SF Express has become the third Chinese delivery company in 18 months to draw investor interest in the ecommerce sector by seeking a backdoor listing.
Low-cost delivery has fuelled online buying, since shipping costs frequently below $1 make it attractive to purchase even low-cost merchandise. But so far investors have largely been limited to shares of ecommerce platform operators such as Alibaba Group and JD.com.
Delivery companies large enough to be tracked delivered 20.7bn parcels in 2015, up 48 per cent from a year earlier, according to China’s State Post Bureau. Revenue rose 35 per cent to Rmb277bn.
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