S.F. Holding Co., Ltd., recognized as Asia's largest integrated logistics service provider, has released its financial performance data for the first half of 2026, recording a total revenue of RMB 155.5 billion. The company moved to No. 372 on the Fortune Global 500 list and secured an upgraded MSCI ESG Rating of "AA" during this period.
Core domestic operations maintained steady performance alongside network optimization and resource integration. Premium time-definite express revenue rose by 5.3% year-over-year, while economy express unit revenue increased by 6%. Freight volumes for industrial bulky items over 100 kilograms grew by more than 20%, and intra-city delivery also recorded revenue and profit expansion.
The company's second growth engine, the Supply Chain and International business, registered a 15.6% year-over-year revenue increase. Core revenue outside of KLN grew by 46.6%. Specifically, international supply chain revenue (excluding KLN) surged by 155%, and international express and cross-border e-commerce logistics revenue grew by 60% compared to the same period last year.
SF Holding operates a robust global and regional footprint to support cross-border capabilities. This includes an all-cargo fleet of 111 aircraft, up to 213 weekly cross-border flights, over 2.2 million square meters of overseas warehouses in the Asia-Pacific region, and a customs clearance network spanning 100 ports worldwide. The Ezhou cargo hub handled 61 domestic and 25 international routes, with international air cargo throughput rising 23% year-on-year.
Technology integration remained a focus, with nearly 15,000 AI agents deployed across workflows such as customer engagement, network planning, and fulfillment by June 30. The company also expanded its automated hardware infrastructure, operating nine fully automated warehouses alongside automated case-handling robots, automated guided vehicles, autopilot trucks, and short-haul unmanned vehicles. These deployments yielded a 7.4% year-on-year improvement in sorting efficiency and reduced daily per-capita working hours by 1.5 hours.
To enhance shareholder returns, SF Holding increased its 2026 interim dividend payout ratio to 45%, up from 40% for the full year of 2025. It also proposed an amendment to the Five-Year Shareholder Return Plan (2024-2028), targeting a 45% payout in 2026, 50% in 2027, and at least 50% in 2028, pending shareholder approval. Furthermore, the company doubled its A-share repurchase program cap to RMB 6.0 billion and introduced its first H-share repurchase program of HKD 500 million, completing approximately RMB 4.37 billion in total repurchases during the first half of the year.
"SF Holding's first-half 2026 results demonstrate how established logistics enterprises can scale effectively by balancing regional domestic strengths with international expansion. The significant growth in their supply chain and international segments highlights the rising global demand for resilient and efficient trade networks. Furthermore, their deployment of automation and AI-driven tools points to a broader industry trend where technology integration directly improves operational efficiency and unit economics. For growing businesses, prioritizing core operational resilience alongside disciplined shareholder returns remains a strong model for long-term sustainability." — Dr. Shishir Gupta, Founder & CEO, StartupLanes
