Chinese courier giant SF Holding posted a 16.6 percent year-on-year decline in revenues from its express delivery business in February.

The revenues totalled 4.95 billion yuan (US$737 million), SF Holding said in a filing to the Shenzhen Stock Exchange.

SF Holding said the decline was mainly due to the different timing of the Chinese lunar new year holiday in 2018 and 2019.

Its combined revenues in January and February rose 13.9 percent year-on-year.

Also on Tuesday, smaller rival STO Express said in a stock exchange filing that its revenues from the express delivery business rose 77.7 percent to 896 million yuan last month.

YTO Express announced that its revenues from the express delivery service rose 39.7 percent to 1 billion yuan in February.

At 10:30 am Tuesday, shares of SF Holding fell about 1 percent, while shares of STO Express and YTO Express both rose more than 4 percent.