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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
S.F. Holding Co.
S.F. Holding Co. (002352) investor relations material
S.F. Holding Co. Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary29 Oct, 2026
Executive summary
Q3 revenue was RMB82.22bn, up 4.87% YoY; net income attributable to shareholders reached RMB2.71bn, up 5.54%, while adjusted net income rose 13.77% to RMB2.53bn.
Parcels totaled 4.03bn; strategic priorities remained express logistics, digital supply chain and international business, with value-led growth and operating efficiency emphasized.
Financial highlights
Q3 gross profit was RMB10.43bn, up 6.5% YoY; revenue was RMB82.22bn, up 4.87%.
9M revenue rose 5.53% to RMB237.73bn; attributable net income fell 1.12% to RMB8.21bn, while adjusted attributable net income increased 10.78% to RMB7.51bn.
9M operating income was RMB11.33bn versus RMB10.73bn YoY; net income was RMB8.91bn versus RMB8.72bn.
9M operating cash flow was RMB19.07bn, down 1.80% YoY; investing cash outflow narrowed to RMB12.69bn and financing cash flow shifted to RMB9.69bn inflow.
Outlook and guidance
Strategy centers on express logistics, digital supply chain and international business, with focus on value-led growth, business mix optimization and disciplined cost management.
International network development prioritizes air, sea, land and rail routes, customs clearance and overseas warehouses, while targeting opportunities from Chinese companies expanding overseas.
H-share IPO proceeds allocated to China logistics network upgrades and international/cross-border capability were expected to be used by end-2026; 2025 placement proceeds for international logistics were scheduled through end-2027.
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Latest events from S.F. Holding Co.
- Revenue up 8.4%, net profit up 14.3%, with robust cash flow and major post-year-end investment.002352
H2 2025 - Revenue up 5.9% and adjusted net profit up 9.3%, with strong international and segment growth.002352H1 2026
- Q1 2026 saw 6.1% revenue growth and 13.0% net profit increase, led by international expansion.002352Q1 2026
- Revenue and net profit rose 9.3% and 19.4%, driven by segment growth and asset disposals.002352H1 2025
- H1 2024 revenue up 8.1% and net profit up 15.1%, with strong express and freight growth.002352H1 2024
- Record profits, strong revenue growth, and robust cash flow drove higher shareholder returns.002352H2 2024
Next S.F. Holding Co. earnings date
H2 202629 Mar, 2027
S.F. Holding Co.
Next S.F. Holding Co. earnings date
H2 202629 Mar, 2027
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Frequently asked questions
S.F. Holding Co., Ltd. is a logistics service provider operating both within China and internationally. The company was established by Wei Wang on October 26, 2007, and it has grown to offer a wide range of logistics solutions. Its services encompass traditional express delivery, heavy freight, cold chain logistics, international business, and intra-city express delivery, alongside engaging in front-end processes such as production, supply, marketing, and distribution within the value chain. The company is headquartered in Shenzhen, China, and its shares are listed on the Shenzhen Stock Exchange.