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J&T Global Express and SF Holding have announced a strategic agreement for mutual participation aimed at building a new global smart logistics ecosystem. In a statement on January 14, 2026, the two companies announced that they have signed a contract for the exchange of shares, which involves an investment volume of HKD 8.3 billion.
As part of this agreement, J&T Express will issue 822 million Class B shares to SF Holding at an issue price of HKD 10.10 per share. At the same time, SF Holding will issue 226 million H shares to J&T Express at a subscription price of HKD 36.74 per share. Upon completion of the transaction, SF Holding will hold approximately 10% of the issued shares of J&T Express, while J&T Express will own about 4.29% of the issued shares of SF Holding.
Integration of Resources of Both Companies
This collaboration aims to integrate the resources of both companies and create a more comprehensive, efficient, and resilient global logistics network. This is intended to help both companies better serve Chinese firms expanding internationally and adapt to the changing conditions in the global e-commerce logistics market.
The structure of mutual participation is designed to unlock strategic synergies. J&T brings an extensive last-mile network and local operational experience in 13 countries, while SF Holding has central resources and mature operating systems in the area of cross-border first miles and line haul. Together, the companies aim to improve the network coverage and competitiveness of their cross-border logistics solutions. In China, there are significant complementarities in network resources, customer bases, product structures, and differentiated positioning, creating broad opportunities to expand service boundaries.
In a joint statement, Jet Lee, founder of J&T Express, and Wang Wei, founder of SF Holding, emphasized that the two companies are long-term strategic partners. This mutual participation represents a significant step that evolves their collaboration from operational cooperation to a closer, mutually beneficial strategic partnership. Together, they aim to build a more efficient global smart logistics network and seize the historical opportunities arising from the internationalization of Chinese companies and the rise of cross-border e-commerce. The goal is to provide greater value to customers along global supply chains.
