China courier giants post strong revenue growth in July

Time: 2019-08-20
Summary: Three major Chinese express delivery companies reported strong revenue growth in July amid booming e-commerce in the world's most populous country.

SF Holding announced in a stock exchange filing on Monday night that its revenue from the express delivery business rose 19.1 percent year-on-year to 8.34 billion yuan ($1.2 billion) last month.

In July, SF Holding, a leader in the middle and high-end courier service market, handled 369 million parcels, an annual increase of 22.6 percent.

Smaller rival Yunda Holding reported much stronger express delivery business growth. In July, it generated a revenue of 2.77 billion yuan, up 218.9 percent year-on-year , and handled 879 million parcels, up 56.1 percent.

Meanwhile, STO Express said it generated a revenue of 1.78 billion yuan, up 33.2 percent, and handled 636 million parcels, up 52.2 percent.

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