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China courier giants post robust revenue growth in October

Xinhua | Updated: 2019-11-19 17:02
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A delivery truck of Yunda Express drives on a road in Shenzhen, South China's Guangdong province, Feb 11, 2017. [Photo/IC]

BEIJING - Three major Chinese express delivery companies reported robust revenue growth in October amid an e-commerce boom in the world's second-largest economy.

In a filing to the Shenzhen Stock Exchange, SF Holding said its revenue from the express delivery business rose 24.5 percent year-on-year to 8.98 billion yuan ($1.28 billion) last month.

In October, SF Holding, a leader in the middle and high-end courier service market, handled 438 million parcels, an annual increase of 48.5 percent.

Smaller rival Yunda Holding reported much stronger business growth. It generated a revenue of 2.8 billion yuan, up 150 percent year-on-year, and handled 865 million parcels, an increase of 30.3 percent.

STO Express said it generated a revenue of 1.98 billion yuan, up 19.4 percent, and handled 702 million parcels, up 37.4 percent.

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