SF Express, China’s largest private courier, reported Tuesday a total 2019 revenue of RMB 112.2 billion (USD 1.6 billion), a 23.4% increase from that of 2018 and marking the first time the courier crosses hundred billion annual revenue. Net income raised 27.2% from last year to RMB 5.797 billion (USD 830 million).
SF Express is widely recognized as a premium and dependable service with a high price tag and punctual delivery.
Chinese courier sector is taking a hit as part of the fallout of the coronavirus epidemic that led to city lockdowns and scarce labor force. The industry had a 12.6% year-over-year revenue slip in January. The number of parcels delivered also went down by 11.5%, said China State Post Bureau.
Yet SF Express was still able to keep the growth momentum in the past month, thanks to the “Sky + Ground + Information Network” it spent years building, especially the “Sky Network” which includes air crafts and drones as delivery vehicles.
On February 13, SF Express’s drones delivered 70 kg of medical supplies to a hospital in Wuhan city, the epicenter of the epidemic outbreak, KrASIA reported earlier.