In an exciting development, global logistics service provider, J&T Express, has recently announced its entry into a Share Transfer Agreement with Shenzhen Fengwang Holdings Co., Ltd., a subsidiary of S.F. Holding Co., Ltd. This strategic move involves the acquisition of 100% share rights of Shenzhen Fengwang Information Technology Co., Ltd., a wholly-owned subsidiary of Fengwang Holdings, for RMB 1.183 billion.
J&T Express has been making remarkable progress in the e-commerce express delivery sector since its establishment in the Chinese market in 2020. Following its successful acquisition of Best Inc.’s express business in China, J&T Express is now poised to further strengthen its position with the addition of Shenzhen Fengwang Express Co., Ltd., a subsidiary of Fengwang Information. Fengwang Express currently operates an extensive network covering 27 provinces, municipalities, and autonomous regions across China, offering top-notch services to e-commerce customers. With a revenue exceeding RMB 3.2 billion in 2022, Fengwang Express has demonstrated its stability and excellence in network service quality.
This strategic acquisition aligns with J&T Express’ commitment to continuously enhance the service experience within the e-commerce express delivery service industry. By integrating the capabilities of Fengwang Express, J&T Express aims to further optimize its comprehensive service offerings. This move is expected to drive high-quality development in the industry, bolstering J&T Express’ competitive advantage in the e-commerce delivery sector while contributing to the overall advancement of the industry.
S.F. Holding Co., Ltd. has expressed its confidence in the transaction, emphasizing the complementary nature of the resources between the two entities. This synergy will ensure a smooth transition and integration process. Going forward, S.F. will focus on the development of its core businesses, including domestic mid-to-high-end express, international express, global supply chain services, and digital supply chain services. Simultaneously, S.F. remains committed to strengthening its e-commerce express delivery products and services, catering to the diverse needs of customers in the high-end express delivery market.
With this strategic acquisition, J&T Express is set to consolidate its presence in the Chinese e-commerce delivery sector, delivering enhanced services and further propelling industry growth.
15 May 2023
