Caixin
Nov 16, 2021 08:04 PM
BUSINESS

Courier Giant to List Its Money-Losing Local Delivery Service in Hong Kong

Despite its growing losses, SF Intracity said that it will not seek short-term financial returns. Photo: IC Photo
Despite its growing losses, SF Intracity said that it will not seek short-term financial returns. Photo: IC Photo

A money-losing intracity delivery subsidiary of major Chinese courier SF Holding Co. Ltd. is on course to list in Hong Kong, as it looks to increase its funding sources and its share of the country’s competitive logistics industry.

Hangzhou SF Intracity Industrial Co. Ltd., which became an independent entity in 2019, has won approval to go public on the Hong Kong Stock Exchange, according to a post-hearing information pack filed on Monday. This comes about six months after SF Holding listed some of its property assets in the former British colony.

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