(Yicai) Oct. 11 -- SF Holding, China's largest express delivery company, said it plans to distribute up to CNY6.7 billion (USD947 million) worth of dividends.

Around CNY4.8 billion will be distributed as a one-time special cash dividend to shareholders before SF's Hong Kong listing, the Shenzhen-based firm announced yesterday. The remaining just over CNY1.9 billion will be dividends for the first half of this year, it added.

SF will use its own capital as the source for the shareholder dividends, which will not significantly impact its debt-paying ability, according to the company. The interim dividends equal around 40 percent of the firm's first-half net profit, it noted.

The cash dividend ratio will steadily increase from 2024 to 2028 from 35 percent last year, as well as the frequency of dividend distribution, SF pointed out.

SF received approval from the China Securities Regulatory Commission for its secondary listing in Hong Kong in June, with plans to issue up to 625 million shares. The proceeds will be used to boost the coverage of the company's logistics services and network in Asia, it noted.

SF's net profit jumped 15.1 percent to CNY4.8 billion in the six months ended June 30 from a year earlier, with revenue rising 8 percent to CNY134.4 billion (USD19 billion), according to its latest financial report.

Shares of SF [SHE: 002352] climbed 0.2 percent to close at CNY41.73 (USD5.90) apiece today. The broader Shenzhen Component Index dropped 3.9 percent.

Editor: Martin Kadiev