Shengfeng Development announces joint venture with Fujian Fulai Aviation
Joint Venture Announcement: Shengfeng Development has formed a joint venture with Fujian Fulai Aviation Technology, creating Fujian Shengfeng Fulai Low Altitude Comprehensive Services Co., Ltd. on November 5, 2024.
Focus on Drone Logistics: The new entity aims to combine Shengfeng Logistics's logistics expertise with Fulai Aviation's drone technology to enhance drone-based logistics solutions in China's low-altitude sector.
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Shengfeng Development Limited Announces Unaudited 2025 First Half Financial Results
Financial Performance: Shengfeng Development Limited reported a 16.0% increase in total revenue, reaching approximately $263.4 million for the first half of 2025, driven mainly by growth in transportation services.
Profit and Expenses: Gross profit rose by 14.2% to about $24.1 million, while net income increased by 19.3% to approximately $6.0 million; however, operating expenses also grew by 12.0%.
Operational Highlights: The company experienced a 17.1% increase in net revenues from transportation services, while warehouse storage management services saw a decline of 14.8%, reflecting a strategic focus on transportation.
Future Outlook: Shengfeng aims to sustain growth and improve margins in the latter half of 2025 by leveraging its logistics network and enhancing service capabilities across various industries.
Shengfeng Development Limited Strengthens Strategic Alliance with CATL to Pioneer New Energy Logistics Solutions
Strategic Partnership Announcement: Shengfeng Development Limited has formed a multi-year partnership with Contemporary Amperex Technology Co., Limited (CATL) valued at approximately 300 million RMB ($42 million USD) to enhance CATL's clean energy supply chain through advanced logistics solutions.
Focus on Sustainability and Innovation: The collaboration emphasizes eco-friendly logistics practices, including the use of alternative energy vehicles and real-time tracking systems, while also exploring next-generation logistics technologies to support the transition towards low-carbon supply chains.