(Yicai Global) March 19 -- China's biggest non-state-owned courier SF Holding has reported soaring revenue growth by diving straight into the eye of the new coronavirus epidemic while its competitors waned with slowing deliveries.

SF's logistics business revenue climbed 77 percent to CNY8.6 billion (USD1.2 billion) in February from a year ago due to an increasing workload amid rising parcel volumes, the Shenzhen-based firm said in a statement yesterday. 

The behemoth played a key role in ensuring swift deliveries amid the outbreak, market participants told Yicai Global. Meanwhile, Chinese cities, particularly in Central Hubei province, had halted trucks and train transport, the main modes for smaller players.

The company's three rivals also released their February earnings yesterday. YTO Express Group's revenue declined by 36 percent to CNY645 million (USD91.2 million). Yunda Holding's tally dropped 26 percent to CNY889 million. STO Express's revenue was 48 percent down at CNY468 million.

The outbreak has caused a rapid increase in the demand for fresh food and protective gear while local logistics operations and air cargo should be most shielded from the impact, Citic Securities said in a research report. 

Interestingly, SF has had its eyes on Hubei province, the early epicenter of the epidemic, for long. The company is in the process of building Asia's first airport dedicated to just cargo in Erzhou.

SF's stock price [SHE:002352] was 3.8 percent up at CNY44.90 (USD6.30) this afternoon. 

YTO Express shares [SHA:600233] dropped 2.4 percent to CNY10.98.

STO Express [SHE:002468] fell 2.2 percent to CNY17.03. 
Yunda Holding [SHE:002120] slid 1.5 percent to CNY27.07. 

Editor: Emmi Laine