TREE NEWS reports: SF Holding reported combined revenue of RMB 25.489 billion for August 2026, up 2.83% year on year. Express logistics revenue slipped 1.35% to RMB 18.406 billion on 1.286 billion parcels, down 8.53%, while revenue per parcel rose 7.84% to RMB 14.31. Supply chain and international business revenue climbed 15.55% to RMB 7.083 billion.
SF Holding August 2026 revenue rises 2.83% to RMB 25.49B
AI take
The split matters more than the headline: SF's core express volumes are shrinking while per-parcel yield rises, a trade-off that suggests mix or pricing discipline rather than demand growth. The offset is the supply chain and international segment, now growing at a double-digit clip and doing the heavy lifting on the topline. The open question is whether the parcel decline is a deliberate shift away from low-margin volume or a loss of share, and how long international can keep covering the gap.
Generated by AI for reference only.
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