Hong Kong – J&T Global Express and S.F. Holding have entered into a strategic cross-shareholding arrangement through the mutual issuance of new shares, with the total investment valued at HK$8.3b. The transaction marks a deepening of the long-standing cooperation between the two logistics groups as they seek to strengthen their positions in the international logistics and e-commerce delivery market.
Under the terms of the agreement, J&T Global Express will allot 822 million class B shares to S.F. Holding at a price of HK$10.10 per share. At the same time, S.F. Holding will issue 226 million H shares to J&T Global Express at HK$36.74 per share.
Following completion, S.F. Holding will own 10% of J&T Global Express’s enlarged share capital, while J&T Global Express will hold approximately 4.29% of S.F. Holding’s enlarged issued shares.
The partnership is intended to combine the operational strengths and resources of both companies to develop a broader, more efficient and resilient international logistics platform. The collaboration is expected to support Chinese enterprises expanding overseas and respond to ongoing changes in global e-commerce supply chains.
“We are long-standing strategic partners, and this cross-shareholding marks a major milestone, elevating our relationship from operational collaboration to a closer, mutually beneficial strategic partnership,” Jet Lee, founder of J&T Express, stated.
Through the cross-shareholding structure, the two parties aim to realise complementary advantages across their respective networks. J&T Global Express contributes extensive last-mile delivery capabilities and localised operations spanning 13 markets, while S.F. Holding adds established expertise in cross-border first-mile services and long-haul transportation.
The combination is expected to improve end-to-end cross-border logistics coverage and competitiveness. Within China, the alignment of network assets, customer segments and service offerings is expected to create additional opportunities to extend service reach.
“We 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,” Wang Wei, founder of SF Holding, commented.
The agreement represents a shift from operational cooperation towards a more integrated strategic relationship, with both companies seeking to enhance efficiency across global logistics networks and capture growth opportunities linked to cross-border trade and international e-commerce, while delivering greater value across supply chains worldwide.
