Chinese logistics firm SF Express on Sunday evening disclosed a briefing on its express delivery and logistics business in November, showing total revenue in the period of 25.856 billion yuan ($4.05 billion), up 68.19% year-on-year.
According to SF Express, the rapid growth is mainly due to a merger of related business income with Kerry Logistics.
Kerry Logistics is an international logistics service provider headquartered in Hong Kong, with an extensive delivery network in China and ASEAN countries. On September 28 this year, SF Express announced that its wholly-owned subsidiary had completed the acquisition of 931 million shares of Kerry Logistics, which accounted for about 51.5% of the issued share capital of Kerry Logistics.
According to industry insiders, SF Express is expected to expand its coverage of overseas business, enhance the ability of overseas logistics, effectively supplement the resources and capabilities in international freight forwarding and customs clearance, and further strengthen its competitive advantage in international cross-border freight business.
In addition, the report also shows that SF Express’s operating income in November 2021 was 16.245 billion yuan, up 15.43% year-on-year.
In terms of supply chain and international business, SF Express’s operating income in November 2021 was 9.611 billion yuan, a year-on-year increase of 639.31%.
Among them, the supply chain and international business mainly include the company’s supply chain and international business segments, and the integrated logistics and international freight business segments of Kerry Logistics.