S.F. Holding Co., Ltd. Class H (HK:6936)
:6936
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S.F. Holding Co., Ltd. Class H
(6936)
Select Model
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Rating:67Neutral
Price Target:
HK$39.00
▲(8.70% Upside)
Action:ReiteratedDate:04/29/26
The score is driven primarily by solid but not exceptional financial performance: improving leverage and steady profitability, offset by thin margins and uneven free-cash-flow trends. Technicals add a modest positive bias (near-term trend supportive) but are tempered by a weaker long-term trend signal. Valuation is reasonable with a mid P/E and a moderate dividend yield.
Positive Factors
Integrated nationwide logistics network
S.F.’s nationwide transport and distribution footprint and integrated parcel plus supply‑chain services create durable operational scale and last‑mile control. This supports customer stickiness, cross‑sell of value‑added services, and cost efficiencies that endure beyond short cycles.
Negative Factors
Thin profit margins
Low gross and net margins indicate limited pricing power and narrow buffers against cost inflation or fuel and labor pressure. With margins this thin, modest volume declines or cost increases can materially hit profitability and reduce the company’s ability to fund growth without efficiency gains.
Read all positive and negative factors
Positive Factors
Negative Factors
Integrated nationwide logistics network
S.F.’s nationwide transport and distribution footprint and integrated parcel plus supply‑chain services create durable operational scale and last‑mile control. This supports customer stickiness, cross‑sell of value‑added services, and cost efficiencies that endure beyond short cycles.
Read all positive factors
S.F. Holding Co., Ltd. Class H (6936) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$201.94B
Dividend Yield2.77%
Average Volume (3M)3.54M
Price to Earnings (P/E)14.1
Beta (1Y)0.38
Revenue Growth10.09%
EPS Growth7.87%
CountryHK
Employees147,189
SectorIndustrials
Sector Strength72
IndustryIntegrated Freight & Logistics
Share Statistics
EPS (TTM)0.57
Shares Outstanding240,000,000
10 Day Avg. Volume2,341,357
30 Day Avg. Volume3,538,338
Financial Highlights & Ratios
PEG Ratio2.97
Price to Book (P/B)1.58
Price to Sales (P/S)0.51
P/FCF Ratio8.68
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$45.33Price Target Upside26.35% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)2.74
Revenue Forecast (FY)HK$381.55B
S.F. Holding Co., Ltd. Class H Business Overview & Revenue Model
Company Description
S.F. Holding Co., Ltd. engages in the provision of integrated logistics services in China and internationally. It operates through: Time-Definite Express, Economy Express, Freight, Cold Chain and Pharmaceutical, Intra-City On-Demand Delivery, Inte...
How the Company Makes Money
S.F. Holding generates revenue primarily by charging customers for logistics services. The core revenue stream is express delivery: fees collected for picking up parcels from shippers, sorting and moving them through its trunk transportation netwo...
S.F. Holding Co., Ltd. Class H Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
70
Positive
Cash Flow
66
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 311.82B | 308.23B | 284.42B | 258.41B | 267.49B | 207.19B |
| Gross Profit | 41.85B | 41.05B | 39.61B | 33.14B | 33.42B | 25.64B |
| EBITDA | 16.63B | 33.04B | 33.31B | 30.08B | 28.76B | 19.34B |
| Net Income | 11.39B | 11.12B | 10.17B | 8.23B | 6.17B | 4.27B |
Balance Sheet | ||||||
| Total Assets | 213.08B | 216.47B | 213.82B | 221.49B | 216.84B | 209.90B |
| Cash, Cash Equivalents and Short-Term Investments | 42.49B | 37.17B | 45.18B | 48.78B | 48.45B | 45.70B |
| Total Debt | 46.90B | 34.14B | 48.23B | 56.41B | 47.82B | 48.51B |
| Total Liabilities | 101.85B | 106.14B | 111.49B | 118.21B | 118.56B | 111.98B |
| Stockholders Equity | 100.07B | 99.31B | 91.99B | 92.79B | 86.26B | 82.94B |
Cash Flow | ||||||
| Free Cash Flow | 16.79B | 18.05B | 22.84B | 14.10B | 18.52B | -3.84B |
| Operating Cash Flow | 27.27B | 27.56B | 32.19B | 26.57B | 32.70B | 15.36B |
| Investing Cash Flow | -16.38B | -17.33B | -12.05B | -13.51B | -12.09B | -17.13B |
| Financing Cash Flow | -20.96B | -22.94B | -27.98B | -12.99B | -16.02B | 21.22B |
S.F. Holding Co., Ltd. Class H Technical Analysis
Positive
35.88
Price Trends
35.28
Positive
35.35
Positive
37.83
Negative
Market Momentum
0.23
Negative
52.95
Neutral
50.99
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:6936, the sentiment is Positive. The current price of 35.88 is above the 20-day moving average (MA) of 34.79, above the 50-day MA of 35.28, and below the 200-day MA of 37.83, indicating a neutral trend. The MACD of 0.23 indicates Negative momentum. The RSI at 52.95 is Neutral, neither overbought nor oversold. The STOCH value of 50.99 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:6936.
S.F. Holding Co., Ltd. Class H Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | HK$102.96B | 9.94 | 7.51% | ― | 18.89% | 6.97% | |
74 Outperform | HK$152.04B | 11.17 | 14.02% | 3.05% | 11.02% | 4.17% | |
67 Neutral | HK$201.94B | 14.10 | 11.49% | 2.77% | 10.09% | 7.87% | |
65 Neutral | HK$46.43B | 7.99 | 9.97% | 6.39% | -8.51% | 9.94% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
58 Neutral | HK$89.87B | 25.39 | 5.53% | ― | 18.42% | 97.52% | |
45 Neutral | HK$3.19B | -3.37 | -69.18% | ― | -4.88% | -860.80% |
* Industrials Sector Average
HK:6936
S.F. Holding Co., Ltd. Class H
35.78
-2.12
-5.59%
HK:0658
China High Speed Transmission Equipment Group Co
1.95
1.12
134.94%
HK:0598
Sinotrans
5.25
2.13
68.00%
HK:2057
ZTO Express (Cayman), Inc. Class A
202.00
60.27
42.53%
HK:2618
JD Logistics, Inc.
15.43
3.19
26.06%
HK:1519
J&T Global Express Limited
10.10
4.06
67.22%
S.F. Holding Co., Ltd. Class H Corporate Events
S.F. Holding Issues Unaudited First-Quarter 2026 Report Under PRC Standards
Apr 28, 2026
S.F. Holding Co., Ltd., a major Chinese logistics and express services group listed in Hong Kong, has released its unaudited first quarterly report for 2026, prepared under China Accounting Standards for Business Enterprises. The company, headquar...
S.F. Holding Posts Modest March Revenue Growth on Value-Driven Logistics Mix
Apr 17, 2026
S.F. Holding reported combined March 2026 revenue of RMB24.302 billion from its express logistics and supply chain and international businesses, up 2.71% year on year. Express logistics revenue rose slightly to RMB18.019 billion despite a 3.40% de...
S.F. Holding’s Controlling Shareholder Releases Pledge on 48 Million A Shares
Apr 17, 2026
S.F. Holding Co., Ltd. has announced that its controlling shareholder, Shenzhen Mingde Holding Development Co., has released pledged A-share holdings totaling 48 million shares. The released shares represent 1.95% of Mingde’s holdings and 0....
S.F. Holding Updates Final 2025 Dividend Timetable and Tax Details
Apr 16, 2026
S.F. Holding Co., Ltd. has updated details of its proposed final dividend for the year ended 31 December 2025, declaring a payout of RMB 4.3 per 10 shares to its H shareholders. The company has confirmed key dates including shareholder approval on...
S.F. Holding Sets Board Meeting to Approve First-Quarter 2026 Results
Apr 16, 2026
S.F. Holding Co., Ltd. has scheduled a board meeting for April 28, 2026 in Shenzhen to review and approve the unaudited consolidated results of the group for the first quarter ended March 31, 2026. Following approval, the company plans to publish ...
S.F. Holding Sets 2026 AGM to Renew Share Issuance, Buyback and Financing Mandates
Apr 16, 2026
S.F. Holding Co., Ltd. has called its annual general meeting for May 8, 2026 in Shenzhen, where shareholders will review the 2025 annual report and board work report, approve the final profit distribution plan, and authorize the board to determine...
S.F. Holding’s Controlling Shareholder Pledges Additional A-Shares for Financing
Apr 1, 2026
S.F. Holding Co., Ltd. announced that its controlling shareholder, Shenzhen Mingde Holding Development Co., Ltd., has pledged 10 million A-shares, representing about 0.41% of its holdings and 0.20% of the company’s total share capital, as co...
S.F. Holding Advances RMB 6 Billion A‑Share Buyback to Cut Capital
Apr 1, 2026
S.F. Holding Co., Ltd., a major Chinese logistics and express delivery group, continues to leverage capital-market tools alongside its core courier and supply-chain operations. The company, listed in Shenzhen and Hong Kong, targets both consumer a...
S.F. Holding Highlights 2025 Audit Oversight and Regulatory Disclosure
Mar 31, 2026
S.F. Holding Co., Ltd. announced in Hong Kong that, in line with PRC and Hong Kong listing regulations, it has published an overseas regulatory announcement on the CNINFO platform. The board also confirmed the current composition of its directors,...
S.F. Holding Highlights Independent Director Oversight and Regulatory Compliance
Mar 31, 2026
S.F. Holding Co., Ltd. has issued an overseas regulatory announcement in Hong Kong to disclose the publication of a 2025 annual work report by one of its independent directors, in line with Chinese and Hong Kong listing rules. The filing reiterate...
S.F. Holding Highlights Independent Director’s Role and Governance Compliance in Hong Kong Filing
Mar 31, 2026
S.F. Holding disclosed an overseas regulatory announcement in Hong Kong, informing investors that it has published an independent director’s 2025 work report on the CNINFO platform in accordance with PRC and Hong Kong listing rules. The fili...
S.F. Holding Highlights Independent Director’s 2025 Work Report and Confirms Board Independence
Mar 31, 2026
S.F. Holding disclosed an overseas regulatory announcement in Hong Kong, informing investors that it has published an independent director’s 2025 work report on the CNINFO platform in accordance with PRC and Hong Kong listing rules. The anno...
S.F. Holding Issues Overseas Regulatory Announcement to Align PRC and Hong Kong Disclosures
Mar 31, 2026
S.F. Holding Co., Ltd. has issued an overseas regulatory announcement in Hong Kong to comply with disclosure requirements for companies listed on the Stock Exchange of Hong Kong. The company stated that, under relevant regulations of the People...
S.F. Holding Issues Overseas Regulatory Notice on CNINFO Disclosure
Mar 31, 2026
S.F. Holding Co., Ltd. has issued an overseas regulatory announcement in Hong Kong pursuant to disclosure requirements, notifying investors that it has published a related announcement on the Chinese market information platform CNINFO in accordanc...
S.F. Holding Publishes Overseas Regulatory Announcement on CNINFO
Mar 31, 2026
S.F. Holding Co., Ltd. announced that, in accordance with regulatory requirements in the People’s Republic of China and Hong Kong listing rules, it has published an announcement on the CNINFO website for overseas regulatory disclosure purpos...
S.F. Holding to Host Online Briefing on 2025 Results After Publishing Annual Report
Mar 31, 2026
S.F. Holding Co., Ltd. has announced that it has published its 2025 annual report on the CNINFO platform, providing investors with detailed information on the company’s operating performance for the year. The disclosure aligns with regulator...
S.F. Holding to Deploy Up to RMB 38 Billion in Low-Risk Wealth Management Products in 2026
Mar 30, 2026
S.F. Holding Co., Ltd. has announced that it and its controlled subsidiaries plan to use idle self-owned funds to purchase low-risk wealth management products in 2026, including structured deposits and low-risk fixed-income products issued by bank...
S.F. Holding Sets RMB 26.5 Billion Derivatives Hedging Cap for 2026
Mar 30, 2026
S.F. Holding Co., Ltd. has approved a 2026 plan for itself and its controlled subsidiaries to conduct derivatives hedging to manage risks arising from exchange rates, interest rates and oil price fluctuations tied to its international trade and in...
S.F. Holding Sets RMB 26.5 Billion FX Hedging Quota to Curb Global Expansion Risks
Mar 30, 2026
S.F. Holding has detailed its plan to use derivative hedging to manage growing exposure to exchange rates, interest rates and fuel prices as its overseas operations expand. With more revenue, costs and financing now denominated in foreign currenci...
S.F. Holding Sets RMB 46 Billion 2026 Guarantee Cap for Subsidiaries
Mar 30, 2026
S.F. Holding Co., Ltd. announced plans for its 2026 annual guarantee arrangements to support the funding needs of its subsidiaries, setting an upper limit of RMB 46 billion in guarantees for bank credit, external business activities, and other fin...
S.F. Holding Affirms 2025 Independence of Its Independent Directors
Mar 30, 2026
S.F. Holding Co., Ltd. announced in Hong Kong that it has published an overseas regulatory filing on the CNINFO platform in accordance with disclosure requirements in the PRC and Hong Kong. The board reaffirmed its current governance structure, li...
S.F. Holding Details 2025 Securities Investments, Confirms Modest Scale
Mar 30, 2026
S.F. Holding Co., Ltd. has disclosed its 2025 securities investment position in line with Shenzhen Stock Exchange self-regulatory requirements. The board conducted a review of the company’s securities portfolio, which includes holdings in JT...
S.F. Holding Reviews 2025 Audit Performance of PwC Firms for Regulatory Compliance
Mar 30, 2026
S.F. Holding Co., Ltd. announced an overseas regulatory filing in Hong Kong to disclose its 2025 annual performance evaluation of its domestic and overseas audit firms, PwC Zhong Tian and PricewaterhouseCoopers in Hong Kong. The move aligns with C...
S.F. Holding Publishes 2025 Annual Report for Dual-Listed Investors
Mar 30, 2026
S.F. Holding Co., Ltd., a major PRC-based logistics and express delivery provider listed in both Shenzhen and Hong Kong, continues to develop its role as a digitally enabled supply-chain and cross-border logistics partner for customers going overs...
S.F. Holding Announces 2025 Dividend Plan and Confirms Standard Audit Opinion
Mar 30, 2026
S.F. Holding has released a summary of its 2025 annual report in accordance with regulatory disclosure requirements in mainland China and Hong Kong. The board confirmed that all directors attended the meeting reviewing the report and that the comp...
S.F. Holding Lifts 2025 Revenue Beyond RMB 300 Billion as Global Logistics Position Strengthens
Mar 30, 2026
In 2025, S.F. Holding’s board operated under Chinese and Hong Kong corporate governance and listing rules, emphasizing diligence, compliance and execution of shareholder resolutions to enhance governance and support business growth. The comp...
S.F. Holding Renews PwC as 2026 Auditor for Onshore and Offshore Accounts
Mar 30, 2026
S.F. Holding announced that its board has approved the renewal of audit mandates for 2026, keeping PwC Zhong Tian as its domestic auditor and PricewaterhouseCoopers as its overseas auditor for a one-year term. The proposal, which complies with Chi...
S.F. Holding Adjusts General Mandate for Debt Financing Tools
Mar 30, 2026
S.F. Holding Co., Ltd. announced that its board has approved a proposal to adjust the general mandate for issuing debt financing instruments, reflecting the company’s operational and funding needs. The revised plan changes the designated iss...
S.F. Holding Completes First Vesting of “Grow Together” A-Share Employee Plan
Mar 30, 2026
S.F. Holding has announced the first vesting of its “Grow Together” A-share employee share ownership plan, converting 75,874,750 virtual share units held by 6,407 eligible participants into 13,907,049 company shares on March 30, 2026. ...
S.F. Holding Reports No Major Deficiencies in 2025 Internal Control Review
Mar 30, 2026
S.F. Holding Co., Ltd. has released its internal control self-evaluation report for the year ended 31 December 2025, in line with Chinese regulatory and Hong Kong listing requirements. The board, audit committee and management affirm their respons...
S.F. Holding Doubles A-Share Buyback Size and Switches to Capital Reduction
Mar 30, 2026
S.F. Holding Co., Ltd. has significantly expanded its 2025 A share repurchase plan, having already bought back about 61.8 million A shares, or roughly 1.2% of its total share capital, for around RMB2.4 billion. The company initially set a repurcha...
S.F. Holding Launches HK$500 Million 2026 H Share Buyback Plan
Mar 30, 2026
S.F. Holding Co., Ltd. has approved a 2026 H share repurchase plan of up to HK$500 million, following an existing shareholder mandate and a proposed new mandate to buy back up to 10% of its issued H shares. The repurchased shares will be held as t...
S.F. Holding Seeks Shareholder Approval for Renewed Connected-Transaction Frameworks
Mar 30, 2026
S.F. Holding Co., Ltd. has approved a series of renewed framework agreements governing continuing connected transactions with the Mingde Group and Hive Box Group, covering comprehensive services, integrated logistics services, and procurement of g...
S.F. Holding Proposes Final 2025 Dividend and Details Tax Treatment for H Shareholders
Mar 30, 2026
S.F. Holding Co., Ltd. has proposed a final ordinary cash dividend of RMB 4.3 per 10 shares for the financial year ended 31 December 2025, subject to shareholder approval. The payout level signals the company’s confidence in its 2025 perform...
S.F. Holding Releases Audited 2025 Annual Results and Reaffirms Digital Logistics Vision
Mar 30, 2026
S.F. Holding Co., Ltd. announced that its board of directors has approved and released the audited annual results for the year ended December 31, 2025, for the company and its subsidiaries. The full 2025 annual report will be made available on the...
S.F. Holding Redirects H-Share Proceeds to Strengthen China Logistics Network
Mar 30, 2026
S.F. Holding has reallocated part of the net proceeds from its Hong Kong H-share global offering, shifting emphasis from international expansion to bolstering its domestic logistics network. Of the approximately RMB5.3 billion raised, about RMB3.9...
S.F. Holding Subsidiary Wins CSRC Approval for Up to RMB 5 Billion Bond Issue
Mar 23, 2026
S.F. Holding announced that its wholly owned subsidiary, Shenzhen S.F. Tyson Holdings (Group) Co., Ltd., has received approval from the China Securities Regulatory Commission to register a public offering of corporate bonds to professional investo...
S.F. Holding Delivers Double-Digit February Revenue Growth on Robust Express Demand
Mar 19, 2026
S.F. Holding reported February 2026 revenue of RMB21.604 billion from its express logistics and supply chain and international businesses, up 17.60% year-on-year, with express logistics revenue rising 24.88% on higher parcel volumes and improved r...
S.F. Holding Schedules Board Meeting to Approve 2025 Results and Consider Final Dividend
Mar 16, 2026
S.F. Holding Co., Ltd., a PRC-incorporated joint stock company listed in Hong Kong, has a board comprising executive and independent non-executive directors, indicating an established corporate governance framework. The company operates through a ...
S.F. Holding Renews Major Logistics Property Leases With Affiliate
Mar 12, 2026
S.F. Holding has approved a resolution at its seventh board of directors’ third meeting to renew property lease agreements through a wholly owned subsidiary with an affiliated company under SF Real Estate Investment Trust. The leases cover s...
S.F. Holding Renews RMB694 Million Logistics Property Leases With Affiliated REIT
Mar 12, 2026
S.F. Holding has renewed property lease agreements between several of its wholly owned logistics subsidiaries and S.F. Real Estate Investment Trust’s fully owned property entities for logistics facilities in Hong Kong, Foshan, Wuhu and Chang...
S.F. Holding Advances RMB 2 Billion A-Share Buyback to Signal Confidence
Mar 2, 2026
S.F. Holding Co., Ltd. has announced an update on its A-share share repurchase plan, originally approved in April 2025 and later adjusted in October 2025, setting a total buyback budget of between RMB 1.5 billion and RMB 3 billion, with a maximum ...
S.F. Holding Posts January Revenue Growth on Strength in Supply Chain and International Business
Feb 13, 2026
S.F. Holding reported combined January 2026 revenue of RMB26.86 billion from its express logistics and supply chain and international segments, a 2.22% year-on-year increase, with parcel volumes rising but revenue per parcel declining. The express...
S.F. Holding Buys Back Over 1% of Share Capital Under A-Share Repurchase Plan
Feb 3, 2026
S.F. Holding has been executing an A-share share repurchase programme approved by its board in 2025, under which it plans to buy back between RMB 1.5 billion and RMB 3 billion of its publicly traded A shares at a capped price per share within a de...
S.F. Holding Advances RMB 1.9 Billion A-Share Buyback Programme
Feb 2, 2026
S.F. Holding Co., Ltd. has disclosed an update on its A-share share repurchase programme, originally approved by its board in April 2025 and later adjusted in October 2025, under which it plans to buy back between RMB 1.5 billion and RMB 3 billion...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.