S.F. Holding Co., Ltd. (002352.SZ) Bundle
From a Shenzhen startup founded in 1993 to a global logistics powerhouse, S.F. Holding Co., Ltd. has built an expansive network touching 339 prefecture-level cities across China and serving customers in over 200 countries, while its 2024 performance-about US$39.5 billion in revenue and roughly US$1.41 billion in net income-underscores the scale behind a mission that pledges convenient, reliable and user-friendly delivery, an ambitious vision to lead the global smart supply chain by 2025, and core values of equality, respect, collaboration, win-win, innovation and inclusiveness that drive initiatives from SF Airlines to SF Intra-city, Kerry Logistics, SF Technology and SF Supply Chain toward digital ecosystems, carbon-neutral pledges and community-centered service.
S.F. Holding Co., Ltd. (002352.SZ) - Intro
S.F. Holding Co., Ltd., established in 1993 and headquartered in Shenzhen, Guangdong Province, is a leading Chinese multinational integrated logistics service provider. The company operates a diversified portfolio spanning express delivery, freight, cold chain logistics, intra-city on-demand delivery, supply chain solutions, and international logistics, supported by subsidiaries such as SF Airlines, SF Intra-city, Kerry Logistics, SF Technology, and SF Supply Chain.- Founded: 1993
- Headquarters: Shenzhen, Guangdong Province, China
- Network reach: 339 prefecture-level cities in China; operations in over 200 countries worldwide
- 2024 Revenue: ≈ US$39.5 billion
- 2024 Net Income: ≈ US$1.41 billion
| Metric | 2024 Value | Notes |
|---|---|---|
| Revenue | US$39.5 billion | Consolidated group revenue across express, freight, supply chain, and international operations |
| Net Income | US$1.41 billion | Post-tax consolidated net profit |
| Domestic Coverage | 339 prefecture-level cities | Extensive domestic last-mile and network hubs |
| International Presence | 200+ countries | Cross-border logistics via Kerry Logistics, SF Airlines and partners |
| Key Subsidiaries | SF Airlines; SF Intra-city; Kerry Logistics; SF Technology; SF Supply Chain | Diversified operations spanning air, ground, cold chain and digital platforms |
- Delivering value through reliable, fast, and customer-centric logistics solutions that enable commerce and connectivity.
- Powering partners' growth by integrating end-to-end logistics with digital intelligence and operational excellence.
- To be the world's most trusted integrated logistics platform - seamlessly connecting businesses and consumers across borders and last miles.
- Drive sustainable, technology-enabled growth while expanding global footprint and service depth.
- Customer First - prioritize timeliness, reliability, and tailored service.
- Innovation - invest in automation, digital platforms, and data-driven operations (SF Technology as a core enabler).
- Integrity - uphold compliance, safety, and transparent governance across a complex global network.
- Collaboration - leverage partnerships (e.g., Kerry Logistics) and internal synergies across air, ground, and supply chain arms.
- Agility - respond to market shifts with scalable intra-city and cold-chain solutions.
- Sustainability - reduce environmental footprint through fleet optimization, green packaging, and route efficiency.
- Expand intra-city same-day and cold-chain capacities to capture e-commerce and healthcare logistics demand.
- Scale SF Airlines and international freight capabilities to support cross-border e-commerce and B2B trade lanes.
- Accelerate digital transformation via SF Technology for route optimization, warehouse automation, and customer-facing platforms.
- Optimize capital allocation to maintain profitability while funding network expansion and M&A where strategic (historical integration of Kerry Logistics).
S.F. Holding Co., Ltd. (002352.SZ) Overview
S.F. Holding Co., Ltd. (002352.SZ) centers its corporate purpose on delivering convenient, reliable and user-friendly express delivery services while constructing an open-structured digital supply chain ecosystem that enables client collaboration and business-model innovation. The mission foregrounds customer-centricity, technological innovation, sustainability and social responsibility - combining commercial logistics leadership with commitments to green development and societal well-being.- Provide convenient, reliable, user-friendly express delivery services globally.
- Build an open digital supply chain ecosystem to co-innovate business models with clients.
- Serve corporate clients with a global smart supply chain system.
- Lead on green environmental protection; target pacesetting progress toward carbon neutrality.
- Extend network reach to communities, villages and families to support social welfare and common prosperity.
- Customer-centric operations: end-to-end visibility, punctuality and ease of use for individuals and enterprises.
- Technology-driven transformation: AI, robotics, IoT and proprietary logistics platforms to increase automation and efficiency.
- Sustainability commitment: reducing carbon intensity across fleet, facilities and supply-chain partners.
- Social contribution: dense last-mile network to increase inclusion and community services.
| Metric | Value / Target | Notes |
|---|---|---|
| FY2023 Revenue (approx.) | RMB 198.4 billion | Group consolidated operating revenue (express, supply chain and integrated services) |
| FY2023 Net Profit (approx.) | RMB 9.3 billion | Post-tax attributable profit to shareholders |
| Market Capitalization (approx.) | RMB 240 billion | Shanghai/Shenzhen listed valuation fluctuates with market |
| Employees | ~210,000 | Includes frontline couriers, operations, logistics and corporate staff |
| Network Coverage | Domestic coverage across all prefectures; international reach via partnerships to 190+ countries/regions | Dense last-mile network - community and village access emphasized |
| Vehicle & Equipment Fleet | ~30,000 land vehicles + thousands of sorting/automation devices | Ongoing fleet electrification and route-optimization investments |
| Carbon Targets | Carbon peak by 2030; move toward carbon neutrality (mid/long-term target) | Measures: EV adoption, renewable energy, efficiency upgrades, carbon accounting |
| Investment in Technology & CapEx (annual run-rate) | RMB tens of billions (multi-year scale) | Automation hubs, AI routing, digital platforms and cross-border logistics infrastructure |
- Smart supply-chain construction: integrated warehousing, cross-border customs facilitation and enterprise logistics solutions designed to increase B2B share.
- Digital ecosystem partnerships: APIs, platform services and co-innovation programs aimed at client business-model transformation.
- Green logistics: electrified fleets, cleaner energy for hubs, packaging reduction programs and carbon accounting across operations.
- Community reach: dense last-mile network and services tailored for rural and under-served areas to support inclusive prosperity.
S.F. Holding Co., Ltd. (002352.SZ) - Mission Statement
S.F. Holding envisions itself as the global leader in the smart supply chain by 2025, driven by technological innovation, operational excellence, sustainability, and social value creation. The company's mission centers on delivering convenient, reliable, and user-friendly express services while building an open digital supply chain ecosystem that enables clients' business-model innovation and shared growth.- Global leadership goal: become the recognized pacesetter in smart supply-chain operations and carbon-neutral logistics by 2025.
- Customer preference: be the preferred partner for individuals and enterprises worldwide through integrated logistics, last-mile excellence, and digital services.
- Open ecosystem: construct an interoperable digital platform that facilitates client collaboration, data-driven optimization, and co-innovation.
- Sustainability pledge: accelerate green transformation - fleet electrification, renewable energy use in hubs, and carbon-emission reduction targets aligned with global standards.
- Social responsibility: continuously create outstanding social value via jobs, community logistics, and inclusive services.
| Metric | Reported / Target | Context |
|---|---|---|
| Revenue (FY 2023) | RMB 148.6 billion | Reflects core express, supply-chain, and e-commerce logistics growth |
| Net profit (FY 2023) | RMB 8.6 billion | Profitability after investment in network expansion and technology |
| R&D & technology spend (FY 2023) | RMB 3.2 billion | Investment in automation, AI routing, and digital platform development |
| Fleet electrification (target by 2025) | 20% EVs in urban fleets | Reduce tailpipe emissions and operating cost per delivery |
| Carbon reduction target | ~30% reduction vs. 2020 baseline by 2025 | Energy efficiency, renewable procurement, and electrified vehicles |
| Global network reach | 200+ countries/regions via partners and cross-border services | Enables international express and supply-chain solutions |
| Market capitalization (approx.) | RMB 180 billion (Dec 2024) | Reflects investor valuation of growth and tech transformation |
- Smart network: deploy AI-driven sorting, dynamic routing, and predictive capacity planning to reduce delivery times and costs.
- Digital ecosystem: provide APIs, cloud services, and partner platforms to co-create logistics solutions with enterprise clients.
- Sustainability roadmap: invest in EVs, solar-powered facilities, and low-carbon packaging to meet carbon-neutral commitments.
- Service excellence: expand same-day and next-day capabilities, enhance tracking transparency, and improve last-mile accessibility.
- Social value: increase rural coverage, create logistics employment, and support disaster-response logistics services.
| KPI | Current / Target |
|---|---|
| On-time delivery rate | Target ≥ 97% by 2025 |
| Automated sorting rate | Current ~65% → Target 85%+ |
| Carbon intensity (CO2 per parcel) | Target -30% vs. 2020 by 2025 |
| Digital transaction penetration (platform-based revenues) | Target 40% of revenue by 2025 |
| Customer NPS | Target ≥ 60 |
S.F. Holding Co., Ltd. (002352.SZ) - Vision Statement
S.F. Holding's vision centers on becoming the world's leading integrated logistics and supply-chain services provider by delivering fast, reliable, intelligent, and inclusive logistics solutions. Guided by a mission to connect people, commerce, and opportunity, the company aligns long-term strategy with measurable performance, talent development, and technological leadership.- Equality & Respect: ensuring fair treatment across a workforce that includes hundreds of thousands of couriers and frontline staff, with policies designed to protect rights and improve livelihoods.
- Collaboration & Win‑Win: forging partnerships with e-commerce platforms, retailers, manufacturers, and government bodies to expand reach and reduce cost-to-serve.
- Innovation: investing in automation, AI, route optimization, and warehousing to improve timeliness and reduce carbon intensity.
- Inclusiveness: creating growth pathways for diverse talent through training, transparent appraisal, and competitive remuneration.
| Metric | Figure (approx.) |
|---|---|
| Founded | 1993 |
| Listed (SZSE) | 2017 (002352.SZ) |
| Annual revenue | ~RMB 140-170 billion (recent fiscal years) |
| Annual net profit | ~RMB 6-12 billion (varies by year) |
| Employees & couriers | ~400,000-600,000 personnel across network |
| Daily parcel handling | tens of millions of pieces per day (peak-season higher) |
| Service network | Thousands of service outlets and hundreds of warehouses across China; growing international footprint |
- Impartial appraisal: S.F. Holding implements a transparent performance appraisal system tying individual and team KPIs to incentives, promotions, and training budgets to drive measurable value creation.
- Competitive pay & development: the company offers market-aligned compensation packages, performance bonuses, and internal/external training programs designed to help outstanding talents realize career aspirations globally.
- Growth through competition: internal programs encourage employees to compete on merit-sales targets, operational efficiency, safety records, and innovation contributions all factor into advancement.
- Courier support units: dedicated organizational structures centre on couriers' welfare, safety, and professional development-handling recruitment, social benefits, grievance mechanisms, and occupational health.
- Government and regulator engagement: coordinated projects with municipal and national agencies address urban logistics regulation, traffic management, and social insurance coverage for couriers.
- Technology-enabled flat management: mobile apps, route‑planning algorithms, and digital performance dashboards enable decentralized, responsive oversight while maintaining consistent service standards networkwide.
| Value | Operational practice | Representative KPI |
|---|---|---|
| Equality & Respect | Standardized contracts and social benefit drives | Percentage of couriers covered by insurance / grievance resolution time |
| Collaboration | Strategic partnerships with e-commerce and retail | Revenue share from key accounts; number of integrated partners |
| Innovation | R&D in automation, AI, green logistics | CapEx in tech / automated sorting throughput (pieces/hour) |
| Inclusiveness | Training & internal mobility programs | Employee internal promotion rate / training hours per employee |
- Scale efficiency: expand hub-and-spoke facilities and automated sorting to lower unit costs while improving delivery speed.
- Digital transformation: accelerate AI, IoT, and cloud adoption to optimize routing, reduce emissions, and increase predictability.
- Human capital investment: deepen training, enhance appraisal transparency, and maintain competitive remuneration to attract and retain high-performing talent globally.

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