HONG KONG, Jan. 15, 2026 /PRNewswire/ — S.F. Holding Co., Ltd. (‘SF Holding’ or ‘SF’, ‘the Company’, 002352.SZ; 06936.HK) the largest integrated logistics service provider in Asia and the fourth largest globally, and J&T Global Express ("J&T Express" or "J&T", 1519.HK) jointly announced today that they have entered into a strategic cross-shareholding agreement involving the mutual issuance of new shares, with a total investment amount of approximately HKD 8.3 billion.
Pursuant to the agreement, SF Holding will issue 226 million H Shares to J&T Express at a Subscription Price of HKD 36.74 per share, J&T Express will issue 822 million Class B Shares to SF Holding at an Issue Price of HKD 10.10 per share. Upon completion of the transaction, SF Holding will hold 10% of the issued shares of J&T Express as enlarged by the issuance (excluding treasury shares), and J&T Express will hold approximately 4.29% of the issued shares of SF Holding as enlarged by the issuance.
"We believe this is a win-win partnership that will inject fresh momentum into the global logistics landscape. The potential synergies between SF Holding’s cross-border line-haul expertise and J&T Express’s localized last-mile footprint, can create significant value to the global logistics ecosystem. This can not only deepen SF’s global reach and operational efficiency but also enable us to build a more agile, resilient end-to-end fulfillment network. Ultimately, this collaboration can elevate the customer end-to-end experience and advance the competitiveness of SF’s products and services across the world," said Mr. Alex Ho, Executive Director and Chief Financial Officer of SF Holding.
SF Holding, as a leading integrated logistics service provider globally, has long been committed to providing integrated, end-to-end logistics solutions for its customers. While having established a leading presence in China, the Company has also made significant progress in expanding its international business. SF Holding possesses core resource advantages in areas such as cross‑border first‑mile services, line-haul transportation, warehousing, and customs clearance, and has already developed digitalized international supply chain solutions and mature operational systems. The company is determined to further enhance such expansion through strengthening the breadth of its international network coverage and the depth of its overseas localised operations. The Company believes that strategic investments with partners will help broaden its international network coverage and enhance end-to-end operational efficiency.
J&T Express is a global logistics service provider that has achieved rapid growth across multiple countries. In addition to having established scale in the China market, the J&T has accumulated rich localized operational experience and a solid network foundation in Southeast Asia, one of the world’s fastest-growing regions.
The Transaction is of significant strategic importance to SF Holding. With regard to the Company’s international business, on top of its core resource advantages and mature operational system in cross-border first-mile and line haul, SF Holding can also leverage J&T Express’s last-mile delivery network layout in the Southeast Asia and other emerging markets and localized operational experience, further deepening the network coverage and product competitiveness of end-to-end cross-border business.
With regard to the domestic business, the two parties have significant complementary and synergistic space in network resources, customer bases, product structure and differentiation, which will help both sides expand service boundaries.
Overall, this collaboration is highly aligned with the Company’s strategic direction of building an "The One in Asia, globally connected" logistics network, and will provide strong support for the Company’s effort to further consolidate and enhance its comprehensive competitiveness in the Asian and global logistics markets.
About SF Holding
Founded in 1993, S.F. Holding Co., Ltd. (002352.SZ; 06936.HK) is the largest integrated logistics service provider in Asia and the fourth largest globally. Listed on the Shenzhen Stock Exchange and the Hong Kong Stock Exchange, SF Holding is the constituent stock in the CSI 300 Index, MSCI Emerging Market Index. Demonstrating a commitment to being fast, reliable, and customer-centric, the Company possesses digital technology to promote the development of intelligent and green supply chains.
For further information, please visit https://ir.sf-express.com/en/.
