Yunda Holding net profits up 67% in 2018

SHENZHEN - Yunda Holding Co, a major Chinese express delivery firm, announced Wednesday that its 2018 net profits attributable to its shareholders rose 67.3 percent year-on-year to 2.66 billion yuan ($398 million).

Revenues gained 38.5 percent year-on-year to 13.8 billion yuan, Yunda Holding said in its preliminary financial results for 2018 filed to the Shenzhen Stock Exchange.

The profit growth came following steady business growth and continued cost control, the Shanghai-based company said.

China's booming e-commerce drove the growth of the express delivery sector and the firm offered better services to attract more customers, it stated.

Shares of Yunda Holding closed the morning session 2.85 percent higher at 35.67 yuan Wednesday in Shenzhen.