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SF Holding Delivered Record High 2024 Financial Results

SHENZHEN, China, March 31, 2025 /PRNewswire/ -- S.F. Holding Co., Ltd. ('SF Holding' or 'SF' or 'the Company', 002352.SZ; 06936.HK), the largest integrated logistics service provider in Asia, has announced 2024 financial results, demonstrating strong growth in both revenue and profitability.

The Company has an efficient and reliable logistics network infrastructure rooted in China, radiating Asia, and connecting the world. Focusing on its logistics ecosystem, SF Holding has continued to enhance its portfolio of product and service capabilities to provide customers with domestic and international one-stop integrated logistics services.

Commenting on the Company's 2024 results, Mr. Alex Ho, SF Holding's Executive Director and Chief Financial Officer, said: "2024 stands as a defining milestone for SF Holding – crowned by high customer satisfaction, record total revenue and profitability, as well as our successful listing on the Hong Kong Stock Exchange in November 2024. Through disciplined capital allocation and operational excellence, we generated robust operating cash flows, translating into sustainable free cash flow growth."

In 2024, the Company achieved strong growth by focusing on its key strategy, "Unite for Shared Goals, Pioneer with Steadfast Drive." As part of this strategy, SF Holding strengthened organizational vitality by upgrading incentive systems and granting greater business authority to frontline employees. Additionally, the Company enhanced the role of headquarters in supporting business regions, aligning interests across all levels to foster entrepreneurship throughout the organization.

Domestically, the Company achieved business growth by further penetrating customers' upstream and downstream supply chain scenarios across multiple industries. Logistics revenue in the high-tech, automotive, and industrial manufacturing sectors all grew by over 20% year-over-year. As a result, the main express logistics business achieved revenue of RMB205.8 billion, representing a year-over-year increase of 7.7%.

Internationally, Asia is the Company's top priority. SF Holding provides customized integrated end-to-end logistics solutions, delivering both cost-efficiency and premium services to customers, and achieved 0-to-1-to-N breakthroughs in international supply chain projects across countries, industries, and business scenarios. Over 45% of Fortune China 500 companies utilize SF Holding's international logistics services. In its 2024 international operations, the Company won bids for over 100 overseas supply chain projects. As a result of these initiatives, the supply chain and international business achieved RMB70.5 billion in revenue, representing a 17.5% year-over-year increase, effectively securing the Company's second growing curve.

Alongside business expansion, the Company has achieved sustained profitability growth through continuous improvements in backbone logistics network efficiency and operational model reforms, which combined have driven cost reductions and efficiency enhancements.

Since 2024, SF Holding has returned a total of RMB10.7 billion to shareholders through cash dividends and share repurchase programs, demonstrating its strong confidence in sustainable cash flow generation and commitment to creating long-term shareholder value.

Notably, on March 28, the Company proposed a final cash dividend distribution of RMB2.2 billion. Together with interim dividends, SF Holding's total shareholder returns from dividends for 2024 amounted to RMB4.1 billion, representing an annual dividend payout ratio of 40% - an increase of 5 percentage points year-over-year.

Additionally, prior to its November 2024 listing on the Hong Kong Stock Exchange, SF Holding distributed a special one-off cash dividend of RMB4.8 billion. This brought the Company's 2024 dividend payout ratio to a record-high 87%.

To demonstrate its commitment to shareholder value, SF Holding has allocated RMB4.8 billion in various share repurchase programs since 2022, including RMB1.8 billion worth of shares that were repurchased since 2024.

Building on its leadership in Asia, SF Holding is rapidly applying its proven expertise to further develop its market presence. By deepening its "The One in Asia" strategy, the Company remains committed to seamlessly connecting Asia and the world with its international logistics and supply chain capabilities.

Looking ahead, as the demand for integrated end-to-end logistics solutions continues to rise, SF Holding aims to become the go-to logistics partner of our business and retail customers in Asia. SF Holding plans to leverage its well-recognized brand, cost advantages, and integrated logistics service capabilities, driving sustainable and healthy growth of business to foster shared success and create enduring value together.

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 and 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/.