By BAI Fan
Chinese courier SF Holding has the go-ahead for listing in Hong Kong. On completion, SF will become the first express delivery company listed in both the Chinese mainland and Hong Kong.
Established in 1993 and listed on the A-share market in 2017, SF needs international investors to expand its financing channels. With a current market value of over 240 billion yuan (US$33 billion), SF leads domestically but is still far behind international giants like UPS and FedEx.
SF's profitability is impressive, with more than 4 billion yuan expected to flood in during H1, year-on-year growth of around two-thirds.
Since its first entry into the international market in 2010 and the acquisition of Kerry Logistics in 2021, SF has expanded overseas. The courier is shifting away from e-commerce to more high-value areas like cold chain and express delivery. SF Airlines has 83 aircraft, more than JD.com and China Postal.
