SF Express announced on October 26th that they had signed a strategic cooperation agreement with international distributor DHL. SF Express purchased the integrated supply chain, management teams, and relevant technologies of DHL in mainland China, Hong Kong, and Macao.
The trade plan shows that SF Express used the resources of SF Hong Kong, around 5.5 billion yuan [790 million USD] to purchase 100% of the shares of DHL Hong Kong and DHL Beijing, making it the sole shareholder.
SF Express stated that DHL used an approach in China that was light on capital, most property was rented. SF Express has large reserves, including land, warehouses, and distribution equipment. This cooperation will greatly decrease the cost price of DHL distribution in China.
Source: yicai.com