Shengfeng Development Limited Announces Completion of the Ningde Shengfeng Smart Logistics Center, Primarily Servicing CATL
Completion of Logistics Center: Shengfeng Development Limited has completed the Ningde Shengfeng Smart Logistics Center in China, primarily serving Contemporary Amperex Technology Co., Limited (CATL) in the battery manufacturing sector, with a total investment of approximately RMB 244.59 million.
Strategic Growth and Market Position: The new facility aims to enhance Shengfeng's operational capabilities and strengthen its relationships with key clients, particularly in the rapidly growing new energy vehicle sector, with a grand opening ceremony scheduled for December 20, 2024.
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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.