looking statements.

SOURCE Shengfeng Development Limited