S.F. Holding Co.,Ltd. announced its full-year results for the period ending December 31, 2025. The group achieved operating revenue of RMB 308.227 billion, an increase of 8.37% year-on-year. Net profit attributable to owners was RMB 11.685 billion, rising by 14.35% compared to the previous year. Gross profit reached RMB 40.284 billion, up 3.57%. A final dividend of RMB 4.3 per 10 shares was declared.
The company adhered to a high-quality development strategy, focusing on value-driven operations. In 2025, it deepened its "operational activation" mechanism, fully mobilizing an entrepreneurial spirit across the organization to drive scaled business growth. Annual parcel volume surpassed 16.7 billion, a 25.4% increase, outpacing the overall express delivery industry's growth rate. Furthermore, the company gradually and dynamically adjusted its market strategy in the second half of the year, concentrating on high-value services and lean management. This marked a strategic shift from "scale-driven" to "value-driven" growth, solidifying the foundation for high-quality development. Profit attributable to owners in the fourth quarter of 2025 grew by 9.3% compared to the third quarter, exceeding the expectations communicated to the market in the Q3 report.
Leveraging a comprehensive product portfolio and a high-quality service system, the company precisely addressed the logistics demands of emerging industries and adapted to new scenarios and trends in the consumer market. Its superior services empowered industrial upgrades and evolving consumption patterns. The mid-to-high-end time-definite business achieved steady growth exceeding China's GDP rate, continuously strengthening the company's core performance foundation. Domestic express logistics revenue for 2025 reached RMB 228.56 billion, an 11.1% increase year-on-year.
The company deepened organizational integration and accelerated supply chain expansion. Since establishing its "accelerated industry-specific transformation" strategy, it has seen rapid revenue growth from logistics services in key core industries, with market share consistently increasing. In Q4 2025, the company furthered organizational integration by formally establishing a Supply Chain Business Group. It focused on seven major industries: high-tech, industrial equipment, automotive, consumer goods, retail food, retail catering, and life sciences & pharmaceuticals. A "Sales-Solutions-Operations" tripartite mechanism was implemented from headquarters to regional levels to accelerate the execution of its supply chain strategy. In 2025, the company's integrated logistics revenue in sectors like high-tech, industrial equipment, automotive, and retail food all achieved high growth exceeding 20%, faster than the total logistics growth rate of their respective industries.
The company is building major international logistics corridors, leading a new wave of global expansion. While fluctuations in international trade and supply chain restructuring present challenges for global operations, they also offer significant opportunities. Capitalizing on the trend of Chinese companies evolving from "product export" to "capacity export," S.F. Holding deepened its "Asia-focused, globally connected" strategy. It accelerated the development of end-to-end international logistics infrastructure and empowered the entire logistics chain with technology. This effort aims to build international express and supply chain service capabilities in the Asia-Pacific region and key trade lanes to Europe and America that are competitive with the top three global players. Despite the impact of international trade volatility and a significant decline in ocean freight rates on its international freight forwarding revenue growth in 2025, the company actively seized new opportunities from corporate globalization. Supported by its global network and diverse product mix, businesses including international express (excluding KLN), cross-border e-commerce logistics, overseas warehousing, and international supply chain collectively achieved high revenue growth of 55.4%, continuously strengthening the company's second growth curve.
Digital and intelligent technologies are empowering the supply chain, ushering in a new future for logistics. With the vigorous development of artificial intelligence applications, the logistics industry is transitioning from partial digitalization to comprehensive intelligence. Technological empowerment is evolving from a "digital foundation" to an "intelligent brain" and "innovation engine" for enterprises. In 2025, the company accelerated the application of cutting-edge technologies like AI, big data, operations research, and digital twins in logistics scenarios. The daily token consumption of S.F. Holding's proprietary logistics large language model exceeded 10 billion, and the number of active internal AI agents grew rapidly. These AI agents have become crucial "digital employees" in numerous business scenarios, including forecasting, planning, marketing, fulfillment, customer service, customs, and data analysis. Furthermore, by leveraging AI empowerment and full-chain digitalization, the company provides enterprises with end-to-end digital and intelligent supply chain services, from top-level design to implementation. This supports customers in their digital supply chain transformation, positioning S.F. Holding as a close partner for strategic collaboration and shared value creation. In 2025, S.F. Technology was selected for the Fortune China Tech 50 list, standing as the only logistics technology company included.
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