Futu news, $SF HOLDING (06936.HK)$ The IPO of $S.F. Holding(06936.HK)$ will be from November 19, 2024, to November 22, 2024, with an issue price of HK$32.3-36.3 per share, intending to globally issue 0.17 billion H shares and to be dually listed on November 27, 2024, in both "A+H" markets. The dark pool of Futu will open at 16:15 on the 26th.

As of the time of writing, with a market cap of over HK$200 billion for the company's A shares (real-time exchange rates) as a reference, the market value of S.F. Holding's secondary listing will be ranked at the top of the Hong Kong aviation and logistics sector:

$SF HOLDING (06936.HK)$ : The company is a global leading comprehensive logistics service provider. According to the Frost & Sullivan report, based on the 2023 revenue, the group is the largest comprehensive logistics service provider in China and Asia, as well as the fourth largest globally.

In terms of financial overview, S.F. Holding's revenue increased from RMB 207.2 billion in 2021 to RMB 258.4 billion in 2023, with a compound annual growth rate of 11.7%; the company's revenue also increased by 8.1% from RMB 124.4 billion in the six months ended June 30, 2023, to RMB 134.4 billion in the same period of 2024.

In 2021, 2022, and 2023, S.F. Holding's annual profit attributable to the company's owners were RMB 4.7 billion, RMB 6.2 billion, and RMB 8.2 billion respectively, with a compounded annual growth rate of 31.9% since 2021; the period profit attributable to the company's owners also increased by 15.1% from RMB 4.2 billion in the six months ended June 30, 2023, to RMB 4.8 billion in the same period of 2024.

Among companies in the same industry, the IPO performance at that time was:

1. $ZTO EXPRESS-W (02057.HK)$ Opening 11.93% higher on the first trading day at 244 Hong Kong dollars, with pre-market turnover of 0.168 billion Hong Kong dollars. The grey market opened 2.75% higher, rose 6.7% from the offer price, and earned 730 Hong Kong dollars per lot. The public offering has a 70% chance of winning in one lot, allocating 1 firm share for every 10 lots drawn.

$ZTO Express (ZTO.US)$Mainly providing express delivery services and other value-added logistics services through a nationwide network, with express services mainly including parcel sorting and line transportation.

2. $J&T EXPRESS-W (01519.HK)$ Listed on the first day unchanged, reported at HK$12, with pre-market turnover exceeding 0.14 billion Hong Kong dollars. The grey market closed up 0.17%, reported at HK$12.02, earning HK$4 per hand. During the public offering stage, a total of 10,887 valid applications were received, with a 100% allotment rate for one lot, subscribing one lot and winning steadily.

Kerry Logistics is a main investment holding company mainly engaged in providing global logistics services.

3. $KERRY LOG NET (00636.HK)$ Listed on the first day rose by 1.87%, the grey market closed up by 10.78%, with a total turnover of 0.165 million shares in the grey market and a turnover of 1.86 million yuan.

Kerry Logistics is a main investment holding company mainly engaged in providing logistics services, and its international freight division provides international freight services within Asia and between Asia and Europe.

4. $SF INTRA-CITY (09699.HK)$ Listed on the first day, opened 7.43% lower, pre-market turnover of 81.22 million Hong Kong dollars. Dark pool opened 0.73% lower, ultimately closing down 3.9%, losing 128 Hong Kong dollars per lot. The public offering subscription rate for one lot is 70%, with one stable draw for every ten lots.

S.F. Same City is a Chinese company mainly engaged in same-city delivery. The company operates two divisions. The same-city instant delivery service division mainly provides third-party instant delivery services for a variety of commodities. The other business division engages in advertising display inspection services, and provides dining ordering and delivery services.

5. $CN LOGISTICS (02130.HK)$ Listed on the first day with a flat opening, pre-market turnover reached 22.477 million Hong Kong dollars. Dark pool closed at 2.68 Hong Kong dollars, up 0.75% from the offer price, earning 20 Hong Kong dollars per lot. There were 7,747 subscribers for the public offering, with a 20% subscription rate for one lot.

CN Logistics is a holding company mainly providing freight agency services, operating through three divisions along with its subsidiaries.

6. $FAR INTL (02516.HK)$ First trading day opened high, up 44.44%, pre-market turnover exceeded 8 million Hong Kong dollars. Grey market opened high, closed up 30%, turnover 1.8082 million Hong Kong dollars; 4000 shares per lot, without considering handling fees, earning 1080 Hong Kong dollars per lot. A total of 3,747 valid applications were received for public offering, 1,124 applications were accepted, and the percentage of H shares allocated per lot to the total number of applications was approximately 7.72%.

Pan-Asia International is a Chinese company mainly engaged in providing end-to-end cross-border logistics services, mainly classified as end-to-end cross-border delivery services, freight forwarding, and other logistics services.

7. $INFINITY L&T (01442.HK)$ Opening high by 8.06% on the first day, pre-market turnover reached 8.5885 million Hong Kong dollars. Grey market closed up by 16.13%, earning 500 Hong Kong dollars per lot. During the public offering stage, the number of public offering applicants was 12,439, with a 10% allotment rate per lot.

Infinity L&T is a Malaysian investment holding company, with business segments including comprehensive freight forwarding services, logistics centers and related services, land transportation services, container liquefied gas tank solutions and related services, as well as fourth-party logistics (4PL) services.

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Edited by Danial and Afina.