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China's largest delivery firm SF Express officially listed

  • Author:Joey
  • Source:chinatopwin
  • Release on :2017-03-10
China's largest delivery firm SF Express officially listed

China’s leading courier firm, Shunfeng Express made its debut on the Shenzhen Stock Exchange 
on Friday, furthering the competition in China’s delivery market.

The delivery company went public through back-door listing on the Shenzhen Stock Exchange, 
its reverse merger partner Maanshan Dintai Rare Earth & New Materials Co. was officially 
renamed SF Express, as per the material company.
Analysts say the market valuation of SF Express is estimated at around 210 billion yuan (30 
billion US dollars), making SF Express the biggest Chinese courier company by market 
capitalization.

The first day of SF Express stock reached its daily limit of 10 percent on the Shenzhen bourse, 
reaching 55.21 yuan (8.04 US dollars) at around 10:50 a.m. local time, about an hour and twenty 
minutes after Friday’s trading starts, and maintained at that price when trading hours ended at 
3 p.m.

The listing comes as China's booming courier service sector booked 400 billion yuan (58.22 
billion US dollars) in revenues in 2016. State Post Bureau officials expect the figure to grow to 
500 billion yuan (72.78 billion US dollars) this year.
China’s courier sector has seen fast securitization since 2016. YTO Express became the first 
listed delivery company in Chinese market in October, and ZTO made its debut on New York 
Stock Exchange one month later.
Built-from-scratch CEO Wang Wei to employees: Say less, do more.

The move also makes Wang Wei, SF Express's chairman and founder, worth more than 148 
billion yuan (21.54 billion US dollars), according to Sina Finance.
Built from scratch, the CEO is known for his humbleness in Chinese media outlets. The 
SF-Express CEO informed the public his responsibility during his the listing ceremony that he 
and his company isn’t the same anymore before they went public.
“From today, we cannot say whatever we want, go anywhere we want,” adding that the 
standard applies to him first, considering the company is now public.

He reminded his employee that, considering there is disclosure rules from China’s securities 
watchdog, that if he is not saying anything or doing anything, his employees should not say or 
do anything.

Talking about the enlarged responsibility his company now carries, he said “so let’s all say less 
and do more.”