BUSINESS Courier giant SF Holding sees robust performance in 2019

BUSINESS

Courier giant SF Holding sees robust performance in 2019

Xinhua

15:27, March 01, 2020

SF.jpeg

Cargo is loaded onto a flight of SF Express Co Ltd in Shenzhen, Guangdong province. (File photo: China News Service)

BEIJING, March 1 (Xinhua) -- China's courier giant SF Holding reported steady growth in revenue and profits last year as new business expanded rapidly and efficiency improved, according to the firm's latest performance results.

Data showed that its annual revenue in 2019 totaled 112.19 billion yuan (about 16.01 billion U.S. dollars), up 23.37 percent year on year, making it the first courier company with over 100-billion-yuan revenue on the A-share market.

Net profits attributable to shareholders rose 27.24 percent year on year to 5.80 billion yuan in the same period thanks to new business expansion, cost reduction and efficiency improvement brought by new technologies, SF Holding said.

New business including express and supply chain sectors maintained growth momentum, while revenue from traditional business also expanded rapidly as the firm launched customer-oriented products and services.

By the end of 2019, the company's total assets stood at 92.54 billion yuan, 28.94 percent higher than that registered in the same period last year.

Meanwhile, the firm saw stable progress in January despite the impact of the coronavirus epidemic, as revenue in the supply chain reported a year-on-year increase of 455.81 percent and business volume ticked up by 40.45 percent year on year, said SF Holding.

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