FUZHOU, China, April 22, 2025 /PRNewswire/ -- Shengfeng Development Limited (NASDAQ: SFWL) ("Shengfeng" or the "Company"), a leading integrated logistics solutions provider in China, today announced a multi-year strategic partnership with Contemporary Amperex Technology Co., Limited (CATL) (SZSE: 300750), a global leader in lithium-ion battery innovation (the "Partnership"). The collaboration which is expected to be valued at approximately 300 million RMB ($42 million USD), reinforces Shengfeng's pivotal role in advancing CATL's global clean energy supply chain and underscores its leadership in China's rapidly evolving new energy logistics sector.

FUZHOU, China, Dec. 18, 2024 /PRNewswire/ -- Shengfeng Development Limited ("Shengfeng" or the "Company") (NASDAQ: SFWL), a contract logistics company in China providing customers with integrated logistics solutions, announced today the completion of the Ningde Shengfeng Smart Logistics Center (the "Ningde Center"), a facility that will be primarily used to serve Contemporary Amperex Technology Co., Limited ("CATL"), a client of Shengfeng that operates in the battery manufacturing industry.

The Ningde Center was constructed with a total investment of approximately RMB 244.59 million and spans 47,423 square meters with a total building area of 59,442.71 square meters. This facility is designed to integrate warehousing and distribution, providing logistics solutions for CATL and its supply chain partners.

Revenue grows from $6.7 million to $13.9 million

FUZHOU, China, Nov. 25, 2024 /PRNewswire/ -- Shengfeng Development Limited ("Shengfeng" or the "Company") (NASDAQ: SFWL), a contract logistics company in China providing customers with integrated logistics solutions, announced today a 107.8% year-over-year increase in revenue generated from China Post Group Corporation during the 2024 Double 11 Shopping Festival.

The Double 11 Shopping Festival, also known as the "Singles' Day, is China's largest annual online shopping event, comparable to Black Friday in the United States. Held each year on November 11, the festival has evolved into a major e-commerce event, with consumers nationwide taking advantage of substantial discounts and promotions offered by various retailers. From October 20, 2024 to November 20, 2024, Shengfeng provided postal logistics services to China Post Group Corporation across multiple post offices. This collaboration resulted in an increase in Shengfeng's service volume and revenue. The Company's revenue from these services totaled RMB 100,221,043 (approximately $13.9 million), which was an increase from RMB 48,230,091 (approximately $6.7 million) during the same period in 2023, marking a 107.8% year-over-year growth.

FUZHOU, China, Nov. 18, 2024 /PRNewswire/ -- Shengfeng Development Limited ("Shengfeng" or the "Company") (NASDAQ: SFWL), a contract logistics company in China providing customers with integrated logistics solutions, announced today that on November 5, 2024, Shengfeng Logistics Group, a variable interest entity that the Company controls via a series of contractual arrangements ("Shengfeng Logistics"), forms a joint venture (the "Joint Venture") with Fujian Fulai Aviation Technology Co., Ltd. ("Fulai Aviation"). The new entity formed in respect of the Joint Venture, Fujian Shengfeng Fulai Low Altitude Comprehensive Services Co., Ltd., is expected to leverage Shengfeng Logistics's expertise in logistics with Fulai Aviation's drone technology to deliver drone-based logistics solutions across China's low-altitude logistics sector.

FUZHOU, China, Nov. 11, 2024 /PRNewswire/ -- Shengfeng Development Limited ("Shengfeng" or the "Company") (NASDAQ: SFWL), a contract logistics company in China providing customers with integrated logistics solutions, announced today a strategic expansion into the low-altitude economy in China. The Company believes this move will allow it to leverage its logistics expertise in an emerging field that integrates drone technology for streamlined, efficient logistics solutions across diverse sectors, particularly in high-demand and remote regions.

FUZHOU, China, Oct. 24, 2024 /PRNewswire/ -- Shengfeng Development Limited ("Shengfeng" or the "Company") (NASDAQ: SFWL), a contract logistics company in China providing customers with integrated logistics solutions, today announced that Mr. Yongxu Liu, the Company's Chairman, Chief Executive Officer and the largest beneficial shareholder of the Company, has purchased 500,000 Class A ordinary shares of the Company in the open market at an average price of $1.289 per share (the "Shares").

The purchases of Shares were made on October 14, 2024 and October 15, 2024.

FUZHOU, China, Sept. 24, 2024 /PRNewswire/ -- Shengfeng Development Limited ("Shengfeng" or the "Company") (NASDAQ: SFWL), a contract logistics company providing customers with integrated logistics solutions, today announced the renewal of its logistics services contract (the "Contract") with BYD Co. Ltd., China-based company principally engaged in the manufacture and sales of transportation equipment, including electric vehicles (EVs), battery technologies, and renewable energy ("BYD").

Since January 2023, BYD has been a key client for Shengfeng, and the renewal of the Contract underscores the success of this business alliance. Under the renewed Contract, Shengfeng will continue to provide critical logistics services, including the transportation of auto parts, molds, components, and fixtures for BYD's operations.

Revenue Up 22.8% Year Over Year, Driven by Expansion of Customer Relationships

FUZHOU, China, Sept. 4, 2024 /PRNewswire/ -- Shengfeng Development Limited ("Shengfeng" or the "Company") (NASDAQ: SFWL), a contract logistics company in China providing customers with integrated logistics solutions, today announced its unaudited financial results for the six months ended June 30, 2024.

Financial Highlights for the First Half of 2024: