It can be anything! An apex, subdomain, or even a URL.

Results forspf.dns.com.cn

Resolver

Location

TXT

Name	TTL	Value
spf.dns.com.cn	120	v=spf1 include:spf.chinadns.net include:spf.amail.com.cn ip4:116.198.0.0/16 ip4:116.196.0.0/16 ip4:114.67.0.0/16 ip4:106.12.0.0/16 ip4:106.13.0.0/16 ip4:182.61.0.0/16 ip4:180.76.192.0/24 -all