BRIEF: S.F. Holding’s revenue rises in May on shopping festival boost

Parcel delivery company S.F. Holding Co. Ltd. (6936.HK; 002352.SZ) said on Thursday its revenue rose 11.3% in May year-on-year to 25.1 billion yuan ($3.5 billion), as a 31.8% jump in its parcel delivery volume was partly offset by a 14% decline in its revenue per parcel.

S.F. Holding’s express logistics business generated 19.4 billion yuan in May by delivering 1.48 billion parcels at an average price of 13.12 yuan per parcel. Its supply chain and international business generated 5.73 billion yuan for the month, up 5% year-on-year.

The company credited an earlier start to the June 18 annual shopping holiday for helping to boost its business in May. But it added that “certain routes of the international freight forwarding business were affected by fluctuations relating to certain dynamics of international trade.”

S.F. Holding’s shares rose as much as 7% in Friday morning trade but later gave back most of the gains and were up about 2% late in the afternoon session.

By Doug Young

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