J&T Global Express and S.F. Holding Co. announced the signing of a definitive strategic cross-shareholding agreement. The landmark transaction, valued at HKD 8.3 billion, signals a deepened commitment to integrating global resources and capturing the rapidly expanding international e-commerce market.
Under the terms of the agreement, the two logistics giants will engage in a mutual issuance of new shares:
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J&T Express Issuance: J&T will issue 822 million Class B Shares to SF Holding at HKD 10.10 per share.
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SF Holding Issuance: SF Holding will issue 226 million H Shares to J&T Express at HKD 36.74 per share.
Upon completion of the transaction, SF Holding will hold a 10% stake in J&T Express, while J&T Express will hold approximately 4.29% of SF Holding.
This partnership is designed to leverage the distinct competitive advantages of both companies to create a more resilient and efficient global logistics network. The collaboration focuses on two primary pillars:
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Global Network Integration: J&T Express will provide its extensive “last-mile” delivery networks and localized expertise across 13 countries. This will be paired with SF Holding’s robust “first-mile” infrastructure, line-haul capabilities, and mature cross-border operating systems.
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Support for Chinese Enterprise Expansion: By combining resources, the two companies aim to provide end-to-end solutions for Chinese brands expanding into international markets, ensuring seamless supply chain management from factory to front door.
In a joint statement, Mr. Jet Lee, Founder of J&T Express, and Mr. Wang Wei, Founder of SF Holding, emphasized the long-term vision of the alliance: “This cross-shareholding marks a major milestone, elevating our relationship from operational collaboration to a closer, mutually beneficial strategic partnership. We will work together to build a more efficient global smart logistics network, seizing the historic opportunities created by Chinese enterprises going global and the rise of cross-border e-commerce.
In the domestic China market, the partnership is expected to create significant value through the optimization of network resources, customer bases, and product structures. By aligning their differentiated market positions, both J&T and SF Holding are positioned to expand their service boundaries and deliver enhanced value across global supply chains.
