The China Federation of Logistics and Purchasing has recently released the “Top 50 Private Logistics Companies of 2023” list. Among the companies on the list, five are based in Shenzhen, with three of them located in Nanshan District.

The Shenzhen companies on the list include SF Express, YH Global Logistics, Kuayue Express, Chinatrans International, and EastTop. Among these enterprises, SFExpress, YH Global Logistics, and EastTop are based in Nanshan.

SF Express took the first spot on the top 50 private logistics companies.

The federation also released the “Top 50 Logistics Companies of 2023” list. The logistics business revenue of the top 50 enterprises totaled 2.36 trillion yuan (US$33 billion) in 2022, with a year-on-year increase of 13.4% based on a comparable basis.

The threshold for the top 50 logistics enterprises stood at 7.74 billion yuan, an increase of 1.58 billion yuan compared to the previous year. The total logistics business revenue of the top 50 logistics enterprises has increased to 18% of the total logistics industry revenue, the highest level in history.

The number of enterprises with a logistics revenue of over 100 billion yuan and over 10 billion yuan has increased to five and 34, respectively. Together, they contributed to almost 80% of the sector’s revenue.

Most of the companies on the list have moved beyond the initial digital transformation stages. Digitization, which is driving cost reduction and efficiency, is now crucial for successful profit model shifts among leading logistics firms.

Private logistic companies have become significant players among the top logistics enterprises as the entry threshold for the list stood at 2.83 billion yuan, representing a 13.1% increase compared to the previous year.

The top position was held by SF Express, followed by JD Logistics and Cainiao, which secured the second and third places on the list, respectively.