(Yicai Global) March 13 -- SF Holdings Ltd. [SHE:002352] more than doubled profits last year on expansion and non-recurring revenue.
The Shenzhen-based company yesterday released its first annual report since its backdoor listing last month. It made CNY4.2 billion (USD610 million) in profit, soaring 113 percent from last year. With non-recurring gains and losses deducted, net profit attributable to shareholders was CNY2.6 billion, up 63 percent from a year earlier.
Last year, operating revenue was CNY57 billion, up 22 percent, mostly due to the rapid and constant growth of the industry during the year. Revenue from non-recurring sales increased by CNY1.2 billion.
In 2016, SF delivered 2.58 billion parcels, up 31 percent from the year before. It reported market share of 8.3 percent in terms of sales volume and 14.5 percent in operating revenue.