SF Express, China’s largest courier, made a backdoor listing on the Shenzhen Stock Exchange as Maanshan Dingtai Rare Earth & New Materials Co was officially renamed SF Holding Co. The stock rallied by the 10% limit to CNY55.21, taking its total value to CNY230 billion, the most valuable company on the exchange. Founded in 1993, SF Holding’s service covers more than 200 countries and regions with 34 airplanes and about 15,000 vehicles. The listing also makes Chairman and Founder, Wang Wei, worth more than CNY140 billion, the richest man in the private delivery industry. The entrepreneur said the biggest aim of SF Express’ listing was to raise more funds in order to improve its service. SF Holding has raised approximately CNY8 billion though the listing and plans to invest it in aviation and other transport equipment, information platforms and logistic technology. The company announced that the net profit attributable to its shareholders was CNY4.18 billion in 2016, more than the total of three other industry leaders – STO Express, Yunda Express and YTO Express, who were all listed last year, the China Daily reports.