On August 21, 2023, headquartered in Shenzhen, GuangdongSF Express Holdings Co., Ltd. Beijing UBOX Online Technology Corp. (hereinafter referred to as”SF Express Holdings“) Submit a prospectus to the Hong Kong Stock Exchange to be listed on the Hong Kong Main Board.
SF Express Holdings(002352.SZ) was listed on the Shenzhen Stock Exchange in January 2017, and changed to its current name in February of that year.
Link to the prospectus of SF Express Holdings:
Main business
SF Express HoldingsEstablished by Mr. Wang Wei in Shunde, Guangdong in 1993, after 30 years of development, by revenue in 2022, SF Holdings is the largest integrated logistics service provider in China and Asia, the fourth largest integrated logistics service provider in the world, and a “Fortune” Fortune 500 enterprise. The company is in a market-leading position in the five logistics segments in China and the four logistics segments in Asia, providing customers with comprehensive logistics services, including express delivery, express delivery, cold transportation, instant delivery in the same city, supply chain solutions, international logistics services.
According to the Frost & Sullivan Report, as of March 31, 2023,SF Express HoldingsIt has a huge global distribution network covering 208 countries and regions, and operates 95 aircraft and more than 176,000 vehicles. It is Asia's largest air fleet and land transport fleet, respectively. As of December 31, 2022,SF Express HoldingsIt has about 1.8 million active monthly settlement customers and 585 million individual customers. According to the Frost & Sullivan report, these two figures are the highest among all logistics service providers in Asia.
SF Express HoldingsIt is also a technology-driven company. As of March 31, 2023, the company has more than 3,800 patents and patent applications, and continues to use self-developed technology to provide innovative solutions. The company's self-developed “SF Smart Brain” is a data-driven central office system that can effectively manage and operate huge and complex logistics networks, thereby improving operational efficiency and optimizing costs.
SF Express HoldingsIt directly manages the entire end-to-end logistics process from initial one-kilometer receipt to last-mile delivery, minimizes dependence on franchisees, enables the company to have strong operational control capabilities, logistics network timeliness, quality visibility, and dynamic resource scheduling, and supports the company's industry-leading speed, cost and reliability. SF Holdings is also the only large-scale integrated logistics service provider independent of major e-commerce platforms in China. It can serve a neutral customer base and provide customers with a full range of standardized or customized services through strong integrated logistics capabilities.
Revenue model
SF Express HoldingsThe revenue comes mainly from:
Express and Heavy Goods Business Division;
Real time delivery business division in the same city;
Supply Chain and International Business Division.
A breakdown of revenue by business segment. Each line shows the absolute amount and percentage of total revenue:
Shareholder structure
According to the prospectus,SF Express HoldingsIn the shareholder structure before listing,
Mr. Wang Wei, passedMingde HoldingsIt holds 52.64% of the shares, and Shenzhen Weishun, a wholly-owned subsidiary of Mingde Holdings, holds 2.04% of the shares, holding a total of 54.68% of the shares;
* Mr. Wang Wei directly holds 99.90% of the shares in Mingde Holdings.
Ms. Wang Xin, holding 0.001% of the shares;
Mr. Li Jiashi, holding 0.001% of the shares;
Mr. Liu Yilu, holding 0.847% of the shares;
The remaining A shareholders collectively held about 45.32% of the shares.
Directors and Executives
SF Express HoldingsThe board of directors consists of 7 directors, including 4 executive directors and 3 independent non-executive directors.
directorates(7 people)
Supervisory Board(5 people)
executives(6 people)
Executives include: Chairman, Executive Director and General ManagerWang WeiMr., Executive Director, Deputy General Manager and Head of FinanceHe JieMr. Deputy General ManagerLi ShengMr. Deputy General ManagerZhou HaiqiangMr. Deputy General ManagerGeng YankunMr., Deputy General Manager, Board Secretary and Company SecretaryGan Lingladies.
Company performance
According to financial data, in the past three fiscal years 2020, 2021, and 2022, and the first three months of 2023,SF Express HoldingsThe operating income was 153.987 billion yuan, 207.187 billion yuan, 207.49 billion yuan, and 61,048 billion yuan, respectively, and the corresponding net profit was 6.416 billion yuan, 4.382 billion yuan, 7.57 billion yuan, and 1,674 billion yuan, respectively.
Intermediary team
SF Express HoldingsThe brokerage team for this IPO mainly includes Goldman Sachs, China International, and J.P. Morgan as their co-sponsors; PricewaterhouseCoopers as their auditors; Cheng Ming Ze-zheng and Smithfield respectively; Guo Hao is his Chinese data compliance lawyer; Hong Kong legal adviser to the controlling shareholder; KWM and Gao Shenwei are their Chinese lawyers, brokerage firm Hong Kong and US lawyers; Frost Sullivan is their industry adviser.