Shenzhen Fengwang Express is a wholly-owned subsidiary of Fengwang Information. Its network currently covers 27 provinces, municipalities and autonomous regions across China, providing high quality services to e-commerce customers. In 2022, Fengwang’s revenue exceeded RMB 3.2 billion. The overall network service quality is stable, according to the group.
Global logistics service provider J&T Express has entered into a share transfer agreement with Shenzhen Fengwang Holdings, a subsidiary of SF Holding on May 16. The acquisition comes following J&T Express’ acquisition of Best Inc’s express business in China in late 2021.
Under the agreement, J&T Express’ subsidiary J&T Express (Shenzhen) Supply Chain, will acquire 100% share rights of Fengwang Holding’s wholly-owned subsidiary, Shenzhen Fengwang Information Technology for RMB1.18 billion ($227.4 million).
