SF Holding Co. Ltd.

HONG KONG, Jan. 15, 2026 /PRNewswire/ -- S.F. Holding Co., Ltd. ('SF Holding' or 'SF', 'the Company', 002352.SZ; 06936.HK) the largest integrated logistics service provider in Asia and the fourth largest globally, and J&T Global Express ("J&T Express" or "J&T", 1519.HK) jointly announced today that they have entered into a strategic cross-shareholding agreement involving the mutual issuance of new shares, with a total investment amount of approximately HKD 8.3 billion.

Pursuant to the agreement, SF Holding will issue 226 million H Shares to J&T Express at a Subscription Price of HKD 36.74 per share, J&T Express will issue 822 million Class B Shares to SF Holding at an Issue Price of HKD 10.10 per share. Upon completion of the transaction, SF Holding will hold 10% of the issued shares of J&T Express as enlarged by the issuance (excluding treasury shares), and J&T Express will hold approximately 4.29% of the issued shares of SF Holding as enlarged by the issuance.

"We believe this is a win-win partnership that will inject fresh momentum into the global logistics landscape. The potential synergies between SF Holding's cross-border line-haul expertise and J&T Express's localized last-mile footprint, can create significant value to the global logistics ecosystem. This can not only deepen SF's global reach and operational efficiency but also enable us to build a more agile, resilient end-to-end fulfillment network. Ultimately, this collaboration can elevate the customer end-to-end experience and advance the competitiveness of SF's products and services across the world," said Mr. Alex Ho, Executive Director and Chief Financial Officer of SF Holding.

SF Holding, as a leading integrated logistics service provider globally, has long been committed to providing integrated, end-to-end logistics solutions for its customers. While having established a leading presence in China, the Company has also made significant progress in expanding its international business. SF Holding possesses core resource advantages in areas such as cross‑border first‑mile services, line-haul transportation, warehousing, and customs clearance, and has already developed digitalized international supply chain solutions and mature operational systems. The company is determined to further enhance such expansion through strengthening the breadth of its international network coverage and the depth of its overseas localised operations. The Company believes that strategic investments with partners will help broaden its international network coverage and enhance end-to-end operational efficiency.

J&T Express is a global logistics service provider that has achieved rapid growth across multiple countries. In addition to having established scale in the China market, the J&T has accumulated rich localized operational experience and a solid network foundation in Southeast Asia, one of the world's fastest-growing regions.

The Transaction is of significant strategic importance to SF Holding. With regard to the Company's international business, on top of its core resource advantages and mature operational system in cross-border first-mile and line haul, SF Holding can also leverage J&T Express's last-mile delivery network layout in the Southeast Asia and other emerging markets and localized operational experience, further deepening the network coverage and product competitiveness of end-to-end cross-border business.

With regard to the domestic business, the two parties have significant complementary and synergistic space in network resources, customer bases, product structure and differentiation, which will help both sides expand service boundaries.

Overall, this collaboration is highly aligned with the Company's strategic direction of building an "The One in Asia, globally connected" logistics network, and will provide strong support for the Company's effort to further consolidate and enhance its comprehensive competitiveness in the Asian and global logistics markets.

About SF Holding

Founded in 1993, S.F. Holding Co., Ltd. (002352.SZ; 06936.HK) is the largest integrated logistics service provider in Asia and the fourth largest globally. Listed on the Shenzhen Stock Exchange and the Hong Kong Stock Exchange, SF Holding is the constituent stock in the CSI 300 Index, MSCI Emerging Market Index. Demonstrating a commitment to being fast, reliable, and customer-centric, the Company possesses digital technology to promote the development of intelligent and green supply chains.

For further information, please visit https://ir.sf-express.com/en/.

View original content:https://www.prnewswire.com/apac/news-releases/sf-holding-and-jt-express-enter-subscription-agreement-to-advance-international-strategy-and-enhance-global-logistics-presence-302662244.html

SOURCE S.F. Holding Co., Ltd.

• Daily parcel volume reached 43.4 million for First Half 2025, 26.4% increase year-on-year, outpacing industry average growth;
• Revenue reached RMB146.9 billion for First Half 2025, 9.3% increase year-on-year;
• The net profit attributable to owners of the parent increased to RMB5.74 billion for First Half 2025, 19.4% increase year-on-year;
• Interim cash dividend reached RMB2.32 billion, up 20.9% year-on-year, with dividend per share climbing 15.0% to RMB0.46.

SHENZHEN, China, Aug. 28, 2025 /PRNewswire/ -- S.F. Holding Co., Ltd. ('SF Holding' or 'SF' or 'the Company', 002352.SZ; 06936.HK) the largest integrated logistics service provider in Asia and the fourth largest globally, has announced its financial results for First Half 2025. The Company, which ranks 393rd on the Fortune Global 500 list, delivered robust growth, demonstrating continued market leadership and strengthened competitiveness through the successful execution of strategic initiatives.

Positioned as the go-to logistics partner for both business and retail customers, SF Holding offers comprehensive, end-to-end domestic and international logistics solutions. These include time-definite express, economy express, freight, cold chain and pharmaceutical logistics, intra-city on-demand delivery, as well as supply chain and international services. Under its "The One in Asia" Strategy, the Company continues to focus on solving complex logistics challenges, enhancing its differentiated service capabilities and driving sustainable and healthy development.

Commenting on the results, Alex Ho, Executive Director and Chief Financial Officer, said: "Despite a complex macroeconomic environment, SF delivered solid results in the First Half of 2025 by adhering to our principle of sustainable and healthy development. Leveraging our extensive network and diversified product portfolio, we enhanced service value and deepened execution of our 'Stimulate Operation Vitality' and 'Industry-Focused Transformation' initiatives. These strategies supported stronger free cash flow, sustained growing shareholder returns, and enhanced our resilience to capture emerging opportunities.

First Half 2025 Operational Highlights: Achieving High-Quality Growth with Expanded Global Presence

In the first half of 2025, SF Holding shipped 7.8 billion parcels, up 25.7% year over year, significantly outperforming the industry average of 19.3%. The Company capitalized on opportunities in emerging industries and overseas markets with two initiatives. Firstly, the Company advanced its organizationally-wide upgrade centered on the "Stimulate Operation Vitality" strategy, mobilizing enterprise-wide momentum to stimulate business expansion. By optimizing authorization, incentive, and evaluation mechanisms, the Company effectively energized individual initiative. Furthermore, the Company accelerated the "Industry-Focused Transformation" by transitioning from selling standard products to delivering customized solutions. Through the establishment of dedicated industry-specific departments, the Company boosted market share across multiple sectors.

In the domestic market, SF Holding delivered solid growth across key logistics services. Revenue from time-definite express services increased 6.8% year-on-year, outpacing China's GDP growth of 5.3%, driven by tailored solutions for consumer and manufacturing scenarios such as theme parks, concerts, and transit hubs. Economy express services achieved revenue growth of 14.4%, fueled by independent third party positioning, dynamic pricing strategies and emerging demand from proximity-based E-commerce. Freight services also maintained healthy momentum, with revenue up 11.5% bolstered by strengthened channel penetration and increased customer touchpoints across key scenarios. Benefiting from growing demand from on-demand retail, intra-city on-demand delivery maintained strong momentum with 38.9% year-on-year revenue growth.

Increasing global trade uncertainties highlight Asia's critical role as both a growth engine and center for global supply chains. Internationally, the Company capitalized on opportunities arising from the growing overseas expansion of enterprises – both in terms of products and production capacities, as well as increasing demand from cross-border consumption, expanding its global reach and market share. By providing a robust product portfolio that integrates highly reliable, standardized logistics products with comprehensive supply chain solutions, SF Holding has positioned itself as one of the preferred choices for Go-Global partners. Revenue from its international and supply chain businesses reached RMB34.2 billion, 9.7% increase year-on-year, solidifying their role as key growth drivers.

Operational Excellence Enabled by Intelligent Technology

The Company advanced structural cost reduction through initiatives like resource lean management, network structural optimization, and AI technology empowerment. Concurrently, strategic investments were directed towards enhancing customer experience, laying the foundation for long-term structural cost efficiency and sustained competitiveness. In addition, the Company operated over 1,800 logistics unmanned vehicles for last-mile transportation, easing the physical workload for staff and allowing them to focus on higher-value tasks. As a result, small parcel pickup and delivery efficiency increased by 13.7% year-on-year.

As of the end of the reporting period, SF Holding held 4,134 granted and pending patents and 2,530 software copyrights, with inventions comprising 63% of patents. This demonstrates the Company's determination to innovate and sustain competitiveness.

Robust Cash Flow Supporting Shareholder Return Commitment

The Company's free cash flow reached RMB8.7 billion for First Half 2025, up 6.1% year-on-year. This equipped the Company with strategic flexibility during different market conditions. In August 2025, the Company proposed an interim cash dividend of RMB0.46 per share - representing a 15.0% year-on-year increase and corresponding to a dividend payout ratio of 40%. The total cash dividends to be distributed amounts to approximately RMB2.32 billion, a 20.9% rise year-on-year, highlighting the Company's ongoing commitment to enhancing long-term shareholder returns. 

Business Outlook: Driving Sustainable Growth Through Smart and Industry-Focused Solutions

SF Holding will leverage its digital and intelligent logistics capabilities to create tailored solutions and modular services for diverse industries and scenarios. As a global logistics leader connecting Asia with the rest of the world, by strengthening domestic and international logistics networks and agile operational coordination, the Company is dedicated to accelerating international expansion, improving operational efficiency and promoting sustainable development throughout Asia. Driven by increasing customer demand for comprehensive logistics and end-to-end solutions, SF Holding is well-poised to reinforce its leadership as the trustworthy logistics solutions provider - all while upholding its commitment to long-term sustainable and healthy development.

About SF Holding

Founded in 1993, S.F. Holding Co., Ltd. (002352.SZ; 06936.HK) is the largest integrated logistics service provider in Asia and the fourth largest globally. Listed on the Shenzhen Stock Exchange and the Hong Kong Stock Exchange, SF Holding is the constituent stock in the CSI 300 Index, MSCI Emerging Market Index and FTSE China 50 Index. Demonstrating a commitment to being fast, reliable, and customer-centric, the Company possesses digital technology to promote the development of intelligent and green supply chains.

For further information, please visit https://ir.sf-express.com/en/.

View original content:https://www.prnewswire.com/apac/news-releases/sf-holding-reports-solid-first-half-2025-results-demonstrating-logistics-leadership-in-asia-302541036.html

SOURCE S.F. Holding Co., Ltd.