China Merchants keeps Strong Buy on SF Holding stock

Published on 10/13/2026 at 06:40 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Adjusted net profit reached RMB 5.0 billion in the first half of 2026, up 9.3 percent. For SF Holding stock, 20 analysts give ratings and earnings are due October 29, 2026.

Key points in brief

China Merchants Securities maintained a Strong Buy rating on September 15, 2026.
Adjusted net profit rose 9.3 percent to RMB 5.0 billion in the first half of 2026.
SF Holding reported CNY 31.20 on the Shenzhen Stock Exchange on October 13, 2026, while its next earnings date is October 29, 2026.

SF Holding, CNE100006NF4, Illustration mit AI erstellt.

China Merchants Securities maintained a Strong Buy rating on SF Holding stock on September 15, 2026, after reviewing the company's first-half results. The assessment came as adjusted net profit reached RMB 5.0 billion, an increase of 9.3 percent from the year-earlier period.

Profit growth masks a mixed quarter

According to Futubull on September 15, 2026, first-half revenue was RMB 155.51 billion, up 5.89 percent year over year. Reported net profit attributable to shareholders was RMB 5.50 billion, down 4.11 percent, while non-GAAP net profit attributable to shareholders increased 9.32 percent to RMB 4.97 billion.

The comparison is important because the prior-year period included a one-off gain linked to the deconsolidation of SF REIT. The adjusted result therefore provides the cleaner operating signal, although higher fuel costs remained a risk for margins.

International logistics is the growth engine

ET Net reported on August 28, 2026, that supply-chain and international revenue increased 15.6 percent in the first half of 2026. Core revenue excluding KLN grew 46.6 percent, giving SF Holding a second growth curve beyond domestic express delivery.

The same release said SF Holding completed RMB 4.37 billion in share repurchases during the first half of 2026 and proposed an interim cash dividend of RMB 2.50 billion. The interim payout ratio was lifted to 45 percent from 40 percent for fiscal year 2025, subject to shareholder approval.

What comes next for earnings?

TradingView lists October 29, 2026, as the next earnings date for SF Holding's A shares. The platform also shows ratings from 20 analysts, while its latest quarterly figures include revenue of CNY 81.36 billion and net income of CNY 2.98 billion.

For investors, the key test is whether international growth can offset the pressure from fuel costs and a high comparison base. The first-half figures show that adjusted profitability and supply-chain expansion are advancing at different speeds.

Stock price and trading context

The latest structured quote showed SF Holding at CNY 31.20 on the Shenzhen Stock Exchange on October 13, 2026 at 12:24 p.m. CST, against a previous close of CNY 31.19. The market capitalization was CNY 149.7 billion on the same quote date, while the 52-week range was CNY 30.07 to CNY 41.37.

The further course of trading is shown by the continuously updated real-time quote of SF Holding stock.