SF Holding Co., Ltd. (06936.HK) released its February 2026 business operations bulletin, showing solid momentum across core segments despite calendar distortions linked to the Chinese New Year.
February 2026 Snapshot • Total operating revenue rose 17.60% year on year (YoY) to RMB 21.60 billion, driven mainly by robust express logistics demand. • Express logistics revenue climbed 24.88% YoY to RMB 16.42 billion, with parcel volume up 17.03% to 1.07 billion pieces. Revenue per parcel improved 6.76% to RMB 15.32, underscoring the company’s ability to capture higher-value deliveries during the holiday period. • Supply chain and international business revenue edged down 0.75% YoY to RMB 5.18 billion, as lower global freight rates offset steady growth in cross-border e-commerce logistics.
January–February 2026 Cumulative Performance • Aggregate revenue reached RMB 48.46 billion, up 8.55% YoY. • Express logistics contributed RMB 36.82 billion, an 8.57% increase, on parcel volume of 2.46 billion pieces (+9.44%). Average revenue per parcel slipped 0.79% to RMB 14.98 as product mix normalised after the holiday peak. • Supply chain and international revenue advanced 8.49% YoY to RMB 11.65 billion, supported by sustained demand for international express and supply-chain solutions, although softer ocean freight rates weighed on freight-forwarding turnover.
Management Commentary The group attributed express-segment strength to proactive expansion into consumer-centric scenarios such as New Year goods delivery and travel-related logistics, leveraging its directly operated network for stable service quality. In the supply chain and international segment, SF Holding noted that global network coverage and a diversified product suite enabled the company to capture opportunities from Chinese enterprises’ overseas expansion, partly offsetting weaker ocean freight markets.
All figures are unaudited and may differ from data disclosed in forthcoming periodic reports. The company advises investors to exercise caution when dealing in its securities.