SF Holding reports first-half growth: what it means for SF Holding stock

SF Holding (CNE100006NF4) reported first-half growth led by RMB 155.5 billion of revenue and adjusted net profit of RMB 5.0 billion in the first half of 2026, according to ET Net on August 28, 2026. The figures give investors a clearer split between steady domestic operations and a faster international growth engine.

International revenue accelerates

According to ET Net, Supply Chain and International revenue increased 15.6 percent year over year in the first half of 2026. Core revenue excluding KLN rose 46.6 percent, making the international platform the most visible growth driver in the reported period.

The same release said international supply chain revenue excluding KLN surged 155 percent year over year, while international express and cross-border e-commerce logistics revenue increased 60 percent. SF also operated 111 all-cargo aircraft and up to 213 weekly cross-border flights during the period, supporting a business mix that reaches beyond domestic parcel delivery.

Returns now carry more weight

Shareholder distributions were another concrete part of the first-half update. SF Holding doubled the cap of its A-share repurchase program to RMB 6.0 billion, launched an H-share repurchase program of HKD 500 million and completed approximately RMB 4.37 billion in share repurchases in the first half of 2026, according to ET Net.

SF raised its 2026 interim dividend payout ratio to 45 percent from 40 percent for full-year 2025. The proposed interim cash dividend of RMB 2.50 billion, combined with the repurchases, puts capital returns beside operating growth as a central part of the investment case.

August revenue adds a near-term check

Monthly data supplied a more measured follow-up. Futu reported that August 2026 revenue from express logistics, supply chain and international businesses reached RMB 25.489 billion, up 2.83 percent year over year. Per-shipment revenue in express logistics rose 7.84 percent, while Supply Chain and International revenue increased 15.55 percent.

That contrast matters. The broader monthly increase was modest compared with the first-half international figures, but higher per-shipment revenue suggests SF is emphasizing quality and mix rather than volume alone.

SF Holding stock stays below its high

The Lang & Schwarz prior close was EUR 3.28 on October 5, 2026. On the Hong Kong Stock Exchange, SF Holding was trading at HKD 28.84 on October 7, 2026 at 10:40 a.m. HKT, against a 52-week range of HKD 28.06 to HKD 38.56.

The Hong Kong quote places the stock near the lower end of that range, while the first-half results point to a stronger international contribution and a higher shareholder payout. The further course of trading is shown by the continuously updated real-time quote of SF Holding stock.

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