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Announcement of Annual Results of the Group for the Year Ended 31 December 2020

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Announcement of Annual Results of the Group for the Year Ended 31 December 2020 Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. (A joint stock limited company incorporated in the People’s Republic of China with limited liability) (Stock Code: 0598) ANNOUNCEMENT OF ANNUAL RESULTS OF THE GROUP FOR THE YEAR ENDED 31 DECEMBER 2020 The board of directors (the “Board”) of Sinotrans Limited (the “Company”) is pleased to announce the audited consolidated results of the Company and its subsidiaries (collectively the “Group”) for the year ended 31 December 2020, which have been prepared in accordance with China Accounting Standards for Business Enterprises. This announcement, including the full text of the 2020 Annual Report of the Company, complies with the relevant requirements of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited in relation to information to accompany preliminary announcement of annual results. Printed version of the Group’s 2020 Annual Report will be sent to H shareholders of the Company on or before 30 April 2021 and available for viewing on the websites of The Stock Exchange of Hong Kong Limited at www.hkex.com.hk and of the Company at www.sinotrans.com at the same time. Stock Code: 0598HK 601598SH ANNUAL REPORT 2020 CUSTOMERS’ SUCCESS OUR ACHIEVEMENT 2020 ANNUAL REPORT ANNUAL REPORT 2020 1 Important Notice 1. The Board and the Supervisory Committee of the Company and the Directors, Supervisors and members of the Senior Management warrant the truthfulness, accuracy and completeness of the contents in this Annual Report and confirm that there are no misrepresentations or misleading statements contained in or material omissions from this Annual Report, and accept several and joint legal responsibilities. 2. Absent Directors Position of the Name of the Reason for the absent Director absent Director absence of the Director Name of the proxy Executive Director Song Rong Other business engagement Li Guanpeng Non-executive Director Su Jian Other business engagement Xiong Xianliang 3. ShineWing Certified Public Accountants LLP has issued a standard auditors’ report with unqualified opinions for the Company. 4. The Company’s legal representative, Li Guanpeng; Chief Financial Officer, Wang Jiuyun; and the person in charge of the Financial Department (“person in charge of accounting”), Mai Lina, hereby make the statement that they warrant the financial statements contained in this Annual Report are true, accurate and complete. 5. Proposal for profit distribution or proposal for conversion of common reserve fund into share capital during the Reporting Period considered by the Board The proposed annual dividend for 2020 is RMB1.2 per 10 shares (tax included) (i.e. RMB0.12 per share, tax included) to the total share capital base of 7,400,803,875 shares as at 31 December 2020. Total dividend allotment is RMB888,096,465.00 (tax included), and the remaining profits are recognized as retained earnings. The Company will not distribute shares or convert any reserve into shares this year. The proposal will be submitted to the general meeting of shareholders for approval. 6. Risk disclaimer of forward-looking statements 3 Applicable □ Not applicable Forward-looking statements including future plans and development strategies in this Report do not constitute substantive commitments of the Company to investors. Investors should be aware of the investment risks. 7. Whether the controlling shareholder or its related parties has misappropriated the Company’s funds for purposes other than for business No 8. Whether the Company has provided external guarantees in violation of any prescribed decision-making procedures No 9. Whether more than half of the Directors cannot ensure the truthfulness, accuracy and completeness of the Annual Report No 10. Significant risk alert The Company has described the potential risks in detail in this Report. Please refer to “Chapter 5 Management Discussion and Analysis of Business Performance (Report of the Board) – III. DISCUSSION AND ANALYSIS OF THE FUTURE DEVELOPMENT OF THE COMPANY – (IV) Potential risks” in this Report. 11. Others 3 Applicable □ Not applicable The Company’s 2020 financial report has been prepared in accordance with Accounting Standards for Business Enterprises published by the Ministry of Finance of the People’s Republic of China and related provisions. Unless otherwise specified, the reporting currency in this Report is Renminbi (“RMB”). Contents contained in this Report are prepared in compliance with all disclosure requirements of the SSE Listing Rules and SEHK Listing Rules. The Report is published in both Chinese and English versions in Mainland China and Hong Kong at the same time. Should there be any discrepancies between the Chinese and English versions of this Report, the Chinese version shall prevail. Corporate Mission Creating a logistics ecology system connecting the world to successfully promote industrial progress Corporate Vision Becoming a world-class intelligent logistics platform enterprise CONTENTS Performance Highlights and Major Events in 2020 4 Chapter 1 Definitions 6 Chapter 2 General Company Information and Key Financial Indicators 9 Chapter 3 Chairman’s Statement 16 Chapter 4 Business Overview 19 Chapter 5 Management Discussion and Analysis of Business Performance (Report of the Board) 32 Chapter 6 Significant Matters 72 Chapter 7 Changes in Ordinary Shares and Particulars of Shareholders 106 Chapter 8 Particulars of Preferred Shares 118 Chapter 9 Directors, Supervisors, Senior Management and Employees 119 Chapter 10 Corporate Governance (Corporate Governance Report) 144 Chapter 11 Corporate Bonds 168 Chapter 12 Financial Report 173 Chapter 13 Documents Available for Check 492 4 SINOTRANS LIMITED Performance Highlights and Major Events in 2020 Earnings per share, Operating income net of non-recurring gains or losses (RMB billion) (RMB per share) 84.54 0.32 9% 12% Air freight business Segment profit (including air freight forwarding and cross-border e-commerce logistics) Logistics Regular Charter 5% 478 flights Business volume Forwarding and related business 19% Air freight forwarding E-commerce business 532.3 thousand tons 174% 6% Cross-border e-commerce logistics Business volume of China Europe Railway Express 269.86 million units 50% 23% Total segment profit Business volume of “Sinotrans E-LCL” 218% 27% Core direct customers Percentage of the Number 872 revenue contribution 34% ANNUAL REPORT 2020 5 Major Events in 2020 Performance Highlights and Major Events in 2020 Responding in no time, Sinotrans operated Completing the acquisition of 100% Launching the first overseas hub the emergency logistics platform of stake of KLG Group, Sinotrans in South-East Asia, “Sinotrans “anti-pandemic material deliver”. The realized the breakthrough in grand E-LCL” moved forward in the path “Volunteer Logistics Team of Emergency operation network in Europe of providing end-to-end full chain Deliver” was honored as “the National LCL service to customers globally Exemplary Team of Fighting Against the Pandemic” 2020 June 2020 September 2020 2020 2020 August January February Being the first in the industry, Sinotrans launched the first cargo plane modified from passenger plane, and resumed the Hangzhou- Liège charter plane in no time Launching the “Bay Area” Railway Express, Sinotrans to open the air channel between China and continued to solidify the cross-border railway express Europe platforms to build a strategic land channel to secure the stability of international supply chain Signing the first domestic block-chain Investing in the equity of China Southern Sinotrans started to technology backed digital NVOCC bill- Airlines Logistics, Sinotrans further provide logistics service of-lading, Sinotrans further promoted the deepened the relationship with a strategic for anti COVID-19 innovation of trust system in the circulation partner and provided help to the construction vaccines, and successfully process, the sales channel, the business of efficient, convenient, stable and leading air completed the logistics model, and the settlement of the sea transportation channel service to Macao SAR and freight forwarding industry Djibouti 2020 December 2020 2020 2021 September October Q1 “Human-Machine Coordinated Digitalized Warehouse Solution” of Sinotrans was 2020 honored the first prize in the first China December Digitalized Warehouse Solution Competition. By collaborating human-machine coordination solution with business application scenarios, Sinotrans optimized business procedure Implementing the “science reform and elevated the operational efficiency. In demonstration action” in its subsidiary, 2020, the technology promoted the average Y2T Technology Co., Ltd., completing the handling capacity per capita to increase by introducing of a strategic investor and the more than 30% in the customs sharing center employee stock ownership plan, Sinotrans of Sinotrans, and also supported “Sinotrans further stimulated the technology creativity E-LCL” operational efficiency to increase by ability more than 10% 6 SINOTRANS LIMITED Chapter 1 Definitions In this report, unless the context otherwise indicates, the following words have the following meanings: Definition of frequently used terms A Share(s) the Domestic
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