Asian integrated logistics service provider S.F. Holding Co., Ltd. has released its financial results for the first half of 2026, reporting total revenue of RMB 155.5 billion. The company recently ranked No. 372 on the Fortune Global 500 list and received an upgraded MSCI ESG Rating of AA, demonstrating steady performance across its core operations.
During the reporting period, the company's supply chain and international business emerged as a significant growth driver. Revenue from this segment increased by 15.6% year-over-year, while core revenue excluding KLN grew 46.6%. Specifically, international supply chain revenue (excluding KLN) rose by 155%, and international express and cross-border e-commerce logistics revenue increased by 60% compared to the same period last year.
SF Holding's cross-border capabilities are supported by an all-cargo fleet of 111 aircraft, up to 213 weekly cross-border flights, and over 2.2 million square meters of overseas warehouses across the Asia-Pacific region. The company's customs clearance network spans 100 ports worldwide, alongside recent AEO certification in South Korea and GMS and TIR qualifications for ground transportation.
In its domestic operations, the company maintained steady market positions. Premium time-definite express revenue rose 5.3% year-over-year, while unit revenue in economy express increased by 6%. Freight volumes for industrial bulky items over 100 kilograms expanded by more than 20%, supported by resource integration with strategic partners.
The company continued to scale technology deployments across its network, utilizing proprietary logistics-specific large models. As of June 30, SF Holding deployed nearly 15,000 AI agents to assist with customer engagement, network planning, fulfillment, and administration. Additionally, the company operates nine fully automated lights-out warehouses, utilizing automated case-handling robots, automated guided vehicles, autopilot trucks, and unmanned vehicles. These deployments contributed to a 7.4% year-on-year improvement in sorting efficiency.
To enhance shareholder returns, SF Holding raised its 2026 interim dividend payout ratio to 45%, up 5 percentage points from the 40% ratio for the full year 2025. The company also proposed amendments to its Five-Year Shareholder Return Plan (2024-2028), targeting a 50% payout ratio in 2027 and no less than 50% in 2028, subject to shareholder approval. Furthermore, the company doubled the cap of its A-share repurchase program to RMB 6.0 billion and launched an H-share repurchase program of HKD 500 million, completing approximately RMB 4.37 billion in total share repurchases during the first half of the year.
"SF Holding's first half 2026 performance highlights the growing importance of global supply chain resilience and international expansion in large-scale logistics. By integrating advanced automation, artificial intelligence, and strategic cross-border infrastructure, the company has managed to scale its secondary business lines effectively while improving operational efficiency. Furthermore, their structured approach to enhancing shareholder returns through increased dividend payout ratios and share repurchases demonstrates a balanced focus on long-term capital allocation alongside top-line growth." — Dr. Shishir Gupta, Founder & CEO, StartupLanes
