(Hong Kong, 15 January 2026) J&T Global Express (1519.HK) and SF Holding (002352.SZ, 6936.HK) announced a strategic cross-shareholding arrangement involving the mutual issuance of new shares, with a total transaction value of HKD8.3 billion. Under the agreement, J&T will issue 822 million Class B shares to SF Holding at HKD10.10 per share, while SF Holding will issue 226 million H shares to J&T at HKD36.74 per share.
Upon completion of the transaction, SF Holding will hold 10% of J&T Global Express’s enlarged issued share capital, while J&T Global Express will own approximately 4.29% of SF Holding’s enlarged issued shares. The companies said the arrangement is intended to deepen strategic alignment and integrate complementary resources, enabling both parties to jointly build a more extensive, efficient and resilient global integrated logistics network amid the rapid expansion of cross-border e-commerce.
The partnership combines J&T’s last-mile delivery network and localised operations across 13 countries with SF Holding’s strengths in first-mile collection, line-haul transportation and established operating systems. In a joint statement, J&T founder Jet Lee and SF Holding founder Wang Wei said the cross-shareholding elevates their long-standing cooperation into a closer strategic partnership, positioning both groups to better support Chinese enterprises expanding overseas and to capture growth opportunities arising from global supply chain transformation.
