S.F. Holding Co., Ltd. (Stock Code: 6936) reported total revenue of 26.86 billion yuan in January 2026, reflecting a 2.22% year-on-year increase. The express logistics business contributed 20.40 billion yuan, representing a 1.77% year-on-year decrease, with parcel volume up 4.21% and revenue per parcel down 5.70%.

In contrast, the supply chain and international business recorded 6.46 billion yuan, demonstrating a 17.23% year-on-year rise. Although international ocean freight rates trended lower, the company attributed its overall performance in this segment to a diversified global network and product portfolio, as well as continued market development that capitalized on Chinese enterprises’ overseas expansion.