Abstract

SF Express continues to lead the Courier industry in China with its standardization, high quality and high effectiveness advantages. However, as customers' requirements for service quality continue to increase, the cost of express delivery industry continues to increase, and in the case of numerous express delivery industries and fierce competition, SF Holding's traditional business model and existing capital are difficult to stabilize its leading position in the express delivery industry. In order to ensure the expansion of its own capital and seize a favorable position in the market, SF Holding chose to go public in 2016 through the backdoor of Dingtai New Materials. This paper will explain in detail the principle, practical operation, strategy and practice behind the success of SF Express backdoor listing, and study the financial performance of SF Holding by analyzing four indicators of debt repayment, operation, development and profitability according to the financial index method, sum up the strategic experience of the enterprise, and provide effective reference for the development and transformation of similar enterprises.

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