On August 29, Chinese express giant SF Holdings released its interim report for 2023, which showed that the company achieved a total revenue of RMB 124.366 billion ($171 billion) in the first half of the year, marking a 4.38% year-on-year decrease. The net profit attributable to shareholders was RMB 4.177 billion, representing an increase of 66.23% year-on-year. Of the total revenue (net of taxes), the time-definite express business sector earned RMB 56.07 billion, a 13.8% year-on-year growth. The economy express sector achieved a revenue of RMB 12.13 billion, a 2.7% year-on-year growth. Revenue from the freight business was RMB 15.12 billion, a 15% year-on-year growth. The firm’s cold chain and pharmaceuticals delivery business saw a remarkable growth of 31.3% with RMB 5.34 billion. Intra-city on-demand delivery service achieved a revenue of RMB 3.34 billion, a growth of 16.2%. However, the company’s supply chain and international business segment experienced a year-on-year decline of 38% with RMB 28.86 billion. Last week, SF Holding, which has already gone public on the Shenzhen Stock Exchange, submitted an application to seek another IPO in Hong Kong. [SF Holding filing]
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