Delivery and Freight Giant SF Gains CNY 15.59 Bn Revenue in January 2021

On February 19, 2021, SF Express released the operating result for its express services in January 2021. The operating revenue of its express logistics business reached CNY 15.59 billion, up 39.80% year-on-year. In the first month of 2021, the company received 903 million orders, a surging of 59.54% year-over-year, while the profitability per order declined 12.39% to CNY 17.26 compared with the level in January 2020.

 Meanwhile, according to the company's announcement, the revenue of express logistics and supply chain in January 2021 increased by 40.91% compared with the same period in 2020. The outstanding performance is substantially due to the growth of limited products and special products.

 In addition to its remarkable operating result, the company is speeding up its expansion. On February 10, SF Express announced it would acquire 931 million shares of Kerry Logistics, accounting for 51.8% of the issued share capital, through its wholly-owned subsidiary, Flourish Harmony. Since the acquisition, SF has become the controlling shareholder of Kerry Logistics. According to a person who is familiar with the thing, the large logistics company plans to improve and expand its international business.