Leading Chinese logistics company SF Holding reported a 40.35% surge in net profit to 3.1 billion yuan ($430 million) in the first half of 2019, despite global trade uncertainty and slowing domestic demand.

Newer businesses including cold chain logistics, intra-city delivery and pharmaceutical product delivery “significantly contributed” to the company’s overall performance, SF said in a filing on Tuesday. Meanwhile, the company’s largest revenue source — regular express delivery — grew by 4% year-on-year to 26.8 billion yuan in the first half.

SF completed 2 billion delivery transactions and raked in 50.1 billion yuan in revenue during the first half, up 17.68% from a year ago, the company said.

Brokerages including CITIC Securities say cost-control actions that SF implemented last year also contributed to the company’s sustained profit growth.

SF's Shenzhen-listed shares rose 3.23% Wednesday.

Contact reporter Zhao Runhua (runhuazhao@caixin.com)