Jin Rong Jie·2026-01-19 13:26Core Insights - SF Holding reported a total revenue of 27.339 billion yuan for December 2025, with express logistics revenue at 20.378 billion yuan, marking a year-on-year growth of 3.78% and a business volume of 1.476 billion parcels, up 9.33% year-on-year [1][2] - The company has been optimizing its domestic business structure and enhancing its global supply chain, benefiting from lean management and technological innovations [1][2] Group 1: Business Performance - In December, SF's express logistics business volume grew by 9.33%, with an annual growth rate expected to exceed 25%, showcasing strong business resilience and growth potential [2] - The average revenue per parcel reached 13.81 yuan, with a narrowing year-on-year decline, indicating a recovery trend in profitability [2] - The overall growth of SF outpaced the industry average, with China's express delivery volume and revenue growing by 13.7% and 6.5% respectively in 2025 [2] Group 2: International Strategy - SF's international strategy is evolving from "single-point breakthroughs" to "network collaboration," focusing on deepening its presence in the Asia-Pacific region and expanding into Europe and emerging markets [3] - In December, SF signed a memorandum of cooperation with CWT in Singapore, targeting core areas such as warehousing and cold chain logistics, enhancing regional logistics efficiency [3] - A strategic partnership with Evri in the UK aims to strengthen SF's last-mile delivery capabilities in Europe, facilitating better access for Chinese enterprises to the European market [3] Group 3: Technological Innovation - SF is leveraging technology to support its global expansion and domestic growth, collaborating with Starry Era to develop intelligent robotic solutions for logistics [5] - The company is enhancing its logistics capabilities through the integration of traditional and low-altitude logistics, exemplified by the launch of the Fengyibao An low-altitude smart logistics center [5][6] - This technological innovation is expected to create a new growth engine and enhance SF's competitive advantage in the global market [6]