SF Express revenue up 42% in H1

China's delivery giant SF Express raked in more than 71 billion yuan ($10.28 billion) in the first half of this year, up by 42 percent year-on-year, as the coronavirus pandemic has boosted the demand of delivery services.

The share price of the Shenzhen-based company hit the 10 percent limit up to a new all-time high of 80.21 yuan on Wednesday.

Its net profit grew by 21 percent from the previous year to 3.76 billion yuan. Express delivery – the company's core business – notched up to 3.66 billion parcels, a staggering 81.3 percent surge compared with a year earlier, while the industry average growth rate is about 22 percent.

During the period, the revenue of its international business, one of its fastest-growing sectors, also escalated about 140 percent to 2.9 billion yuan.

Another rocketing sector is its delivery service for e-commerce traders, the business volume of which more than doubled in the first six months over the last year.

China International Capital Corporation (CICC) commented the semiannual growth is beyond expectation and projected the market occupancy rate of SF Express would reach 12 percent in 2025, equivalent to 18 billion parcels.