Goldman Sachs cuts target for S.F. Holding stock to HKD 31.00

Published on 10/19/2026 at 10:11 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Goldman Sachs cuts its target to HKD 31.00 on October 15, 2026. S.F. Holding stock posted CNY 155.5 billion of revenue in the first half of 2026.

Growth and valuation signals

Goldman Sachs cut its target from HKD 39.00 to HKD 31.00 on October 15, 2026.
Supply Chain and International revenue rose 15.6 percent in the first half of 2026.
S.F. Holding had a CNY 147.6 billion market capitalization as of October 19, 2026.

S.F. Holding, CNE100000L63, Illustration mit AI erstellt.

S.F. Holding (ISIN CNE100000L63) saw Goldman Sachs cut its target from HKD 39.00 to HKD 31.00 on October 15, 2026. The Shenzhen-listed logistics group had reported CNY 155.5 billion in first-half revenue on August 28, 2026, giving the valuation debate a clear operating reference.

Target cut resets valuation

The Goldman Sachs change places the new target below the prior HKD 39.00 level by HKD 8.00. The move adds a more cautious counterweight to S.F. Holding's operating progress during the first half of 2026.

Three events shaped the stock

On August 28, 2026, S.F. Holding reported first-half revenue of CNY 155.5 billion through ET Net. On September 22, 2026, a S.F. Holding unit invested CNY 100.0 million in a hard-tech venture fund, as MarketScreener reported. On October 15, 2026, Goldman Sachs cut its target to HKD 31.00 from HKD 39.00.

What comes next for results?

The next substantiated reporting date is October 29, 2026, according to TradingView. The latest quarterly figures show CNY 81.36 billion in second-quarter revenue and CNY 2.98 billion in net income, while first-half Supply Chain and International revenue increased 15.6 percent year over year, according to the results release carried by ET Net.

Operations meet a lower target

The operating picture combines scale with a sharper valuation test. S.F. Holding's international supply chain revenue excluding KLN rose 46.6 percent in the first half of 2026, while international express and cross-border e-commerce logistics revenue increased 60 percent. The company also raised its 2026 interim dividend payout ratio to 45 percent from 40 percent for fiscal year 2025.

On the Shenzhen Stock Exchange, S.F. Holding last stood at CNY 31.82 on October 19, 2026 at 3:04 p.m. CST. Its market capitalization was CNY 147.6 billion, and its 52-week range was CNY 30.07 to CNY 41.37 as of the same market-data snapshot.