Global logistics provider J&T Express has announced its plans to acquire 100% share rights of Fengwang Express for RMB 1.18 billion (approximately $227.4 million). This acquisition is part of a share transfer agreement made with Shenzhen Fengwang Holdings, a subsidiary of SF Holding, on May 16.
J&T Express, through its subsidiary J&T Express (Shenzhen) Supply Chain, will gain full control of Shenzhen Fengwang Information Technology, the parent company of Fengwang Express. Fengwang Express operates across 27 provinces, municipalities, and autonomous regions in China, delivering services primarily to e-commerce customers. In 2022, Fengwang Express reported revenues exceeding RMB 3.2 billion, with stable network service quality.
The transaction is subject to regulatory conditions, including China’s Examination of Concentrations of Undertakings by the State Administration for Market Regulation. Timely settlement of the transaction is also a key factor.
J&T Express believes this acquisition will strengthen its integrated service capabilities and increase its competitive advantage in the e-commerce delivery sector. SF Holding, the parent company of Fengwang Express, noted that the resources of both companies are complementary, ensuring a smooth transition. Post-acquisition, SF Holding plans to focus more on its core businesses, such as domestic mid-to-high-end express services.
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