Asian integrated logistics service provider S.F. Holding Co., Ltd. has released its financial results for the first half of 2026, posting total revenue of RMB 155.5 billion. The company ranked No. 372 on the 2026 Fortune Global 500 list and received an upgraded MSCI ESG Rating of AA during the period.
SF Holding's core domestic businesses maintained steady growth and market positions. Premium time-definite express revenue rose 5.3% year-over-year, while economy express unit revenue increased by 6%. Freight operations expanded as volumes of industrial bulky items over 100 kilograms grew by more than 20%, and intra-city delivery posted revenue and profit gains.
The company's second growth engine, the Supply Chain and International business, recorded a 15.6% year-over-year increase in revenue, with core revenue excluding KLN growing 46.6%. International supply chain revenue excluding KLN surged 155%, while international express and cross-border e-commerce logistics revenue grew 60% compared to the previous year.
To support its cross-border operations, SF Holding operates 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 covers 100 ports globally. It recently secured Authorized Economic Operator certification in South Korea alongside GMS and TIR qualifications. At its Ezhou cargo hub, the company has launched 61 domestic and 25 international routes, with international air cargo throughput rising 23% year-on-year.
SF Holding deployed nearly 15,000 AI agents as of June 30, 2026, to support customer engagement, network planning, fulfillment, and administration. The company also expanded its automated hardware infrastructure, operating nine fully automated lights-out warehouses and deploying automated case-handling robots, automated guided vehicles, autopilot trucks, and short-haul unmanned vehicles. These technology deployments contributed to a 7.4% year-on-year improvement in sorting efficiency and a 1.5-hour daily reduction in per-capita working hours.
In parallel with its operational updates, SF Holding announced measures to enhance shareholder returns. The company raised its 2026 interim dividend payout ratio to 45%, up from 40% for the full year of 2025. It also proposed amendments to its Five-Year Shareholder Return Plan (2024-2028)—subject to shareholder approval—targeting payout ratios of 45% in 2026, 50% in 2027, and no less than 50% in 2028. Additionally, 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 a total of approximately RMB 4.37 billion in share repurchases during the first half of the year.
"SF Holding's first-half results highlight the growing importance of operational efficiency and cross-border capabilities in modern logistics. By scaling automation and AI deployment while simultaneously focusing on international expansion, the company has positioned its supply chain sector as a viable second growth engine. Furthermore, their structured approach to enhancing shareholder returns through increased dividend payouts and share repurchases demonstrates financial discipline alongside business expansion." — Dr. Shishir Gupta, Founder & CEO, StartupLanes
