Shengfeng Development revenue rises 18 4 percent in H1 2026
Logistics provider Shengfeng Development Limited reported an 18 4 percent year on year revenue increase in its first half financial report following expanded client service contracts
FUZHOU, China - Shengfeng Development Limited, a contract logistics firm based in China, reported a 18.4% increase in revenue for the first half of 2026 compared to the same period in 2025. The company's total revenue rose from $263.4 million to $311.8 million over the six-month period, with transportation services being the primary contributor to the increase.
Gross profit also rose by 11.3%, from $24.1 million to $26.8 million, but the gross margin decreased due to competitive pricing pressures in the market. Net income grew by 9.6%, from $6.0 million to $6.6 million. Operating expenses increased by 9.1%, while selling and marketing expenses decreased by 20.4%. Cash and cash equivalents stood at $16.9 million as of June 30, 2026, down from $35.3 million at the end of 2025 due to investments in business expansion and increased working capital requirements.
Shengfeng CEO Yongxu Liu attributed much of the revenue growth to existing clients opting to expand their logistics operations with the company, highlighting the company's deepening partnerships and expanded service offerings.
Written by urgent.news from Vietnam Investment Review's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
