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SF Express now the most valuable listed company in Shenzhen
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SHARES of SF Express Co, China's largest express delivery company, soared by 10 percent daily limit for a third time in five trading days since its debut, making it the most valuable company in Shenzhen Stock Exchange.
SF Express's market value in Shenzhen tapped a capitalization of 254.07 billion yuan (US$36.95 billion) by far, overtaking the country's biggest developer Vanke Co, and the electronics giant Midea Group in the Shenzhen market.
Wang Wei, chairman and founder of SF Express who holds about 65 percent of the firm, saw his personal wealth swelled to nearly 164.3 billion yuan on the stock debut by February 26, according to the real-time world's billionaires list compiled by Forbes.
SF Express expects to deliver 57.5 billion yuan of sales for 2016, up 19.5 percent from a year earlier. Profits for last year are expected to jump 280 percent to 4.2 billion yuan, according to company's filing to Shenzhen exchange last Friday.
SF Express was the fourth major delivery company in China to get listed on the mainland through reverse merger deals.
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