J&T Global Express and SF Holding Announce Strategic Cross-Shareholding to Build a New Global Smart Logistics Ecosystem

HONG KONG, Jan. 15, 2026 /PRNewswire/ -- J&T Global Express ("J&T Express" or "J&T", 1519.HK), a global leading integrated logistics service operator, and S.F. Holding Co., Ltd. ("SF Holding", 002352.SZ, 6936.HK) jointly announced today that they have entered into a strategic cross-shareholding agreement involving the mutual issuance of new shares, with an investment and transaction amount of HKD8.3 billion.

Pursuant to the agreement, J&T Express will issue 822 million Class B Shares to SF Holding at an Issue Price of HKD10.10 per share; simultaneously, SF Holding will issue 226 million H Shares to J&T Express at a Subscription Price of HKD36.74 per share. Upon completion, SF Holding will hold 10% of the issued shares of J&T Express as enlarged by the issuance, and J&T Express will hold approximately 4.29% of the issued shares of SF Holding as enlarged by the issuance.

This collaboration is designed to deeply integrate the resources of both industry leaders. The goal is to jointly construct a more extensive, efficient, and resilient global integrated logistics network, better positioning both companies to serve Chinese companies expanding overseas and adapt to the evolving landscape of the global e-commerce logistics market.

The cross-shareholding structure aims to unlock highly complementary strategic synergies. J&T brings its extensive last-mile network and localized operational experience across 13 countries, pairing effectively with SF Holding's core resources and mature operating systems in cross-border first-mile and line-haul. Together, the parties will enhance the network coverage and competitiveness of their end-to-end cross-border logistics solutions. In the China market, large complementarities in network resources, customer bases, product structures, and differentiated positioning will create broad opportunities to expand service boundaries.

In a joint statement, Mr. Jet Lee, founder of J&T  Express, and Mr. Wang Wei, founder of SF Holding, noted that the two companies are long-standing strategic partners and that this cross-shareholding marks a major milestone, elevating their relationship from operational collaboration to a closer, mutually beneficial strategic partnership. They will work together to build a more efficient global smart logistics network, seize the historic opportunities created by Chinese enterprises going global and the rise of cross-border e-commerce, and deliver greater value to customers across global supply chains.

About J&T Express

J&T Express (1519.HK) is a global logistics service provider with leading express delivery businesses in Southeast Asia and China, the largest and fastest-growing market in the world. Founded in 2015, J&T Express' network spans thirteen countries, including Indonesia, Vietnam, Malaysia, the Philippines, Thailand, Cambodia, Singapore, China, Saudi Arabia, the UAE, Mexico, Brazil and Egypt. Adhering to its "customer-oriented and efficiency-based" mission, J&T Express is committed to providing customers with integrated logistics solutions through intelligent infrastructure and digital logistics network, as part of its global strategy to connect the world with greater efficiency and bring logistical benefits to all.

About SF Holding

S.F. Holding Co., Ltd. (002352.SZ; 06936.HK)  is the largest integrated logistics service provider in Asia and the fourth largest globally, ranking 393rd on the Fortune Global 500 list. The company provides customers with comprehensive, end-to-end domestic and international logistics solutions. SF Holding boasts an extensive global service network, with its business covering approximately 200 countries and regions, and holds leading positions across multiple logistics segments. SF harnesses technology to empower customers in building secure and efficient smart supply chains, with the vision of becoming the well-respected and the world's leading digital intelligence logistics solution provider.

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