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S.F. Holding Co., Ltd. Class H
(6936)
Select Model
Select Model
Rating:68Neutral
Price Target:
HK$36.00
▲(9.89% Upside)
Action:Downgraded
Date:08/30/26
The score is driven primarily by solid financial performance (revenue scale and improved profitability) tempered by weakening free cash flow and some renewed balance-sheet leverage. Technical indicators are broadly neutral with limited momentum, while valuation is reasonable and supported by a ~3% dividend yield.
Positive Factors
Sustained revenue expansion
Multi-year revenue growth indicates continued shipment demand and network scale. Maintaining higher TTM revenue suggests the company is still expanding its operating base, supporting durable earnings capacity over the medium term.
Negative Factors
Weakening free cash flow
The recent decline in free cash flow signals higher reinvestment needs or weaker cash conversion. Persistent pressure could reduce internally funded expansion, limit financial flexibility and make the business more dependent on external funding.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained revenue expansion
Multi-year revenue growth indicates continued shipment demand and network scale. Maintaining higher TTM revenue suggests the company is still expanding its operating base, supporting durable earnings capacity over the medium term.
Read all positive factors
S.F. Holding Co., Ltd. Class H (6936) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$177.42B
Dividend Yield3.21%
Average Volume (3M)1.23M
Price to Earnings (P/E)14.7
Beta (1Y)0.45
Revenue Growth10.46%
EPS Growth-0.16%
CountryHK
Employees158,761
SectorIndustrials
Sector Strength72
IndustryIntegrated Freight & Logistics
Share Statistics
EPS (TTM)2.16
Shares Outstanding465,877,660
10 Day Avg. Volume1,429,671
30 Day Avg. Volume1,232,489
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$36.00Price Target Upside9.89% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)2.56
Revenue Forecast (FY)HK$386.04B
S.F. Holding Co., Ltd. Class H Business Overview & Revenue Model
Company Description
S.F. Holding Co., Ltd. engages in the provision of express logistics services. It engages in traditional express, heavy freight, cold chain service, international business, and intra-city express. It also offers front-end processes, such as produc...
How the Company Makes Money
S.F. Holding Co., Ltd. primarily makes money by charging customers for logistics services delivered through its network. Key revenue streams include: (1) Express delivery services: fees collected per shipment for domestic and cross-border parcels,...
S.F. Holding Co., Ltd. Class H Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
72
Positive
Cash Flow
66
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 315.83B | 308.23B | 284.42B | 258.41B | 267.49B | 207.19B |
| Gross Profit | 42.04B | 41.05B | 39.61B | 33.14B | 33.42B | 25.64B |
| EBITDA | 19.83B | 33.04B | 33.31B | 30.08B | 28.76B | 19.34B |
| Net Income | 10.85B | 11.12B | 10.17B | 8.23B | 6.17B | 4.27B |
Balance Sheet | ||||||
| Total Assets | 228.84B | 216.47B | 213.82B | 221.49B | 216.84B | 209.90B |
| Cash, Cash Equivalents and Short-Term Investments | 47.36B | 37.17B | 45.18B | 48.78B | 48.45B | 45.70B |
| Total Debt | 57.70B | 34.14B | 48.23B | 56.41B | 47.82B | 48.51B |
| Total Liabilities | 114.62B | 106.14B | 111.49B | 118.21B | 118.56B | 111.98B |
| Stockholders Equity | 102.77B | 99.31B | 91.99B | 92.79B | 86.26B | 82.94B |
Cash Flow | ||||||
| Free Cash Flow | 14.98B | 18.05B | 22.84B | 14.10B | 18.52B | -3.84B |
| Operating Cash Flow | 26.50B | 27.56B | 32.19B | 26.57B | 32.70B | 15.36B |
| Investing Cash Flow | -12.48B | -17.33B | -12.05B | -13.51B | -12.09B | -17.13B |
| Financing Cash Flow | -10.00B | -22.94B | -27.98B | -12.99B | -16.02B | 21.22B |
S.F. Holding Co., Ltd. Class H Technical Analysis
Negative
32.76
Price Trends
32.22
Negative
32.46
Negative
33.66
Negative
Market Momentum
-0.39
Positive
39.04
Neutral
31.78
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:6936, the sentiment is Negative. The current price of 32.76 is above the 20-day moving average (MA) of 32.03, above the 50-day MA of 32.22, and below the 200-day MA of 33.66, indicating a bearish trend. The MACD of -0.39 indicates Positive momentum. The RSI at 39.04 is Neutral, neither overbought nor oversold. The STOCH value of 31.78 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
68 Neutral | HK$177.42B | 14.67 | 10.86% | 3.21% | 10.46% | -0.16% | |
67 Neutral | HK$49.28B | 12.18 | 9.26% | 7.24% | -3.80% | 0.22% | |
67 Neutral | HK$122.53B | 10.60 | 15.95% | 3.33% | 21.24% | 25.73% | |
67 Neutral | HK$73.84B | 8.13 | 12.78% | ― | 29.20% | 16.27% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
62 Neutral | HK$93.32B | 29.18 | 9.69% | ― | 31.91% | 122.59% | |
49 Neutral | HK$501.59M | -3.29 | -14.50% | 1.48% | 5.28% | -148.69% |
* Industrials Sector Average
HK:6936
S.F. Holding Co., Ltd. Class H
30.98
-7.10
-18.65%
HK:0598
Sinotrans
4.65
0.33
7.58%
HK:2057
ZTO Express (Cayman), Inc. Class A
162.20
18.63
12.98%
HK:2618
JD Logistics, Inc.
11.02
-2.24
-16.89%
HK:6123
YTO International Express and Supply Chain Technology Limited
1.15
-0.10
-8.00%
HK:1519
J&T Global Express Limited
9.66
-0.16
-1.58%
S.F. Holding Co., Ltd. Class H Corporate Events
S.F. Holding Publishes 2026 Interim Disclosures and Updates Equity Incentive Plans
Aug 28, 2026
S.F. Holding Co., Ltd. has announced that it has published a series of regulatory and corporate documents on the CNINFO platform in accordance with mainland Chinese disclosure rules. These include resolutions from its board meeting, the 2026 semi-...
S.F. Holding Boosts Strategic Stake in Hive Box Through RMB305 Million Share Subscription
Aug 28, 2026
S.F. Holding, via its subsidiary Radiant Beyond, is deepening its involvement in smart parcel locker operator Hive Box to reinforce its logistics ecosystem. By expanding its equity exposure to Hive Box, the group aims to consolidate its position i...
S.F. Holding Declares Interim Dividend for First Half of 2026
Aug 28, 2026
S.F. Holding Co., Ltd., a major Chinese logistics and express delivery provider listed in Hong Kong, focuses on parcel delivery and related logistics services for corporate and retail customers across mainland China and overseas markets. Its H-sha...
S.F. Holding Releases Unaudited 2026 Interim Results for First Half
Aug 28, 2026
S.F. Holding Co., Ltd. has released its unaudited interim results for the six months ended June 30, 2026, covering the performance of the Group and prepared in line with Hong Kong listing requirements. The company will publish its full 2026 Interi...
S.F. Holding boosts stake in smart locker operator Hive Box via RMB305m share subscription
Aug 24, 2026
S.F. Holding’s board has approved a connected transaction under which its wholly owned subsidiary Radiant Beyond will exercise its preemptive rights to subscribe for 46,829,077 new Class A ordinary shares of Hive Box at RMB2.8489 per share, ...
S.F. Holding boosts stake in Hive Box with board-approved capital increase
Aug 24, 2026
S.F. Holding Co., Ltd. announced that its seventh board of directors held the sixth meeting on August 24, 2026, conducted by telecommunication with all six directors attending and chaired by founder and chairman Wang Wei, in compliance with releva...
S.F. Holding Posts July Revenue Growth on Higher-Value Parcels and Overseas Expansion
Aug 19, 2026
S.F. Holding reported combined revenue of RMB26.37 billion from its express logistics and supply chain and international businesses in July 2026, up 6.12% year on year. The company continues to emphasize high-quality growth by shifting from scale-...
S.F. Holding Sets August 28 Board Meeting to Approve 2026 Interim Results and Dividend
Aug 17, 2026
S.F. Holding Co., Ltd. has scheduled a board meeting for August 28, 2026 to review and approve the group’s interim results for the six months ended June 30, 2026. The board will also consider the publication of these results and evaluate whe...
S.F. Holding Completes RMB6 Billion A-Share Buyback to Cut Capital
Jul 21, 2026
S.F. Holding has completed the first tranche of its 2025 A-share buyback programme, launched to reflect strong confidence in its future prospects and recognition of its intrinsic value. The plan was adjusted by the board to expand the funding rang...
S.F. Holding Cancels Buyback Shares, Cuts Registered Capital and Notifies Creditors
Jul 21, 2026
S.F. Holding Co., Ltd., a major Chinese express logistics provider listed in Shenzhen and Hong Kong, offers parcel delivery and comprehensive supply chain services to retail and corporate clients.
Its dual listing and established governance framew...
S.F. Holding Advances Multibillion‑Yuan A‑Share Buyback to Cut Capital
Jul 20, 2026
S.F. Holding Co., Ltd. has been executing a sizeable A-share buyback program, reflecting management’s confidence in the company’s long‑term prospects and recognition of its intrinsic value. The board has approved an adjusted plan...
S.F. Holding Boosts June Revenue on Strong International and Supply Chain Growth
Jul 17, 2026
In June 2026, S.F. Holding Co., Ltd. generated combined revenue of RMB27.880 billion from its express logistics and supply chain and international segments, marking a 6.19% increase compared with a year earlier. The express logistics business post...
S.F. Holding Advances RMB 6 Billion A-Share Buyback to Cut Capital
Jul 1, 2026
S.F. Holding Co., Ltd. has updated investors on the progress of its A-share share repurchase program, reflecting management’s confidence in the company’s long-term prospects and intrinsic value. The board previously approved and later ...
S.F. Holding’s Controlling Shareholder Lifts Pledge on 31 Million A Shares
Jun 30, 2026
S.F. Holding Co., Ltd. announced that its controlling shareholder, Shenzhen Mingde Holding Development Co., Ltd., has released the pledge on a portion of its A-share holdings. The released shares total 31 million, representing about 1.26% of Mingd...
S.F. Holding Posts May Revenue Growth on Strong Supply Chain and International Gains
Jun 18, 2026
S.F. Holding reported that combined revenue from its express logistics and supply chain and international businesses reached RMB26.586 billion in May 2026, up 5.87% year on year, underscoring steady top-line growth. Express logistics revenue was b...
S.F. Holding’s H-Share Issuance Dilutes Controlling Shareholder Stake as J&T Express Joins Register
Jun 9, 2026
S.F. Holding Co., Ltd. has announced that a new issue of 225,877,669 H-shares to JT Express Global Co., Ltd. or its designated entity has expanded the company’s total share capital from 5,039,430,409 to 5,265,308,078 shares. As a result, the...
S.F. Holding raises HK$8.3 billion as J&T takes 4.3% H-share stake
Jun 9, 2026
S.F. Holding has completed its previously announced share subscription transactions with logistics peer JT, issuing 225,877,669 new H shares to JT and subscribing for JT Class B shares. The deal makes JT a significant new H-shareholder with about ...
S.F. Holding Advances Multibillion‑Yuan A‑Share Buyback to Cut Capital
Jun 1, 2026
S.F. Holding Co., Ltd., a major Chinese express and logistics provider listed in Hong Kong and Shenzhen, offers parcel delivery, freight and integrated logistics services to a broad base of domestic and international customers. Its shares are acti...
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.