SF Holding Smashes Profit Records, Boosts Shareholder Payouts

HONG KONG – March 31, 2026 – S.F. Holding Co., Ltd. has announced a landmark year, delivering record-breaking financial results for 2025 that underscore its resilience and strategic dominance in a fluctuating global economy. The Asian logistics behemoth surpassed RMB 300 billion in total revenue for the first time in its history and posted a record net profit of RMB 11.1 billion, signaling robust health while some global competitors have faltered.

In a powerful display of confidence, the company also unveiled an aggressive capital return strategy, proposing a substantial dividend increase and expanded share repurchase programs that reaffirm its commitment to delivering shareholder value. The results paint a picture of a company not just navigating challenges, but strategically capitalizing on them to solidify its market leadership.

A Blueprint for Financial Resilience

SF Holding's 2025 performance stands out in the global logistics landscape. The company reported total revenue of RMB 308.2 billion, an 8.4% increase year-over-year. More impressively, its net profit attributable to owners climbed 9.3% to a record RMB 11.1 billion. This bottom-line figure surpassed analyst consensus estimates, indicating that the company's operational efficiency and cost management efforts were more successful than the market anticipated.

This performance contrasts sharply with some of its international peers. FedEx, for instance, reported a decline in net income for its fiscal year 2025, while UPS has been heavily focused on cost-saving initiatives to protect its profitability. SF Holding's ability to grow both revenue and profit highlights the success of its diversified model and its deep integration into China's evolving industrial economy.

"Every transformative leap has been born of our steadfast commitment to unchanging principles, our forward-looking strategic vision, and our unceasing determination to innovate and evolve," said Mr. Alex Ho, SF Holding's Executive Director and Chief Financial Officer, in a statement. He described 2025 as a "banner year" where strategic investments and operational optimization ensured the solid delivery of results. The company's free cash flow of RMB 17.9 billion further demonstrates its strong financial discipline and operational health.

Powering Growth Across Diverse Segments

While its iconic red and black vans are synonymous with premium express delivery, SF Holding's 2025 growth was fueled by strong performance across its entire portfolio. The company's domestic parcel volume surged by an impressive 25.4% year-over-year to exceed 16.6 billion parcels, a growth rate that significantly outpaced the overall express delivery industry in China.

This growth wasn't limited to a single segment:

• Time-Definite Express: The core premium service continued its momentum, with revenue growing 7.2% to RMB 131.1 billion, outpacing China's GDP growth rate.
• Economy Express: This segment saw robust growth of 17.6%, reaching RMB 32.1 billion in revenue as the company refined its pricing strategy for enhanced profitability.
• Freight: The freight business secured its leading position with shipment tonnage growing over 27% year-on-year, translating to an 11.9% revenue increase to RMB 42.1 billion.
• Intra-City On-Demand Delivery: This segment was a standout performer, with revenue soaring 43.4% to RMB 12.7 billion as it capitalized on the booming on-demand retail market. The segment's net profit doubled to reach a record high.

This diversified strength illustrates how SF Holding is successfully capturing value across different price points and service needs, insulating it from volatility in any single market segment and cementing its indispensable role in China's domestic commerce infrastructure.

Global Ambitions and Supply Chain Dominance

Beyond its domestic success, SF Holding is aggressively pursuing its vision of becoming a global, end-to-end logistics partner. The company has effectively capitalized on the trend of Chinese enterprises expanding internationally, a strategy reflected in the strong underlying growth of its supply chain and international business.

While the segment's reported revenue grew by a modest 3.5% to RMB 72.9 billion, this figure was tempered by fluctuating ocean freight rates affecting its subsidiary KLN. When excluding KLN, the core supply chain and international business revenue surged by an impressive 32.3% year-over-year, with momentum accelerating in the second half of the year. This underlying strength points to the success of its strategy to provide comprehensive supply chain solutions for businesses going global.

SF Holding is supporting this expansion by deepening its global network, expanding overseas warehousing, and leveraging advanced technology to offer fully connected, intelligent supply chain solutions. Its dedicated Supply Chain Business Group, which targets seven core verticals including high-tech, automotive, and life sciences, allows it to offer specialized expertise and establish itself as a trusted strategic partner for its clients' international ambitions.

A Dual Commitment to Shareholders and Sustainability

Perhaps the most emphatic statement from SF Holding's 2025 results is its dual commitment to maximizing shareholder returns while leading in corporate responsibility. The Board of Directors proposed a final cash dividend that brings the total for the year to approximately RMB 4.46 billion, representing a generous 40% payout ratio of the company's net profit.

This is complemented by a significant expansion of its share repurchase initiatives. The company plans to double the cap of its existing A-share repurchase program to RMB 6.0 billion and launch a new H-share repurchase program with a cap of HK$500 million. In total, cash dividends and share repurchases in 2025 amounted to RMB 6.1 billion, returning a remarkable 55% of the full-year net profit to its owners and signaling deep confidence in its future trajectory.

This robust financial stewardship is paired with a leading position in sustainability. In March 2026, SF Holding's MSCI ESG rating was upgraded to 'AA', placing it first among the world's four largest integrated logistics providers. This top-tier rating reflects the company's comprehensive ESG practices and its commitment to sustainable development, from carbon emissions management to labor practices. This combination of strong shareholder returns and elite ESG credentials positions SF Holding as a modern, forward-thinking leader in the global market, appealing to investors who seek both profit and principle.