S.F. Holding Co., Ltd. announced its financial results for the first half of 2026, registering a 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. SF Holding reported steady growth across its core domestic businesses while experiencing strong momentum in its supply chain and international operations.
During the period, revenue from SF's Supply Chain and International business increased by 15.6% year-over-year. Core revenue, excluding KLN, grew by 46.6%. Specifically, international supply chain revenue surged by 155%, while international express and cross-border e-commerce logistics revenue increased by 60% compared to the same period last year. The company's cross-border capabilities are supported by 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.
Domestically, SF maintained stable positions across its segments. Premium time-definite express revenue rose 5.3% year-over-year, while unit revenue in economy express lifted by 6% due to a focus on the mid-to-high-end segment. Freight volumes for industrial bulky items over 100 kilograms expanded by more than 20%. The company also reported robust revenue and profit growth in its intra-city delivery business.
To drive operational efficiency, SF scaled its AI and automation applications during the first half of 2026. The company deployed nearly 15,000 AI agents to assist with core workflows including customer engagement, network planning, fulfillment, and administration. Hardware expansions included nine fully automated lights-out warehouses, automated case-handling robots, automated guided vehicles, autopilot trucks, and unmanned vehicles, contributing to a 7.4% year-on-year improvement in sorting efficiency.
In a move to enhance shareholder returns, SF Holding raised its 2026 interim dividend payout ratio to 45%, a 5 percentage point increase from the 40% payout ratio recorded for the full year of 2025. The company also proposed amendments to its Five-Year Shareholder Return Plan (2024-2028), targeting a 45% payout ratio in 2026, 50% in 2027, and no less than 50% in 2028, pending approval at a general meeting of shareholders. Additionally, SF completed approximately RMB 4.37 billion in A-share and H-share repurchases during the first half of the year.
"SF Holding's first-half 2026 performance highlights the growing importance of scalable supply chain resilience and technology integration in large-scale logistics. The notable growth in their international and supply chain segments reflects broader market demands for efficient cross-border operations. Furthermore, aligning aggressive capital return programs and dividend payout increases with operational efficiency gains demonstrates a balanced approach to driving enterprise value and maintaining shareholder confidence." — Dr. Shishir Gupta, Founder & CEO, StartupLanes
