HONG KONG — A fierce price war is coming hand-in-hand with an exponential growth in volume in China’s express delivery industry, hitting some of the sector’s biggest names and exposing the costs of a dash for growth.
The stiff competition has been made stiffer by a big increase in demand for deliveries brought on by the coronavirus pandemic. Some companies are striking alliances or seeking more growth abroad in search of a competitive edge.
Even market leader SF Holding has been dragged into the red. The Shenzhen-listed company said on April 8 that it expects a net loss between 900 million and 1.1 billion yuan ($137 million to $168 million) for the first three months of the year, compared with a net profit of 907.29 million yuan for the same period last year.
Shares in SF, which had been considered one of the few winners from the battle among parcel service providers in China, fell by…
