S.F. Holding Co., Ltd.

SZSE:002352 Stock Report

Market Cap: CN¥163.5b

S.F. Holding Future Growth

Future criteria checks 1/6

S.F. Holding is forecast to grow earnings and revenue by 9.5% and 6.7% per annum respectively. EPS is expected to grow by 9.3% per annum. Return on equity is forecast to be 11.9% in 3 years.

Key information

9.5%

Earnings growth rate

9.28%

EPS growth rate

Logistics earnings growth13.8%
Revenue growth rate6.7%
Future return on equity11.94%
Analyst coverage

Good

Last updated13 Jul 2026

Recent future growth updates

Recent updates

New Narrative • Jul 09

Global Supply Chain Expansion And Automation Will Transform This Logistics Leader’s Future Prospects

Catalysts About S.F. Holding S.F. Holding is a China based integrated logistics company with express delivery, freight, supply chain and international services. What are the underlying business or industry changes driving this perspective?
Narrative Update • Jun 17

002352: Share Repurchases And Dividend Policy Will Support Future Upside Potential

Analysts have slightly reduced their price target on S.F. Holding, with updated fair value estimates moving from CN¥47.92 to CN¥47.52 as they fine tune assumptions around discount rates, revenue growth, profit margins and future P/E expectations. What's in the News for S.F. Holding S.F. Holding closed an H share private placement on 9 June 2026, raising net proceeds of about HK$8,288,750,000.
Narrative Update • Jun 03

002352: Expanded Share Repurchases And Dividend Will Support Future Upside Potential

Analysts have nudged their price target for S.F. Holding slightly lower to CN¥47.92 from CN¥47.92, reflecting small adjustments to assumptions around the discount rate, revenue growth, profit margins, and future P/E expectations. What's in the News A board meeting is scheduled for March 20, 2026 to consider changing the use of certain proceeds from the global offering.
Narrative Update • May 11

002352: Expanded Share Buybacks And Dividend Will Support Future Upside Potential

Analysts have trimmed their price target for S.F. Holding to about CN¥47.92 from roughly CN¥48.76, reflecting updated assumptions around a slightly lower revenue growth outlook, a modestly higher profit margin, a small reduction in the discount rate, and a reduced future P/E multiple. What's in the News The board plans to meet on March 20, 2026 to review a proposal to change how certain proceeds from the global offering will be used.
Narrative Update • Apr 26

002352: Expanded Share Buybacks And Dividend Will Support Future Upside Potential

Analysts have trimmed their price target on S.F. Holding slightly to reflect a fair value estimate of about CN¥48.76. This estimate is supported by updated assumptions for discount rate, revenue growth, profit margin and future P/E.
Narrative Update • Apr 10

002352: Expanded Buybacks And Capital Reduction Will Support Future Upside Potential

Analysts have moderately reduced their price target for S.F. Holding to about CN¥49.23 from CN¥49.84, citing updated assumptions for revenue growth, profit margins, the discount rate and future P/E expectations. What's in the News From January 1, 2026 to March 31, 2026, S.F. Holding repurchased 28,083,500 shares for CNY 1,057.28m, taking total repurchases under the April 28, 2025 buyback to 67,043,189 shares for CNY 2,599.77m, representing 1.33% of shares (Key Developments).
Narrative Update • Mar 27

002352: Completed Share Repurchases Will Support Future Upside Potential

Analysts have trimmed their price target for S.F. Holding slightly to around CN¥49.84 from about CN¥50.10, reflecting modest adjustments to fair value, discount rate, revenue growth, profit margin and future P/E assumptions. What's in the News S.F. Holding updated investors on its ongoing share repurchase program under the buyback announced on April 28, 2025 (company disclosure).
Narrative Update • Mar 12

002352: Share Repurchases And Stable Profit Outlook Will Support Future Upside Potential

Analysts now estimate fair value for S.F. Holding at CN¥50.10 per share, which is broadly consistent with the previous target. This view is supported by slightly lower assumed discount rates, a marginally softer profit margin outlook, and a similar forward P/E framework.
Narrative Update • Feb 26

002352: Share Buybacks And Governance Reforms Will Support Future Upside Potential

Analysts have maintained their CN¥50.10 price target on S.F. Holding, citing only small tweaks to underlying assumptions such as the discount rate, long term revenue growth, profit margin, and future P/E expectations. What's in the News S.F. Holding completed a share buyback program first announced on April 28, 2025, repurchasing a total of 38,959,689 shares, representing 0.78% of share capital, for CNY 1,542.49 million (Key Developments).
Narrative Update • Feb 11

002352: Share Repurchases And Governance Reforms Will Support Future Share Price Appreciation

Analysts have slightly adjusted their view on S.F. Holding, trimming the average 12 month price target by a small amount to reflect modestly lower discount rate and future P/E assumptions while keeping fair value broadly anchored around CN¥50.10. What's in the News S.F. Holding completed a share repurchase of 38,959,689 shares, representing 0.78% of its share capital, for a total of CNY 1,542.49m under the buyback program announced on April 28, 2025 (Key Developments).
Narrative Update • Jan 26

002352: Expanded Buyback Program Will Support Future Share Price Appreciation

Analysts have made a slight reduction to their price target on S.F. Holding, reflecting modest adjustments to fair value, discount rate, revenue growth, profit margin, and future P/E assumptions rather than any major shift in the underlying story. What's in the News Between October 1, 2025 and December 31, 2025, S.F. Holding repurchased 31,527,041 shares, representing 0.63% of its share capital, for CNY 1,242.5 million under its ongoing buyback plan (company filing).
Narrative Update • Jan 11

002352: Expanded Buyback And Governance Reforms Will Support Future Share Price Appreciation

Analysts have slightly reduced their price target on S.F. Holding, reflecting modest adjustments to fair value assumptions, the discount rate, revenue growth, profit margin, and future P/E expectations. What's in the News From October 1, 2025 to December 31, 2025, S.F. Holding repurchased 31,527,041 shares, representing 0.63% of its share capital, for CNY 1,242.5 million under its ongoing buyback program (company disclosure).
Narrative Update • Dec 15

002352: Expanded Share Buyback Authorization Will Support Future Share Price Appreciation

Analysts have nudged their price target on S.F. Holding only marginally higher, reflecting slightly increased assumptions for long term revenue growth and discount rate while keeping fair value essentially unchanged at about $50.68 per share. What's in the News S.F. Holding has called a special or extraordinary shareholders meeting for December 30, 2025 at 15:00 China Standard Time in Shenzhen, China to address corporate matters requiring shareholder approval (Key Developments) On October 30, 2025, the company increased its equity buyback authorization by CNY 2,000 million to a total of CNY 3,000 million and extended the program through October 29, 2026, indicating an ongoing capital return to shareholders (Key Developments) Between April 28, 2025 and September 30, 2025, S.F. Holding repurchased 7,432,648 shares, representing 0.15 percent of its share capital, for CNY 299.99 million, completing a previously announced buyback tranche (Key Developments) Valuation Changes The fair value estimate remained effectively unchanged at about $50.68 per share, indicating no material revision to intrinsic value.
Narrative Update • Nov 29

002352: Buyback Increase To CN¥3,000 Million Will Drive Share Price Higher

Analysts have modestly lowered their price target for S.F. Holding, with updated estimates now at ¥50.68. Recent reassessments reflect small shifts in expected discount rate and earnings multiples.
Narrative Update • Nov 15

002352: Increased Buyback Authorization Will Support Share Price Over Next Year

Analysts have revised their price target for S.F. Holding downward from $52.35 to $50.68. They cited slightly reduced expectations for revenue growth and profit margins, as well as a marginally higher discount rate.
Narrative Update • Oct 31

002352: Share Buyback Expansion And Dividend Actions Will Drive Next Phase

Narrative Update on S.F. Holding: Analyst Price Target Change Analysts have lowered their fair value estimate for S.F. Holding from ¥54.02 to ¥52.35. They attribute the change to more cautious projections for revenue growth, a slightly higher discount rate, and only modest improvements in profit margins.
Narrative Update • Sep 14

Southeast Asia Freight And Digital Automation Will Open New Markets

S.F. Holding’s key financial metrics, including discount rate and net profit margin, showed negligible changes, resulting in the consensus analyst price target remaining essentially stable with a slight decrease from CN¥54.58 to CN¥54.02. What's in the News Extraordinary General Meeting to consider changes in registered capital, amendments to articles of association, and stock ownership plan.
Narrative Update • Aug 31

Southeast Asia Freight And Digital Automation Will Open New Markets

S.F. Holding’s valuation metrics remain stable, with both the discount rate and net profit margin showing negligible changes, supporting a marginal increase in the consensus analyst price target from CN¥54.96 to CN¥55.59. What's in the News Board approved interim results for six months ended June 30, 2025, and is considering payment of an interim dividend.
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New Narrative • Mar 30

Southeast Asia Freight And Digital Automation Will Open New Markets

Strategic focus on international growth and technological innovation aims to improve operational efficiency and revenue outside the domestic market.

Earnings and Revenue Growth Forecasts

SZSE:002352 - Analysts future estimates and past financials data (CNY Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/2028386,55015,15823,84435,14415
12/31/2027361,58313,57320,95331,26922
12/31/2026334,45412,11516,56728,57922
3/31/2026312,51911,40916,40226,858N/A
12/31/2025308,22711,11718,05027,555N/A
9/30/2025302,82010,86219,88229,049N/A
6/30/2025296,86911,10122,99331,401N/A
3/31/2025288,92910,49323,54131,514N/A
12/31/2024284,42010,17022,84232,186N/A
9/30/2024276,2599,58717,29028,146N/A
6/30/2024268,4548,86514,37426,467N/A
3/31/2024262,7028,42614,17426,999N/A
12/31/2023258,4098,23414,09826,570N/A
9/30/2023257,3557,96617,19829,302N/A
6/30/2023261,7927,83816,67129,815N/A
3/31/2023265,5546,87218,61632,201N/A
12/31/2022267,4906,17418,51932,703N/A
9/30/2022270,4736,94315,00530,801N/A
6/30/2022248,9076,02211,23727,739N/A
3/31/2022227,5516,2802,65621,413N/A
12/31/2021207,1874,269-3,83815,358N/A
9/30/2021180,2543,526-9,1589,659N/A
6/30/2021171,2024,324-8,7588,724N/A
3/31/2021163,0655,430-6,1588,166N/A
12/31/2020153,9877,326-94411,324N/A
9/30/2020143,0177,0832,84812,073N/A
6/30/2020133,2486,4594,13511,232N/A
3/31/2020121,7075,4413,2149,609N/A
12/31/2019112,1935,797N/A9,121N/A
9/30/2019104,2725,889N/A8,515N/A
6/30/201998,4665,446N/A7,910N/A
3/31/201994,3784,831N/A6,527N/A
12/31/201890,9434,556N/A5,458N/A
9/30/201886,8874,110N/A6,992N/A
6/30/201881,6635,100N/A6,898N/A
3/31/201876,3954,988N/A6,678N/A
12/31/201771,2734,774N/A6,334N/A
9/30/201766,8594,533N/A5,367N/A
6/30/201763,5574,311N/A4,464N/A
3/31/201760,6314,274N/A4,758N/A
12/31/201657,4834,180N/A5,675N/A
12/31/201548,1011,101N/A2,782N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: 002352's forecast earnings growth (9.5% per year) is above the savings rate (2.4%).

Earnings vs Market: 002352's earnings (9.5% per year) are forecast to grow slower than the CN market (27.3% per year).

High Growth Earnings: 002352's earnings are forecast to grow, but not significantly.

Revenue vs Market: 002352's revenue (6.7% per year) is forecast to grow slower than the CN market (16.7% per year).

High Growth Revenue: 002352's revenue (6.7% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: 002352's Return on Equity is forecast to be low in 3 years time (11.9%).

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/14 08:31
End of Day Share Price 2026/07/14 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

S.F. Holding Co., Ltd. is covered by 38 analysts. 22 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Cherry LeungBernstein
Fan TsoBofA Global Research
Jiangnan LuoChina Galaxy Securities Co., Ltd.