BEIJING (XINHUA) – China’s courier giant SF Holding reported steady growth in revenue and profits last year as new business expanded rapidly and efficiency improved, according to the firm’s latest performance results.
Data showed that its annual revenue in 2019 totalled CNY112.19 billion (about USD16.01 billion), up 23.37 per cent year on year, making it the first courier company with over CNY100 billion revenue on the A-share market.
Net profits attributable to shareholders rose 27.24 per cent year on year to CNY5.80 billion in the same period thanks to new business expansion, cost reduction and efficiency improvement brought by new technologies, SF Holding said.
New business including express and supply chain sectors maintained growth momentum, while revenue from traditional business also expanded rapidly as the firm launched customer-oriented products and services.
By the end of 2019, the company’s total assets stood at CNY92.54 billion, 28.94 per cent higher than that registered in the same period last year.
Meanwhile, the firm saw stable progress in January despite the impact of the coronavirus epidemic, as revenue in the supply chain reported a year-on-year increase of 455.81 per cent and business volume ticked up by 40.45 per cent year on year, said SF Holding.