Shengfeng management cites expanded services with existing clients as H1 2026 net revenue rises 18.4% to USD 311.8 million

Shengfeng Development’s management commentary for the six months ended June 30, 2026 cited net revenue up 18.4% to USD 311.8 million.

• Transportation services drove the gain, rising 18.4% to USD 301.6 million on expanded services with existing clients.
• Warehouse storage management revenue increased 14.9% to USD 8.1 million, attributed to new client wins.
• Gross margin narrowed to 8.6% from 9.1% as management pointed to competitive pricing pressure in China’s contract logistics market.
• Net income rose 9.6% to USD 6.6 million; selling and marketing expense fell 20.4% on restructuring-driven headcount reductions.