Changes in Hong Kong stocks | SF Express Tongcheng (09699) rose more than 7% in early trading and recently renewed a cooperative framework agreement with SF Holdings to lock in a three-year long-term cooperation

The Zhitong Finance App learned that SF Express Tongcheng (09699) rose more than 7% in early trading. As of press release, it rose 6.18% to HK$8.07, with a turnover of HK$19.6561 million.

According to the news, on October 26, SF Express Tongcheng announced that it has signed a 2027-2029 cooperation framework agreement with SF Holdings to renew the 2024-2026 cooperation framework agreement for instant delivery services in the same city. The new agreement will last for three years from the effective date. The announcement also revealed that the transaction volume related to “last mile” delivery services between the two sides increased from 6.369 billion yuan in 2024 to 9.58 billion yuan in 2025. It has reached 7.213.6 billion yuan in the first nine months of 2026, and the business scale has maintained a steady development trend.

Guohai Securities released a research report saying that as the largest third-party instant delivery platform in China, SF Tongcheng is benefiting from the rapid growth of the instant retail industry. The distribution business in Tongcheng is expected to usher in a period of strategic opportunity. Combined with the Group's resource support and technology, it is optimistic that the company's performance will grow.