Shengfeng Development Limited (SFWL) 20-F/A 22 Apr 24 2023 FY Annual report (foreign) (amended) Financial data

Document And Entity Information

Document And Entity Information	12 Months Ended
	Dec. 31, 2023 shares
Document Information Line Items
Entity Registrant Name	Shengfeng Development Limited
Trading Symbol	SFWL
Document Type	20-F/A
Current Fiscal Year End Date	--12-31
Amendment Flag	true
Amendment Description	Shengfeng Development Limited (the “Company”) is filing this Amendment (this “Amendment”) to the annual report on Form 20-F filed on March 29, 2024 (the “Original Form 20-F”) to amend the date of the Report of Independent Registered Public Accounting Firm of Marcum Asia CPAs LLP, the Company’s auditor, included in the Original Form 20-F from “March 31, 2024” to “March 29, 2024.” Other than as expressly set forth above and herein, this Amendment does not, and does not purport to, amend, update or restate any other items or disclosures included in the Original Form 20-F or reflect any events occurring after March 29, 2024. The consolidated financial statements and notes to the consolidated financial statements remain the same as those contained in the Original Form 20-F.In accordance with Rule 12b-15 of the Securities Exchange Act of 1934, as amended, this Amendment also contains new certifications required by Sections 302 and 906 of the Sarbanes-Oxley Act of 2002, as amended, dated as of the filing date of this Amendment.
Entity Central Index Key	0001863218
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Well-known Seasoned Issuer	No
Document Period End Date	Dec. 31, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Entity Emerging Growth Company	true
Entity Shell Company	false
Entity Ex Transition Period	false
ICFR Auditor Attestation Flag	false
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Entity File Number	001-41674
Entity Incorporation, State or Country Code	E9
Entity Address, Address Line One	Shengfeng Building
Entity Address, Address Line Two	No. 478 Fuxin East Road Jin’an District
Entity Address, City or Town	Fuzhou City
Entity Address, Country	CN
Entity Address, Postal Zip Code	350001
Title of 12(b) Security	Class A Ordinary Shares
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes
Document Financial Statement Error Correction [Flag]	false
Document Accounting Standard	U.S. GAAP
Auditor Firm ID	711
Auditor Name	Friedman LLP
Auditor Location	New York, New York
Business Contact
Document Information Line Items
Entity Address, Address Line One	122 East 42nd Street
Entity Address, Address Line Two	18th Floor
Entity Address, City or Town	New York
Entity Address, Postal Zip Code	10168
Local Phone Number	591-83619860
Contact Personnel Name	Guoping Zheng, Chief Financial Officer
City Area Code	+86
Contact Personnel Email Address	guoping.zheng@sfwl.com.cn
Entity Address, State or Province	NY
Class A Ordinary Shares
Document Information Line Items
Entity Common Stock, Shares Outstanding	40,617,513
Class B Ordinary Shares
Document Information Line Items
Entity Common Stock, Shares Outstanding	41,880,000
Auditor One
Document Information Line Items
Auditor Firm ID	5395
Auditor Name	Marcum Asia CPAs LLP
Auditor Location	New York, New York

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands		Dec. 31, 2023	Dec. 31, 2022
Current Assets:
Cash and cash equivalents		$ 26,725	$ 21,285
Restricted cash		2,568	2,083
Notes receivable		7,496	4,885
Accounts receivable, net		97,698	89,110
Prepayments and other current assets, net		14,537	18,292
Total Current Assets		149,105	135,697
Property and equipment, net		41,069	40,265
Intangible assets, net		12,160	6,711
Operating lease right-of-use assets, net		18,020	27,880
Long-term investments		1,913	2,040
Deposit for investment		8,471	14,358
Deferred tax assets		6,247	3,587
Deferred issuance costs			81
Other non-current assets		28,853	14,640
Total Assets		265,838	245,259
Current Liabilities
Notes payable		8,471	2,046
Accounts payable		60,584	57,048
Short-term bank loans		36,130	47,655
Salary and welfare payables		4,636	3,241
Accrued expenses and other current liabilities		16,258	6,551
Operating lease liabilities, current		6,315	9,634
Tax payables		2,278	2,207
Total Current Liabilities		136,376	130,796
Operating lease liabilities, non-current		10,899	17,507
Deferred tax liabilities		4,254
Other non-current liabilities		1,996	1,870
Total Liabilities		153,525	150,173
Commitments and Contingencies
Equity
Additional paid-in capital		83,762	75,575
Statutory reserves		4,854	3,974
Retained earnings		26,689	17,275
Accumulated other comprehensive loss		(7,366)	(5,609)
Total Shengfeng Development Limited’s Shareholders’ Equity		107,947	91,223
Non-controlling Interests		4,366	3,863
Total Equity		112,313	95,086
Total Liabilities and Equity		265,838	245,259
Class A Ordinary Share
Equity
Ordinary share value	[1]	4	4
Class B Ordinary Share
Equity
Ordinary share value	[1]	4	4
Related Party
Current Assets:
Due from related parties		81	42
Current Liabilities
Due to related parties		$ 1,704	$ 2,414
[1] Shares and per share data are presented on a retroactive basis to reflect the reorganization.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares		Dec. 31, 2023	Dec. 31, 2022
Class A Ordinary Share
Ordinary share, par value (in Dollars per share)	[1]	$ 0.0001	$ 0.0001
Ordinary share, shares authorized	[1]	400,000,000	400,000,000
Ordinary share, shares issued	[1]	40,617,513	38,120,000
Ordinary share, shares outstanding	[1]	40,617,513	38,120,000
Class B Ordinary Share
Ordinary share, par value (in Dollars per share)	[1]	$ 0.0001	$ 0.0001
Ordinary share, shares authorized	[1]	100,000,000	100,000,000
Ordinary share, shares issued	[1]	41,880,000	41,880,000
Ordinary share, shares outstanding	[1]	41,880,000	41,880,000
[1] Shares and per share data are presented on a retroactive basis to reflect the reorganization.

Consolidated Statements of Inco

Consolidated Statements of Income and Comprehensive Income (Loss) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues
Total revenues		$ 404,121	$ 370,325	$ 346,699
Cost of revenues		(357,615)	(328,793)	(305,354)
Gross profit		46,506	41,532	41,345
Operating expenses
Selling and marketing		(6,688)	(7,427)	(7,720)
General and administrative		(25,912)	(24,259)	(25,038)
Total operating expenses		(32,600)	(31,686)	(32,758)
Income from operations		13,906	9,846	8,587
Other income (expense)
Interest income		126	1,274	1,330
Interest expense		(1,775)	(2,227)	(2,315)
Other income, net		371	532	559
Income before income taxes		12,628	9,425	8,161
Provision for income taxes		(2,320)	(1,599)	(1,517)
Net income		10,308	7,826	6,644
Less: Income (loss) attributable to non-controlling interests		14	39	(254)
Net income attributable to Shengfeng Development Limited’s shareholders		10,294	7,787	6,898
Comprehensive income (loss)
Net income		10,308	7,826	6,644
Foreign currency translation adjustment		(1,824)	(8,384)	2,085
Total comprehensive income (loss)		8,484	(558)	8,729
Less: comprehensive loss attributable to non-controlling interests		(53)	(188)	(241)
Total comprehensive income (loss) attributable to Shengfeng Development Limited		$ 8,537	$ (370)	$ 8,970
Weighted average shares outstanding used in calculating basic and diluted earnings per share:
Class A and Class B ordinary shares - Basic (in Shares)	[1]	81,806,660	80,000,000	80,000,000
Earnings per share
Class A and Class B ordinary shares - Basic (in Dollars per share)	[1]	$ 0.13	$ 0.1	$ 0.09
Transportation
Revenues
Total revenues		$ 383,211	$ 346,039	$ 327,848
Warehouse storage management service
Revenues
Total revenues		18,160	20,322	16,885
Others
Revenues
Total revenues		$ 2,750	$ 3,964	$ 1,966
[1] Shares and per share data are presented on a retroactive basis to reflect the reorganization.

Consolidated Statements of In_2

Consolidated Statements of Income and Comprehensive Income (Loss) (Parentheticals) - $ / shares		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Class A and Class B ordinary shares - Diluted	[1]	81,806,660	80,000,000	80,000,000
Class A and Class B ordinary shares - Diluted	[1]	$ 0.13	$ 0.10	$ 0.09
[1] Shares and per share data are presented on a retroactive basis to reflect the reorganization.

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($) $ in Thousands		Class A Ordinary Shares	Class B Ordinary Shares	Additional paid-in capital	Statutory reserves	Accumulated Retained earnings	Accumulated other comprehensive income (loss)	Non- controlling interests	Total
Balance at Dec. 31, 2020		$ 4	$ 4	$ 75,575	$ 3,155	$ 3,409	$ 476	$ 1,756	$ 84,379
Balance (in Shares) at Dec. 31, 2020	[1]	38,120,000	41,880,000
Disposal of equity investment								(628)	(628)
Capital contribution from non-controlling shareholders								3,418	3,418
Net income						6,898		(254)	6,644
Statutory reserves					275	(275)
Currency translation adjustments							2,072	13	2,085
Balance at Dec. 31, 2021		$ 4	$ 4	75,575	3,430	10,032	2,548	4,305	95,898
Balance (in Shares) at Dec. 31, 2021	[1]	38,120,000	41,880,000
Net income						7,787		39	7,826
Dividend to non-controlling shareholders								(254)	(254)
Appropriations to statutory reserves					544	(544)
Currency translation adjustments							(8,157)	(227)	(8,384)
Balance at Dec. 31, 2022		$ 4	$ 4	75,575	3,974	17,275	(5,609)	3,863	95,086
Balance (in Shares) at Dec. 31, 2022	[1]	38,120,000	41,880,000
Capital contribution from non-controlling shareholders								556	556
Net income						10,294		14	10,308
Appropriations to statutory reserves					880	(880)
Net proceeds from initial public offering				7,819					7,819
Net proceeds from initial public offering (in Shares)	[1]	2,400,000
Net proceeds from initial public offering - warrants				368					368
Shares issued for warrants exercised
Shares issued for warrants exercised (in Shares)	[1]	97,513
Currency translation adjustments							(1,757)	(67)	(1,824)
Balance at Dec. 31, 2023		$ 4	$ 4	$ 83,762	$ 4,854	$ 26,689	$ (7,366)	$ 4,366	$ 112,313
Balance (in Shares) at Dec. 31, 2023	[1]	40,617,513	41,880,000
[1] Shares and per share data are presented on a retroactive basis to reflect the reorganization.

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net income	$ 10,308	$ 7,826	$ 6,644
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property and equipment	6,446	6,955	5,925
Amortization of right-of-use assets and interest of lease liabilities	9,337	10,813	9,548
Amortization of intangible assets	591	526	542
Provision for credit losses	566	1,184	447
Income from equity method investment	(19)	(82)	(70)
(Gain) loss on disposal of property and equipment	(283)	89	145
Loss from disposal of subsidiaries	90		247
Deferred income taxes	1,524	1,238	1,482
Changes in operating assets and liabilities:
Notes receivable	(682)	(1,043)	9,375
Accounts receivable	(10,734)	(16,978)	(3,154)
Inventories			777
Prepayments and other current assets	3,450	(1,992)	(2,256)
Due from related parties	(40)
Other non-current assets	(3,670)
Notes payables	(2,022)	2,119	(2,364)
Accounts payable	4,509	7,897	2,467
Due to related parties	(80)
Salary and welfare payable	1,457	(965)	419
Accrued expenses and other current liabilities	177	551	110
Operating lease liabilities	(9,417)	(11,294)	(9,437)
Tax payables	105	(453)	(458)
Other non-current liabilities	500	539	4
Net cash provided by operating activities	12,113	6,930	20,393
Cash flows from investing activities:
Investment deposit refund	5,676
Purchase of intangible assets	(17,932)	(340)	(6,899)
Purchase of property and equipment	(10,780)	(6,908)	(22,579)
Proceeds from disposal of property and equipment	1,212	533	1,328
Proceeds from disposal of subsidiaries	51		480
Consideration deposit received from a third party	2,838
Dividend received from investment	114
Net cash used in investing activities	(18,821)	(6,715)	(27,670)
Cash flows from financing activities:
Proceeds from initial public offering	8,547
Proceeds from short-term bank loans	46,391	61,269	62,645
Repayments of short-term bank loans	(48,661)	(55,485)	(67,568)
Due from related parties			30
Due to related parties	(600)	600	(652)
Capital contribution from non-controlling shareholders	556		3,418
Dividend to non-controlling shareholders		(254)
Payment of deferred issuance costs	(279)	(81)
Advance from a third-party	7,237
Net cash provided by (used in) financing activities	13,191	6,049	(2,127)
Effects of exchange rate changes on cash, cash equivalents and restricted cash	(558)	(1,814)	538
Net increase (decrease) in cash, cash equivalents and restricted cash	5,925	4,450	(8,866)
Cash, cash equivalents and restricted cash, beginning of year	23,368	18,918	27,784
Cash, cash equivalents and restricted cash, end of year	29,293	23,368	18,918
Supplemental cash flow information:
Cash paid for income tax	634	187	247
Cash paid for interest	1,775	2,227	2,160
Non-cash transaction in investing and financing activities:
Liabilities incurred (settled) for purchase of property and equipment	(387)	(1,214)	2,599
Operating lease right-of-use assets (extinguished) obtained in exchange for operating lease liabilities	(1,347)	9,674	12,247
Reclassification of deferred issuance costs	81
Reconciliation to amount on consolidated balance sheets:
Cash and cash equivalents	26,725	21,285	18,643
Restricted cash	2,568	2,083	275
Total cash, cash equivalents and restricted cash	$ 29,293	$ 23,368	$ 18,918

Organization and Nature of Oper

Organization and Nature of Operations	12 Months Ended
	Dec. 31, 2023
Organization and Nature of Operations [Abstract]
ORGANIZATION AND NATURE OF OPERATIONS	1. ORGANIZATION AND NATURE OF OPERATIONS Shengfeng Development Limited (“Shengfeng” or the “Company”), is a holding company incorporated under the laws of the Cayman Islands on July 16, 2020, as an exempted company with limited liability. The Company has no substantive operations other than holding all of the outstanding share capital of Shengfeng Holding Limited (“Shengfeng HK”) established under the laws of Hong Kong on August 18, 2020. Shengfeng HK is also a holding company holding all of the outstanding equity of Fujian Tianyu Shengfeng Logistics Co., Ltd. (“Tianyu” or “Shengfeng WFOE” or “WFOE”), which was established on December 16, 2020 under the laws of the People’s Republic of China (“PRC” or “China”). The Company, through its variable interest entity (“VIE”), Shengfeng Logistics Group Co., Ltd. (“Shengfeng VIE” or “VIE”), and its subsidiaries, operates as a transportation and warehouse storage management services provider in the PRC. Shengfeng VIE was incorporated on December 7, 2001 under the laws of the PRC. Paid-in capital of Shengfeng VIE was approximately $27.17 million (approximately RMB189.6 million) as of December 31, 2023. On December 18, 2020, the Company completed a reorganization of entities under common control of its then existing shareholders, who collectively owned all of the equity interests of the Company prior to the reorganization. The Company, and Shengfeng HK were established as the holding companies of Shengfeng WFOE. Shengfeng WFOE is the primary beneficiary of Shengfeng VIE and its subsidiaries, and all of these entities included in the Company are under common control which results in the consolidation of Shengfeng VIE and its subsidiaries which have been accounted for as a reorganization of entities under common control at carrying value. The consolidated financial statements are prepared on the basis as if the reorganization became effective as of the beginning of the first period presented in the accompanying consolidated financial statements of the Company. The accompanying consolidated financial statements reflect the activities of the Company and each of the following entities, including its WFOE and VIE: No. Name of subsidiaries Place of Date of Percentage Principal activities 1 Shengfeng Holding Limited (“Shengfeng HK”) Hong Kong August 18, 2020 100 % Investment holding of Tianyu 2 Tianyu Shengfeng Logistics Group Co., Ltd. (“Tianyu”, formerly known as “Fujian Tianyu Shengfeng Logistics Co., Ltd “) Fujian, the PRC December 16, 2020 100 % Investment holding of Shengfeng VIE VIE and VIE’s subsidiaries: 3 Shengfeng Logistics Group Co., Ltd. (“Shengfeng VIE” or “Shengfeng Logistics”) Fujian, the PRC December 7, 2001 100 % Transportation and warehouse storage management service 4 Fuqing Shengfeng Logistics Co., Ltd. Fujian, the PRC April 15, 2011 100 % Transportation and warehouse storage management service 5 Xiamen Shengfeng Logistics Co., Ltd. Fujian, the PRC December 22, 2011 100 % Transportation and warehouse storage management service 6 Guangdong Shengfeng Logistics Co., Ltd. Guangdong, the PRC December 30, 2011 100 % Transportation and warehouse storage management service 7 Hainan Shengfeng Supply Chain Management Co., Ltd. Hainan, the PRC August 18, 2020 100 % Transportation and warehouse storage management service 8 Beijing Tianyushengfeng E-commerce Technology Co., Ltd. Beijing, the PRC January 9, 2004 100 % Transportation and warehouse storage management service 9 Beijing Shengfeng Supply Chain Management Co., Ltd. Beijing, the PRC April 13, 2016 100 % Transportation and warehouse storage management service 10 Shengfeng Logistics (Guizhou) Co., Ltd. Guizhou, the PRC August 15, 2017 100 % Transportation and warehouse storage management service 11 Shengfeng Logistics (Tianjin) Co., Ltd. Tianjin, the PRC March 8, 2016 100 % Transportation and warehouse storage management service 12 Shengfeng Logistics (Shandong) Co., Ltd. Shandong, the PRC March 15, 2016 100 % Transportation and warehouse storage management service 13 Shengfeng Logistics Hebei Co., Ltd. Hebei, the PRC February 17, 2016 100 % Transportation and warehouse storage management service 14 Shengfeng Logistics (Henan) Co., Ltd. Henan, the PRC March 28, 2016 100 % Transportation and warehouse storage management service 15 Shengfeng Logistics (Liaoning) Co., Ltd. Liaoning, the PRC March 2, 2016 100 % Transportation and warehouse storage management service 16 Shengfeng Logistics (Yunnan) Co., Ltd. Yunnan, the PRC January 25, 2016 100 % Transportation and warehouse storage management service 17 Shengfeng Logistics (Guangxi) Co., Ltd. Guangxi, the PRC February 1, 2016 100 % Transportation and warehouse storage management service 18 Hubei Shengfeng Logistics Co., Ltd. Hubei, the PRC December 15, 2010 100 % Transportation and warehouse storage management service 19 Shengfeng Logistics Group (Shanghai) Supply Chain Management Co., Ltd. Shanghai, the PRC August 26, 2015 100 % Transportation and warehouse storage management service 20 Shanghai Shengxu Logistics Co., Ltd. Shanghai, the PRC June 4, 2003 100 % Transportation and warehouse storage management service 21 Hangzhou Shengfeng Logistics Co., Ltd. Zhejiang, the PRC June 10, 2010 100 % Transportation and warehouse storage management service 22 Nanjing Shengfeng Logistics Co., Ltd. Jiangsu, the PRC August 30, 2011 100 % Transportation and warehouse storage management service 23 Suzhou Shengfeng Logistics Co., Ltd. Jiangsu, the PRC January 14, 2005 90 % Transportation and warehouse storage management service 24 Suzhou Shengfeng Supply Chain Management Co., Ltd. Jiangsu, the PRC August 9, 2019 100 % Transportation and warehouse storage management service 25 Shengfeng Supply Chain Management Co., Ltd. Fujian, the PRC June 19, 2014 100 % Transportation and warehouse storage management service 26 Fuzhou Shengfeng Transportation Co., Ltd. Fujian, the PRC April 18, 2019 100 % Transportation and warehouse storage management service 27 Sichuan Shengfeng Logistics Co., Ltd. Sichuan, the PRC June 27, 2019 100 % Transportation and warehouse storage management service No. Name of subsidiaries Place of Date of Percentage Principal activities 28 Fujian Shengfeng Logistics Co., Ltd. Fujian, the PRC April 2, 2020 100 % Transportation and warehouse storage management service 29 Fujian Dafengche Information Technology Co. Ltd. Fujian, the PRC August 26, 2020 100 % Software engineering 30 Ningde Shengfeng Logistics Co. Ltd. (a) Fujian, the PRC November 12, 2018 51 % Transportation and warehouse storage management service 31 Fujian Fengche Logistics Co., Ltd. (b) Fujian, the PRC October 28, 2020 0 % Transportation service 32 Shengfeng Logistics (Zhejiang) Co., Ltd. Zhejiang, the PRC February 1, 2021 100 % Transportation and warehouse storage management service 33 Chengdu Shengfeng Supply Chain Management Co., Ltd. Chengdu, the PRC October 12, 2021 100 % Supply chain management service 34 Shengfeng Logistics Group (Ningde) Supply Chain Management Co., Ltd. Fujian, the PRC September 23, 2022 100 % Supply chain management service 35 Anhui Shengfeng Supply Chain Management Co., Ltd. Anhui, the PRC November 29, 2023 100 % Transportation and warehouse storage management service Significant subsidiaries of Tianyu: 36 Yichun Shengfeng Logistics Co., Ltd. (c) Jiangxi, the PRC December 1, 2022 100 % Transportation and warehouse storage management service 37 Fujian Shengfeng Smart Technology Co., Ltd. (“SF Smart”) (d) Fujian, the PRC April 20, 2023 100 % Property management service 38 Shenzhen Tianyu Shengfeng Supply Chain Management Co., Ltd. (e) Shenzhen, the PRC May 19, 2023 100 % Supply chain management service 39 Fujian Pingtan Tianyu Shengfeng Technology Co., Ltd. (“Pingtan SF”) (f) Fujian, the PRC September 27, 2023 100 % Supply chain management service 40 Hubei Tianyu Shengfeng Logistics Co., Ltd Hubei, the PRC November 14, 2023 100 % Transportation and supply chain management service 41 Wanzai Shengfeng Logistics Co., Ltd Jiangxi, the PRC January 4, 2024 100 % Transportation and supply chain management service (a) On January 5, 2022, Shengfeng Logistics entered into a share transfer agreement with Fuzhou Puhui Technology Co., Ltd. (“Fuzhou Puhui”), an unrelated third party, to transfer its 49% equity interest in Ningde Shengfeng Logistics Co., Ltd. (“Ningde Shengfeng”) to Fuzhou Puhui. After the transaction, the Company owned a 51% equity interest in Ningde Shengfeng. (b) On June 5, 2023, 100% equity interest in Fujian Fengche Logistics Co., Ltd. was transferred to third parties. (c) On May 29, 2023, Yichun Shengfeng Logistics Co., Ltd. became a wholly owned subsidiary of Tianyu. (d) On April 20, 2023, SF Smart was set up in Fujian, China, with 55% of the equity interests owned by Tianyu, and 45% of the equity interests owned by Shengfeng Supply Chain Management Co., Ltd. For the year ended December 31, 2023, Tianyu, entered into an equity purchase agreement to sell its 51% equity interest in Pingtan SF and Pingtan SF’s subsidiary (SF Smart) to a third party. The transaction was completed on March 13, 2024. (e) On May 19, 2023, Shenzhen Tianyu Shengfeng Supply Chain Management Co., Ltd. was set up in Shenzhen, China. This entity is fully owned by Tianyu and will provide supply chain management service in the future. (f) On September 27, 2023, Pingtan SF was set up in Fujian, China, with 51% of the equity interests owned by Tianyu, and 49% of the equity interests owned by Shengfeng Supply Chain Management Co., Ltd. Tianyu further entered into an agreement to sell 51% equity interest of Pingtan SF and Pingtan SF’s subsidiary (SF Smart) to a third party for a consideration of $7.2 million (RMB51.0 million). Tianyu received $2.8 million (RMB20.0 million) as of December 31, 2023 and received the remaining balance subsequently. The transaction was completed on March 13, 2024. Contractual Agreements The Company conducts its operations through a series of agreements with the VIE and its subsidiaries as stated above. The VIE and its subsidiaries are utilized solely to facilitate the Company’s participation in transportation and warehouse storage management services in the PRC where foreign ownership is restricted. As such, Shengfeng VIE is controlled through contractual arrangements in lieu of direct equity ownership by the Company or any of its subsidiaries. Such contractual arrangements were made effective by a series of six agreements (“Contractual Arrangements”, or VIE Agreements, which were signed on January 7, 2021). As a result of the direct ownership in Tianyu and the Contractual Arrangements, the Company is regarded as the primary beneficiary of the VIE and its subsidiaries. Therefore, the VIE and its subsidiaries were treated as the consolidated entities under U.S. GAAP. The significant terms of the Contractual Arrangements are as follows: Equity Pledge Agreements Each equity holder of the VIE Company has pledged all of his/her shares in the VIE Company and all other rights relevant to the shares to WFOE, as a collateral security for his/her and/or the VIE Company’s obligations to pay off all debt to WFOE, including consulting and services fees payable to WFOE. In the event of default of any payment obligation, WFOE will be entitled to certain rights, including transferring the pledged shares to itself and disposing the pledged shares through a sale or auction. The Equity Pledge Agreement is effective until the full payment of the service fees under the Technical Consultation and Service Agreement and upon termination of Shengfeng Logistics’ obligations under the Technical Consultation and Service Agreement, or upon the transfer of shares of the Equity Shareholders. The purposes of the Equity Pledge Agreement are to (1) guarantee the performance of Shengfeng Logistics’ obligations under the Technical Consultation and Service Agreement, (2) make sure the Equity Shareholders do not transfer or assign the pledged shares, or create or allow any encumbrance that would prejudice Tianyu’s interests without Tianyu’s prior written consent, and (3) provide Tianyu control over Shengfeng Logistics under certain circumstances. In the event Shengfeng Logistics breaches its contractual obligations under the Technical Consultation and Service Agreement, Tianyu will be entitled to dispose of the pledged shares in accordance with relevant PRC laws. As of the date of this annual report, the share pledges under the Equity Pledge Agreement have been registered with the competent PRC regulatory authority. Exclusive Technical Consultation and Service Agreements The VIE Company has entered into an exclusive technical consultation and service agreement with WFOE, pursuant to which, WFOE is engaged to provide certain technical services to the VIE, depending on the licenses obtained and held by the VIE. This technical consultation and service agreement will remain effective for 20 years and it can be extended by WFOE unilaterally. WFOE is entitled to collect service fees for the services it provides to the VIE, and the service fees are adjusted annually through written agreements. Technical service fees are composed of the basic annual fee, which is equal to 50% of the after-tax income of the VIE Company, and a floating fee, which shall not exceed the after-tax income after deducting paid basic annual fees. Due to its control over the VIE Company, WFOE has the right to determine the service fees to be charged to the VIE Company by considering, among others, the technical complexity of the services, the actual costs that may be incurred for providing the services and the VIE Company’s revenue. The Technical Consultation and Service Agreement became effective on January 7, 2021 and will remain effective for 20 years. Such agreement can be extended if Tianyu provides its notice of extension to Shengfeng Logistics unilaterally prior to the expiration date of this agreement. Shengfeng Logistics shall use its best efforts to renew its business license and extend its operation term until and unless otherwise instructed by Tianyu. The Technical Consultation and Service Agreement does not prohibit related party transactions. Upon the establishment of the audit committee at the consummation of this offering, the Company’s audit committee will be required to review and approve in advance any related party transactions, including transactions involving Tianyu or Shengfeng Logistics. Exclusive Call Option Agreements The equity shareholders of the VIE (the “Equity Shareholders”) have granted WFOE the exclusive and irrevocable right to purchase or to designate one or more person(s) at their discretion to purchase part or all of the equity interests in the VIE from the Equity Shareholders for a purchase price at any time, subject to the lowest price permitted by PRC laws and regulations. The VIE and its Equity Shareholders have agreed that without prior written consent of WFOE, the respective Equity Shareholders cannot sell, transfer, pledge or dispose their equity interests, and the VIE cannot sell, transfer, pledge or dispose, including but not limited to, the equity interests, significant assets, significant revenue and significant business. Also as agreed, the VIE cannot declare any dividend or change capitalization structure of the VIE and cannot enter into any loan or investment agreements without prior written consent of WFOE. Furthermore, the Equity Shareholders of the VIE have agreed that any proceeds from, including but not limited to, the sales of the Equity Shareholders’ equity interests in the VIE should be gratuitously paid to WFOE or one or more person(s) at their discretion. The Call Option Agreement will remain effective until all equity options in VIE held by such Equity Shareholders are transferred or assigned to WFOE or their designated representatives. The Call Option Agreement remains effective until all the equity of Shengfeng Logistics is legally transferred under the name of Tianyu and/or other entity or individual designated by it. Voting Rights Proxy Agreement Pursuant to the irrevocable power of attorney, each of the Equity Shareholders of the VIE appointed WFOE as his or her attorney-in-fact to exercise such shareholder’s rights under PRC law and the relevant articles of association, including but not limited to, attending shareholders meetings, voting on their behalf on all matters requiring shareholders’ approval, including but not limited to, sale, transfer, pledge, or disposition of all or part of the Equity Shareholders’ equity interests, and designating and appointing the legal representative, directors, supervisors, chief executive officer and other senior management members of the VIE. Each power of attorney will remain in force until such Equity Shareholder ceases to be a shareholder of the VIE. Each shareholder has waived all his or her rights in connection with his or her equity interests, and confirmed that such rights have been authorized to WFOE under each power of attorney. The Voting Rights Proxy Agreement became effective on January 7, 2021 and will remain effective for 20 years. Such agreement can be extended if Tianyu provides its notice of extension unilaterally prior to the expiration date of this agreement. All other parties shall agree with such extension without reserve. Power of attorney Each of the Equity Shareholders has signed a power of attorney (the “Power of Attorney”), pursuant to which, each of the Equity Shareholders has authorized WFOE to act as his or her exclusive agent and attorney with respect to all rights of such individual as a shareholder of the VIE, including but not limited to: (a) attending shareholders’ meetings; (b) exercising all the shareholder’s rights that shareholders are entitled to under PRC laws and the Articles of Association of VIE, including but not limited to, sale, transfer, pledge and disposition of the equity interests of the VIE; and (c) designating and appointing the legal representative, chairperson, directors, supervisors, chief executive officer and other senior management members of the VIE. The Power of Attorney has the same term as the Voting Rights Proxy Agreement. The Powers of Attorney is irrevocable and continuously valid from the date of execution of the Powers of Attorney, so long as the Equity Shareholders are shareholders of Shengfeng Logistics. Spouse consent letter Each of the respective spouse of the individual Equity Shareholders has executed an additional spousal consent letter which contains terms as described below. Pursuant to the spousal consent letters, each of the respective spouse of the individual Equity Shareholders, unconditionally and irrevocably agreed that the equity interests in the VIE held by and registered in the name of his/her spouse will be disposed of pursuant to the equity pledge agreement, the exclusive call option agreement and the shareholders’ voting rights proxy agreement. The spouse agreed not to assert any rights over the equity interests in the VIE held by his/her spouse. Based on the foregoing Contractual Arrangements, which grant Shengfeng WFOE the effective control of Shengfeng VIE and enable Shengfeng WFOE to receive all of their expected residual returns, the Company accounts for Shengfeng VIE as a VIE. Accordingly, the Company consolidates the accounts of Shengfeng VIE for the periods presented herein, in accordance with Regulation S-X-3A-02 promulgated by the Securities Exchange Commission (“SEC”), and Accounting Standards Codification (“ASC”) 810-10, Consolidation.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Summary of Significant Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The accompanying audited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for information pursuant to the rules and regulations of the SEC. Principles of Consolidation The consolidated financial statements include the financial statements of the Company, its subsidiaries, VIE and VIE’s subsidiaries over which the Company exercises control and, where applicable, entities for which the Company has a controlling financial interest or is the primary beneficiary. All significant transactions and balances between the Company, its subsidiaries, VIE and VIE’s subsidiaries have been eliminated upon consolidation. Subsidiaries are those entities in which the Company, directly or indirectly, controls more than one half of the voting power; or has the power to govern the financial and operating policies, to appoint or remove the majority of the members of the board of directors, or to cast a majority of votes at the meeting of directors. A VIE is an entity in which the Company, or its subsidiary, through contractual arrangements, bears the risks of, and enjoys the rewards normally associated with, ownership of the entity, and therefore the Company or its subsidiary is the primary beneficiary of the entity. Non-controlling interest represents the portion of the net assets of subsidiaries attributable to interests that are not owned or controlled by the Company. The non-controlling interest is presented in the consolidated balance sheets, separately from equity attributable to the shareholders of the Company. Non-controlling interest’s operating results are presented on the face of the consolidated statements of income and comprehensive income as an allocation of the total income for the year between non-controlling shareholders and the shareholders of the Company. All significant transactions and balances between the Company, its subsidiaries, VIE and VIE’s subsidiaries have been eliminated upon consolidation. Use of Estimate and Assumptions The preparation of the Company’s consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods presented. Estimates are adjusted to reflect actual experience when necessary. Significant accounting estimates reflected in the Company’s consolidated financial statements include allowance for credit losses, discount rate used in operating lease right-of-use assets and valuation allowance for deferred tax asset. Actual results could differ from these estimates. Variable Interest Entities The Company applies the guidance codified in Accounting Standard Codification 810, Consolidations (“ASC 810”) on accounting for the VIE and its respective subsidiaries, which requires certain variable interest entities to be consolidated by the primary beneficiary of the entity in which it has a controlling financial interest. A VIE is an entity with one or more of the following characteristics: (a) the total equity investment at risk is not sufficient to permit the entity to finance its activities without additional financial support; (b) as a group, the holders of the equity investment at risk lack the ability to make certain decisions, the obligation to absorb expected losses or the right to receive expected residual returns, or (c) an equity investor has voting rights that are disproportionate to its economic interest and substantially all of the entity’s activities are on behalf of the investor. The accompanying consolidated financial statements include the financial statements of the Company, its subsidiaries and the VIE. The Company is considered the primary beneficiary of a VIE or its subsidiaries if the Company had variable interests, that will absorb the entity’s expected losses, receive the entity’s expected residual returns, or both. The Company’s total assets and liabilities presented in the accompanying consolidated financial statements represent substantially all of the total assets and liabilities of the VIE because the other entities in the consolidation are non-operating holding entities with nominal assets and liabilities. The following financial statement amounts and balances of the VIE were included in the accompanying audited consolidated financial statements for the years ended December 31, 2023, 2022 and 2021, respectively: As of 2023 2022 Current assets $ 146,894 $ 135,650 Non-current assets 103,055 109,481 Total assets $ 249,949 $ 245,131 Current liabilities $ 127,603 $ 130,196 Non-current liabilities 17,057 19,377 Total liabilities $ 144,660 $ 149,573 Net assets $ 105,289 $ 95,558 Years Ended December 31, 2023 2022 2021 Total revenues $ 401,825 $ 370,325 $ 346,699 Cost of revenues $ (355,662 ) $ (328,793 ) $ (305,354 ) Income from operations $ 14,420 $ 10,318 $ 8,587 Net income $ 10,828 $ 8,298 $ 6,644 Foreign currencies translation and transaction The reporting currency of the Company is the U.S. dollar. The Company in mainland China conducts its businesses in the local currency, Renminbi (RMB), as its functional currency. Assets and liabilities are translated at the unified exchange rate as quoted by the People’s Bank of China at the end of the period. The statement of income accounts is translated at the average translation rates and the equity accounts are translated at historical rates. Translation adjustments resulting from this process are included in accumulated other comprehensive income (loss). Transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency are included in the results of operations as incurred. Translation adjustments included in accumulated other comprehensive loss amounted to $7,366 and $5,609 as of December 31, 2023 and 2022, respectively. The balance sheet amounts, with the exception of shareholders’ equity, at December 31, 2023 and 2022 were translated at RMB7.0827 and RMB6.9646, respectively. The shareholders’ equity accounts were stated at their historical rates. The average translation rates applied to the statements of income accounts for the years ended December 31, 2023, 2022 and 2021 were RMB7.0467, RMB6.7261 and RMB6.4515 to $1.00 respectively. Cash flows are also translated at average translation rates for the periods, therefore, amounts reported on the consolidated statements of cash flows will not necessarily agree with changes in the corresponding balances on the consolidated balance sheets. Cash and cash equivalents Cash and cash equivalents represent demand deposits placed with banks or other financial institutions, which are unrestricted as to withdrawal or use, and which have original maturities of three months or less and are readily convertible to known amounts of cash. The Company maintains most of its bank accounts in the mainland of China. Cash balances in bank accounts in mainland China are insured by the People’s Bank of China Financial Stability Department (“FSD”) while there is a RMB 500,000 deposit insurance limit for a legal entity’s aggregated balance at each bank. As of December 31, 2023 and 2022, the Company had approximately $26.7 million and $21.3 million, respectively, of cash in banks, most held in the banks located in the mainland of China. Most of cash balance as of December 31, 2023 and 2022 are denominated in RMB. Restricted cash Restricted cash represents cash that cannot be withdrawn without the permission of third parties. The Company’s restricted cash is substantially cash balance in designated bank accounts as security for payment processing lawsuit and bank acceptance notes payables. Restriction on the use of such cash and the interest earned thereon is imposed by the banks and remains effective throughout the term of the security period. Upon maturities of the security period, the bank’s deposits are available for general use by the Company. Fair value of financial instruments ASC 825-10 requires certain disclosures regarding the fair value of financial instruments. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three-level fair value hierarchy prioritizes the inputs used to measure fair value. The hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: ● Level 1 — inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. ● Level 2 — inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, quoted market prices for identical or similar assets in markets that are not active, inputs other than quoted prices that are observable and inputs derived from or corroborated by observable market data. ● Level 3 — inputs to the valuation methodology are unobservable. Unless otherwise disclosed, the fair value of the Company’s financial instruments, including cash, restricted cash, accounts receivable, prepayments and other current assets, due from related parties, accounts payable, due to a related party, short-term bank loans, salary and welfare payables, accrued expenses and other current liabilities, current operating lease liabilities and taxes payable, approximates their recorded values due to their short-term maturities. The carrying value of long-term lease liabilities approximated its fair value as of December 31, 2023 and 2022 as the interest rates applied reflect the current market yield for comparable financial instruments. Notes receivable Notes receivable represents trade accounts receivable due from various customers where the customers’ banks have guaranteed the payments. The notes are non-interest bearing and normally paid within three to twelve months. The Company has the ability to submit request for payment to the customer’s bank earlier than the scheduled payment date but will incur an interest charge and a processing fee. As of December 31, 2023 and 2022, no notes were pledged . Accounts receivable, net Accounts receivable are recognized in the period when the Company has provided services to its customers and when its right to consideration is unconditional. On January 1, 2023, the Company adopted ASU 2016-13, “Financial Instruments — Credit Losses (Accounting Standards Codification (“ASC” Topic 326): Measurement on Credit Losses on Financial Instruments”, including certain subsequent amendments, transitional guidance and other interpretive guidance within ASU 2018-19, ASU 2019-04, ASU 2019-05, ASU 2019-11, ASU 2020-02 and ASU 2020-03 (collectively, including ASU 2016-13, “ASC 326”). ASC 326 introduces an approach based on expected losses to estimate the allowance for doubtful accounts, which replaces the previous incurred loss impairment model. The adoption of this guidance did not have a material impact on the Company’s consolidated financial statements. The Company’s estimation of allowance for credit losses considers factors such as historical credit loss experience, age of receivable balances, current market conditions, reasonable and supportable forecasts of future economic conditions, as well as an assessment of receivables due from specific identifiable counterparties to determine whether these receivables are considered at risk or uncollectible. The Company evaluates its accounts receivable for expected credit losses on a regular basis. The Company maintains an estimated allowance for credit losses to reduce its accounts receivable to the amount that it believes will be collected. The Company considers factors in assessing the collectability of its receivables, such as the age of the amounts due, the customer’s payment history, credit-worthiness and other specific circumstances related to the accounts. The Company adjusts the allowance percentage periodically when there are significant differences between estimated bad debts and actual bad debts. If there is strong evidence indicating that the accounts receivable is likely to be unrecoverable, the Company also makes specific allowance in the period in which a loss is determined to be probable. Accounts receivable balances are written off after all collection efforts have been exhausted. The allowance for credit losses was approximately $3.3 million and $3.1 million as of December 31, 2023 and 2022, respectively. Prepayments and other assets, net Prepayment and other assets primarily consist of VAT recoverable, advances to vendors for purchasing goods, long-lived assets or services that have not been received or provided, advances to employees, security deposits made to customers and advances to employees. Prepayment and other assets are classified as either current or non-current based on the terms of the respective agreements. These advances are unsecured and are reviewed periodically to determine whether their carrying value has become impaired. The Company considers the assets to be impaired if the collectability and recoverability of the advance becomes doubtful. The Company uses the aging method to estimate the allowance for uncollectible balances. The allowance is also based on management’s best estimate of specific losses on individual exposures, as well as a provision on historical trends of collections and utilizations. Actual amounts received or utilized may differ from management’s estimate of credit worthiness and the economic environment. The allowance for credit losses for prepayments and other assets were approximately $0.4 million and $0.5 million as of December 31, 2023 and 2022, respectively. Property and equipment, net Property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method over the following estimated useful lives, taking into account any estimated residual value. Useful Life Building 10-40 years Office equipment 5-10 years Machinery and tools 5 years Vehicles 5-7 years Leasehold improvements Lesser of the lease term or the estimated useful lives of the assets The Company constructs certain of its property and equipment. In addition to costs under the construction contracts, external costs that are directly related to the construction and acquisition of such property and equipment are capitalized. Depreciation and amortization is recorded at the time assets are ready for their intended use. Such properties are classified to the appropriate categories of property and equipment when completed and ready for intended use. Depreciation and amortization of these assets, on the same basis as other property assets, commences when the assets are ready for their intended use. The cost and related accumulated depreciation and amortization of assets sold or otherwise retired are eliminated from the accounts and any gain or loss is included in the consolidated statements of income and comprehensive income (loss). Expenditures for maintenance and repairs are charged to earnings as incurred, while additions, renewals and betterments, which are expected to extend the useful life of assets, are capitalized. The Company also re-evaluates the periods of depreciation and amortization to determine whether subsequent events and circumstances warrant revised estimates of useful lives. Intangible assets, net Intangible assets consist primarily of land use rights and licensed software acquired, which are stated at cost less accumulated amortization and impairment, if any. Intangible assets are amortized using the straight-line method over the estimated useful lives, which are generally 5 to 50 years or based on the contract terms. The estimated useful lives of amortized intangible assets are reassessed if circumstances occur that indicate the original estimated useful lives have changed. The estimated useful lives are as follows: Useful life Land use right 32 - 50 years Licensed software 5 years Impairment of long-lived assets The Company evaluates its long-lived assets, including property and equipment and intangibles with finite lives, for impairment whenever events or changes in circumstances, such as a significant adverse change to market conditions that will impact the future use of the assets, indicate that the carrying amount of an asset may not be fully recoverable. When these events occur, the Company evaluates the recoverability of long-lived assets by comparing the carrying amount of the assets to the future undiscounted cash flows expected to result from the use of the assets and their eventual disposition. If the sum of the expected undiscounted cash flows is less than the carrying amount of the assets, the Company recognizes an impairment loss based on the excess of the carrying amount of the assets over their fair value. Fair value is generally determined by discounting the cash flows expected to be generated by the assets, when the market prices are not readily available. The adjusted carrying amount of the assets become new cost basis and are depreciated over the assets’ remaining useful lives. Long-lived assets are grouped with other assets and liabilities at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. Given no events or changes in circumstances indicating the carrying amount of long-lived assets may not be recovered through the related future net cash flows, the Company did not recognize any impairment loss on long-lived assets for the years ended December 31, 2023, 2022 and 2021. Long-term investments Long-term investments are primarily consisted of equity investments in privately held entities accounted for using equity investments accounted for using the equity method. On January 1, 2019, the Company adopted ASU 2016-01 Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. According to the guidance, the Company started to record equity investments at fair value, with gains and losses recorded through net earnings. And the Company elected to measure certain equity investments without readily determinable fair value at cost, less impairments, plus or minus observable price changes and assess for impairment quarterly. Equity investments accounted for using the equity method The Company accounts for its equity investment over which it has significant influence but does not own a majority equity interest or otherwise control, using the equity method. The Company adjusts the carrying amount of the investment and recognizes investment income or loss for its share of the earnings or loss of the investee after the date of investment. The Company assesses its equity investment for other-than-temporary impairment by considering factors including, but not limited to, current economic and market conditions, operating performance of the entity, including current earnings trends and undiscounted cash flows, and other entity-specific information. The fair value determination, particularly for investments in a privately held entity, requires judgment to determine appropriate estimates and assumptions. Changes in these estimates and assumptions could affect the calculation of the fair value of the investment and determination of whether any identified impairment is other-than-temporary. Deferred issuance costs Pursuant to ASC 340-10-S99-1, offering costs directly attributable to an offering of equity securities are deferred and would be charged against the gross proceeds of the offering as a reduction of additional paid-in capital. These costs include legal fees related to the registration drafting and counsel, consulting fees related to the registration preparation, SEC filing and print related costs, exchange listing costs, and road show related costs. Notes payable Notes payable represents trade accounts payable due to various suppliers where the Company’s banks have guaranteed the payment. The notes are non-interest bearing and normally paid within three to twelve months. The Company shall keep sufficient cash in designated bank accounts or notes receivable pledged to the bank as security for payment processing. Revenue recognition The Company adopted ASC Topic 606, Revenue from Contracts with Customers, effective as of January 1, 2019. Accordingly, the audited consolidated financial statements for the years ended December 31, 2023, 2022 and 2021 are presented under ASC 606. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Revenue is the transaction price the Company expects to be entitled to in exchange for the promised services in a contract in the ordinary course of the Company’s activities and is recorded net of value-added tax (“VAT”). To achieve that core principle, the Company applies the following steps: Step 1: Identify the contract (s) with a customer Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to the performance obligations in the contract Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation The Company generates revenues from providing transportation services and warehouse storage management services. No practical expedients were used when adoption ASC 606. Revenue recognition policies for each type of revenue stream are as follow: Transportation services The Company derives its transportation service revenue by providing logistic services based on customers’ order. The Transportation service is considered a performance obligation as the customer can only obtain benefits when the goods are delivered to the destination. The transaction price is predetermined according to the distance of the transportation as well as the volume of the goods. Generally, the credit term is within two months. There is no other obligation in our contracts, such as return, refund or warranties. Revenue is recognized at the point in time when delivery of goods is made and customer has accepted delivery. Warehouse storage management services The Company derives revenue from the warehouse storage management service provided to third-party companies, including handling services, security and other services. The promised services in each warehouse storage management service contract are accounted as a single performance obligation, as the promised services in a contract are not distinct and are considered as a significant integrated service. The consideration is predetermined in the contract according to the unit price, space and term as well as the services used with no other obligations such as return, refund or warranties. No variable considerations exist such as discounts, rebates, refunds, credits, price concession, incentive performance bonuses or penalties. Pursuant to the service agreement, the Company provides the clients with warehouse storage management service during the service period. Service fees for which are paid by such customers on a monthly basis. The revenue is recognized on a straight-line basis over the period of the warehouse storage management service term, as customers simultaneously receive and consume the benefits of these services throughout the service period. Principal and Agent Considerations In the Company’s transportation business, the Company utilizes independent contractors and third-party carriers in the performances of some transportation services as and when needed. GAAP requires us to evaluate, using a control model, whether the Company itself promises to provide services to the customers (as a principal) or to arrange for services to be provided by another party (as an agent). Based on the Company’s evaluation using a control model, the Company determined that in all of its major business activities, it serves as a principal rather than an agent within their revenue arrangements. Revenue and the associated purchased transportation costs are both reported on a gross basis within the consolidated statements of income and comprehensive income. Contract costs Contract costs include contract acquisition costs and contract fulfillment costs which are all recorded within prepayments, deposits, and other assets in the consolidated balance sheets. Contract acquisition costs consist of incremental costs incurred by the Company to originate contracts with customers. Contract acquisition costs, which generally include costs that are only incurred as a result of obtaining a contract, are capitalized when the incremental costs are expected to be recovered over the contract period. All other costs incurred regardless of obtaining a contract are expensed as incurred. Contract acquisition costs are amortized over the period the costs are expected to contribute directly or indirectly to future cash flows, which is generally over the contract term, on a basis consistent with the transfer of goods or services to the customer to which the costs relate. Contract fulfillments costs consist of costs incurred by the Company to fulfill a contract with a customer and are capitalized when the costs generate or enhance resources that will be used in satisfying future performance obligations of the contract and the costs are expected to be recovered. Capitalized contract fulfillment costs generally include contracted services, direct labor, materials, and allocable overhead directly related to resources required to fulfill the contract. Contract fulfillment costs are recognized in cost of revenue during the period that the related costs are expected to contribute directly or indirectly to future cash flows, which is generally over the contract term, on a basis consistent with the transfer of goods or services to the customer to which the costs are related. There were no contract acquisition costs and fulfillment costs as of December 31, 2023 and 2022. Contract assets A contract asset is the right to consideration in exchange for goods or services transferred to the customer. If the Company performs by transferring goods or services to a customer before the customer pays consideration or before a payment is due, a contract asset is recognized for the earned consideration that is conditional. Contract assets are subject to impairment assessment. Contract liabilities A contract liability is recognized when a payment is received or a payment is due (whichever is earlier) from a customer before the Company transfers the related services. Contract liabilities are recognized as revenue when the Company performs under the contract. Revenue recognized that was included in contract liabilities at the beginning of the year was approximately $0.8 million, $0.7 million and $2.5 million for the years ended December 31, 2023, 2022 and 2021, respectively. As of December 31, 2023 and 2022, contract liabilities amounted to approximately $1.0 million and $1.1 million, respectively, were included in “accrued expenses and other current liabilities.” Disaggregated information of revenues by services: Years Ended December 31, 2023 2022 2021 Revenues: Transportation $ 383,211 $ 346,039 $ 327,848 Warehouse storage management service 18,160 20,322 16,885 Others 2,750 3,964 1,966 Total revenues $ 404,121 $ 370,325 $ 346,699 As of December 31, 2023 and 2022, the Company had outstanding contracts for providing transportation and warehouse management services amounting to approximately $0.9 million and $1.0 million, all of which is expected to be completed within 12 months from December 31, 2023 and 2022, respectively. The Company’s operations are primarily based in the PRC, where the Company derived a substantial portion of revenues. Disaggregated information of revenues by geographic locations are as follows: Years Ended December 31 2023 2022 2021 Fujian $ 267,393 $ 218,523 $ 197,647 Beijing 29,110 36,958 36,365 Zhejiang 15,448 15,782 11,466 Guangdong 14,130 17,848 22,447 Hubei 12,403 9,283 5,471 Others 65,637 71,931 73,303 Total $ 404,121 $ 370,325 $ 346,699 Government Subsidies The Company’s PRC based subsidiaries received government subsidies from certain local governments. The Company’s government subsidies consisted of specific subsidies and other subsidies. Specific subsidies are subsidies that the local government has provided for a specific purpose, such as truck station subsidies. Other subsidies are the subsidies that the local government has not specified its purpose for and are not tied to future trends or performance of the Company; receipt of such subsidy income is not contingent upon any further actions or performance of the Company and the amounts do not have to be refunded under any circumstances. The Company recorded specific subsidies as accrued expenses and other current liabilities when received. For specific subsidies, they are recognized as other income on a straight-line method within the useful life of relevant assets. Other subsidies are recognized as other income which is included in the consolidated statements of income upon receipt as further performance by the Company is not required. The government subsidies were approximately $0.2 million, $0.8 million and $0.6 million for the years ended December 31, 2023, 2022 and 2021, respectively. Advertising expenses Advertising expenditures are expensed as incurred and such expenses were included as part of selling and marketing expenses. For the years ended December 31, 2023, 2022 and 2021, the advertising expenses amounted to approximately $0.1 million, $0.05 million and $0.08 million, respectively. Employee defined contribution plan Full-time employees of the Company in the PRC participate in a government-mandated multi-employer defined contribution plan pursuant to which certain pension benefits, medical care, unemployment insurance, employee housing fund and other welfare benefits are provided to them. Chinese labor regulations require that the Company make contributions to the government for these benefits based on government prescribed percentage of the employee’s salaries. The Company has no legal obligation for the benefits beyond the contributions. The total amount was expensed as incurred. For the years ended December 31, 2023, 2022 and 2021, employee welfare contribution expenses amounted to approximately $2.5 million, $1.3 million and $2.4 million, respectively. Leases The Company has elected the package of practical expedients permitted which allows the Company not to reassess the following at adoption date: (i) whether any expired or existing contracts are or contains a lease, (ii) the lease classification for any expired or existing leases, and (iii) initial direct costs for any expired or existing leases (i.e. whether those costs qualify for capitalization under ASU 2016-02). The Company also elected the short-term lease exemption for certain classes of underlying assets including office space, warehouses and equipment, with a lease term of 12 months or less. The Company determines whether an arrangement is or contain a lease at inception. A lease for which substantially all the benefits and risks incidental to ownership remain with the lessor is classified by the lessee as an operating lease. All leases of the Company are currently classified as operating leases. Operating leases are included in operating lease right-of-use (“ROU”) assets, operating lease liability, current, and operating lease liability, non-current in the Company’s consolidated balance sheets. Please refer to Note 13 for the disclosures regarding the Company’s method of adoption of ASC 842 and the impacts of adoption on its financial position, results of operations and cash flows. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent its obligation to make lease payments arising from the lease. The operating lease ROU assets and lease liabilities are recognized at lease commencement date based on the present value of lease payments over the lease term. As most of the Company’s leases do not provide an implicit rate, the Company uses i

Accounts Receivable, Net

Accounts Receivable, Net	12 Months Ended
	Dec. 31, 2023
Accounts Receivable, Net [Abstract]
Accounts Receivable, Net	3. Accounts receivable, net Accounts receivable, net consisted of the following: As of As of Accounts receivable $ 100,967 $ 92,225 Less: Allowance for credit losses for accounts receivable (3,269 ) (3,115 ) Total $ 97,698 $ 89,110 Movement of allowance of credit losses for accounts receivable Year Ended Year Ended Year Ended Beginning balance $ 3,115 $ 2,398 $ 2,537 Provision for credit losses 608 1,130 428 Written-off (401 ) (178 ) (624 ) Exchange rate effect (53 ) (235 ) 57 Ending balance $ 3,269 $ 3,115 $ 2,398

Prepayments and Other Assets, N

Prepayments and Other Assets, Net	12 Months Ended
	Dec. 31, 2023
Prepayments and Other Assets, Net [Abstract]
Prepayments and other assets, net	4. Prepayments and other assets, net The prepayments and other assets, net consisted of the following: As of As of Deposits (a) $ 13,134 $ 9,149 Prepayments for goods and services 2,973 4,004 VAT recoverable (b) 1,955 3,843 Prepayments for property and equipment (c) 7,539 9,659 Prepayments for intangible assets (d) 17,661 6,130 Advances to employees 58 63 Others 475 538 Prepayments and other assets 43,795 33,386 Less: Allowance for credit losses for prepayments and other assets (405 ) (454 ) Prepayments and other assets, net 43,390 32,932 Less: Prepayments and other current assets, net (14,537 ) (18,292 ) Other non-current assets $ 28,853 $ 14,640 (a) Deposits represent the refundable deposits to the lessors for the leased warehouses and office space. (b) VAT recoverable represents the balances that the Company can utilize to deduct its value-added tax liabilities within the next 12 months. (c) Prepayments for property and equipment represent mainly prepayments for constructions of logistic stations. (d) (i) In January 2022, the Company signed an agreement with Ningde City government to purchase a land use right located at Jinwan Road, Jiaocheng District, Ningde, Fujian Province amounted to approximately $6.1 million (RMB42,690,000) and the prepayment was made to the local government accordingly. The Company obtained certificate of land-use right and the transaction was completed in June 2023. The prepaid balance was transferred from other non-current assets to intangible assets. The term of the land use right is 50 years from 2023 to 2073. (ii) On September 30, 2023, SF Smart and Fujian Yingfu Integrated Circuit Co., Ltd. (“Yingfu”) entered into an agreement, pursuant to which, SF Smart agreed to pay Yingfu approximately $8.4 million (RMB59.7 million) as additional consideration for purchasing the land use right (located at Tongnan Village, Nanyu Town, Minhou County, Fuzhou, Fujian Province, or the “Target land”) (for more details please refer to Note 8). From October 2023 to November 2023, SF Smart fully paid the consideration of approximately $8.4 million (RMB59.7 million) to Yingfu. Movement of allowance for credit losses for prepayments and other assets Year Ended Year Ended Year Ended Beginning balance $ 454 $ 439 $ 591 (Recovery) provisions for credit losses for prepayments and other assets (42 ) 54 - Written-off - - (164 ) Exchange rate effect (7 ) (39 ) 12 Ending balance $ 405 $ 454 $ 439

Property and Equipment, Net

Property and Equipment, Net	12 Months Ended
	Dec. 31, 2023
Property and Equipment, Net [Abstract]
Property and equipment, net	5. Property and equipment, net Property and equipment, net consisted of the following: As of As of Buildings $ 26,249 $ 24,150 Office equipment 3,181 3,230 Machinery and tools 1,736 1,879 Vehicles 35,338 37,841 Leasehold improvements 5,632 4,964 Constructions in progress 3,255 2,215 Subtotal 75,391 74,279 Less: accumulated depreciation and amortization (34,322 ) (34,014 ) Property and equipment, net $ 41,069 $ 40,265 As of December 31, 2023 and 2022, property and equipment with net book value amounted to approximately $17.6 million and $18.1 million, respectively, were pledged for obtaining various loans (See Note 10 Notes payables and Note 11 Short-term bank loans). Depreciation and amortization expenses for the years ended December 31, 2023, 2022 and 2021, amounted to approximately $6.4 million, $7.0 million and $5.9 million, respectively. For the years ended December 31, 2023, 2022 and 2021, depreciation and amortization included in the cost of revenue were approximately $5.8 million, $6.1 million and $4.9 million, respectively. For the years ended December 31, 2023, 2022 and 2021, depreciation and amortization included in selling, general and administrative expenses were approximately $0.7 million, $0.9 million and $1.0 million, respectively.

Intangible Assets, Net

Intangible Assets, Net	12 Months Ended
	Dec. 31, 2023
Intangible Assets, Net [Abstract]
Intangible assets, net	6. Intangible assets, net The Company’s intangible assets with definite useful lives primarily consisted of land use rights and licensed software. The following table summarizes the components of acquired intangible asset balances. As of As of Land use rights(a) $ 14,086 $ 8,011 Licensed software 2,038 2,133 Subtotal 16,124 10,144 Less: accumulated amortization (3,964 ) (3,433 ) Intangible assets, net $ 12,160 $ 6,711 (a) Details see Note 4 (d)(i). As of December 31, 2023 and 2022, land use rights with net book value amounted to approximately $8.6 million and $2.6 million, respectively, were pledged for obtaining various of loans (See Note 10 Notes payables and Note 11 Short-term bank loans). Amortization expenses for the years ended December 31, 2023, 2022 and 2021, amounted to approximately $0.6 million, $0.5 million and $0.5 million, respectively. The future amortization for the intangible assets is expected to be as follows: Twelve months ending December 31, Estimated 2024 $ 613 2025 458 2026 424 2027 397 2028 343 Thereafter 9,925 Total $ 12,160

Long-Term Investments

Long-Term Investments	12 Months Ended
	Dec. 31, 2023
Long-Term Investments [Abstract]
Long-term investments	7. Long-term investments The Company’s long-term investments consisted of the following: As of As of Equity investments accounted for using the equity method $ 1,913 $ 2,040 For the years ended December 31, 2023, 2022 and 2021, the Company has the following equity investments which were accounted for using the equity method: Movement of equity method investment Year Ended Year Ended Year Ended 2021 Beginning balance $ 2,040 $ 2,142 $ 2,024 Share of income in equity method investee 19 82 70 Dividend received (114 ) - - Exchange rate effect (32 ) (184 ) 48 Ending balance $ 1,913 $ 2,040 $ 2,142 In 2007, the Company acquired 40% of the equity interests of Fujian Bafang Shengfeng Logistics Co., Ltd (“Fujian Bafang”) with a cash consideration of approximately $1.7 million (RMB12 million). As the Company is able to exercise significant influence over Fujian Bafang after such acquisition, the Company therefore accounted for this investment under the equity method of accounting. No impairment loss was recognized for the long-term investments for the years ended December 31, 2023, 2022 and 2021.

Deposit for Investment

Deposit for Investment	12 Months Ended
	Dec. 31, 2023
Deposit for Investment [Abstract]
Deposit for investment	8. Deposit for investment On August 16, 2019, the Company, with an intention to acquire a Target land (see Note 4) signed a Share Purchase Agreement (“2019 SPA”) with Huasheng Group Limited (the “Huasheng”), an unrelated third party to the Company. Pursuant to the SPA, Huasheng agreed to sell and the Company agreed to buy 100% of the equity interests of Fujian Yingfu Integrated Circuit Co., Ltd. (“Yingfu” or the “Target Company”), which is a wholly owned subsidiary of Huasheng and owns the Target land. The total consideration is approximately $28.7 million (RMB200 million). The Company paid approximately $14.3 million (RMB100 million) to Huasheng in 2019 and $8.6 million (RMB60 million) in the March to May, 2020 as the deposit for the investment according to the SPA. Huasheng is requested to pay 8% of the deposit received as interest to the Company if the transaction is not consummated by June 30, 2020. The 2019 SPA was terminated later based on mutual agreement of all parties and a new share purchase agreement (“2020 SPA”) has been entered into on December 18, 2020. Pursuant to the 2020 SPA, the Company will buy a newly established subsidiary of Yingfu with the Target land for the same consideration. The deposit for the 2020 SPA is approximately $14.3 million (RMB100 million). As a result, approximately $8.6 million (RMB60 million) from the initial payment made has been returned to the Company in December 2020. Additionally, pursuant to the 2020 SPA, any party who unilaterally terminates the agreement shall pay the other party a breakage fee in the amount of approximately $3.1 million (RMB20 million) and Huasheng agreed to make interest payment of approximately $1.2 million (approximately RMB8.36 million) to the Company before December 31, 2020 based on the term stated in SPA 2019 and is requested to pay 8% of the deposit received as interest to the Company if the transaction is not consummated by December 15, 2021. The interest payment was received in full by the Company on December 29, 2020. Due to the delay of the government’s approval on this transaction involved with the Target land, the 2020 SPA agreement expired in December 2021. A new agreement (“2021 SPA”) has been entered into to replace the 2020 SPA on December 31, 2021. There were no other changes for the consideration nor the deposit. Moreover, Huasheng agreed to make an interest payment of RMB8 million (approximately $1.2 million) before January 30, 2022 based on the term stated in SPA 2020 and is requested to pay 8% of the deposit received payable to the Company if the transaction is not consummated by December 15, 2022. The Company received the interest of approximately $1.2 million (RMB 8.0 million) on January 19, 2022. On December 23, 2022, a new agreement (“2022 SPA”) has been entered into to replace the 2021 SPA, which expired on the same date. There are no other changes for the consideration nor the deposit, expect that Yingfu agreed to make an interest payment of RMB8 million (approximately $1.2 million) before March 15, 2023 based on the term stated in SPA 2021 and is requested to pay 6% of the deposit received as interest to the Company if the transaction is not consummated by December 15, 2023. The Company received the interest of approximately $1.2 million (RMB8.0 million) on February 15, 2023. Interest income has been recorded by the Company for the years ended December 31, 2022 and 2021. On September 30, 2023, the Company, Yingfu and Huasheng reached a termination agreement. Pursuant to the termination agreement, all parties agreed to terminate the 2022 SPA, and Yingfu shall refund the deposit of RMB100 million (approximately $14.1 million) to the Company. Furthermore, the Target land previously held by Yingfu was arranged for in a bidding process by the local government authority, Fuzhou High-tech Development Zone Municipal Bureau of Natural Resources. On December 22, 2023, the Company made a deposit of approximately $9.2 million (RMB65.1 million) to the local government authority for a bidding on the Target land. On January 9, 2024, the Company signed a Land Use Right Transfer Agreement for successfully bidding on the Target land with a total consideration of approximately $18.3 million (RMB129.5 million). On January 12, 2024, the Company made the remaining payment of approximately$9.1 million (RMB64.4 million) to the local government authority. The issuance of the updated certificate of land use right is in progress. In October and November 2023, Yingfu refunded RMB40 million (approximately $5.6 million) to the Company. Subsequently on February 7, 2024, Yingfu further refunded RMB48.5 million (approximately $6.8 million) to the Company.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
Related party transactions	9. Related party transactions The table below sets forth the major related parties and their relationships with the Company as of December 31, 2023 and 2022, and for the years ended December 31, 2023, 2022 and 2021: Name of related parties Relationship with the Company Fujian Bafang Shengfeng Logistics Co., Ltd (“Fujian Bafang”) An equity investee of the Company Fuzhou Tianyu Shengfeng Industrial Co., Ltd (“Fuzhou Tianyu”) A company controlled by Yongxu Liu, CEO and Chairman of the Company Fuzhou Tianyu Shengfeng Property Management Co., Ltd (“Fuzhou Tianyu Management”) A company under the control of a shareholder Fuzhou Tianyu Yuanmei Catering Co., Ltd (“Fuzhou Tianyu Catering”) A company under the control of a shareholder Beijing Union Logistics Co., Ltd (“Beijing Banglian”) (1) A company under the control of a shareholder Fujian Desheng Logistics Co., Ltd (“Fujian Desheng”) A company under the control of a shareholder Dongguan Suxing New Material Co., Ltd (“Suxing”) (2) A company under the control of a non-controlling shareholder Hainan Tianyi Logistics Distribution Co., Ltd (“Hainan Tianyi”) (3) An equity investee of the Company Yongteng Liu CEO’s brother Fuzhou Puhui Technology Co., Ltd Non-controlling shareholder of Ningde Shengfeng Logistics Co. Ltd. (1) In January 2022, the Company’s shareholder sold the equity interest in Beijing Banglian. (2) On July 14, 2021, Shengfeng Logistics entered into a share transfer agreement with Dongguan Suxing New Material Co., Ltd (“Dongguan Suxing”), a related party, to transfer its 51% equity interest in Fuzhou Shengfeng New Material Technology Co., Ltd. (“New Material Technology”) to Dongguan Suxing (Note 1). After the transaction, Suxing became a non-related party to the Company. (3) On September 15, 2021, the Company signed a share purchase agreement with a third party. According to such agreement, the Company sold its 5% equity interests in Hainan Tianyi to such third party. After the transaction, Hainan Tianyi became a non-related party to the Company. i) Significant transactions with related parties were as follows: Year ended Year ended Year ended Transportation services to Fujian Bafang $ - $ 18 $ - Transportation services to Fujian Desheng 37 - 349 Total $ 37 $ 18 $ 349 Year ended Year ended Year ended Transportation services from Beijing Banglian $ - $ - $ 2,265 Transportation services from Hainan Tianyi $ - $ - $ 1,207 Transportation services from Fujian Bafang $ 1,108 $ 1,196 $ 157 Purchase raw materials from Suxing $ - $ - $ 577 Lease services from Fuzhou Tianyu $ 228 $ 305 $ 358 Lease services from Fuzhou Tianyu Management $ 17 $ 35 $ - Catering services from Tianyu Catering $ 2 $ - $ - ii) Guarantees The Company’s shareholder, CEO and Chairman, Yongxu Liu, his brother, Yongteng Liu and Fuzhou Puhui Technology Co., Ltd, were the guarantors of the Company’s short-term bank loans (See Note 11). iii) Significant balances with related parties were as follows: As of As of Due from related parties Fuzhou Tianyu $ 41 $ 42 Fujian Desheng 40 - Total $ 81 $ 42 As of As of Due to related parties Fujian Bafang (a) $ 1,622 $ 1,694 Fuzhou Tianyu 48 84 Fuzhou Tianyu Management 34 36 Yongteng Liu - 600 Total $ 1,704 $ 2,414 (a) On December 10, 2007, the Company entered into an interest-free loan agreement with Fujian Bafang for a principal amount of approximately $1.4 million (RMB 9.6 million). Such loan is due on demand.

Notes Payables

Notes Payables	12 Months Ended
	Dec. 31, 2023
Notes Payables [Abstract]
Notes payables	10. Notes payables As of As of Bank acceptance notes payable issued by Shanghai Pudong Development Bank Co., Ltd. Fuzhou Branch $ - $ 2,046 Commercial acceptance notes payable guaranteed by China Minsheng Bank Fuzhou Branch 8,471 - Total $ 8,471 $ 2,046 (a) On July 27, 2022 and August 4, 2022, Shanghai Pudong Development Bank Co., Ltd. issued bank acceptance notes payable aggregate of approximately $2.0 million (RMB14.3 million) to the Company with maturity for half year. The Company was required to maintain restricted cash deposits of approximately $0.6 million (RMB4.3 million) in such bank, in order to ensure future credit availability. These notes were fully paid upon maturity and the restricted deposit was also released upon the note repayments. (b) In February 2023, the Company issued commercial acceptance notes payable of approximately $8.5 million (RMB60.0 million) and guaranteed by China Minsheng Bank Fuzhou Branch with a due date on February 6, 2024. The commercial acceptance notes were collateralized by the real estate property valued at approximately $8.0 million and the land use rights for the property located at Dapu village, Honglu street, Fuqing City, Fuzhou City, Fujian Province, PRC, valued at approximately $1.0 million, owned by the Company and were further guaranteed by Yongxu Liu, a shareholder, the CEO and Chairman of the Company, and his brother, Yongteng Liu. These notes were fully paid on January 30, 2024. After repayment these notes, the Company reissued commercial acceptance notes payable of approximately $8.5 million (RMB60.0 million) on January 30, 2024, and these commercial acceptance notes payable were fully paid on March 1, 2024.

Short-Term Bank Loans

Short-Term Bank Loans	12 Months Ended
	Dec. 31, 2023
Short-Term Bank Loans [Abstract]
Short-term bank loans	11. Short-term bank loans The following table presents short-term bank loans from commercial banks as of December 31, 2023 and 2022: As of As of China Minsheng Bank Fuzhou Branch $ - $ 10,769 Bank of China Fuzhou Jin’an Branch 11,295 11,487 China Merchant Bank Fuzhou Branch 10,589 10,769 Xiamen International Bank Co., Ltd. Fuzhou Branch 7,059 7,179 Haixia Bank of Fujian Fuzhou Jin’an Branch 1,412 1,436 Fujian Fuzhou Rural Commercial Bank Co., Ltd. Yuefeng Branch - 1,436 Shanghai Pudong Development Bank Co., Ltd. Fuzhou Branch 2,118 1,436 Industrial Bank Fuzhou Huqian Sub Branch 847 861 Industrial Bank Fuzhou Branch 1,398 1,421 China Everbright Bank Co., Ltd Fuzhou Tongpan Branch - 861 Haixia Bank of Fujian Fuzhou Minjiang Branch 1,412 - Total $ 36,130 $ 47,655 As of December 31, 2023 and 2022, the total short-term bank borrowings balance of the Company was approximately $36.1 million and $47.7 million, respectively. The short-term bank loans outstanding as of December 31, 2023 and 2022 carried a weighted average interest rate of approximately 3.94% and 4.48% per annum, respectively. China Minsheng Bank Fuzhou Branch On September 10, 2021 and September 22, 2021, respectively, the Company entered into short-term loan facility agreements with China Minsheng Bank Fuzhou Branch, pursuant to which a facility of up to approximately $5.8 million (RMB37.0 million) and a facility of up to approximately $5.96 million (RMB38.0 million) were made available to the Company, at a fixed interest rate of 4.35% per annum. These short-term loans were collateralized by the real estate property valued at approximately $8.4 million and the land use rights for the property located at Dapu village, Honglu street, Fuqing City, Fuzhou City, Fujian Province, PRC, valued at approximately $1.0 million, owned by the Company and were further guaranteed by Yongxu Liu, a shareholder, the CEO and Chairman of the Company, and his brother, Yongteng Liu. The $5.8 million (RMB37.0 million) loan matured on September 10, 2022 and the $5.96 million (RMB38.0 million) loan matured on September 22, 2022. The Company made early repayment for the loans of approximately $5.8 million (RMB37.0 million) on July 7, 2022, $2.82 million (RMB18.0 million) on July 14, 2022 and $3.14 million (RMB20.0 million) on July 18, 2022. After the repayment, the Company obtained additional loans of approximately $5.3 million (RMB37.0 million) on July 7, 2022, $2.6 million (RMB18.0 million) on July 14, 2022 and $2.9 million (RMB20.0 million) on July 18, 2022 at a fixed interest rate of 4% per annum. The aforementioned loans were repaid on maturity on February 7, February 14 and February 18, 2023. After repayment of the loans of $10.8 million (RMB75 million), the Company obtained the note payable amounted $8.5 million (RMB60.0 million) issued by the same bank on February 17, 2023 (See Note 10). Bank of China Fuzhou Jin’an Branch On June 28, 2021, the Company entered into a short-term loan facility agreement with Bank of China Fuzhou Jin’an Branch pursuant to which a total facility of up to approximately $12.3 million (RMB80.0 million) was made available to the Company at a fixed interest rate of 4.35% per annum. Loans from this facility are collateralized by the real estate property and the land use rights, amounted to approximately $9.8 million in total, for the property located at No. 50, Sun Road, Wangting Town, Xiangcheng District, Suzhou, Jiangsu Province owned by the Company and guaranteed by Yongxu Liu, a shareholder, the CEO and Chairman of the Company. Pursuant to the loan facility agreement, the Company shall meet two financial covenants that: (i) its current ratio shall be no less than 1; and (ii) the financing exposure balance shall be no more than approximately $61.3 million (RMB 400,000,000) or 25% of the annual revenue. If the Company fails to meet either of the financial covenants, the total loan facility available will be reduced to approximately $7.7 million (RMB50 million). On July 14, July 21 and August 10, 2021, the Company drew down approximately $2.6 million (RMB17.0 million), $3.1 million (RMB20.0 million) and $4.6 million (RMB30.0 million) loans from this facility, respectively. On March 21, 2022, the Company obtained approximately $1.9 million (RMB13.0 million) under this credit line. The Company made early repayment for the loans of approximately $2.6 million (RMB17.0 million) on May 18, 2022, $3.0 million (RMB20.0 million) on June 15, 2022 and $4.6 million (RMB30.0 million) on June 7, 2022. After the repayment, the Company obtained additional loans of approximately $2.4 million (RMB 17.0 million) on May 26, 2022, $4.3 million (RMB30.0 million) on June 13, 2022, and $2.9 million (RMB20.0 million) on June 23, 2022, under the same loan facility agreement entered in June 2021. The aforementioned loan’s maturity dates are March 20, 2023, May 25, 2023, June 12, 2023 and June 22, 2023, respectively. On October 21, 2022, the Company signed supplementary contracts with Bank of China Fuzhou Jin’an Branch to change the interest rate of the loan obtained in May and June 2022, from 4% per annum to 2.5% per annum and benefited from the special refinancing policy for the transportation and logistics industry created by the People’s Bank of China and the Ministry of Transport, and the new interest rate was effective from the date of the contracts. The change in interest rate was accounted as debt modification. On March 21, 2023, April 24, 2023, May 4, 2023, May 9, 2023, June 9, 2023, June 13, 2023 and June 19, 2023, the Company repaid approximately $1.9 million (RMB13.0 million) and $0.1 million (RMB1.0 million), $2.3 million (RMB16.0 million), $0.1 million (RMB1.0 million), $2.8 million (RMB19.0 million), $1.6 million (RMB11.0 million) and $2.8 million (RMB19.0 million) to the bank, respectively. On March 15, 2023, the Company entered into a short-term loan facility agreement with Bank of China Fuzhou Jin’an Branch pursuant to which a total facility of up to approximately $11.3 million (RMB80.0 million) was made available to the Company. The loan facility term is from March 15, 2023 to September 1, 2023 available for the Company to withdraw. Loans from this facility are collateralized by the real estate property and the land use rights, amounted to approximately $8.1 million in total, for the property located at No. 50, Sun Road, Wangting Town, Xiangcheng District, Suzhou, Jiangsu Province owned by the Company and guaranteed by Yongxu Liu, a shareholder, the CEO and Chairman of the Company. Pursuant to the loan facility agreement, the Company shall meet two financial covenants that: (i) its current ratio shall be no less than 0.85; and (ii) the financing exposure balance shall be no more than approximately $56.5 million (RMB400,000,000) or 25% of the annual revenue. The unpaid loan balance under the prior loan agreements were transferred to this new loan facility agreement according to the terms stated in the new agreement. On April 7, 2023, May 5, 2023, June 9, 2023 and June 20, 2023, the Company drew down approximately $1.8 million (RMB13.0 million), $2.4 million (RMB17.0 million), $2.8 million (RMB20.0 million) and $4.2 million (RMB30.0 million) under this line at a fixed interest rate of 2.5% per annum. As of December 31, 2023, loan balance under such short-term loan facility was approximately $11.3 million (RMB80.0 million), fully withdrawn by the Company. China Merchant Bank Fuzhou Branch On December 24, 2021, the Company entered into a short-term loan facility agreement with China Merchant Bank Fuzhou Branch to replace a prior agreement with aggregate principal amount of approximately $9.2 million (RMB60.0 million). Pursuant to such new agreement, a total facility of up to an aggregate principal amount of approximately $11.6 million (RMB75.0 million) was made available to the Company. The loan facility is available for the Company to withdraw from December 24, 2021 to December 23, 2022. The short-term loans that may be drawn under this loan facility are collateralized by the real estate property valued at approximately $1.8 million, and the land use rights for the property located at No. 50, Sun Road, Wangting Town, Xiangcheng District, Suzhou, Jiangsu Province, valued at approximately $0.9 million, owned by the Company, and are guaranteed by Yongxu Liu, a shareholder, the CEO and Chairman of the Company, and one of the VIE’s subsidiaries. The unpaid loan balance under the prior loan agreement was transferred to this new loan facility agreement according to the terms stated in the new agreement. The unpaid balance of original loan was approximately $9.3 million (RMB60.0 million) at the time of entering new agreement, which consisted of approximately $4.6 million (RMB30.0 million) received on August 3, 2021, $3.1 (RMB20.0 million) received on August 26, 2021 and $1.6 million (RMB10.0 million) received on September 7, 2021. On January 14 and 21, 2022, approximately $2.3 million (RMB15.0 million) and $2.3 million (RMB15.0 million) were repaid by the Company, which loans were originally obtained in August 3, 2021. On January 14 and 21, 2022, the Company drew down approximately $2.4 million (RMB17.0 million) and $2.2 million (RMB15.0 million) of loans under this loan facility with an interest rate of 4.50% per annum. On December 15, 2022 and December 16, 2022, the Company repaid approximately $2.4 million (RMB17.0 million) and $2.2 million (RMB15.0 million) to the bank, respectively. After the repayments were made, the Company drew down approximately $2.3 million (RMB16.0 million) and $3.0 million (RMB21.0 million) of loans under this loan facility with an interest rate of 4.30% per annum. On June 15, 2023, the Company repaid approximately $5.3 million (RMB37.0 million) to the bank. On January 28, February 28 and March 17, 2022, approximately $2.3 million (RMB15.0 million), $0.8 million (RMB5.0 million) and $1.5 million (RMB10.0 million) were repaid by the Company, respectively, which were the loans originally obtained in August 26 and September 7, 2021. On February 22, March 8 and April 12, 2022, the Company drew down approximately $1.4 million (RMB10.0 million), $0.7 million (RMB5.0 million) and $1.4 million (RMB10.0 million) of loans, respectively, under this loan facility with an interest rate of 4.50% per annum. On December 19, 2022, the Company repaid approximately $1.4 million (RMB10.0 million), $0.7 million (RMB5.0 million) and $1.4 million (RMB10.0 million) to the bank. After the repayments were made, the Company drew down approximately $3.6 million (RMB25.0 million) on December 19, 2022 under this loan facility with an interest rate of 4.30% per annum before January 11, 2023, after January 11, 2023, the interest rate was reduced to 4.05% per annum according to the agreement. On December 22, 2022, the Company drew down approximately $1.4 million (RMB10.0 million) of loans under this new loan facility. On June 19, 2023 and June 21, 2023, the Company repaid $3.6 million (RMB25.0 million) and $1.4 million (RMB10.0 million), respectively. On January 14, 2022, Fujian Shengfeng Logistics Co., Ltd. drew down approximately $1.5 million (RMB10.0 million) of loan with an interest rate of 4.50% per annum. On December 21, 2022, the Company repaid approximately $1.5 million (RMB10.0 million) to the bank. On January 14, 2022, Fuqing Shengfeng Logistics Co., Ltd. drew down approximately $0.5 million (RMB3.0 million) of loans under this loan facility with an interest rate of 4.50% per annum. On December 21, 2022, the Company repaid approximately $0.5 million (RMB3.0 million) to the bank. After the repayments were made. On December 21, 2022, Fuqing Shengfeng Logistics Co., Ltd. drew down approximately $0.4 million (RMB3.0 million) of loans under this loan facility with an interest rate of 4.30% per annum. On June 19, 2023, Fuqing Shengfeng Logistics Co., Ltd. repaid $0.4 million (RMB3.0 million). On June 5, 2023, the Company entered into a new short-term loan facility agreement with China Merchant Bank Fuzhou Branch to replace the short-term loan facility agreement signed with China Merchant Bank Fuzhou Branch during fiscal year 2021. Pursuant to such new short-term loan facility agreement, a total facility of up to an aggregate principal amount of approximately $10.6 million (RMB75.0 million) was made available to the Company. The loan facility available for the Company to withdraw from June 5, 2023 to June 4, 2025. The short-term loans that may be drawn under this loan facility are collateralized by the real estate property valued at approximately $1.7 million (RMB12.1 million), and the land use rights for the property located at No. 50, Sun Road, Wangting Town, Xiangcheng District, Suzhou, Jiangsu Province, valued at approximately $0.8 million (RMB5.9 million), owned by the Company, and are guaranteed by Yongxu Liu, a shareholder, the CEO and Chairman of the Company, and one of the VIE’s subsidiaries. The unpaid loan balance under the prior loan agreement was transferred to this new loan facility agreement according to the terms stated in the new agreement. On June 15, 2023 and June 19, 2023, the Company drew down approximately $5.2 million (RMB37.0 million) and $2.1 million (RMB15.0 million) of loans under this new loan facility with an interest rate of 4.00% per annum, respectively. On June 19, 2023, the Company drew down approximately $1.8 million (RMB13.0 million) of loans under this loan facility with an interest rate of 3.70% per annum respectively. On September 12, 2023, the Company drew down approximately $1.4 million (RMB10.0 million) of the loan with an interest rate of 3.70% per annum. As of December 31, 2023, loan balance under such short-term loan facility was approximately $10.6 million (RMB75.0 million). Xiamen International Bank Co., Ltd. Fuzhou Branch On August 11, 2021, the Company entered into a short-term loan facility agreement with Xiamen International Bank Co., Ltd. Fuzhou Branch pursuant to which a total facility of up to approximately $4.3 million (RMB30.0 million) was made available to the Company as a revolving loan facility for a three-year period (From August 13, 2021 to August 13, 2024). On August 19, 2021, the Company drew down approximately $4.3 million (RMB30.0 million) of the loan at a fixed interest rate of 5.6% per annum. This short-term loan was guaranteed by Yongxu Liu, a shareholder, the CEO and Chairman of the Company., the loan was fully repaid on August 9, 2022. On August 12, 2022, the Company drew down approximately $4.3 million (RMB30.0 million) of the loan at a fixed interest rate of 5.6% per annum, On August 12, 2023, the Company fully repaid this loan. On October 27, 2023 and December 26, 2023, the Company drew down approximately $2.8 million (RMB20.0 million) and $1.4 million (RMB10.0 million) of the loan at a fixed interest rate of 3.9% per annum. As of December 31, 2023, the loan balance under such short-term loan facility was approximately $4.2 million (RMB30.0 million). On April 8, 2022, the Company entered into a short-term loan facility agreement with Xiamen International Bank Co., Ltd. Fuzhou Branch, pursuant to which a total facility of up to approximately $3.1 million (RMB20.0 million) was made available to the Company as a revolving loan facility for a two-year period from April 8, 2022 to April 8, 2024. On April 15, 2022, the Company drew down approximately $2.9 million (RMB20.0 million) of the loan at a fixed interest rate of 5.5% per annum. This short-term loan was guaranteed by Yongxu Liu, a shareholder, the CEO and Chairman of the Company. On April 15, 2023, the Company repaid approximately $2.9 million (RMB20.0 million) to the bank. On April 17, 2023, the Company drew down approximately $2.8 million (RMB20.0 million) of the loan at a fixed interest rate of 5.5% per annum. As of December 31, 2023, the loan balance under such short-term loan facility was approximately $2.8 million (RMB20 million). Haixia Bank of Fujian Fuzhou Jin’an Branch On April 2, 2021, the Company entered into a loan agreement with Haixia Bank of Fujian Fuzhou Jin’an Branch for a principal amount of approximately $1.5 million (RMB 10.0 million) at a fixed interest rate of 5.5% per annum. On December 14, 2021, the Company made early repayment of approximately $0.75 million (RMB5.0 million) to the bank. On March 28, 2022, the Company made repayment for the rest of the loan. On June 16, 2022, the Company entered into a new short-term loan agreement with Haixia Bank of Fujian Fuzhou Jin’an Branch for a principal amount of approximately $1.4 million (RMB10.0 million) at a fixed interest rate of 5% per annum. The short-term loan was guaranteed by Yongxu Liu, a shareholder, the CEO and Chairman of the Company and the VIE Shengfeng Logistic Group Co., Ltd. In addition, the short-term loan was further collateralized by 26 motor vehicles under one of the VIE’s subsidiaries, Fujian Shengfeng Logistic Co., Ltd. On March 27, 2023, the collateral was changed to 6 motor vehicles under Fuzhou Shengfeng Transportation Co., Ltd. The Company received the loan proceeds on July 13, 2022 and fully repaid approximately $1.4 million (RMB10.0 million) then outstanding on July 7, 2023. On September 26, 2023, the Company entered into a short-term facility agreement with Haixia Bank of Fujian Fuzhou Jin’an Branch, pursuant to which a total facility of up to approximately $1.4 million (RMB10.0 million) was made available to the Company. The loan facility is available for the Company to withdraw from September 26, 2023 to September 26, 2024. The loan facility was guaranteed by Yongxu Liu, a shareholder, the CEO and Chairman of the Company and the VIE Shengfeng Logistic Group Co., Ltd. In addition, the loan facility was further collateralized by 6 motor vehicles under Fuzhou Shengfeng Transportation Co., Ltd. On September 27, 2023, the Company drew down approximately $1.4 million (RMB10.0 million) of the loan at a fixed interest rate of 4.0% per annum. As of December 31, 2023, the loan balance under such short-term loan facility was approximately $1.4 million (RMB10.0 million). Fujian Fuzhou Rural Commercial Bank Co., Ltd. Yuefeng Branch In November 2021, the Company entered into a short-term loan agreement with Fujian Fuzhou Rural Commercial Bank Co., Ltd. Yuefeng Branch for a principal amount of $1.5 million (RMB10.0 million) at a fixed interest rate of 5.50% per annum. This short-term loan was guaranteed by Yongxu Liu, a shareholder, the CEO and Chairman of the Company, and Fujian Yunlian Shengfeng Industrial Co. Ltd. The loan has been repaid on November 1, 2022 in full. After the repayment, the Company entered into a new short-term loan agreement with Fujian Fuzhou Rural Commercial Bank Co., Ltd. Yuefeng Branch on November 9, 2022 and drew down the loan on November 9, 2022 for the same amount of the original loan, with the same terms as the previous agreement and the new loan has been repaid on November 8, 2023. Shanghai Pudong Development Bank Co., Ltd. Fuzhou Branch On September 17, 2021, the Company entered into a short-term loan agreement with Shanghai Pudong Development Bank Co., Ltd. Fuzhou Branch for a principal amount of approximately $1.5 million (RMB10.0 million) at a fixed interest rate of 4.65% per annum. This short-term loan was guaranteed by Yongxu Liu, a shareholder, the CEO and Chairman of the Company, and Fuqing Shengfeng Logistics Co., Ltd. The loan has been early repaid on August 18, 2022. On August 19, 2022, the Company entered into a new short-term loan agreement with Shanghai Pudong Development Bank Co., Ltd. Fuzhou Branch for the same amount of the original loan, at a fixed interest rate of 3.7% per annum. This short-term loan was guaranteed by Yongxu Liu, a shareholder, the CEO and Chairman of the Company, and Fuqing Shengfeng Logistics Co., Ltd. On February 19, 2023, the Company made repayment in full. On February 20, 2023, the Company entered into a new short-term loan agreement with Shanghai Pudong Development Bank Co., Ltd. Fuzhou Branch for the same amount of the original loan, with the same terms as the previous agreement and received the proceeds on the same date. The loan was fully repaid on February 20, 2024. On February 21, 2024, the Company entered into a new short-term loan agreement with Shanghai Pudong Development Bank Co., Ltd. Fuzhou Branch for a principal amount of approximately $1.4 million (RMB10.0 million) at a fixed interest rate of 3.7% per annum. This short-term loan was guaranteed by Yongxu Liu, a shareholder, the CEO and Chairman of the Company, and Fuqing Shengfeng Logistics Co., Ltd. On December 27, 2023, the Company entered into a short-term loan agreement with Shanghai Pudong Development Bank Co., Ltd. Fuzhou Branch for a principal amount of approximately $0.7 million (RMB5.0 million) at a fixed interest rate of 4.0% per annum. This short-term loan was guaranteed by Yongxu Liu, a shareholder, the CEO and Chairman of the Company, and Fuqing Shengfeng Logistics Co., Ltd. Industrial Bank Fuzhou Huqian Sub Branch On March 9, 2021, one of the VIE’s subsidiaries, Fuqing Shengfeng Logistics Co., Ltd., entered into a short-term loan facility agreement with Industrial Bank Fuzhou Huqian Sub-Branch pursuant to which a total facility of up to approximately $1.5 million (RMB10.0 million) was made available to Fuqing Shengfeng Logistics Co., Ltd. On March 26, 2021, Fuqing Shengfeng Logistics Co., Ltd. drew down approximately $0.9 million (RMB6.0 million) of the loan at a fixed interest rate of 3.35% per annum. This short-term loan was guaranteed by Yongxu Liu, a shareholder, the CEO and Chairman of the Company, and Shengfeng Logistics, the VIE. On January 20, 2022, Fuqing Shengfeng Logistics Co., Ltd. made repayment in full. On January 21, 2022, the Company drew down approximately $0.9 million (RMB6.0 million) of the loan at a fixed interest rate of 3.8% per annum. This short-term loan was guaranteed by Yongxu Liu, a shareholder, the CEO and Chairman of the Company, and Shengfeng Logistics, the VIE. The new loan matured on January 21, 2023 and was repaid in full on January 28, 2023. On February 3, 2023, one of the VIE’s subsidiaries, Fuqing Shengfeng Logistics Co., Ltd., entered into a short-term loan facility agreement with Industrial Bank Fuzhou Huqian Sub-Branch, pursuant to which a total facility of up to approximately $0.8 million (RMB6.0 million) with a maturity date on January 18, 2024. This short-term loan was guaranteed by Yongxu Liu, a shareholder, the CEO and Chairman of the Company, and Shengfeng Logistics, the VIE. On February 7, 2023, Fuqing Shengfeng Logistics Co., Ltd. drew down approximately $0.8 million (RMB6.0 million) of the loan at a fixed interest rate of 3.7% per annum. The loan was fully repaid on January 11, 2024. As of December 31, 2023, the loan balance under such short-term loan facility was approximately $0.8 million (RMB6.0 million). On January 12, 2024, Fuqing Shengfeng Logistics Co., Ltd., drew down approximately $0.8 million (RMB6.0 million) of the loan at a fixed interest rate of 3.7% per annum. Industrial Bank Fuzhou Branch On March 10, 2021, the Company entered into a loan agreement Industrial Bank Co., Ltd. Fuzhou Branch for a principal amount of approximately $1.5 million (RMB10.0 million) at a fixed interest rate of 4.35% per annum. Approximately $1.4 million (RMB9.0 million) and $0.2 million (RMB1.0 million) were received on March 10, 2021 and March 12, 2021, respectively. This short-term loan was guaranteed by Yongxu Liu, a shareholder, the CEO and Chairman of the Company. The loan was scheduled to mature in one year from its date of origination. The loan was subsequently repaid in full on March 17, 2022. On March 4, 2022, the Company entered into a short-term loan credit line agreement with Industrial Bank Co., Ltd. Fuzhou Branch for a principal amount of approximately $1.4 million (RMB10.0 million) at a fixed interest rate of 4.35% per annum for the period from March 4, 2022 to November 11, 2022, and the Company can withdraw from this credit line during the period. This short-term loan credit line was guaranteed by Yongxu Liu, a shareholder, the CEO and Chairman of the Company. Approximately $1.3 million (RMB9.0 million) and $0.1 million (RMB1.0 million) were received on March 17, 2022 and March 21, 2022, respectively. The loan was subsequently repaid in full on November 8, 2022. On November 9, 2022, the Company drew down approximately $1.4 million (RMB9.9 million) of loan at a fixed interest rate of 4.2% per annum, which matured on November 9, 2023 and was repaid in full on November 9, 2023. On November 14, 2023, the Company entered into a facility agreement with Industrial Bank Co., Ltd. Fuzhou Branch, pursuant to which a total facility of up to approximately $1.4 million (RMB10.0 million) for a period from November 14, 2023 to November 15, 2025 was made available to the Company. This short-term loan was guaranteed by Yongxu Liu, a shareholder, the CEO and Chairman of the Company. On November 20, 2023, the Company drew down approximately $1.4 million (RMB9.9 million) of loan at a fixed interest rate of 3.9% per annum for one year. As of December 31, 2023, loan balance under the $1.4 million (RMB 10 million) credit line was approximately $1.4 million (RMB9.9 million) and remaining credit line was approximately $0.01 million (RMB0.1 million). On February 29, 2024, the Company entered into a long-term loan credit line agreement with Industrial Bank Co., Ltd. Fuzhou Branch to replace a prior agreement with an aggregate principal amount of approximately $1.5 million (RMB10.0 million). Pursuant to such new agreement, a total facility of up to an aggregate principal amount of approximately $17.6 million (RMB125.0 million) was made available to the Company. The loan facility is available for the Company to withdraw from February 29, 2024 to January 29, 2026. The loans that may be drawn under this loan facility were collateralized by the real estate property valued at approximately $8.0 million and the land use rights for the property located at Dapu village, Honglu street, Fuqing City, Fuzhou City, Fujian Province, PRC, valued at approximately $1.0 million, owned by the Company and were further guaranteed by Yongxu Liu, a shareholder and the CEO and Chairman of the Company, The unpaid loan balance under the prior loan agreement was transferred to this new loan facility agreement, according to the terms stated in the new agreement. At the time of entering new agreement, the unpaid balance of original loan was approximately $1.4 million (RMB9.9 million) received on November 20, 2023. On March 13, 2024, the Company issued commercial acceptance notes payable of approximately $10.6 million (RMB75.0 million) with a due date on September 8, 2024. China Everbright Bank Co., Ltd Fuzhou Tongpan Branch On January 19, 2022, Fuqing Shengfeng Logistics Co., Ltd. entered into a short-term loan agreement with China Everbright Bank Co., Ltd. Fuzhou Tongpan Branch for a term of one year in the principal amount of approximately $0.9 million (RMB6.0 million) at a fixed interest rate of 4.6% per annum. This short-term loan was guaranteed by Yongxu Liu, a shareholder, the CEO and Chairman of the Company, and Shengfeng Logistics, the VIE. The loan proceeds in the amount of approximately $0.9 million (RMB6.0 million) were received by the Company on January 19, 2022. On January 9, 2023, the Company repaid approximately $0.9 million (RMB6.0 million) to the bank. On January 9, 2023, Fuqing Shengfeng Logistics Co., Ltd. entered into a short-term loan agreement with Fuzhou Tongpan Branch of China Everbright Bank Co., Ltd. in the principal amount of approximately $0.8 million (RMB6 million) at a fixed interest rate of 4.1% per annum due on July 11, 2023. This short-term loan was guaranteed by Yongxu Liu, a shareholder, the CEO and Chairman of the Company, and Shengfeng Logistics, the VIE. The loan proceeds in the amount of approximately $0.8 million (RMB6.0 million) were received by the Company on January 9, 2023. On July 7, 2023, Fuqing Shengfeng Logistics Co., Ltd. repaid approximately $0.8 million (RMB6.0 million) to the bank. Guangxi Beibu Gulf Bank Nanning Branch On January 17, 2023, one of the VIE’s subsidiaries, Shengfeng Logistics Guangxi Co., Ltd. entered into a short-term loan agreement with Guangxi Beibu Gulf Bank Nanning branch in the principal amount of approximately $0.7 (RMB5.0 million) at a fixed interest rate of 4.16% per annum due on July 14, 2023. This short- term loan was collateralized by a note receivable which amounted to approximately $0.7 (RMB5.3 million). On July 14, 2023, Shengfeng Logistics Guangxi Co., Ltd. fully repaid this loan. Haixia Bank of Fujian Fuzhou Minjiang Branch On December 25, 2023, the Company entered into a short-term facility agreement with Haixia Bank of Fujian Fuzhou Minjiang Branch, pursuant to which a total facility of up to approximately $1.4 million (RMB10.0 million) was made available to the Company. The loan facility is available for the Company to withdraw from December 25, 2023 to December 25, 2024. The loan facility was guaranteed by Yongxu Liu, a shareholder, the CEO and Chairman of the Company. On December 25, 2023, the Company drew down approximately $1.4 million (RMB10.0 million) of the loan at a fixed interest rate of 3.8% per annum for one year period. As of December 31, 2023, loan balance under such short-term loan facility was approximately $1.4 million (RMB10.0 million). Bank of China Ningde Branch On December 7, 2023, one of the VIE’s subsidiaries, Ningde Shengfeng Logistics Co. Ltd. entered into a long-term credit line agreement with Bank of China Ningde Branch, pursuant to which a total facility of up to approximately $22.6 million (RMB160.0 million) at a float interest for 10 years was made available to Ningde Shengfeng Logistics Co. Ltd. This loan was collateralized by the land use rights located at Jinwan Road, Jiaocheng District, Ningde, Fujian Province amounted to approximately $6.1 million, and guaranteed by Shengfeng VIE, Fuzhou Puhui Technology Co., Ltd, a non-controlling shareholder of Ningde Shengfeng Logistics Co. Ltd., Lingjiao Miao, the controlling shareholder of Fuzhou Puhui Technology Co., Ltd, and Lingjiao Miao’s spouse. No funds were drawn down as of December 31, 2023. Approximately $0.9 million (RMB6.4 million) and approximately $0.5 million (RMB3.4 million) were drawn down on January 5, 2024 and February 5, 2024, respectively. For the years ended December 31, 2023, 2022 and 2021, the interest expenses for the above short-term bank loans were approximately $1.4 million, $2.1 million and $2.3 million, respectively. As of December 31, 2023, the Company had an aggregate credit line of approximately $56.6 million (RMB401 million) and approximately $34.0 million (RMB240.9 million) was used.

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	12 Months Ended
	Dec. 31, 2023
Accrued Expenses and Other Liabilities [Abstract]
Accrued expenses and other liabilitie	12. Accrued expenses and other liabilities Accrued expenses and other current liabilities consisted of the following: As of As of Rental and freight logistics deposits received $ 4,286 $ 3,498 Payables for long-term assets 1,326 1,360 Government subsidies 1,070 1,467 Contract liabilities 1,040 1,142 Cash collected on behalf of the customers (a) 81 181 Service payables 4 12 Contingent liability 169 258 Consideration deposit received from a third party (b) 2,824 - Advance from third party (b) 7,201 - Others 253 503 Total $ 18,254 $ 8,421 Less: accrued expenses and other current liabilities (16,258 ) (6,551 ) Other non-current liabilities $ 1,996 $ 1,870 (a) The Company collects the goods considerations from the recipients after they deliver the goods to the determined locations on behalf of the customers, and will pay to the customers on a regular basis. (b) On September 26, 2023, the Company entered into a shareholder agreement with a third party. Pursuant to the agreement: (i) the Company will develop the land together with the third party through SF Smart as a project management company. (ii) the third party will obtain 51% equity interest in Pingtan SF for a consideration of approximately $7.2 million (RMB51.0 million). (iii) the third party and the Company will advance approximately $7.2 million (RMB51.0 million) and $6.9 million (RMB49.0 million) to SF Smart, respectively, these advances are due on demand, with interest rate at the loan prime rate for one-year of the People’s Bank of China. As of December 31, 2023, the Company received the advance from this third party in full of approximately $7.2 million (RMB51.0 million) and the consideration deposit of approximately $2.8 million (approximately RMB20.0 million) for the equity interest. Subsequently on January 12, 2024, the Company received the remaining equity consideration approximately $4.4 million (RM31.0 million) from the third party.

Leases

Leases	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Leases	13. Leases Operating leases as lessee As of December 31, 2023 and 2022, the Company has operating leases recorded on its consolidated balance sheets for certain office spaces and warehouses that expire on various dates through 2032. The Company does not plan to cancel the existing lease agreements for its existing facilities prior to their respective expiration dates. When determining the lease term, the Company considers options to extend or terminate the lease when it is reasonably certain that it will exercise or not exercise that option. The Company’s lease arrangements may contain both lease and non-lease components. The Company has separately accounted for lease and non-lease components based on their nature. Payments under the Company’s lease arrangement are fixed. The Company terminated leases for certain facilities with lower usage, the termination of the leases reduced operating ROU assets of approximately $4.2 million and operating lease liabilities of approximately $4.0 million, respectively. The following tables shows ROU assets and lease liabilities, and the associated financial statement line items: As of As of Assets Operating lease right-of-use assets, net $ 18,020 $ 27,880 Liabilities Operating lease liabilities, current $ 6,315 $ 9,634 Operating lease liabilities, non-current $ 10,899 $ 17,507 Weighted average remaining lease term (in years) 4.67 5.1 Weighted average discount rate (%) 5.84 5.78 Information related to operating lease activities during the years ended December 31, 2023, 2022 and 2021 are as follows: Year ended Year ended Year ended Operating lease right-of-use assets (extinguished) obtained in exchange for lease liabilities $ (1,347 ) $ 9,674 $ 12,247 Operating lease expense Amortization of right-of-use assets 8,096 9,157 7,963 Interest of lease liabilities 1,241 1,656 1,585 Total $ 9,337 $ 10,813 $ 9,548 Maturities of lease liabilities were as follows: Lease Twelve months ending December 31, 2024 $ 6,524 2025 4,126 2026 2,583 2027 1,913 2028 1,300 Thereafter 3,390 Total lease payments 19,836 Less: imputed interest (2,622 ) Total $ 17,214

Taxes

Taxes	12 Months Ended
	Dec. 31, 2023
Taxes [Abstract]
Taxes	14. Taxes (a) Corporate Income Taxes (“CIT”) Cayman Islands Under the current tax laws of Cayman Islands, the Company is not subject to tax on income or capital gain. Additionally, the Cayman Islands does not impose a withholding tax on payments of dividends to shareholders. Hong Kong Under the current Hong Kong Inland Revenue Ordinance, the Company’s subsidiaries incorporated in Hong Kong are subject to two-tier profit tax rates. The profits tax rate for the first HKD 2 million of assessable profits of a corporation will be subject to the lowered tax rate, 8.25% while the remaining assessable profits will be subject to the legacy tax rate, 16.5%. Additionally, payments of dividends by the subsidiaries incorporated in Hong Kong to the Company are not subject to any Hong Kong withholding tax. The Company did not make any provision for Hong Kong profit tax as there were no assessable profits derived from or earned in Hong Kong since inception. PRC The Company’s PRC subsidiaries, VIE and VIE’s subsidiaries are governed by the income tax laws of the PRC and the income tax provision in respect to operations in the PRC is calculated at the applicable tax rates on the taxable income for the periods based on existing legislation, interpretations and practices in respect thereof. Under the Enterprise Income Tax Laws of the PRC (the “EIT Laws”), domestic enterprises and Foreign Investment Enterprises (the “FIE”) are usually subject to a unified 25% enterprise income tax rate while preferential tax rates, tax holidays and even tax exemption may be granted on case-by-case basis. The total impact of preferential tax rates amounted to approximately $0.8 million, $0.3 million and $0.2 million for the years ended December 31, 2023, 2022 and 2021, respectively and the impact to EPS is not significant for the years ended December 31, 2023, 2022 and 2021. Under the PRC Income Tax Laws, an enterprise which qualifies as a High and New Technology Enterprise (“the HNTE”) is entitled to a preferential tax rate of 15% provided it continues to meet HNTE qualification standards on an annual basis. Beijing Shengfeng Supply Chain Management Co., Ltd. as an HNTE and is entitled for a preferential tax rate of 15% from 2020 to 2025. Guangdong Shengfeng Logistics Co., Ltd. as an HNTE and is entitled for a preferential tax rate of 15% from 2020 to 2022. Beijing Tianyushengfeng e-commerce Technology Co. Ltd. as an HNTE and is entitled for a preferential tax rate of 15% from 2021 to 2023 to the extent it has taxable income under the Enterprise Income Tax Law. Shengfeng Supply Chain Management Co. Ltd. is eligible to enjoy a preferential tax rate of 15% from 2020 to 2022 and further extended to 2025 to the extent it has taxable income under the Enterprise Income Tax (“EIT”) Law due to the local preferential tax policy. Several VIE’s subsidiaries, including Chengdu Shengfeng Supply Chain Management Co., Ltd., Shengfeng Logistics (Liaoning) Co., Ltd., Sichuan Shengfeng Logistics Co., Ltd., Shengfeng Logistics (Guangxi) Co., Ltd., etc., are qualified as small and micro enterprises, thus the preferential effective tax rates of 2.5 i) The components of income (loss) before income taxes are as follows: Year ended Year ended Year ended Non-PRC $ (421 ) $ (472 ) $ - PRC 13,049 9,897 8,161 Total $ 12,628 $ 9,425 $ 8,161 ii) The components of the income tax provision are as follows: Year ended Year ended Year ended Current $ 796 $ 361 $ 21 Deferred 1,524 1,238 1,496 Total $ 2,320 $ 1,599 $ 1,517 iii) The following table reconciles PRC statutory rates to the Company’s effective tax rate: The following table reconciles the China statutory rates to the Company’s effective tax rate for the years ended December 31, 2023, 2022 and 2021: Year ended Year ended Year ended PRC statutory income tax rate 25.0 % 25.0 % 25.0 % Effect of preferential tax rates (1) (6.2 )% (2.8 )% (3.8 )% Eligible additional deduction (2) (3.5 )% (3.3 )% (3.2 )% Impact of different tax rates in other jurisdictions 0.8 % 1.3 % - % Non-taxable and exemptions (0.3 )% (3.3 )% - % Permanent differences (3) 2.6 % 0.1 % 0.6 % Effective income tax rate 18.4 % 17.0 % 18.6 % (1) Preferential tax rates for small and micro enterprises and high-tech entities. (2) Eligible additional deduction mainly consisted of research and development super deduction and disabled staff super deduction. (3) Permanent differences mainly consisted of non-deductible meal and entertainment fees in PRC tax returns. iv) The following table summarizes deferred tax assets and liabilities resulting from differences between financial accounting basis and tax basis of assets and liabilities: As of As of Deferred tax assets: Net operating losses carryforward $ 609 $ 2,300 Allowance for credit losses 913 874 Deferred income (a) 267 279 Intangible assets (b) 155 134 Operating lease liabilities 4,303 - Subtotal 6,247 3,587 Less: valuation allowance - - Deferred tax assets $ 6,247 $ 3,587 Deferred tax liabilities: Operating lease right-of-use assets $ 4,254 $ - Deferred tax liabilities $ 4,254 $ - (a) Deferred income represents the assets related government subsidies, which will amortize on a straight-line basis within the useful life of related assets. The tax basis is recognized when the Company received the subsidies. (b) Intangible asset represents the amortization temporary difference of licensed software. Management uses 10 years useful life as the tax basis, which is different from the 5 years useful life in accounting basis. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the cumulative earnings and projected future taxable income in making this assessment. Recovery of substantially all of the Company’s deferred tax assets is dependent upon the generation of future income, exclusive of reversing taxable temporary differences. Based upon the level of historical taxable income and projections for future taxable income over the periods in which the deferred tax assets are recoverable, valuation allowances of nil Uncertain tax positions According to the PRC Tax Administration and Collection Law, the statute of limitation is three years if the underpayment of taxes is due to computational errors made by the taxpayer or the withholding agent. The statute of limitation is extended to five years under special circumstances where the underpayment of taxes is more than RMB100. In the case of transfer pricing issues, the statute of limitation is 10 years. The Company evaluates each uncertain tax position (including the potential application of interest and penalties) based on the technical merits, and measures the unrecognized benefits associated with the tax positions. As of December 31, 2023 and 2022, the Company did not have any significant unrecognized uncertain tax positions. The Company did not incur interests and penalties tax for the years ended December 31, 2023, 2022 and 2021. (b) Tax payable Tax payable consisted of the following: As of As of Value-added tax payable $ 1,665 $ 1,828 Income tax payable 343 185 Other taxes payable 270 194 Total $ 2,278 $ 2,207

Shareholders' Equity

Shareholders' Equity	12 Months Ended
	Dec. 31, 2023
Shareholders' Equity [Abstract]
Shareholders' equity	15. Shareholders’ equity Ordinary shares The Company was established as a holding company under the laws of Cayman Islands on July 16, 2020. The original authorized number of ordinary shares is 50,000 shares with par value of US$1.00 per share. On December 18, 2020, the Company amended the Memorandum of Association to increase the authorized share capital to 400,000,000 Class A Ordinary Shares and 100,000,000 Class B Ordinary Shares and reduced the par value to US$0.0001 per share. Initial Public Offering On April 4, 2023, the Company completed its initial public offering (the “IPO”) of 2,400,000 Class A ordinary shares at a public offering price of $4.00 per share. The gross proceeds was $9.6 million from the offering, before deducting underwriting discounts and other related expenses. The Company received approximately $8.5 million after deducting offering cost. Underwriter’s Warrants In connection with the IPO, the Company issued to Univest Securities, LLC, and its affiliates, as the representative of the underwriters, warrants that are exercisable for a period of one year after the effective date of the registration statement, entitling the holders of the warrants to purchase an aggregate of up to 144,000 Class A ordinary shares at a per share price of $4.46. Management determined that these warrants meet the requirements for equity classification under ASC 815-40 because they are indexed to its own shares and meet the requirements for equity classification. The warrants were recorded at their fair value on the date of grant as a component of shareholders’ equity. The fair value of these warrants was $368,454, which was considered a direct cost of IPO and included in additional paid-in capital. The fair value has been estimated using the Black-Scholes pricing model with the following weighted-average assumptions: market value of underlying share of $4.05, risk free rate of 4.5%; expected term of one year; exercise price of the warrants of $4.46, volatility of 183.5%; and expected future dividends of nil As of December 31, 2023, 40,617,513 Class A ordinary shares and 41,880,000 Class B ordinary shares were issued and outstanding. The shares are presented on a retroactive basis to reflect the recapitalization. Non-controlling interests For the year ended December 31, 2023, one of the non-controlling shareholders made capital contributions totaling approximately $0.6 million to the Company. On December 31, 2022, Suzhou Shengfeng, one of VIE subsidiaries declared a dividend of approximately $2.5 million based on the subsidiary’s performance up to October 31, 2022, of which approximately $0.3 million was paid to the non-controlling shareholders; For the year ended December 31, 2021, one of the non-controlling shareholders made capital contributions totaling approximately $3.4 million to the Company. Statutory reserves The Company is required to make appropriations to certain reserve funds, comprising the statutory surplus reserve and the discretionary surplus reserve, based on after-tax net income determined in accordance with generally accepted accounting principles of the PRC (“PRC GAAP”). Appropriations to the statutory surplus reserve are required to be at least 10% of the after-tax net income determined in accordance with PRC GAAP until the reserve is equal to 50% of the entity’s registered capital. Appropriations to the discretionary surplus reserve are made at the discretion of the Board of Directors. The statutory reserve as determined pursuant to PRC statutory laws totaled approximately $4.9 million and $4.0 million as of December 31, 2023 and 2022, respectively. Restricted assets The Company’s ability to pay dividends is primarily dependent on the Company receiving distributions of funds from its subsidiary. Relevant PRC statutory laws and regulations permit payments of dividends by Shengfeng WFOE and its subsidiaries, Shengfeng VIE and its subsidiaries (collectively “Shengfeng PRC entities”) only out of its retained earnings, if any, as determined in accordance with PRC accounting standards and regulations. The results of operations reflected in the accompanying consolidated financial statements prepared in accordance with U.S. GAAP differ from those reflected in the statutory financial statements of Shengfeng PRC entities. Shengfeng PRC entities are required to set aside at least 10% of their after-tax profits each year, if any, to fund certain statutory reserve funds until such reserve funds reach 50% of its registered capital. In addition, Shengfeng PRC entities may allocate a portion of its after-tax profits based on PRC accounting standards to enterprise expansion fund and staff bonus and welfare fund at its discretion. Shengfeng PRC entities may allocate a portion of its after-tax profits based on PRC accounting standards to a discretionary surplus fund at its discretion. The statutory reserve funds and the discretionary funds are not distributable as cash dividends. Remittance of dividends by a wholly foreign-owned company out of China is subject to examination by the banks designated by State Administration of Foreign Exchange. As a result of the foregoing restrictions, Shengfeng PRC entities are restricted in their ability to transfer their assets to the Company. Foreign exchange and other regulation in the PRC may further restrict Shengfeng PRC entities from transferring funds to the Company in the form of dividends, loans and advances. As of December 31, 2023 and 2022, amounts restricted are the paid-in-capital and statutory reserve of Shengfeng PRC entities, which amounted to approximately $87.1 million and $79.6 million, respectively.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies [Abstract]
Commitments and contingencies	16. Commitments and contingencies (a) Contingencies The Company is subject to legal proceedings and regulatory actions in the ordinary course of business. The results of such proceedings cannot be predicted with certainty, but the Company does not anticipate that the final outcome arising out of any such matters will have a material adverse effect on our consolidated financial position, cash flows or results of operations on an individual basis or in the aggregate. As of December 31, 2023, the Company had various legal proceedings or disputes related to the customers, suppliers, labor contracts and traffic accidents, which were still pending court decisions. Approximately $0.2 million (RMB1.2 million) was frozen in bank due to the pending lawsuits, which was included in restricted cash as of December 31, 2023. As of the date of this audit report, the above-mentioned amount is still frozen in bank and the other legal proceedings or disputes have no material impact to the Company’s business or financial performances. (b) Variable interest entity structure It is the opinion of management that (i) the corporate structure of the Company is in compliance with existing PRC laws and regulations; (ii) the Contractual Arrangements are valid and binding, and do not result in any violation of PRC laws or regulations currently in effect; and (iii) the business operations of Tianyu and the VIE are in compliance with existing PRC laws and regulations in all material respects. However, there are substantial uncertainties regarding the interpretation and application of current and future PRC laws and regulations. Accordingly, the Company cannot be assured that PRC regulatory authorities will not ultimately take a contrary view to the foregoing opinion of the Company’s management. If the current corporate structure of the Company or the Contractual Arrangements is found to be in violation of any existing or future PRC laws and regulations, the Company may be required to restructure its corporate structure and operations in the PRC to comply with changing and new PRC laws and regulations. In the opinion of management, the likelihood of loss in respect of the Company’s current corporate structure or the Contractual Arrangements is remote based on current facts and circumstances.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
Subsequent events	17. Subsequent events The Company evaluated all events and transactions that occurred after December 31, 2023 up through the date the Company issued these consolidated financial statements, for disclosure or recognition in the consolidated financial statements of the Company as appropriate.

Unaudited Condensed Financial I

Unaudited Condensed Financial Information of the Parent Company	12 Months Ended
	Dec. 31, 2023
Unaudited Condensed Financial Information of the Parent Company [Abstract]
Unaudited Condensed financial information of the parent company	18 Unaudited Condensed financial information of the parent company The Company’s PRC subsidiaries are restricted in their ability to transfer a portion of their net assets to the Company. Payment of dividends by entities organized in the PRC are subject to limitations, procedures and formalities. Regulations in the PRC currently permit payments of dividends only out of accumulated profits as determined in accordance with accounting standards and regulations in the PRC. The Company’s PRC subsidiaries are also required to set aside at least 10% of its after-tax profit based on PRC accounting standards each year to its statutory reserves account until the accumulative amount of such reserves reaches 50% of its respective registered capital. The aforementioned reserves can only be used for specific purposes and are not distributable as cash dividends. In addition, the Company’s operations and revenues are conducted and generated in the PRC, all of the Company’s revenue being earned and currency received is denominated in RMB. RMB is subject to the foreign exchange control regulation in China, and, as a result, the Company may be unable to distribute any dividends outside of China due to PRC foreign exchange control regulations that restrict the Company’s ability to convert RMB into USD. Regulation S-X requires that the condensed financial information of registrant shall be filed when the restricted net assets of consolidated subsidiaries exceed 25 percent of consolidated net assets as of the end of the most recently completed fiscal year. For purposes of the above test, restricted net assets of consolidated subsidiaries shall mean that amount of the registrant’s proportionate share of net assets of consolidated subsidiaries (after intercompany eliminations) which as of the end of the most recent fiscal year may not be transferred to the parent company by subsidiaries in the form of loans, advances or cash dividends without the consent of a third party. The condensed parent company financial statements have been prepared in accordance with Rule 12-04, Schedule I of Regulation S-X as the restricted net assets of the Company’s PRC subsidiary exceed 25% of the consolidated net assets of the Company. Certain information and footnote disclosures normally included in financial statements prepared in conformity with generally accepted accounting principles have been condensed or omitted. The Company’s investment in subsidiary is stated at cost plus equity in undistributed earnings of subsidiaries. December 31, December 31, 2023 2022 ASSETS Current assets Cash $ 542 $ 47 Prepayments and other current assets 93 - Total Current Assets 635 47 Deferred issuance costs - 81 Investment in subsidiaries and VIEs (restricted) 107,312 91,695 Non-current assets 107,312 91,776 Total Assets $ 107,947 $ 91,823 Liabilities and Equity Current liabilities Due to a related party - 600 Total Current Liabilities - 600 Total liabilities - 600 Commitments and Contingencies Shareholders’ Equity Class A Ordinary share, $0.0001 par value, 400,000,000 shares authorized; 40,617,513 and 38,120,000 shares issued and outstanding as of December 31, 2023 and 2022, respectively. 4 4 Class B Ordinary share, $0.0001 par value, 100,000,000 shares authorized; 41,880,000 shares issued and outstanding as of December 31, 2023 and 2022. 4 4 Additional paid-in capital 83,762 79,549 Retained earnings 31,543 17,275 Accumulated other comprehensive (loss) (7,366 ) (5,609 ) Total Shareholders’ Equity 107,947 91,223 Total Liabilities and Shareholders’ Equity $ 107,947 $ 91,823 Years Ended December 31, 2023 2022 2021 Equity in earnings of subsidiaries $ 10,715 $ 8,259 $ 6,898 General and administrative expenses (421 ) (472 ) - NET INCOME 10,294 7,787 6,898 OTHER COMPREHENSIVE INCOME (LOSS) Foreign currency translation adjustment (1,757 ) (8,157 ) 2,072 COMPREHENSIVE INCOME (LOSS) $ 8,537 $ (370 ) $ 8,970 Years Ended December 31, 2023 2022 2021 Cash flows from operating activities Net income $ 10,294 $ 7,787 $ 6,898 Adjustments to reconcile net income to net cash used in operating activities: Equity income of subsidiaries and VIEs (10,715 ) (8,259 ) (6,898 ) Prepaid expenses and other current assets (92 ) - - Net cash used in operating activities (513 ) (472 ) - Cash flows from investing activities Loan to a subsidiary (6,660 ) - - Net cash used in investing activities (6,660 ) - - Cash flows from financing activities Due to a related party (600 ) 600 - Deferred issuance costs (279 ) (81 ) - Proceeds from initial public offering 8,547 - - Net cash provided by financing activities 7,668 519 - Net increase in cash 495 47 - Cash, beginning of year $ 47 $ - $ - Cash, end of year $ 542 $ 47 $ -

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	12 Months Ended
	Dec. 31, 2023
Summary of Significant Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The accompanying audited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for information pursuant to the rules and regulations of the SEC.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the financial statements of the Company, its subsidiaries, VIE and VIE’s subsidiaries over which the Company exercises control and, where applicable, entities for which the Company has a controlling financial interest or is the primary beneficiary. All significant transactions and balances between the Company, its subsidiaries, VIE and VIE’s subsidiaries have been eliminated upon consolidation. Subsidiaries are those entities in which the Company, directly or indirectly, controls more than one half of the voting power; or has the power to govern the financial and operating policies, to appoint or remove the majority of the members of the board of directors, or to cast a majority of votes at the meeting of directors. A VIE is an entity in which the Company, or its subsidiary, through contractual arrangements, bears the risks of, and enjoys the rewards normally associated with, ownership of the entity, and therefore the Company or its subsidiary is the primary beneficiary of the entity. Non-controlling interest represents the portion of the net assets of subsidiaries attributable to interests that are not owned or controlled by the Company. The non-controlling interest is presented in the consolidated balance sheets, separately from equity attributable to the shareholders of the Company. Non-controlling interest’s operating results are presented on the face of the consolidated statements of income and comprehensive income as an allocation of the total income for the year between non-controlling shareholders and the shareholders of the Company. All significant transactions and balances between the Company, its subsidiaries, VIE and VIE’s subsidiaries have been eliminated upon consolidation.
Use of Estimate and Assumptions	Use of Estimate and Assumptions The preparation of the Company’s consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods presented. Estimates are adjusted to reflect actual experience when necessary. Significant accounting estimates reflected in the Company’s consolidated financial statements include allowance for credit losses, discount rate used in operating lease right-of-use assets and valuation allowance for deferred tax asset. Actual results could differ from these estimates.
Variable Interest Entities	Variable Interest Entities The Company applies the guidance codified in Accounting Standard Codification 810, Consolidations (“ASC 810”) on accounting for the VIE and its respective subsidiaries, which requires certain variable interest entities to be consolidated by the primary beneficiary of the entity in which it has a controlling financial interest. A VIE is an entity with one or more of the following characteristics: (a) the total equity investment at risk is not sufficient to permit the entity to finance its activities without additional financial support; (b) as a group, the holders of the equity investment at risk lack the ability to make certain decisions, the obligation to absorb expected losses or the right to receive expected residual returns, or (c) an equity investor has voting rights that are disproportionate to its economic interest and substantially all of the entity’s activities are on behalf of the investor. The accompanying consolidated financial statements include the financial statements of the Company, its subsidiaries and the VIE. The Company is considered the primary beneficiary of a VIE or its subsidiaries if the Company had variable interests, that will absorb the entity’s expected losses, receive the entity’s expected residual returns, or both. The Company’s total assets and liabilities presented in the accompanying consolidated financial statements represent substantially all of the total assets and liabilities of the VIE because the other entities in the consolidation are non-operating holding entities with nominal assets and liabilities. The following financial statement amounts and balances of the VIE were included in the accompanying audited consolidated financial statements for the years ended December 31, 2023, 2022 and 2021, respectively: As of 2023 2022 Current assets $ 146,894 $ 135,650 Non-current assets 103,055 109,481 Total assets $ 249,949 $ 245,131 Current liabilities $ 127,603 $ 130,196 Non-current liabilities 17,057 19,377 Total liabilities $ 144,660 $ 149,573 Net assets $ 105,289 $ 95,558 Years Ended December 31, 2023 2022 2021 Total revenues $ 401,825 $ 370,325 $ 346,699 Cost of revenues $ (355,662 ) $ (328,793 ) $ (305,354 ) Income from operations $ 14,420 $ 10,318 $ 8,587 Net income $ 10,828 $ 8,298 $ 6,644
Foreign currencies translation and transaction	Foreign currencies translation and transaction The reporting currency of the Company is the U.S. dollar. The Company in mainland China conducts its businesses in the local currency, Renminbi (RMB), as its functional currency. Assets and liabilities are translated at the unified exchange rate as quoted by the People’s Bank of China at the end of the period. The statement of income accounts is translated at the average translation rates and the equity accounts are translated at historical rates. Translation adjustments resulting from this process are included in accumulated other comprehensive income (loss). Transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency are included in the results of operations as incurred. Translation adjustments included in accumulated other comprehensive loss amounted to $7,366 and $5,609 as of December 31, 2023 and 2022, respectively. The balance sheet amounts, with the exception of shareholders’ equity, at December 31, 2023 and 2022 were translated at RMB7.0827 and RMB6.9646, respectively. The shareholders’ equity accounts were stated at their historical rates. The average translation rates applied to the statements of income accounts for the years ended December 31, 2023, 2022 and 2021 were RMB7.0467, RMB6.7261 and RMB6.4515 to $1.00 respectively. Cash flows are also translated at average translation rates for the periods, therefore, amounts reported on the consolidated statements of cash flows will not necessarily agree with changes in the corresponding balances on the consolidated balance sheets.
Cash and cash equivalents	Cash and cash equivalents Cash and cash equivalents represent demand deposits placed with banks or other financial institutions, which are unrestricted as to withdrawal or use, and which have original maturities of three months or less and are readily convertible to known amounts of cash. The Company maintains most of its bank accounts in the mainland of China. Cash balances in bank accounts in mainland China are insured by the People’s Bank of China Financial Stability Department (“FSD”) while there is a RMB 500,000 deposit insurance limit for a legal entity’s aggregated balance at each bank. As of December 31, 2023 and 2022, the Company had approximately $26.7 million and $21.3 million, respectively, of cash in banks, most held in the banks located in the mainland of China. Most of cash balance as of December 31, 2023 and 2022 are denominated in RMB.
Restricted cash	Restricted cash Restricted cash represents cash that cannot be withdrawn without the permission of third parties. The Company’s restricted cash is substantially cash balance in designated bank accounts as security for payment processing lawsuit and bank acceptance notes payables. Restriction on the use of such cash and the interest earned thereon is imposed by the banks and remains effective throughout the term of the security period. Upon maturities of the security period, the bank’s deposits are available for general use by the Company.
Fair value of financial instruments	Fair value of financial instruments ASC 825-10 requires certain disclosures regarding the fair value of financial instruments. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three-level fair value hierarchy prioritizes the inputs used to measure fair value. The hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: ● Level 1 — inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. ● Level 2 — inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, quoted market prices for identical or similar assets in markets that are not active, inputs other than quoted prices that are observable and inputs derived from or corroborated by observable market data. ● Level 3 — inputs to the valuation methodology are unobservable. Unless otherwise disclosed, the fair value of the Company’s financial instruments, including cash, restricted cash, accounts receivable, prepayments and other current assets, due from related parties, accounts payable, due to a related party, short-term bank loans, salary and welfare payables, accrued expenses and other current liabilities, current operating lease liabilities and taxes payable, approximates their recorded values due to their short-term maturities. The carrying value of long-term lease liabilities approximated its fair value as of December 31, 2023 and 2022 as the interest rates applied reflect the current market yield for comparable financial instruments.
Notes receivable	Notes receivable Notes receivable represents trade accounts receivable due from various customers where the customers’ banks have guaranteed the payments. The notes are non-interest bearing and normally paid within three to twelve months. The Company has the ability to submit request for payment to the customer’s bank earlier than the scheduled payment date but will incur an interest charge and a processing fee. As of December 31, 2023 and 2022, no notes were pledged .
Accounts receivable, net	Accounts receivable, net Accounts receivable are recognized in the period when the Company has provided services to its customers and when its right to consideration is unconditional. On January 1, 2023, the Company adopted ASU 2016-13, “Financial Instruments — Credit Losses (Accounting Standards Codification (“ASC” Topic 326): Measurement on Credit Losses on Financial Instruments”, including certain subsequent amendments, transitional guidance and other interpretive guidance within ASU 2018-19, ASU 2019-04, ASU 2019-05, ASU 2019-11, ASU 2020-02 and ASU 2020-03 (collectively, including ASU 2016-13, “ASC 326”). ASC 326 introduces an approach based on expected losses to estimate the allowance for doubtful accounts, which replaces the previous incurred loss impairment model. The adoption of this guidance did not have a material impact on the Company’s consolidated financial statements. The Company’s estimation of allowance for credit losses considers factors such as historical credit loss experience, age of receivable balances, current market conditions, reasonable and supportable forecasts of future economic conditions, as well as an assessment of receivables due from specific identifiable counterparties to determine whether these receivables are considered at risk or uncollectible. The Company evaluates its accounts receivable for expected credit losses on a regular basis. The Company maintains an estimated allowance for credit losses to reduce its accounts receivable to the amount that it believes will be collected. The Company considers factors in assessing the collectability of its receivables, such as the age of the amounts due, the customer’s payment history, credit-worthiness and other specific circumstances related to the accounts. The Company adjusts the allowance percentage periodically when there are significant differences between estimated bad debts and actual bad debts. If there is strong evidence indicating that the accounts receivable is likely to be unrecoverable, the Company also makes specific allowance in the period in which a loss is determined to be probable. Accounts receivable balances are written off after all collection efforts have been exhausted. The allowance for credit losses was approximately $3.3 million and $3.1 million as of December 31, 2023 and 2022, respectively.
Prepayments and other assets, net	Prepayments and other assets, net Prepayment and other assets primarily consist of VAT recoverable, advances to vendors for purchasing goods, long-lived assets or services that have not been received or provided, advances to employees, security deposits made to customers and advances to employees. Prepayment and other assets are classified as either current or non-current based on the terms of the respective agreements. These advances are unsecured and are reviewed periodically to determine whether their carrying value has become impaired. The Company considers the assets to be impaired if the collectability and recoverability of the advance becomes doubtful. The Company uses the aging method to estimate the allowance for uncollectible balances. The allowance is also based on management’s best estimate of specific losses on individual exposures, as well as a provision on historical trends of collections and utilizations. Actual amounts received or utilized may differ from management’s estimate of credit worthiness and the economic environment. The allowance for credit losses for prepayments and other assets were approximately $0.4 million and $0.5 million as of December 31, 2023 and 2022, respectively.
Property and equipment, net	Property and equipment, net Property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method over the following estimated useful lives, taking into account any estimated residual value. Useful Life Building 10-40 years Office equipment 5-10 years Machinery and tools 5 years Vehicles 5-7 years Leasehold improvements Lesser of the lease term or the estimated useful lives of the assets The Company constructs certain of its property and equipment. In addition to costs under the construction contracts, external costs that are directly related to the construction and acquisition of such property and equipment are capitalized. Depreciation and amortization is recorded at the time assets are ready for their intended use. Such properties are classified to the appropriate categories of property and equipment when completed and ready for intended use. Depreciation and amortization of these assets, on the same basis as other property assets, commences when the assets are ready for their intended use. The cost and related accumulated depreciation and amortization of assets sold or otherwise retired are eliminated from the accounts and any gain or loss is included in the consolidated statements of income and comprehensive income (loss). Expenditures for maintenance and repairs are charged to earnings as incurred, while additions, renewals and betterments, which are expected to extend the useful life of assets, are capitalized. The Company also re-evaluates the periods of depreciation and amortization to determine whether subsequent events and circumstances warrant revised estimates of useful lives.
Intangible assets, net	Intangible assets, net Intangible assets consist primarily of land use rights and licensed software acquired, which are stated at cost less accumulated amortization and impairment, if any. Intangible assets are amortized using the straight-line method over the estimated useful lives, which are generally 5 to 50 years or based on the contract terms. The estimated useful lives of amortized intangible assets are reassessed if circumstances occur that indicate the original estimated useful lives have changed. The estimated useful lives are as follows: Useful life Land use right 32 - 50 years Licensed software 5 years
Impairment of long-lived assets	Impairment of long-lived assets The Company evaluates its long-lived assets, including property and equipment and intangibles with finite lives, for impairment whenever events or changes in circumstances, such as a significant adverse change to market conditions that will impact the future use of the assets, indicate that the carrying amount of an asset may not be fully recoverable. When these events occur, the Company evaluates the recoverability of long-lived assets by comparing the carrying amount of the assets to the future undiscounted cash flows expected to result from the use of the assets and their eventual disposition. If the sum of the expected undiscounted cash flows is less than the carrying amount of the assets, the Company recognizes an impairment loss based on the excess of the carrying amount of the assets over their fair value. Fair value is generally determined by discounting the cash flows expected to be generated by the assets, when the market prices are not readily available. The adjusted carrying amount of the assets become new cost basis and are depreciated over the assets’ remaining useful lives. Long-lived assets are grouped with other assets and liabilities at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. Given no events or changes in circumstances indicating the carrying amount of long-lived assets may not be recovered through the related future net cash flows, the Company did not recognize any impairment loss on long-lived assets for the years ended December 31, 2023, 2022 and 2021.
Long-term investments	Long-term investments Long-term investments are primarily consisted of equity investments in privately held entities accounted for using equity investments accounted for using the equity method. On January 1, 2019, the Company adopted ASU 2016-01 Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. According to the guidance, the Company started to record equity investments at fair value, with gains and losses recorded through net earnings. And the Company elected to measure certain equity investments without readily determinable fair value at cost, less impairments, plus or minus observable price changes and assess for impairment quarterly.
Equity investments accounted for using the equity method	Equity investments accounted for using the equity method The Company accounts for its equity investment over which it has significant influence but does not own a majority equity interest or otherwise control, using the equity method. The Company adjusts the carrying amount of the investment and recognizes investment income or loss for its share of the earnings or loss of the investee after the date of investment. The Company assesses its equity investment for other-than-temporary impairment by considering factors including, but not limited to, current economic and market conditions, operating performance of the entity, including current earnings trends and undiscounted cash flows, and other entity-specific information. The fair value determination, particularly for investments in a privately held entity, requires judgment to determine appropriate estimates and assumptions. Changes in these estimates and assumptions could affect the calculation of the fair value of the investment and determination of whether any identified impairment is other-than-temporary.
Deferred issuance costs	Deferred issuance costs Pursuant to ASC 340-10-S99-1, offering costs directly attributable to an offering of equity securities are deferred and would be charged against the gross proceeds of the offering as a reduction of additional paid-in capital. These costs include legal fees related to the registration drafting and counsel, consulting fees related to the registration preparation, SEC filing and print related costs, exchange listing costs, and road show related costs.
Notes payable	Notes payable Notes payable represents trade accounts payable due to various suppliers where the Company’s banks have guaranteed the payment. The notes are non-interest bearing and normally paid within three to twelve months. The Company shall keep sufficient cash in designated bank accounts or notes receivable pledged to the bank as security for payment processing.
Revenue recognition	Revenue recognition The Company adopted ASC Topic 606, Revenue from Contracts with Customers, effective as of January 1, 2019. Accordingly, the audited consolidated financial statements for the years ended December 31, 2023, 2022 and 2021 are presented under ASC 606. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Revenue is the transaction price the Company expects to be entitled to in exchange for the promised services in a contract in the ordinary course of the Company’s activities and is recorded net of value-added tax (“VAT”). To achieve that core principle, the Company applies the following steps: Step 1: Identify the contract (s) with a customer Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to the performance obligations in the contract Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation The Company generates revenues from providing transportation services and warehouse storage management services. No practical expedients were used when adoption ASC 606. Revenue recognition policies for each type of revenue stream are as follow: Transportation services The Company derives its transportation service revenue by providing logistic services based on customers’ order. The Transportation service is considered a performance obligation as the customer can only obtain benefits when the goods are delivered to the destination. The transaction price is predetermined according to the distance of the transportation as well as the volume of the goods. Generally, the credit term is within two months. There is no other obligation in our contracts, such as return, refund or warranties. Revenue is recognized at the point in time when delivery of goods is made and customer has accepted delivery. Warehouse storage management services The Company derives revenue from the warehouse storage management service provided to third-party companies, including handling services, security and other services. The promised services in each warehouse storage management service contract are accounted as a single performance obligation, as the promised services in a contract are not distinct and are considered as a significant integrated service. The consideration is predetermined in the contract according to the unit price, space and term as well as the services used with no other obligations such as return, refund or warranties. No variable considerations exist such as discounts, rebates, refunds, credits, price concession, incentive performance bonuses or penalties. Pursuant to the service agreement, the Company provides the clients with warehouse storage management service during the service period. Service fees for which are paid by such customers on a monthly basis. The revenue is recognized on a straight-line basis over the period of the warehouse storage management service term, as customers simultaneously receive and consume the benefits of these services throughout the service period. Principal and Agent Considerations In the Company’s transportation business, the Company utilizes independent contractors and third-party carriers in the performances of some transportation services as and when needed. GAAP requires us to evaluate, using a control model, whether the Company itself promises to provide services to the customers (as a principal) or to arrange for services to be provided by another party (as an agent). Based on the Company’s evaluation using a control model, the Company determined that in all of its major business activities, it serves as a principal rather than an agent within their revenue arrangements. Revenue and the associated purchased transportation costs are both reported on a gross basis within the consolidated statements of income and comprehensive income. Contract costs Contract costs include contract acquisition costs and contract fulfillment costs which are all recorded within prepayments, deposits, and other assets in the consolidated balance sheets. Contract acquisition costs consist of incremental costs incurred by the Company to originate contracts with customers. Contract acquisition costs, which generally include costs that are only incurred as a result of obtaining a contract, are capitalized when the incremental costs are expected to be recovered over the contract period. All other costs incurred regardless of obtaining a contract are expensed as incurred. Contract acquisition costs are amortized over the period the costs are expected to contribute directly or indirectly to future cash flows, which is generally over the contract term, on a basis consistent with the transfer of goods or services to the customer to which the costs relate. Contract fulfillments costs consist of costs incurred by the Company to fulfill a contract with a customer and are capitalized when the costs generate or enhance resources that will be used in satisfying future performance obligations of the contract and the costs are expected to be recovered. Capitalized contract fulfillment costs generally include contracted services, direct labor, materials, and allocable overhead directly related to resources required to fulfill the contract. Contract fulfillment costs are recognized in cost of revenue during the period that the related costs are expected to contribute directly or indirectly to future cash flows, which is generally over the contract term, on a basis consistent with the transfer of goods or services to the customer to which the costs are related. There were no contract acquisition costs and fulfillment costs as of December 31, 2023 and 2022. Contract assets A contract asset is the right to consideration in exchange for goods or services transferred to the customer. If the Company performs by transferring goods or services to a customer before the customer pays consideration or before a payment is due, a contract asset is recognized for the earned consideration that is conditional. Contract assets are subject to impairment assessment. Contract liabilities A contract liability is recognized when a payment is received or a payment is due (whichever is earlier) from a customer before the Company transfers the related services. Contract liabilities are recognized as revenue when the Company performs under the contract. Revenue recognized that was included in contract liabilities at the beginning of the year was approximately $0.8 million, $0.7 million and $2.5 million for the years ended December 31, 2023, 2022 and 2021, respectively. As of December 31, 2023 and 2022, contract liabilities amounted to approximately $1.0 million and $1.1 million, respectively, were included in “accrued expenses and other current liabilities.” Disaggregated information of revenues by services: Years Ended December 31, 2023 2022 2021 Revenues: Transportation $ 383,211 $ 346,039 $ 327,848 Warehouse storage management service 18,160 20,322 16,885 Others 2,750 3,964 1,966 Total revenues $ 404,121 $ 370,325 $ 346,699 As of December 31, 2023 and 2022, the Company had outstanding contracts for providing transportation and warehouse management services amounting to approximately $0.9 million and $1.0 million, all of which is expected to be completed within 12 months from December 31, 2023 and 2022, respectively. The Company’s operations are primarily based in the PRC, where the Company derived a substantial portion of revenues. Disaggregated information of revenues by geographic locations are as follows: Years Ended December 31 2023 2022 2021 Fujian $ 267,393 $ 218,523 $ 197,647 Beijing 29,110 36,958 36,365 Zhejiang 15,448 15,782 11,466 Guangdong 14,130 17,848 22,447 Hubei 12,403 9,283 5,471 Others 65,637 71,931 73,303 Total $ 404,121 $ 370,325 $ 346,699
Government Subsidies	Government Subsidies The Company’s PRC based subsidiaries received government subsidies from certain local governments. The Company’s government subsidies consisted of specific subsidies and other subsidies. Specific subsidies are subsidies that the local government has provided for a specific purpose, such as truck station subsidies. Other subsidies are the subsidies that the local government has not specified its purpose for and are not tied to future trends or performance of the Company; receipt of such subsidy income is not contingent upon any further actions or performance of the Company and the amounts do not have to be refunded under any circumstances. The Company recorded specific subsidies as accrued expenses and other current liabilities when received. For specific subsidies, they are recognized as other income on a straight-line method within the useful life of relevant assets. Other subsidies are recognized as other income which is included in the consolidated statements of income upon receipt as further performance by the Company is not required. The government subsidies were approximately $0.2 million, $0.8 million and $0.6 million for the years ended December 31, 2023, 2022 and 2021, respectively.
Advertising expenses	Advertising expenses Advertising expenditures are expensed as incurred and such expenses were included as part of selling and marketing expenses. For the years ended December 31, 2023, 2022 and 2021, the advertising expenses amounted to approximately $0.1 million, $0.05 million and $0.08 million, respectively.
Employee defined contribution plan	Employee defined contribution plan Full-time employees of the Company in the PRC participate in a government-mandated multi-employer defined contribution plan pursuant to which certain pension benefits, medical care, unemployment insurance, employee housing fund and other welfare benefits are provided to them. Chinese labor regulations require that the Company make contributions to the government for these benefits based on government prescribed percentage of the employee’s salaries. The Company has no legal obligation for the benefits beyond the contributions. The total amount was expensed as incurred. For the years ended December 31, 2023, 2022 and 2021, employee welfare contribution expenses amounted to approximately $2.5 million, $1.3 million and $2.4 million, respectively.
Leases	Leases The Company has elected the package of practical expedients permitted which allows the Company not to reassess the following at adoption date: (i) whether any expired or existing contracts are or contains a lease, (ii) the lease classification for any expired or existing leases, and (iii) initial direct costs for any expired or existing leases (i.e. whether those costs qualify for capitalization under ASU 2016-02). The Company also elected the short-term lease exemption for certain classes of underlying assets including office space, warehouses and equipment, with a lease term of 12 months or less. The Company determines whether an arrangement is or contain a lease at inception. A lease for which substantially all the benefits and risks incidental to ownership remain with the lessor is classified by the lessee as an operating lease. All leases of the Company are currently classified as operating leases. Operating leases are included in operating lease right-of-use (“ROU”) assets, operating lease liability, current, and operating lease liability, non-current in the Company’s consolidated balance sheets. Please refer to Note 13 for the disclosures regarding the Company’s method of adoption of ASC 842 and the impacts of adoption on its financial position, results of operations and cash flows. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent its obligation to make lease payments arising from the lease. The operating lease ROU assets and lease liabilities are recognized at lease commencement date based on the present value of lease payments over the lease term. As most of the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at lease commencement date in determining the present value of lease payments. The operating lease ROU assets also includes any lease payments made and excludes lease incentives. The Company’s lease terms may include options to extend or terminate the lease. Renewal options are considered within the ROU assets and lease liabilities when it is reasonably certain that the Company will exercise that option. Lease expenses for lease payments are recognized on a straight-line basis over the lease term. For operating leases with a term of one year or less, the Company has elected not to recognize a lease liability or ROU asset on its consolidated balance sheet. Instead, it recognizes the lease payments as expenses on a straight-line basis over the lease term. Short-term lease costs are immaterial to its consolidated statements of operations and cash flows. The Company has operating lease agreements with insignificant non-lease components and have elected the practical expedient to combine and account for lease and non-lease components as a single lease component. The Company reviews the impairment of its ROU assets consistent with the approach applied for its other long-lived assets. The Company reviews the recoverability of its long-lived assets when events or changes in circumstances occur that indicate that the carrying value of the asset may not be recoverable. The assessment of possible impairment is based on its ability to recover the carrying value of the asset from the expected undiscounted future pre-tax cash flows of the related operations. The Company has elected to include the carrying amount of operating lease liabilities in any tested asset group and include the associated operating lease payments in the undiscounted future pre-tax cash flows.
Value added tax (“VAT”)	Value added tax (“VAT”) Revenue represents the invoiced value of goods and service, net of VAT. The VAT is based on gross sales price and VAT rates range up to 13%, depending on the type of products sold or services provided. Entities that are VAT general taxpayers are allowed to offset qualified input VAT paid to suppliers against their output VAT liabilities. Net VAT balance between input VAT and output VAT is recorded in taxes payable. All of the VAT returns filed by the Company’s subsidiaries in PRC remain subject to examination by the tax authorities for five years from the date of filing.
Income taxes	Income taxes The Company follows the liability method of accounting for income taxes in accordance with ASC 740 (“ASC 740”), Income Taxes. The Company accounts for current income taxes in accordance with the laws of the relevant tax authorities. Deferred income taxes are recognized when temporary differences exist between the tax bases of assets and liabilities and their reported amounts in the consolidated financial statements. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period including the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. An uncertain tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. Penalties and interest incurred related to underpayment of income tax are classified as income tax expense in the period incurred. No significant penalties or interest relating to income taxes have been incurred during the years ended December 31, 2023, 2022 and 2021. All of the tax returns of the Company’s subsidiaries in PRC remain subject to examination by the tax authorities for five years from the date of filing.
Statutory reserves	Statutory reserves The Company’s PRC subsidiaries and the VIE are required to allocate at least 10% of their after-tax profit to the general reserve in accordance with the PRC accounting standards and regulations. The allocation to the general reserve will cease if such reserve has reached to 50% of the registered capital of respective company. Appropriations to discretionary surplus reserve are at the discretion of the board of directors of the VIE. These reserves can only be used for specific purposes and are not transferable to the Company in form of loans, advances, or cash dividends. There is no such regulation of providing statutory reserve in Hong Kong.
Comprehensive income (loss)	Comprehensive income (loss) Comprehensive income (loss) consists of two components, net income (loss) and other comprehensive income (loss). Other comprehensive income (loss) refers to revenue, expenses, gains and losses that under GAAP are recorded as an element of equity but are excluded from net income. Other comprehensive income (loss) consists of a foreign currency translation adjustment resulting from the Company not using the U.S. dollar as its functional currencies.
Earnings per share	Earnings per share The Company computes earnings per share (“EPS”) in accordance with ASC 260, “Earnings per Share.” ASC 260 requires companies to present basic and diluted EPS. Basic EPS is measured as net income divided by the weighted average common share outstanding for the period. Diluted EPS presents the dilutive effect on a per-share basis of the potential Ordinary Shares (e.g., convertible securities, options and warrants) as if they had been converted at the beginning of the periods presented, or issuance date, if later. Potential Ordinary Shares that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS. The rights, including the liquidation and dividend rights, of the holders of the Company’s Class A and Class B Ordinary Shares are identical, except with respect to voting and conversion rights. Each Class A Ordinary Share is entitled to one vote; and each Class B Ordinary Share is entitled to ten votes and is convertible into one Class A Ordinary Share at any time by the holder thereof. Class A Ordinary Shares are not convertible into Class B Ordinary Shares under any circumstances. As the liquidation and dividend rights are identical, the undistributed earnings are allocated on a proportionate basis. For the years ended December 31, 2023, 2022 and 2021, the net earnings per share amounts are the same for Class A and Class B Ordinary Shares because the holders of each class are entitled to equal per share dividends or distributions in liquidation.
Risks and Concentration	Risks and Concentration a) Interest rate risk Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company’s interest rate risk arises primarily from short-term borrowings. Borrowings issued at variable rates and fixed rates expose the Company to cash flow interest rate risk and fair value interest rate risk respectively. b) Concentration of credit risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash. As of December 31, 2023 and 2022, approximately $29.3 million and $23.4 million were deposited with financial institutions located in the PRC, respectively, where there is a RMB500,000 deposit insurance limit for a legal entity’s aggregated balance at each bank. As a result, the amounts not covered by deposit insurance were approximately $26.4 million and $22.2 million as of December 31, 2023 and 2022, respectively. The Company is also exposed to risk from its accounts receivable and other receivables. These assets are subjected to credit evaluations. An allowance has been made for estimated unrecoverable amounts which have been determined by reference to past default experience and the current economic environment. A majority of the Company’s expense transactions are denominated in RMB and a significant portion of the Company and its subsidiaries’ assets and liabilities are denominated in RMB. RMB is not freely convertible into foreign currencies. In the PRC, certain foreign exchange transactions are required by law to be transacted only by authorized financial institutions at the exchange rates set by the People’s Bank of China (“PBOC”). Remittances in currencies other than RMB by the Company in China must be processed through the PBOC or other China foreign exchange regulatory bodies which require certain supporting documentation in order to process the remittance. Shengfeng WFOE and its subsidiaries, Shengfeng VIE and its subsidiaries (collectively “Shengfeng PRC entities”), the functional currency is the RMB, and the Company’s consolidated financial statements are presented in U.S. dollars. The RMB depreciated by 1.70% in the year ended December 31, 2023. The RMB depreciated by 9.24% in the year ended December 31, 2022. It is difficult to predict how market forces or PRC or U.S. government policy may impact the exchange rate between the RMB and the U.S. dollar in the future. The change in the value of the RMB relative to the U.S. dollar may affect its financial results reported in the U.S. dollar terms without giving effect to any underlying changes in its business or results of operations. Currently, the Company’s assets, liabilities, revenues and costs are denominated in RMB. To the extent that the Company needs to convert U.S. dollars into RMB for capital expenditures and working capital and other business purposes, appreciation of RMB against U.S. dollar would have an adverse effect on the RMB amount the Company would receive from the conversion. Conversely, if the Company decides to convert RMB into U.S. dollar for the purpose of making payments for dividends, strategic acquisition or investments or other business purposes, appreciation of U.S. dollar against RMB would have a negative effect on the U.S. dollar amount available to the Company. c) Concentration of customers and suppliers Substantially all revenue was derived from customers located in China. There are no customers from whom revenue individually represented greater than 10% of the total revenue of the Company in any of the periods presented. For the year ended December 31, 2023, Fujian Jinwang Yuntong Logistics Technology Co., Ltd. contributed approximately 32.7% of total cost of revenues of the Company. For the year ended December 31, 2022, Fujian Jinwang Yuntong Logistics Technology Co., Ltd. contributed approximately 23.5% of total cost of revenues of the Company. For the year ended December 31, 2021, Anhui Luge Transportation Co., Ltd. contributed approximately 27.8% of total cost of revenues of the Company. As of December 31, 2023 and 2022, no customers accounted more than 10% of the account receivables. As of December 31, 2023, Fujian Jinwang Yuntong Logistics Technology Co., Ltd., contributed approximately 13.7% of total account payable balances. As of December 31, 2022, Fujian Jinwang Yuntong Logistics Technology Co., Ltd., contributed approximately 13.4% of total account payable balances. d) VIE risk Under the Contractual Agreements with the consolidated VIE, the Company has the power to direct activities of the consolidated VIE and VIE’s subsidiaries through the Company’s relevant PRC subsidiaries, and can have assets transferred freely out of the consolidated VIE and VIE’s subsidiaries without restrictions. Therefore, the Company considers that there is no asset of the consolidated VIE that can only be used to settle obligations of the respective consolidated VIE, except for the registered capital of the consolidated VIE amounting to approximately $27.2 million as of December 31, 2023 and 2022. Since the consolidated VIE and VIE’s subsidiaries are incorporated as limited liability companies under the PRC Law, creditors of the consolidated VIE and VIE’s subsidiaries do not have recourse to the general credit of the Company. The Company believes that the Company’s relevant PRC subsidiaries’ Contractual Arrangements with the consolidated VIE and the Equity Shareholders are in compliance with PRC laws and regulations, as applicable, and are legally binding and enforceable. However, uncertainties in the PRC legal system could limit the Company’s ability to enforce these Contractual Arrangements. In addition, if the current structure or any of the Contractual Arrangements were found to be in violation of any existing or future PRC law, the Company may be subject to penalties, which may include, but not limited to, cancellation or revocation of the Company’s business and operating licenses and being required to restructure the Company’s operations or terminate the Company’s operating activities. The imposition of any of these or other penalties may result in a material and adverse effect on the Company’s ability to conduct its operations. In such case, the Company may not be able to operate or control the VIE, which may result in deconsolidation of the VIE.
Contingencies	Contingencies From time to time, the Company is a party to various legal actions arising in the ordinary course of business. The Company accrues costs associated with these matters when they become probable and the amount can be reasonably estimated. Legal costs incurred in connection with loss contingencies are expensed as incurred. The Company’s management does not expect any liability from the disposition of such claims and litigation individually or in the aggregate would have a material adverse impact on the Company’s consolidated financial position, results of operations and cash flows.
Related parties	Related parties Parties, which can be a corporation or individual, are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Companies are also considered to be related if they are subject to common control or common significant influence, such as a family member or relative, shareholder, or a related corporation.
Segment reporting	Segment reporting The Company’s chief operating decision-maker (“CODM”) has been identified as its Chief Executive Officer, who reviews the consolidated results when making decisions about allocating resources and assessing the performance of the Company as a whole and hence, the Company has only one reportable segment. The Company does not distinguish between markets or segments for the purpose of internal reporting. The Company’s long-lived assets are all located in the PRC and substantially all of the Company’s revenues are derived from the PRC. Therefore, no geographical segments are presented.
Recent Accounting Pronouncements	Recent Accounting Pronouncements The Company considers the applicability and impact of all accounting standards updates (“ASUs”). Management periodically reviews new accounting standards that are issued. Under the Jumpstart Our Business Startups Act of 2012, as amended (the “JOBS Act”), the Company meets the definition of an emerging growth company, or EGC, and has elected the extended transition period for complying with new or revised accounting standards, which delays the adoption of these accounting standards until they would apply to private companies. In October 2021, the FASB issued ASU No. 2021-08, “‘Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers” (“ASU 2021-08”). This ASU requires entities to apply Topic 606 to recognize and measure contract assets and contract liabilities in a business combination. The amendments improve comparability after the business combination by providing consistent recognition and measurement guidance for revenue contracts with customers acquired in a business combination and revenue contracts with customers not acquired in a business combination. The amendments are effective for the Company beginning after December 15, 2023 and are applied prospectively to business combinations that occur after the effective date. The Company does not expect the adoption of ASU 2021-04 will have a material effect on the consolidated financial statements. In June 2022, the FASB issued ASU 2022-03 Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions. The update clarifies that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. The update also clarifies that an entity cannot, as a separate unit of account, recognize and measure a contractual sale restriction. The update also requires certain additional disclosures for equity securities subject to contractual sale restrictions. For public business entities, the amendments in this Update are effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2024, and interim periods within those fiscal years. Early adoption is permitted for both interim and annual financial statements that have not yet been issued or made available for issuance. As an emerging growth company, the standard is effective for the Company for the year ended December 31, 2025. The Company is in the process of evaluating the impact of the new guidance on its consolidated financial statements. In March 2023, the FASB issued new accounting guidance, ASU 2023-01, for leasehold improvements associated with common control leases, which is effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted for both interim and annual financial statements that have not yet been made available for issuance. The new guidance introduced two issues: terms and conditions to be considered with leases between related parties under common control and accounting for leasehold improvements. The goals for the new issues are to reduce the cost associated with implementing and applying Topic 842 and to promote diversity in practice by entities within the scope when applying lease accounting requirements. In October 2023, the FASB issued ASU 2023-06, Disclosure Improvements — codification amendments in response to SEC’s disclosure Update and Simplification initiative which amend the disclosure or presentation requirements of codification subtopic 230-10 Statement of Cash Flows—Overall, 250-10 Accounting Changes and Error Corrections— Overall, 260-10 Earnings Per Share— Overall, 270-10 Interim Reporting— Overall, 440-10 Commitments—Overall, 470-10 Debt—Overall, 505-10 Equity—Overall, 815-10 Derivatives and Hedging—Overall, 860-30 Transfers and Servicing—Secured Borrowing and Collateral, 932-235 Extractive Activities— Oil and Gas—Notes to Financial Statements, 946-20 Financial Services— Investment Companies— Investment Company Activities, and 974-10 Real Estate—Real Estate Investment Trusts—Overall. The amendments represent changes to clarify or improve disclosure and presentation requirements of above subtopics. Many of the amendments allow users to more easily compare entities subject to the SEC’s existing disclosures with those entities that were not previously subject to the SEC’s requirements. Also, the amendments align the requirements in the Codification with the SEC’s regulations. For entities subject to existing SEC disclosure requirements or those that must provide financial statements to the SEC for securities purposes without contractual transfer restrictions, the effective date aligns with the date when the SEC removes the related disclosure from Regulation S-X or Regulation S-K. Early adoption is not allowed. For all other entities, the amendments will be effective two years later from the date of the SEC’s removal. In December 2023, the FASB issued ASU 2023-09, which is an update to Topic 740, Income Taxes. The amendments in this update related to the rate reconciliation and income taxes paid disclosures improve the transparency of income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. The amendments allow investors to better assess, in their capital allocation decisions, how an entity’s worldwide operations and related tax risks and tax planning and operational opportunities affect its income tax rate and prospects for future cash flows. The other amendments in this Update improve the effectiveness and comparability of disclosures by (1) adding disclosures of pretax income (or loss) and income tax expense (or benefit) to be consistent with U.S. Securities and Exchange Commission (SEC) Regulation S-X 210.4-08(h), Rules of General Application—General Notes to Financial Statements: Income Tax Expense, and (2) removing disclosures that no longer are considered cost beneficial or relevant. For public business entities, the amendments in this Update are effective for annual periods beginning after December 15, 2024. For entities other than public business entities, the amendments are effective for annual periods beginning after December 15, 2025. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. The amendments in this Update should be applied on a prospective basis. Retrospective application is permitted. Except for the above-mentioned pronouncements, there are no new recent issued accounting standards that will have a material impact on the consolidated financial position, statements of operations and cash flows.

Organization and Nature of Op_2

Organization and Nature of Operations (Tables)	12 Months Ended
	Dec. 31, 2023
Organization and Nature of Operations [Abstract]
Schedule of Consolidated Financial Statements	The accompanying consolidated financial statements reflect the activities of the Company and each of the following entities, including its WFOE and VIE: No. Name of subsidiaries Place of Date of Percentage Principal activities 1 Shengfeng Holding Limited (“Shengfeng HK”) Hong Kong August 18, 2020 100 % Investment holding of Tianyu 2 Tianyu Shengfeng Logistics Group Co., Ltd. (“Tianyu”, formerly known as “Fujian Tianyu Shengfeng Logistics Co., Ltd “) Fujian, the PRC December 16, 2020 100 % Investment holding of Shengfeng VIE VIE and VIE’s subsidiaries: 3 Shengfeng Logistics Group Co., Ltd. (“Shengfeng VIE” or “Shengfeng Logistics”) Fujian, the PRC December 7, 2001 100 % Transportation and warehouse storage management service 4 Fuqing Shengfeng Logistics Co., Ltd. Fujian, the PRC April 15, 2011 100 % Transportation and warehouse storage management service 5 Xiamen Shengfeng Logistics Co., Ltd. Fujian, the PRC December 22, 2011 100 % Transportation and warehouse storage management service 6 Guangdong Shengfeng Logistics Co., Ltd. Guangdong, the PRC December 30, 2011 100 % Transportation and warehouse storage management service 7 Hainan Shengfeng Supply Chain Management Co., Ltd. Hainan, the PRC August 18, 2020 100 % Transportation and warehouse storage management service 8 Beijing Tianyushengfeng E-commerce Technology Co., Ltd. Beijing, the PRC January 9, 2004 100 % Transportation and warehouse storage management service 9 Beijing Shengfeng Supply Chain Management Co., Ltd. Beijing, the PRC April 13, 2016 100 % Transportation and warehouse storage management service 10 Shengfeng Logistics (Guizhou) Co., Ltd. Guizhou, the PRC August 15, 2017 100 % Transportation and warehouse storage management service 11 Shengfeng Logistics (Tianjin) Co., Ltd. Tianjin, the PRC March 8, 2016 100 % Transportation and warehouse storage management service 12 Shengfeng Logistics (Shandong) Co., Ltd. Shandong, the PRC March 15, 2016 100 % Transportation and warehouse storage management service 13 Shengfeng Logistics Hebei Co., Ltd. Hebei, the PRC February 17, 2016 100 % Transportation and warehouse storage management service 14 Shengfeng Logistics (Henan) Co., Ltd. Henan, the PRC March 28, 2016 100 % Transportation and warehouse storage management service 15 Shengfeng Logistics (Liaoning) Co., Ltd. Liaoning, the PRC March 2, 2016 100 % Transportation and warehouse storage management service 16 Shengfeng Logistics (Yunnan) Co., Ltd. Yunnan, the PRC January 25, 2016 100 % Transportation and warehouse storage management service 17 Shengfeng Logistics (Guangxi) Co., Ltd. Guangxi, the PRC February 1, 2016 100 % Transportation and warehouse storage management service 18 Hubei Shengfeng Logistics Co., Ltd. Hubei, the PRC December 15, 2010 100 % Transportation and warehouse storage management service 19 Shengfeng Logistics Group (Shanghai) Supply Chain Management Co., Ltd. Shanghai, the PRC August 26, 2015 100 % Transportation and warehouse storage management service 20 Shanghai Shengxu Logistics Co., Ltd. Shanghai, the PRC June 4, 2003 100 % Transportation and warehouse storage management service 21 Hangzhou Shengfeng Logistics Co., Ltd. Zhejiang, the PRC June 10, 2010 100 % Transportation and warehouse storage management service 22 Nanjing Shengfeng Logistics Co., Ltd. Jiangsu, the PRC August 30, 2011 100 % Transportation and warehouse storage management service 23 Suzhou Shengfeng Logistics Co., Ltd. Jiangsu, the PRC January 14, 2005 90 % Transportation and warehouse storage management service 24 Suzhou Shengfeng Supply Chain Management Co., Ltd. Jiangsu, the PRC August 9, 2019 100 % Transportation and warehouse storage management service 25 Shengfeng Supply Chain Management Co., Ltd. Fujian, the PRC June 19, 2014 100 % Transportation and warehouse storage management service 26 Fuzhou Shengfeng Transportation Co., Ltd. Fujian, the PRC April 18, 2019 100 % Transportation and warehouse storage management service 27 Sichuan Shengfeng Logistics Co., Ltd. Sichuan, the PRC June 27, 2019 100 % Transportation and warehouse storage management service No. Name of subsidiaries Place of Date of Percentage Principal activities 28 Fujian Shengfeng Logistics Co., Ltd. Fujian, the PRC April 2, 2020 100 % Transportation and warehouse storage management service 29 Fujian Dafengche Information Technology Co. Ltd. Fujian, the PRC August 26, 2020 100 % Software engineering 30 Ningde Shengfeng Logistics Co. Ltd. (a) Fujian, the PRC November 12, 2018 51 % Transportation and warehouse storage management service 31 Fujian Fengche Logistics Co., Ltd. (b) Fujian, the PRC October 28, 2020 0 % Transportation service 32 Shengfeng Logistics (Zhejiang) Co., Ltd. Zhejiang, the PRC February 1, 2021 100 % Transportation and warehouse storage management service 33 Chengdu Shengfeng Supply Chain Management Co., Ltd. Chengdu, the PRC October 12, 2021 100 % Supply chain management service 34 Shengfeng Logistics Group (Ningde) Supply Chain Management Co., Ltd. Fujian, the PRC September 23, 2022 100 % Supply chain management service 35 Anhui Shengfeng Supply Chain Management Co., Ltd. Anhui, the PRC November 29, 2023 100 % Transportation and warehouse storage management service Significant subsidiaries of Tianyu: 36 Yichun Shengfeng Logistics Co., Ltd. (c) Jiangxi, the PRC December 1, 2022 100 % Transportation and warehouse storage management service 37 Fujian Shengfeng Smart Technology Co., Ltd. (“SF Smart”) (d) Fujian, the PRC April 20, 2023 100 % Property management service 38 Shenzhen Tianyu Shengfeng Supply Chain Management Co., Ltd. (e) Shenzhen, the PRC May 19, 2023 100 % Supply chain management service 39 Fujian Pingtan Tianyu Shengfeng Technology Co., Ltd. (“Pingtan SF”) (f) Fujian, the PRC September 27, 2023 100 % Supply chain management service 40 Hubei Tianyu Shengfeng Logistics Co., Ltd Hubei, the PRC November 14, 2023 100 % Transportation and supply chain management service 41 Wanzai Shengfeng Logistics Co., Ltd Jiangxi, the PRC January 4, 2024 100 % Transportation and supply chain management service (a) On January 5, 2022, Shengfeng Logistics entered into a share transfer agreement with Fuzhou Puhui Technology Co., Ltd. (“Fuzhou Puhui”), an unrelated third party, to transfer its 49% equity interest in Ningde Shengfeng Logistics Co., Ltd. (“Ningde Shengfeng”) to Fuzhou Puhui. After the transaction, the Company owned a 51% equity interest in Ningde Shengfeng. (b) On June 5, 2023, 100% equity interest in Fujian Fengche Logistics Co., Ltd. was transferred to third parties. (c) On May 29, 2023, Yichun Shengfeng Logistics Co., Ltd. became a wholly owned subsidiary of Tianyu. (d) On April 20, 2023, SF Smart was set up in Fujian, China, with 55% of the equity interests owned by Tianyu, and 45% of the equity interests owned by Shengfeng Supply Chain Management Co., Ltd. For the year ended December 31, 2023, Tianyu, entered into an equity purchase agreement to sell its 51% equity interest in Pingtan SF and Pingtan SF’s subsidiary (SF Smart) to a third party. The transaction was completed on March 13, 2024. (e) On May 19, 2023, Shenzhen Tianyu Shengfeng Supply Chain Management Co., Ltd. was set up in Shenzhen, China. This entity is fully owned by Tianyu and will provide supply chain management service in the future. (f) On September 27, 2023, Pingtan SF was set up in Fujian, China, with 51% of the equity interests owned by Tianyu, and 49% of the equity interests owned by Shengfeng Supply Chain Management Co., Ltd. Tianyu further entered into an agreement to sell 51% equity interest of Pingtan SF and Pingtan SF’s subsidiary (SF Smart) to a third party for a consideration of $7.2 million (RMB51.0 million). Tianyu received $2.8 million (RMB20.0 million) as of December 31, 2023 and received the remaining balance subsequently. The transaction was completed on March 13, 2024.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2023
Summary of Significant Accounting Policies [Abstract]
Schedule of Financial Statement Amounts and Balances of the VIE	The following financial statement amounts and balances of the VIE were included in the accompanying audited consolidated financial statements for the years ended December 31, 2023, 2022 and 2021, respectively: As of 2023 2022 Current assets $ 146,894 $ 135,650 Non-current assets 103,055 109,481 Total assets $ 249,949 $ 245,131 Current liabilities $ 127,603 $ 130,196 Non-current liabilities 17,057 19,377 Total liabilities $ 144,660 $ 149,573 Net assets $ 105,289 $ 95,558
Schedule of Consolidated Operations	Years Ended December 31, 2023 2022 2021 Total revenues $ 401,825 $ 370,325 $ 346,699 Cost of revenues $ (355,662 ) $ (328,793 ) $ (305,354 ) Income from operations $ 14,420 $ 10,318 $ 8,587 Net income $ 10,828 $ 8,298 $ 6,644
Schedule of Property and Equipment	Depreciation and amortization are computed using the straight-line method over the following estimated useful lives, taking into account any estimated residual value. Useful Life Building 10-40 years Office equipment 5-10 years Machinery and tools 5 years Vehicles 5-7 years Leasehold improvements Lesser of the lease term or the estimated useful lives of the assets
Schedule of Estimated Useful Lives	The estimated useful lives are as follows: Useful life Land use right 32 - 50 years Licensed software 5 years
Schedule of Disaggregated Information of Revenues	Disaggregated information of revenues by services: Years Ended December 31, 2023 2022 2021 Revenues: Transportation $ 383,211 $ 346,039 $ 327,848 Warehouse storage management service 18,160 20,322 16,885 Others 2,750 3,964 1,966 Total revenues $ 404,121 $ 370,325 $ 346,699
Schedule of Disaggregated Information of Revenues by Geographic Locations	Disaggregated information of revenues by geographic locations are as follows: Years Ended December 31 2023 2022 2021 Fujian $ 267,393 $ 218,523 $ 197,647 Beijing 29,110 36,958 36,365 Zhejiang 15,448 15,782 11,466 Guangdong 14,130 17,848 22,447 Hubei 12,403 9,283 5,471 Others 65,637 71,931 73,303 Total $ 404,121 $ 370,325 $ 346,699

Accounts Receivable, Net (Table

Accounts Receivable, Net (Tables)	12 Months Ended
	Dec. 31, 2023
Accounts Receivable, Net [Abstract]
Schedule of Accounts Receivable, Net	Accounts receivable, net consisted of the following: As of As of Accounts receivable $ 100,967 $ 92,225 Less: Allowance for credit losses for accounts receivable (3,269 ) (3,115 ) Total $ 97,698 $ 89,110
Schedule of Movement of Allowance of Credit Losses for Accounts Receivable	Movement of allowance of credit losses for accounts receivable Year Ended Year Ended Year Ended Beginning balance $ 3,115 $ 2,398 $ 2,537 Provision for credit losses 608 1,130 428 Written-off (401 ) (178 ) (624 ) Exchange rate effect (53 ) (235 ) 57 Ending balance $ 3,269 $ 3,115 $ 2,398

Prepayments and Other Assets,_2

Prepayments and Other Assets, Net (Tables)	12 Months Ended
	Dec. 31, 2023
Prepayments and Other Assets, Net [Abstract]
Schedule of Prepayments and Other Assets, Net	The prepayments and other assets, net consisted of the following: As of As of Deposits (a) $ 13,134 $ 9,149 Prepayments for goods and services 2,973 4,004 VAT recoverable (b) 1,955 3,843 Prepayments for property and equipment (c) 7,539 9,659 Prepayments for intangible assets (d) 17,661 6,130 Advances to employees 58 63 Others 475 538 Prepayments and other assets 43,795 33,386 Less: Allowance for credit losses for prepayments and other assets (405 ) (454 ) Prepayments and other assets, net 43,390 32,932 Less: Prepayments and other current assets, net (14,537 ) (18,292 ) Other non-current assets $ 28,853 $ 14,640 (a) Deposits represent the refundable deposits to the lessors for the leased warehouses and office space. (b) VAT recoverable represents the balances that the Company can utilize to deduct its value-added tax liabilities within the next 12 months. (c) Prepayments for property and equipment represent mainly prepayments for constructions of logistic stations. (d) (i) In January 2022, the Company signed an agreement with Ningde City government to purchase a land use right located at Jinwan Road, Jiaocheng District, Ningde, Fujian Province amounted to approximately $6.1 million (RMB42,690,000) and the prepayment was made to the local government accordingly. The Company obtained certificate of land-use right and the transaction was completed in June 2023. The prepaid balance was transferred from other non-current assets to intangible assets. The term of the land use right is 50 years from 2023 to 2073. (ii) On September 30, 2023, SF Smart and Fujian Yingfu Integrated Circuit Co., Ltd. (“Yingfu”) entered into an agreement, pursuant to which, SF Smart agreed to pay Yingfu approximately $8.4 million (RMB59.7 million) as additional consideration for purchasing the land use right (located at Tongnan Village, Nanyu Town, Minhou County, Fuzhou, Fujian Province, or the “Target land”) (for more details please refer to Note 8). From October 2023 to November 2023, SF Smart fully paid the consideration of approximately $8.4 million (RMB59.7 million) to Yingfu.
Schedule of Movement of Provisions for Prepayments and Other Assets	Movement of allowance for credit losses for prepayments and other assets Year Ended Year Ended Year Ended Beginning balance $ 454 $ 439 $ 591 (Recovery) provisions for credit losses for prepayments and other assets (42 ) 54 - Written-off - - (164 ) Exchange rate effect (7 ) (39 ) 12 Ending balance $ 405 $ 454 $ 439

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	12 Months Ended
	Dec. 31, 2023
Property and Equipment, Net [Abstract]
Schedule of Property and Equipment, Net	Property and equipment, net consisted of the following: As of As of Buildings $ 26,249 $ 24,150 Office equipment 3,181 3,230 Machinery and tools 1,736 1,879 Vehicles 35,338 37,841 Leasehold improvements 5,632 4,964 Constructions in progress 3,255 2,215 Subtotal 75,391 74,279 Less: accumulated depreciation and amortization (34,322 ) (34,014 ) Property and equipment, net $ 41,069 $ 40,265

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	12 Months Ended
	Dec. 31, 2023
Intangible Assets, Net [Abstract]
Schedule of Intangible Assets with Definite Useful Lives Primarily Consisted of Land Use Rights an Licensed Software	The Company’s intangible assets with definite useful lives primarily consisted of land use rights and licensed software. The following table summarizes the components of acquired intangible asset balances. As of As of Land use rights(a) $ 14,086 $ 8,011 Licensed software 2,038 2,133 Subtotal 16,124 10,144 Less: accumulated amortization (3,964 ) (3,433 ) Intangible assets, net $ 12,160 $ 6,711 (a) Details see Note 4 (d)(i).
Schedule of Future Amortization for the Intangible Assets	The future amortization for the intangible assets is expected to be as follows: Twelve months ending December 31, Estimated 2024 $ 613 2025 458 2026 424 2027 397 2028 343 Thereafter 9,925 Total $ 12,160

Long-Term Investments (Tables)

Long-Term Investments (Tables)	12 Months Ended
	Dec. 31, 2023
Long-Term Investments [Abstract]
Schedule of Long-Term Investments	The Company’s long-term investments consisted of the following: As of As of Equity investments accounted for using the equity method $ 1,913 $ 2,040
Schedule of Movement of Equity Method Investment	Movement of equity method investment Year Ended Year Ended Year Ended 2021 Beginning balance $ 2,040 $ 2,142 $ 2,024 Share of income in equity method investee 19 82 70 Dividend received (114 ) - - Exchange rate effect (32 ) (184 ) 48 Ending balance $ 1,913 $ 2,040 $ 2,142

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
Schedule of Related Parties and their Relationships	The table below sets forth the major related parties and their relationships with the Company as of December 31, 2023 and 2022, and for the years ended December 31, 2023, 2022 and 2021: Name of related parties Relationship with the Company Fujian Bafang Shengfeng Logistics Co., Ltd (“Fujian Bafang”) An equity investee of the Company Fuzhou Tianyu Shengfeng Industrial Co., Ltd (“Fuzhou Tianyu”) A company controlled by Yongxu Liu, CEO and Chairman of the Company Fuzhou Tianyu Shengfeng Property Management Co., Ltd (“Fuzhou Tianyu Management”) A company under the control of a shareholder Fuzhou Tianyu Yuanmei Catering Co., Ltd (“Fuzhou Tianyu Catering”) A company under the control of a shareholder Beijing Union Logistics Co., Ltd (“Beijing Banglian”) (1) A company under the control of a shareholder Fujian Desheng Logistics Co., Ltd (“Fujian Desheng”) A company under the control of a shareholder Dongguan Suxing New Material Co., Ltd (“Suxing”) (2) A company under the control of a non-controlling shareholder Hainan Tianyi Logistics Distribution Co., Ltd (“Hainan Tianyi”) (3) An equity investee of the Company Yongteng Liu CEO’s brother Fuzhou Puhui Technology Co., Ltd Non-controlling shareholder of Ningde Shengfeng Logistics Co. Ltd. (1) In January 2022, the Company’s shareholder sold the equity interest in Beijing Banglian. (2) On July 14, 2021, Shengfeng Logistics entered into a share transfer agreement with Dongguan Suxing New Material Co., Ltd (“Dongguan Suxing”), a related party, to transfer its 51% equity interest in Fuzhou Shengfeng New Material Technology Co., Ltd. (“New Material Technology”) to Dongguan Suxing (Note 1). After the transaction, Suxing became a non-related party to the Company. (3) On September 15, 2021, the Company signed a share purchase agreement with a third party. According to such agreement, the Company sold its 5% equity interests in Hainan Tianyi to such third party. After the transaction, Hainan Tianyi became a non-related party to the Company.
Schedule of Transactions with Related Parties	Year ended Year ended Year ended Transportation services to Fujian Bafang $ - $ 18 $ - Transportation services to Fujian Desheng 37 - 349 Total $ 37 $ 18 $ 349 Year ended Year ended Year ended Transportation services from Beijing Banglian $ - $ - $ 2,265 Transportation services from Hainan Tianyi $ - $ - $ 1,207 Transportation services from Fujian Bafang $ 1,108 $ 1,196 $ 157 Purchase raw materials from Suxing $ - $ - $ 577 Lease services from Fuzhou Tianyu $ 228 $ 305 $ 358 Lease services from Fuzhou Tianyu Management $ 17 $ 35 $ - Catering services from Tianyu Catering $ 2 $ - $ -
Schedule of Balances with Related Parties	As of As of Due from related parties Fuzhou Tianyu $ 41 $ 42 Fujian Desheng 40 - Total $ 81 $ 42 As of As of Due to related parties Fujian Bafang (a) $ 1,622 $ 1,694 Fuzhou Tianyu 48 84 Fuzhou Tianyu Management 34 36 Yongteng Liu - 600 Total $ 1,704 $ 2,414 (a) On December 10, 2007, the Company entered into an interest-free loan agreement with Fujian Bafang for a principal amount of approximately $1.4 million (RMB 9.6 million). Such loan is due on demand.

Notes Payables (Tables)

Notes Payables (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Payables [Abstract]
Schedule of Notes Payables	As of As of Bank acceptance notes payable issued by Shanghai Pudong Development Bank Co., Ltd. Fuzhou Branch $ - $ 2,046 Commercial acceptance notes payable guaranteed by China Minsheng Bank Fuzhou Branch 8,471 - Total $ 8,471 $ 2,046 (a) On July 27, 2022 and August 4, 2022, Shanghai Pudong Development Bank Co., Ltd. issued bank acceptance notes payable aggregate of approximately $2.0 million (RMB14.3 million) to the Company with maturity for half year. The Company was required to maintain restricted cash deposits of approximately $0.6 million (RMB4.3 million) in such bank, in order to ensure future credit availability. These notes were fully paid upon maturity and the restricted deposit was also released upon the note repayments. (b) In February 2023, the Company issued commercial acceptance notes payable of approximately $8.5 million (RMB60.0 million) and guaranteed by China Minsheng Bank Fuzhou Branch with a due date on February 6, 2024. The commercial acceptance notes were collateralized by the real estate property valued at approximately $8.0 million and the land use rights for the property located at Dapu village, Honglu street, Fuqing City, Fuzhou City, Fujian Province, PRC, valued at approximately $1.0 million, owned by the Company and were further guaranteed by Yongxu Liu, a shareholder, the CEO and Chairman of the Company, and his brother, Yongteng Liu. These notes were fully paid on January 30, 2024. After repayment these notes, the Company reissued commercial acceptance notes payable of approximately $8.5 million (RMB60.0 million) on January 30, 2024, and these commercial acceptance notes payable were fully paid on March 1, 2024.

Short-Term Bank Loans (Tables)

Short-Term Bank Loans (Tables)	12 Months Ended
	Dec. 31, 2023
Short-Term Bank Loans [Abstract]
Schedule of Short-Term Bank Loans from Commercial Banks	The following table presents short-term bank loans from commercial banks as of December 31, 2023 and 2022: As of As of China Minsheng Bank Fuzhou Branch $ - $ 10,769 Bank of China Fuzhou Jin’an Branch 11,295 11,487 China Merchant Bank Fuzhou Branch 10,589 10,769 Xiamen International Bank Co., Ltd. Fuzhou Branch 7,059 7,179 Haixia Bank of Fujian Fuzhou Jin’an Branch 1,412 1,436 Fujian Fuzhou Rural Commercial Bank Co., Ltd. Yuefeng Branch - 1,436 Shanghai Pudong Development Bank Co., Ltd. Fuzhou Branch 2,118 1,436 Industrial Bank Fuzhou Huqian Sub Branch 847 861 Industrial Bank Fuzhou Branch 1,398 1,421 China Everbright Bank Co., Ltd Fuzhou Tongpan Branch - 861 Haixia Bank of Fujian Fuzhou Minjiang Branch 1,412 - Total $ 36,130 $ 47,655

Accrued Expenses and Other Li_2

Accrued Expenses and Other Liabilities (Tables)	12 Months Ended
	Dec. 31, 2023
Accrued Expenses and Other Liabilities [Abstract]
Schedule of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities consisted of the following: As of As of Rental and freight logistics deposits received $ 4,286 $ 3,498 Payables for long-term assets 1,326 1,360 Government subsidies 1,070 1,467 Contract liabilities 1,040 1,142 Cash collected on behalf of the customers (a) 81 181 Service payables 4 12 Contingent liability 169 258 Consideration deposit received from a third party (b) 2,824 - Advance from third party (b) 7,201 - Others 253 503 Total $ 18,254 $ 8,421 Less: accrued expenses and other current liabilities (16,258 ) (6,551 ) Other non-current liabilities $ 1,996 $ 1,870 (a) The Company collects the goods considerations from the recipients after they deliver the goods to the determined locations on behalf of the customers, and will pay to the customers on a regular basis. (b) On September 26, 2023, the Company entered into a shareholder agreement with a third party. Pursuant to the agreement: (i) the Company will develop the land together with the third party through SF Smart as a project management company. (ii) the third party will obtain 51% equity interest in Pingtan SF for a consideration of approximately $7.2 million (RMB51.0 million). (iii) the third party and the Company will advance approximately $7.2 million (RMB51.0 million) and $6.9 million (RMB49.0 million) to SF Smart, respectively, these advances are due on demand, with interest rate at the loan prime rate for one-year of the People’s Bank of China. As of December 31, 2023, the Company received the advance from this third party in full of approximately $7.2 million (RMB51.0 million) and the consideration deposit of approximately $2.8 million (approximately RMB20.0 million) for the equity interest. Subsequently on January 12, 2024, the Company received the remaining equity consideration approximately $4.4 million (RM31.0 million) from the third party.

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Schedule of Associated Financial Statement	The following tables shows ROU assets and lease liabilities, and the associated financial statement line items: As of As of Assets Operating lease right-of-use assets, net $ 18,020 $ 27,880 Liabilities Operating lease liabilities, current $ 6,315 $ 9,634 Operating lease liabilities, non-current $ 10,899 $ 17,507 Weighted average remaining lease term (in years) 4.67 5.1 Weighted average discount rate (%) 5.84 5.78
Schedule of Operating Lease Activities	Information related to operating lease activities during the years ended December 31, 2023, 2022 and 2021 are as follows: Year ended Year ended Year ended Operating lease right-of-use assets (extinguished) obtained in exchange for lease liabilities $ (1,347 ) $ 9,674 $ 12,247 Operating lease expense Amortization of right-of-use assets 8,096 9,157 7,963 Interest of lease liabilities 1,241 1,656 1,585 Total $ 9,337 $ 10,813 $ 9,548
Schedule of Maturities of Lease Liabilities	Maturities of lease liabilities were as follows: Lease Twelve months ending December 31, 2024 $ 6,524 2025 4,126 2026 2,583 2027 1,913 2028 1,300 Thereafter 3,390 Total lease payments 19,836 Less: imputed interest (2,622 ) Total $ 17,214

Taxes (Tables)

Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Taxes [Abstract]
Schedule of Income (loss) Before Income Taxes	The components of income (loss) before income taxes are as follows: Year ended Year ended Year ended Non-PRC $ (421 ) $ (472 ) $ - PRC 13,049 9,897 8,161 Total $ 12,628 $ 9,425 $ 8,161
Schedule of Income Tax Provision	The components of the income tax provision are as follows: Year ended Year ended Year ended Current $ 796 $ 361 $ 21 Deferred 1,524 1,238 1,496 Total $ 2,320 $ 1,599 $ 1,517
Schedule of Statutory Rates to the Company’s Effective Tax Rate	The following table reconciles the China statutory rates to the Company’s effective tax rate for the years ended December 31, 2023, 2022 and 2021: Year ended Year ended Year ended PRC statutory income tax rate 25.0 % 25.0 % 25.0 % Effect of preferential tax rates (1) (6.2 )% (2.8 )% (3.8 )% Eligible additional deduction (2) (3.5 )% (3.3 )% (3.2 )% Impact of different tax rates in other jurisdictions 0.8 % 1.3 % - % Non-taxable and exemptions (0.3 )% (3.3 )% - % Permanent differences (3) 2.6 % 0.1 % 0.6 % Effective income tax rate 18.4 % 17.0 % 18.6 % (1) Preferential tax rates for small and micro enterprises and high-tech entities. (2) Eligible additional deduction mainly consisted of research and development super deduction and disabled staff super deduction. (3) Permanent differences mainly consisted of non-deductible meal and entertainment fees in PRC tax returns.
Schedule of Financial Accounting Basis and Tax Basis of Assets and Liabilities	The following table summarizes deferred tax assets and liabilities resulting from differences between financial accounting basis and tax basis of assets and liabilities: As of As of Deferred tax assets: Net operating losses carryforward $ 609 $ 2,300 Allowance for credit losses 913 874 Deferred income (a) 267 279 Intangible assets (b) 155 134 Operating lease liabilities 4,303 - Subtotal 6,247 3,587 Less: valuation allowance - - Deferred tax assets $ 6,247 $ 3,587 Deferred tax liabilities: Operating lease right-of-use assets $ 4,254 $ - Deferred tax liabilities $ 4,254 $ - (a) Deferred income represents the assets related government subsidies, which will amortize on a straight-line basis within the useful life of related assets. The tax basis is recognized when the Company received the subsidies. (b) Intangible asset represents the amortization temporary difference of licensed software. Management uses 10 years useful life as the tax basis, which is different from the 5 years useful life in accounting basis.
Schedule of Tax Payable	Tax payable consisted of the following: As of As of Value-added tax payable $ 1,665 $ 1,828 Income tax payable 343 185 Other taxes payable 270 194 Total $ 2,278 $ 2,207

Unaudited Condensed Financial_2

Unaudited Condensed Financial Information of the Parent Company (Tables) - Parent Company [Member]	12 Months Ended
	Dec. 31, 2023
Unaudited Condensed Financial Information of the Parent Company [Line Items]
Schedule of Condensed Balance Sheets	Certain information and footnote disclosures normally included in financial statements prepared in conformity with generally accepted accounting principles have been condensed or omitted. The Company’s investment in subsidiary is stated at cost plus equity in undistributed earnings of subsidiaries. December 31, December 31, 2023 2022 ASSETS Current assets Cash $ 542 $ 47 Prepayments and other current assets 93 - Total Current Assets 635 47 Deferred issuance costs - 81 Investment in subsidiaries and VIEs (restricted) 107,312 91,695 Non-current assets 107,312 91,776 Total Assets $ 107,947 $ 91,823 Liabilities and Equity Current liabilities Due to a related party - 600 Total Current Liabilities - 600 Total liabilities - 600 Commitments and Contingencies Shareholders’ Equity Class A Ordinary share, $0.0001 par value, 400,000,000 shares authorized; 40,617,513 and 38,120,000 shares issued and outstanding as of December 31, 2023 and 2022, respectively. 4 4 Class B Ordinary share, $0.0001 par value, 100,000,000 shares authorized; 41,880,000 shares issued and outstanding as of December 31, 2023 and 2022. 4 4 Additional paid-in capital 83,762 79,549 Retained earnings 31,543 17,275 Accumulated other comprehensive (loss) (7,366 ) (5,609 ) Total Shareholders’ Equity 107,947 91,223 Total Liabilities and Shareholders’ Equity $ 107,947 $ 91,823
Schedule of Condensed Statements of Operations and Comprehensive Income (Loss)	Years Ended December 31, 2023 2022 2021 Equity in earnings of subsidiaries $ 10,715 $ 8,259 $ 6,898 General and administrative expenses (421 ) (472 ) - NET INCOME 10,294 7,787 6,898 OTHER COMPREHENSIVE INCOME (LOSS) Foreign currency translation adjustment (1,757 ) (8,157 ) 2,072 COMPREHENSIVE INCOME (LOSS) $ 8,537 $ (370 ) $ 8,970
Schedule of Condensed Statements of Cash Flow	Years Ended December 31, 2023 2022 2021 Cash flows from operating activities Net income $ 10,294 $ 7,787 $ 6,898 Adjustments to reconcile net income to net cash used in operating activities: Equity income of subsidiaries and VIEs (10,715 ) (8,259 ) (6,898 ) Prepaid expenses and other current assets (92 ) - - Net cash used in operating activities (513 ) (472 ) - Cash flows from investing activities Loan to a subsidiary (6,660 ) - - Net cash used in investing activities (6,660 ) - - Cash flows from financing activities Due to a related party (600 ) 600 - Deferred issuance costs (279 ) (81 ) - Proceeds from initial public offering 8,547 - - Net cash provided by financing activities 7,668 519 - Net increase in cash 495 47 - Cash, beginning of year $ 47 $ - $ - Cash, end of year $ 542 $ 47 $ -

Organization and Nature of Op_3

Organization and Nature of Operations (Details) $ in Thousands, ¥ in Millions				12 Months Ended
	Sep. 27, 2023 USD ($)	Sep. 27, 2023 CNY (¥)	Jan. 07, 2021	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 CNY (¥)	Sep. 26, 2023	Jun. 05, 2023	Apr. 20, 2023	Dec. 31, 2022 USD ($)	Jan. 05, 2022
Organization and Nature of Operations (Details) [Line Items]
Paid-in capital				$ 83,762						$ 75,575
Purchase agreement	51%	51%
Effective service agreement			20 years	20 years	20 years
Percentage of technical service fees				50%	50%
Voting rights proxy agreement			20 years
Fujian Fengche Logistics Co., Ltd [Member]
Organization and Nature of Operations (Details) [Line Items]
Interest transfered								100%
Shengfeng VIE [Member]
Organization and Nature of Operations (Details) [Line Items]
Paid-in capital				$ 27,170		¥ 189.6
Ningde Shengfeng.[Member]
Organization and Nature of Operations (Details) [Line Items]
Equity interest percentage											51%
Tianyu [Member]
Organization and Nature of Operations (Details) [Line Items]
Equity interest percentage									55%
Shengfeng Supply Chain Management Co., Ltd. [Member]
Organization and Nature of Operations (Details) [Line Items]
Equity interest percentage	49%	49%							45%
Fujian Shengfeng Smart Technology Co., Ltd. (“SF Smart”) [Member]
Organization and Nature of Operations (Details) [Line Items]
Equity interest percentage							51%
Pingtan SF [Member]
Organization and Nature of Operations (Details) [Line Items]
Equity interest percentage	51%	51%
Pingtan SF [Member]
Organization and Nature of Operations (Details) [Line Items]
Consideration received	$ 7,200	¥ 51
Tianyu [Member]
Organization and Nature of Operations (Details) [Line Items]
Consideration received				$ 2,800	¥ 20
Ningde Shengfeng Logistics Co., Ltd. [Member]
Organization and Nature of Operations (Details) [Line Items]
Equity interest percentage											49%

Organization and Nature of Op_4

Organization and Nature of Operations (Details) - Schedule of Consolidated Financial Statements	12 Months Ended
	Dec. 31, 2023
Tianyu Shengfeng Logistics Group Co., Ltd. (“Tianyu”, formerly known as “Fujian Tianyu Shengfeng Logistics Co., Ltd “) [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Place of incorporation	Fujian, the PRC
Date of incorporation or acquisition	Dec. 16, 2020
Percentage of direct or indirect	100%
Principal activities	Investment holding of Shengfeng VIE
VIE [Member] | Shengfeng Logistics Group Co., Ltd. (“Shengfeng VIE” or “Shengfeng Logistics”) [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Place of incorporation	Fujian, the PRC
Date of incorporation or acquisition	Dec. 07, 2001
Percentage of direct or indirect	100%
Principal activities	Transportation and warehouse storage management service
VIE [Member] | Fuqing Shengfeng Logistics Co., Ltd. [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Place of incorporation	Fujian, the PRC
Date of incorporation or acquisition	Apr. 15, 2011
Percentage of direct or indirect	100%
Principal activities	Transportation and warehouse storage management service
VIE [Member] | Xiamen Shengfeng Logistics Co., Ltd. [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Place of incorporation	Fujian, the PRC
Date of incorporation or acquisition	Dec. 22, 2011
Percentage of direct or indirect	100%
Principal activities	Transportation and warehouse storage management service
VIE [Member] | Guangdong Shengfeng Logistics Co., Ltd. [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Place of incorporation	Guangdong, the PRC
Date of incorporation or acquisition	Dec. 30, 2011
Percentage of direct or indirect	100%
Principal activities	Transportation and warehouse storage management service
VIE [Member] | Hainan Shengfeng Supply Chain Management Co., Ltd. [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Place of incorporation	Hainan, the PRC
Date of incorporation or acquisition	Aug. 18, 2020
Percentage of direct or indirect	100%
Principal activities	Transportation and warehouse storage management service
VIE [Member] | Beijing Tianyushengfeng E-commerce Technology Co., Ltd. [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Place of incorporation	Beijing, the PRC
Date of incorporation or acquisition	Jan. 09, 2004
Percentage of direct or indirect	100%
Principal activities	Transportation and warehouse storage management service
VIE [Member] | Beijing Shengfeng Supply Chain Management Co., Ltd. [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Place of incorporation	Beijing, the PRC
Date of incorporation or acquisition	Apr. 13, 2016
Percentage of direct or indirect	100%
Principal activities	Transportation and warehouse storage management service
VIE [Member] | Shengfeng Logistics (Guizhou) Co., Ltd. [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Place of incorporation	Guizhou, the PRC
Date of incorporation or acquisition	Aug. 15, 2017
Percentage of direct or indirect	100%
Principal activities	Transportation and warehouse storage management service
VIE [Member] | Shengfeng Logistics (Tianjin) Co., Ltd. [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Place of incorporation	Tianjin, the PRC
Date of incorporation or acquisition	Mar. 08, 2016
Percentage of direct or indirect	100%
Principal activities	Transportation and warehouse storage management service
VIE [Member] | Shengfeng Logistics (Shandong) Co., Ltd. [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Place of incorporation	Shandong, the PRC
Date of incorporation or acquisition	Mar. 15, 2016
Percentage of direct or indirect	100%
Principal activities	Transportation and warehouse storage management service
VIE [Member] | Shengfeng Logistics Hebei Co., Ltd. [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Place of incorporation	Hebei, the PRC
Date of incorporation or acquisition	Feb. 17, 2016
Percentage of direct or indirect	100%
Principal activities	Transportation and warehouse storage management service
VIE [Member] | Shengfeng Logistics (Henan) Co., Ltd. [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Place of incorporation	Henan, the PRC
Date of incorporation or acquisition	Mar. 28, 2016
Percentage of direct or indirect	100%
Principal activities	Transportation and warehouse storage management service
VIE [Member] | Shengfeng Logistics (Liaoning) Co., Ltd. [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Place of incorporation	Liaoning, the PRC
Date of incorporation or acquisition	Mar. 02, 2016
Percentage of direct or indirect	100%
Principal activities	Transportation and warehouse storage management service
VIE [Member] | Shengfeng Logistics (Yunnan) Co., Ltd. [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Place of incorporation	Yunnan, the PRC
Date of incorporation or acquisition	Jan. 25, 2016
Percentage of direct or indirect	100%
Principal activities	Transportation and warehouse storage management service
VIE [Member] | Shengfeng Logistics (Guangxi) Co., Ltd. [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Place of incorporation	Guangxi, the PRC
Date of incorporation or acquisition	Feb. 01, 2016
Percentage of direct or indirect	100%
Principal activities	Transportation and warehouse storage management service
VIE [Member] | Hubei Shengfeng Logistics Co., Ltd. [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Place of incorporation	Hubei, the PRC
Date of incorporation or acquisition	Dec. 15, 2010
Percentage of direct or indirect	100%
Principal activities	Transportation and warehouse storage management service
VIE [Member] | Shengfeng Logistics Group (Shanghai) Supply Chain Management Co., Ltd. [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Place of incorporation	Shanghai, the PRC
Date of incorporation or acquisition	Aug. 26, 2015
Percentage of direct or indirect	100%
Principal activities	Transportation and warehouse storage management service
VIE [Member] | Shanghai Shengxu Logistics Co., Ltd. [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Place of incorporation	Shanghai, the PRC
Date of incorporation or acquisition	Jun. 04, 2003
Percentage of direct or indirect	100%
Principal activities	Transportation and warehouse storage management service
VIE [Member] | Hangzhou Shengfeng Logistics Co., Ltd. [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Place of incorporation	Zhejiang, the PRC
Date of incorporation or acquisition	Jun. 10, 2010
Percentage of direct or indirect	100%
Principal activities	Transportation and warehouse storage management service
VIE [Member] | Nanjing Shengfeng Logistics Co., Ltd. [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Place of incorporation	Jiangsu, the PRC
Date of incorporation or acquisition	Aug. 30, 2011
Percentage of direct or indirect	100%
Principal activities	Transportation and warehouse storage management service
VIE [Member] | Suzhou Shengfeng Logistics Co., Ltd. [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Place of incorporation	Jiangsu, the PRC
Date of incorporation or acquisition	Jan. 14, 2005
Percentage of direct or indirect	90%
Principal activities	Transportation and warehouse storage management service
VIE [Member] | Suzhou Shengfeng Supply Chain Management Co., Ltd. [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Place of incorporation	Jiangsu, the PRC
Date of incorporation or acquisition	Aug. 09, 2019
Percentage of direct or indirect	100%
Principal activities	Transportation and warehouse storage management service
VIE [Member] | Shengfeng Supply Chain Management Co., Ltd. [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Place of incorporation	Fujian, the PRC
Date of incorporation or acquisition	Jun. 19, 2014
Percentage of direct or indirect	100%
Principal activities	Transportation and warehouse storage management service
VIE [Member] | Fuzhou Shengfeng Transportation Co., Ltd. [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Place of incorporation	Fujian, the PRC
Date of incorporation or acquisition	Apr. 18, 2019
Percentage of direct or indirect	100%
Principal activities	Transportation and warehouse storage management service
VIE [Member] | Sichuan Shengfeng Logistics Co., Ltd. [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Place of incorporation	Sichuan, the PRC
Date of incorporation or acquisition	Jun. 27, 2019
Percentage of direct or indirect	100%
Principal activities	Transportation and warehouse storage management service
VIE [Member] | Fujian Shengfeng Logistics Co., Ltd.[Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Place of incorporation	Fujian, the PRC
Date of incorporation or acquisition	Apr. 02, 2020
Percentage of direct or indirect	100%
Principal activities	Transportation and warehouse storage management service
VIE [Member] | Fujian Dafengche Information Technology Co. Ltd. [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Place of incorporation	Fujian, the PRC
Date of incorporation or acquisition	Aug. 26, 2020
Percentage of direct or indirect	100%
Principal activities	Software engineering
VIE [Member] | Ningde Shengfeng Logistics Co. Ltd. [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Place of incorporation	Fujian, the PRC	[1]
Date of incorporation or acquisition	Nov. 12, 2018	[1]
Percentage of direct or indirect	51%	[1]
Principal activities	Transportation and warehouse storage management service	[1]
VIE [Member] | Fujian Fengche Logistics Co., Ltd.(e) [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Place of incorporation	Fujian, the PRC	[2]
Date of incorporation or acquisition	Oct. 28, 2020	[2]
Percentage of direct or indirect	0%	[2]
Principal activities	Transportation service	[2]
VIE [Member] | Shengfeng Logistics (Zhejiang) Co., Ltd [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Place of incorporation	Zhejiang, the PRC
Date of incorporation or acquisition	Feb. 01, 2021
Percentage of direct or indirect	100%
Principal activities	Transportation and warehouse storage management service
VIE [Member] | Chengdu Shengfeng Supply Chain Management Co., Ltd [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Place of incorporation	Chengdu, the PRC
Date of incorporation or acquisition	Oct. 12, 2021
Percentage of direct or indirect	100%
Principal activities	Supply chain management service
VIE [Member] | Shengfeng Logistics Group (Ningde) Supply Chain Management Co., Ltd. [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Place of incorporation	Fujian, the PRC
Date of incorporation or acquisition	Sep. 23, 2022
Percentage of direct or indirect	100%
Principal activities	Supply chain management service
VIE [Member] | Anhui Shengfeng Supply Chain Management Co., Ltd. [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Place of incorporation	Anhui, the PRC
Date of incorporation or acquisition	Nov. 29, 2023
Percentage of direct or indirect	100%
Principal activities	Transportation and warehouse storage management service
VIE [Member] | Yichun Shengfeng Logistics Co., Ltd. [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Place of incorporation	Jiangxi, the PRC	[3]
Date of incorporation or acquisition	Dec. 01, 2022	[3]
Percentage of direct or indirect	100%	[3]
Principal activities	Transportation and warehouse storage management service	[3]
VIE [Member] | Fujian Shengfeng Smart Technology Co., Ltd. (“SF Smart”) [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Place of incorporation	Fujian, the PRC	[4]
Date of incorporation or acquisition	Apr. 20, 2023	[4]
Percentage of direct or indirect	100%	[4]
Principal activities	Property management service	[4]
VIE [Member] | Shenzhen Tianyu Shengfeng Supply Chain Management Co., Ltd. [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Place of incorporation	Shenzhen, the PRC	[5]
Date of incorporation or acquisition	May 19, 2023	[5]
Percentage of direct or indirect	100%	[5]
Principal activities	Supply chain management service	[5]
VIE [Member] | Fujian Pingtan Tianyu Shengfeng Technology Co., Ltd. (“Pingtan SF”) [ Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Place of incorporation	Fujian, the PRC	[6]
Date of incorporation or acquisition	Sep. 27, 2023	[6]
Percentage of direct or indirect	100%	[6]
Principal activities	Supply chain management service	[6]
VIE [Member] | Hubei Tianyu Shengfeng Logistics Co., Ltd [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Place of incorporation	Hubei, the PRC
Date of incorporation or acquisition	Nov. 14, 2023
Percentage of direct or indirect	100%
Principal activities	Transportation and supply chain management service
VIE [Member] | Wanzai Shengfeng Logistics Co., Ltd [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Place of incorporation	Jiangxi, the PRC
Date of incorporation or acquisition	Jan. 04, 2024
Percentage of direct or indirect	100%
Principal activities	Transportation and supply chain management service
[1] On January 5, 2022, Shengfeng Logistics entered into a share transfer agreement with Fuzhou Puhui Technology Co., Ltd. (“Fuzhou Puhui”), an unrelated third party, to transfer its 49% equity interest in Ningde Shengfeng Logistics Co., Ltd. (“Ningde Shengfeng”) to Fuzhou Puhui. After the transaction, the Company owned a 51% equity interest in Ningde Shengfeng. On June 5, 2023, 100% equity interest in Fujian Fengche Logistics Co., Ltd. was transferred to third parties. On May 29, 2023, Yichun Shengfeng Logistics Co., Ltd. became a wholly owned subsidiary of Tianyu. On April 20, 2023, SF Smart was set up in Fujian, China, with 55% of the equity interests owned by Tianyu, and 45% of the equity interests owned by Shengfeng Supply Chain Management Co., Ltd. For the year ended December 31, 2023, Tianyu, entered into an equity purchase agreement to sell its 51% equity interest in Pingtan SF and Pingtan SF’s subsidiary (SF Smart) to a third party. The transaction was completed on March 13, 2024. On September 27, 2023, Pingtan SF was set up in Fujian, China, with 51% of the equity interests owned by Tianyu, and 49% of the equity interests owned by Shengfeng Supply Chain Management Co., Ltd. Tianyu further entered into an agreement to sell 51% equity interest of Pingtan SF and Pingtan SF’s subsidiary (SF Smart) to a third party for a consideration of $7.2 million (RMB51.0 million). Tianyu received $2.8 million (RMB20.0 million) as of December 31, 2023 and received the remaining balance subsequently. The transaction was completed on March 13, 2024.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2023 CNY (¥) shares	Mar. 15, 2023
Summary of Significant Accounting Policies (Details) [Line Items]
Accumulated other comprehensive loss	$ (7,366)	$ (5,609)
Deposit insurance limit (in Yuan Renminbi) | ¥				¥ 500,000
Cash in banks	26,725	21,285
Allowance for doubtful accounts	3,269	3,115
Prepayments and other assets	$ 400	500
Intangible assets are amortized useful life	5 years			5 years
Contract liabilities recognized	$ 800	700	$ 2,500
Contract liabilities	1,000	1,100
Warehouse management services	900	1,000
Government subsidies	200	800	600
Advertising expense	100	50	80
Contribution expenses	$ 2,500	1,300	$ 2,400
Lease term	12 months			12 months
Operating leases term	1 year			1 year
VAT rates	13%			13%
Tax authorities	5 years
Tax benefit rate	50%
VIE least rate	10%
Statutory reserves rate	50%
Deposited amount	$ 29,300	$ 23,400
Percentage depreciated	1.70%	9.24%
Percentage of total revenue		10%	27.80%		25%
Registered of capital	$ 27,200	$ 27,200
Number of reportable segment	1
Minimum [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Intangible assets are amortized useful life	5 years			5 years
Maximum [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Intangible assets are amortized useful life	50 years			50 years
China Financial Stability Department [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Deposit insurance limit (in Yuan Renminbi) | ¥				¥ 500,000
Value added tax (“VAT”) [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Tax authorities	5 years
Fair Value, Concentration of Risk, All Financial Instruments [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Deposit insurance amounts not covered	$ 26,400	$ 22,200
Hubei Luge Logistics Co., Ltd. [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Percentage of total revenue	32.70%			32.70%
Fujian Jinwang Yuntong Logistics Technology Co., Ltd. [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Percentage of total revenue		23.50%
Class A Ordinary Share [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Convertible share (in Shares) | shares	1			1
China, Yuan Renminbi
Summary of Significant Accounting Policies (Details) [Line Items]
Translated rate	7.0467	6.7261	6.4515	7.0467
China, Yuan Renminbi | Equity [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Translated rate	7.0827	6.9646		7.0827
United States of America, Dollars
Summary of Significant Accounting Policies (Details) [Line Items]
Translated rate	1			1
Fujian Jinwang Yuntong Logistics Technology Co., Ltd. [Member] | Accounts Payable [Member] | Customer Concentration Risk [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Concentration risk, percentage	13.70%	13.40%

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - Schedule of Financial Statement Amounts and Balances of the VIE - VIE [Member] - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Variable Interest Entity [Line Items]
Current assets	$ 146,894	$ 135,650
Non-current assets	103,055	109,481
Total assets	249,949	245,131
Current liabilities	127,603	130,196
Non-current liabilities	17,057	19,377
Total liabilities	144,660	149,573
Net assets	$ 105,289	$ 95,558

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details) - Schedule of Consolidated Operations - Variable Interest Entity, Primary Beneficiary [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Consolidated Operations [Line Items]
Total revenues	$ 401,825	$ 370,325	$ 346,699
Cost of revenues	(355,662)	(328,793)	(305,354)
Income from operations	14,420	10,318	8,587
Net income	$ 10,828	$ 8,298	$ 6,644

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Details) - Schedule of Property and Equipment	12 Months Ended
	Dec. 31, 2023
Schedule of Property and Equipment [Line Items]
Leasehold improvements	Lesser of the lease term or the estimated useful lives of the assets
Building [Member] | Minimum [Member]
Schedule of Property and Equipment [Line Items]
Property and equipment, net	10 years
Building [Member] | Maximum [Member]
Schedule of Property and Equipment [Line Items]
Property and equipment, net	40 years
Office Equipment [Member] | Minimum [Member]
Schedule of Property and Equipment [Line Items]
Property and equipment, net	5 years
Office Equipment [Member] | Maximum [Member]
Schedule of Property and Equipment [Line Items]
Property and equipment, net	10 years
Machinery and Tools [Member]
Schedule of Property and Equipment [Line Items]
Property and equipment, net	5 years
Vehicles [Member] | Minimum [Member]
Schedule of Property and Equipment [Line Items]
Property and equipment, net	5 years
Vehicles [Member] | Maximum [Member]
Schedule of Property and Equipment [Line Items]
Property and equipment, net	7 years

Summary of Significant Accoun_7

Summary of Significant Accounting Policies (Details) - Schedule of Estimated Useful Lives	Dec. 31, 2023
Land Use Right [Member] | Minimum [Member]
Schedule of Estimated Useful Lives [Line Items]
Intangible assets, net estimated useful lives	32 years
Land Use Right [Member] | Maximum [Member]
Schedule of Estimated Useful Lives [Line Items]
Intangible assets, net estimated useful lives	50 years
Licensed Software [Member]
Schedule of Estimated Useful Lives [Line Items]
Intangible assets, net estimated useful lives	5 years

Summary of Significant Accoun_8

Summary of Significant Accounting Policies (Details) - Schedule of Disaggregated Information of Revenues - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues:
Total revenues	$ 404,121	$ 370,325	$ 346,699
Transportation [Member]
Revenues:
Total revenues	383,211	346,039	327,848
Warehouse storage management service [Member]
Revenues:
Total revenues	18,160	20,322	16,885
Others [Member]
Revenues:
Total revenues	$ 2,750	$ 3,964	$ 1,966

Summary of Significant Accoun_9

Summary of Significant Accounting Policies (Details) - Schedule of Disaggregated Information of Revenues by Geographic Locations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Disaggregated Information of Revenues by Geographic Locations [Line Items]
Total revenues	$ 404,121	$ 370,325	$ 346,699
Fujian [Member]
Schedule of Disaggregated Information of Revenues by Geographic Locations [Line Items]
Total revenues	267,393	218,523	197,647
Beijing [Member]
Schedule of Disaggregated Information of Revenues by Geographic Locations [Line Items]
Total revenues	29,110	36,958	36,365
Zhejiang [Member]
Schedule of Disaggregated Information of Revenues by Geographic Locations [Line Items]
Total revenues	15,448	15,782	11,466
Guangdong [Member]
Schedule of Disaggregated Information of Revenues by Geographic Locations [Line Items]
Total revenues	14,130	17,848	22,447
Hubei [Member]
Schedule of Disaggregated Information of Revenues by Geographic Locations [Line Items]
Total revenues	12,403	9,283	5,471
Others [Member]
Schedule of Disaggregated Information of Revenues by Geographic Locations [Line Items]
Total revenues	$ 65,637	$ 71,931	$ 73,303

Accounts Receivable, Net (Detai

Accounts Receivable, Net (Details) - Schedule of Accounts Receivable, Net - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Schedule of Accounts Receivable Net [Abstract]
Accounts receivable	$ 100,967	$ 92,225
Less: Allowance for credit losses for accounts receivable	(3,269)	(3,115)
Total	$ 97,698	$ 89,110

Accounts Receivable, Net (Det_2

Accounts Receivable, Net (Details) - Schedule of Movement of Allowance of Credit Losses for Accounts Receivable - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Movement of Allowance of Credit Losses for Accounts Receivable [Abstract]
Beginning balance	$ 3,115	$ 2,398	$ 2,537
Ending balance	3,269	3,115	2,398
Provision for credit losses	608	1,130	428
Written-off	(401)	(178)	(624)
Exchange rate effect	$ (53)	$ (235)	$ 57

Prepayments and Other Assets,_3

Prepayments and Other Assets, Net (Details) $ in Millions

1 Months Ended

2 Months Ended

Jan. 12, 2024 USD ($)

Jan. 12, 2024 CNY (¥)

Dec. 22, 2023 USD ($)

Dec. 22, 2023 CNY (¥)

Sep. 30, 2023 USD ($)

Sep. 30, 2023 CNY (¥)

Jan. 31, 2022 USD ($)

Nov. 30, 2023 USD ($)

Nov. 30, 2023 CNY (¥)

Jan. 09, 2024 USD ($)

Jan. 09, 2024 CNY (¥)

Jan. 31, 2022 CNY (¥)

Prepayments and Other Assets, Net [Line Items]

Purchase of land

$ 6.1

¥ 42,690,000

Right of term

50 years

Government Authority [Member]

Prepayments and Other Assets, Net [Line Items]

Deposit to SF smart

$ 9.2

¥ 65,100,000

Land use right

$ 18.3

¥ 129,500,000

Payments for deposits

$ 9.1

¥ 64,400,000

SF Smart And Fujian Yingfu Integrated Circuit Co., Ltd. [Member]

Prepayments and Other Assets, Net [Line Items]

Compensation payment

$ 8.4

¥ 59,700,000

$ 8.4

¥ 59,700,000

Prepayments and Other Assets,_4

Prepayments and Other Assets, Net (Details) - Schedule of Prepayments and Other Assets, Net $ in Thousands, ¥ in Millions		12 Months Ended
		Dec. 31, 2023 USD ($)		Dec. 31, 2022 USD ($)		Dec. 22, 2023 USD ($)	Dec. 22, 2023 CNY (¥)
Schedule of Prepayments and Other Assets, Net [Abstract]
Deposits		$ 13,134	[1]	$ 9,149	[1]	$ 9,200	¥ 65.1
Prepayments for goods and services		2,973		4,004
VAT recoverable	[2]	1,955		3,843
Prepayments for property and equipment	[3]	7,539		9,659
Prepayments for intangible assets	[4]	17,661		6,130
Advances to employees		58		63
Others		475		538
Prepayments and other assets		43,795		33,386
Less: Allowance for credit losses for prepayments and other assets		(405)		(454)
Prepayments and other assets, net		43,390		32,932
Less: Prepayments and other current assets, net		(14,537)		(18,292)
Other non-current assets		$ 28,853		$ 14,640
[1]Deposits represent the refundable deposits to the lessors for the leased warehouses and office space.[2]VAT recoverable represents the balances that the Company can utilize to deduct its value-added tax liabilities within the next 12 months.[3]Prepayments for property and equipment represent mainly prepayments for constructions of logistic stations.[4] (i) In January 2022, the Company signed an agreement with Ningde City government to purchase a land use right located at Jinwan Road, Jiaocheng District, Ningde, Fujian Province amounted to approximately $6.1 million (RMB42,690,000) and the prepayment was made to the local government accordingly. The Company obtained certificate of land-use right and the transaction was completed in June 2023. The prepaid balance was transferred from other non-current assets to intangible assets. The term of the land use right is 50 years from 2023 to 2073. (ii) On September 30, 2023, SF Smart and Fujian Yingfu Integrated Circuit Co., Ltd. (“Yingfu”) entered into an agreement, pursuant to which, SF Smart agreed to pay Yingfu approximately $8.4 million (RMB59.7 million) as additional consideration for purchasing the land use right (located at Tongnan Village, Nanyu Town, Minhou County, Fuzhou, Fujian Province, or the “Target land”) (for more details please refer to Note 8). From October 2023 to November 2023, SF Smart fully paid the consideration of approximately $8.4 million (RMB59.7 million) to Yingfu.

Prepayments and Other Assets,_5

Prepayments and Other Assets, Net (Details) - Schedule of Movement of Provisions for Prepayments and Other Assets - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Movement of Provisions for Prepayments and Other Assets [Abstract]
Beginning balance	$ 454	$ 439	$ 591
(Recovery) provisions for credit losses for prepayments and other assets	(42)	54
Written-off			(164)
Exchange rate effect	(7)	(39)	12
Ending balance	$ 405	$ 454	$ 439

Property and Equipment, Net (De

Property and Equipment, Net (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property and equipment net book value	$ 17.6	$ 18.1
Depreciation and amortization expenses	6.4	7	$ 5.9
Depreciation and amortization included in cost of revenue	5.8	6.1	4.9
General and administrative expenses	$ 0.7	$ 0.9	$ 1

Property and Equipment, Net (_2

Property and Equipment, Net (Details) - Schedule of Property and Equipment, Net - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 75,391	$ 74,279
Less: accumulated depreciation and amortization	(34,322)	(34,014)
Property and equipment, net	41,069	40,265
Buildings [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	26,249	24,150
Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	3,181	3,230
Machinery and tools [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,736	1,879
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	35,338	37,841
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	5,632	4,964
Constructions in progress [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 3,255	$ 2,215

Intangible Assets, Net (Details

Intangible Assets, Net (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Intangible assets, net [Abstract]
Land use-right with net book value	$ 8.6	$ 2.6
Amortization expenses	$ 0.6	$ 0.5	$ 0.5

Intangible Assets, Net (Detai_2

Intangible Assets, Net (Details) - Schedule of Intangible Assets with Definite Useful Lives Primarily Consisted of Land Use Rights an Licensed Software - USD ($) $ in Thousands		Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Subtotal		$ 16,124	$ 10,144
Less: accumulated amortization		(3,964)	(3,433)
Intangible assets, net		12,160	6,711
Land use rights [Member]
Finite-Lived Intangible Assets [Line Items]
Subtotal	[1]	14,086	8,011
Licensed software [Member]
Finite-Lived Intangible Assets [Line Items]
Subtotal		$ 2,038	$ 2,133
[1]Details see Note 4 (d)(i).

Intangible Assets, Net (Detai_3

Intangible Assets, Net (Details) - Schedule of Future Amortization for the Intangible Assets $ in Thousands	Dec. 31, 2023 USD ($)
Schedule of Future Amortization for the Intangible Assets [Abstract]
2024	$ 613
2025	458
2026	424
2027	397
2028	343
Thereafter	9,925
Total	$ 12,160

Long-Term Investments (Details)

Long-Term Investments (Details) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CNY (¥)
2007 Plan [Member] | Fujian Bafang [Member]
Long-Term Investments (Details) [Line Items]
Equity interest rate	40%	40%
Fujian Bafang [Member] | 2007 Plan [Member]
Long-Term Investments (Details) [Line Items]
Equity Method Investment, cash consideration | $	$ 1.7
Fujian Bafang [Member] | 2011 Plan [Member]
Long-Term Investments (Details) [Line Items]
Equity Method Investment, cash consideration | ¥		¥ 12

Long-Term Investments (Detail_2

Long-Term Investments (Details) - Schedule of Long-Term Investments - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Schedule of Long-Term Investments [Abstract]
Equity investments accounted for using the equity method	$ 1,913	$ 2,040

Long-Term Investments (Detail_3

Long-Term Investments (Details) - Schedule of Movement of Equity Method Investment - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Movement of Equity Method Investment [Abstract]
Beginning balance	$ 2,040	$ 2,142	$ 2,024
Ending balance	1,913	2,040	2,142
Share of income in equity method investee	19	82	70
Dividend received	(114)
Exchange rate effect	$ (32)	$ (184)	$ 48

Deposit for Investment (Details

Deposit for Investment (Details) ¥ in Thousands, $ in Thousands

1 Months Ended

12 Months Ended

Jan. 12, 2024 USD ($)

Jan. 12, 2024 CNY (¥)

Dec. 15, 2023

Feb. 15, 2023 USD ($)

Feb. 15, 2023 CNY (¥)

Dec. 15, 2022

Dec. 15, 2021

Dec. 31, 2020 USD ($)

Dec. 31, 2020 CNY (¥)

Jun. 30, 2020

Dec. 31, 2023 USD ($)

Dec. 31, 2023 CNY (¥)

Dec. 31, 2022 USD ($)

Dec. 31, 2021 USD ($)

Dec. 31, 2020 USD ($)

Dec. 31, 2020 CNY (¥)

Feb. 07, 2024 USD ($)

Feb. 07, 2024 CNY (¥)

Jan. 09, 2024 USD ($)

Jan. 09, 2024 CNY (¥)

Dec. 31, 2023 CNY (¥)

Dec. 22, 2023 USD ($)

Dec. 22, 2023 CNY (¥)

Nov. 30, 2023 USD ($)

Nov. 30, 2023 CNY (¥)

Sep. 30, 2023 USD ($)

Sep. 30, 2023 CNY (¥)

Dec. 23, 2022 USD ($)

Dec. 23, 2022 CNY (¥)

Jan. 30, 2022 USD ($)

Jan. 30, 2022 CNY (¥)

Jan. 19, 2022 USD ($)

Jan. 19, 2022 CNY (¥)

Dec. 31, 2020 CNY (¥)

Aug. 16, 2019

Deposit for Investment (Details) [Line Items]

Total consideration

$ 28,700

¥ 200,000

Company paid

14,300

100,000

Deposit received interest

6%

8%

8%

8%

Initial payment

$ 8,600

¥ 60,000

Breakage fee

$ 3,100

¥ 20,000

Interest payment

$ 1,200

$ 1,200

$ 1,200

¥ 8,000

$ 1,200

¥ 8,000

¥ 8,360

Received interest

$ 1,200

¥ 8,000

Interest received

126

$ 1,274

$ 1,330

Deposit of target land

13,134

[1]

$ 9,149

[1]

$ 9,200

¥ 65,100

Huasheng Group Limited [Member]

Deposit for Investment (Details) [Line Items]

Equity interests rate

100%

Subsequent Event [Member]

Deposit for Investment (Details) [Line Items]

Total consideration for land

$ 18,300

¥ 129,500

Payment for land

$ 9,100

¥ 64,400

Huasheng [Member]

Deposit for Investment (Details) [Line Items]

Deposit amount

14,300

¥ 100,000

Huasheng [Member]

Deposit for Investment (Details) [Line Items]

Company paid

$ 8,600

¥ 60,000

Yingfu [Member]

Deposit for Investment (Details) [Line Items]

Interest received

$ 1,200

¥ 8,000

Refund of deposit

$ 5,600

¥ 40,000

$ 14,100

¥ 100,000

Yingfu [Member] | Forecast [Member]

Deposit for Investment (Details) [Line Items]

Refund of deposit

$ 6,800

¥ 48,500

[1]Deposits represent the refundable deposits to the lessors for the leased warehouses and office space.

Related Party Transactions (Det

Related Party Transactions (Details) ¥ in Millions, $ in Millions	Dec. 10, 2007 USD ($)	Dec. 10, 2007 CNY (¥)	Sep. 15, 2021	Jul. 14, 2021
Related Party Transaction [Line Items]
Principal amount	$ 1.4	¥ 9.6
Fuzhou Shengfeng New Material Technology Co., Ltd. [Member]
Related Party Transaction [Line Items]
Equity interests percentage				51%
Hainan Tianyi [Member]
Related Party Transaction [Line Items]
Equity interests percentage			5%

Related Party Transactions (D_2

Related Party Transactions (Details) - Schedule of Related Parties and their Relationships	12 Months Ended
	Dec. 31, 2021
Fujian Bafang Shengfeng Logistics Co., Ltd (“Fujian Bafang”) [Member]
Related Party Transactions (Details) - Schedule of Related Parties and their Relationships [Line Items]
Related parties relationship	An equity investee of the Company
Fuzhou Tianyu Shengfeng Industrial Co., Ltd (“Fuzhou Tianyu”) [Member]
Related Party Transactions (Details) - Schedule of Related Parties and their Relationships [Line Items]
Related parties relationship	A company controlled by Yongxu Liu, CEO and Chairman of the Company
Fuzhou Tianyu Shengfeng Property Management Co., Ltd (“Fuzhou Tianyu Management”) [Member]
Related Party Transactions (Details) - Schedule of Related Parties and their Relationships [Line Items]
Related parties relationship	A company under the control of a shareholder
Fuzhou Tianyu Yuanmei Catering Co., Ltd (“Fuzhou Tianyu Catering”) [Member]
Related Party Transactions (Details) - Schedule of Related Parties and their Relationships [Line Items]
Related parties relationship	A company under the control of a shareholder
Beijing Union Logistics Co., Ltd (“Beijing Banglian”) [Member]
Related Party Transactions (Details) - Schedule of Related Parties and their Relationships [Line Items]
Related parties relationship	A company under the control of a shareholder	[1]
Fujian Desheng Logistics Co., Ltd (“Fujian Desheng”) [Member]
Related Party Transactions (Details) - Schedule of Related Parties and their Relationships [Line Items]
Related parties relationship	A company under the control of a shareholder
Dongguan Suxing New Material Co., Ltd (“Suxing”) [Member]
Related Party Transactions (Details) - Schedule of Related Parties and their Relationships [Line Items]
Related parties relationship	A company under the control of a non-controlling shareholder	[2]
Hainan Tianyi Logistics Distribution Co., Ltd (“Hainan Tianyi”) [Member]
Related Party Transactions (Details) - Schedule of Related Parties and their Relationships [Line Items]
Related parties relationship	An equity investee of the Company	[3]
Yongteng Liu [Member]
Related Party Transactions (Details) - Schedule of Related Parties and their Relationships [Line Items]
Related parties relationship	CEO’s brother
Fuzhou Puhui Technology Co., Ltd [Member]
Related Party Transactions (Details) - Schedule of Related Parties and their Relationships [Line Items]
Related parties relationship	Non-controlling shareholder of Ningde Shengfeng Logistics Co. Ltd.
[1] In January 2022, the Company’s shareholder sold the equity interest in Beijing Banglian. On July 14, 2021, Shengfeng Logistics entered into a share transfer agreement with Dongguan Suxing New Material Co., Ltd (“Dongguan Suxing”), a related party, to transfer its 51% equity interest in Fuzhou Shengfeng New Material Technology Co., Ltd. (“New Material Technology”) to Dongguan Suxing (Note 1). After the transaction, Suxing became a non-related party to the Company. On September 15, 2021, the Company signed a share purchase agreement with a third party. According to such agreement, the Company sold its 5% equity interests in Hainan Tianyi to such third party. After the transaction, Hainan Tianyi became a non-related party to the Company.

Related Party Transactions (D_3

Related Party Transactions (Details) - Schedule of Transactions with Related Parties - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Transactions with Related Parties	$ 37	$ 18	$ 349
Transportation services to Fujian Bafang [Member]
Related Party Transaction [Line Items]
Transactions with Related Parties		18
Transportation services to Fujian Desheng [Member]
Related Party Transaction [Line Items]
Transactions with Related Parties	37		349
Transportation services from Beijing Banglian [Member]
Related Party Transaction [Line Items]
Transactions with Related Parties			2,265
Transportation services from Hainan Tianyi [Member]
Related Party Transaction [Line Items]
Transactions with Related Parties			1,207
Transportation services from Fujian Bafang [Member]
Related Party Transaction [Line Items]
Transactions with Related Parties	1,108	1,196	157
Purchase raw materials from Suxing [Member]
Related Party Transaction [Line Items]
Transactions with Related Parties			577
Lease services from Fuzhou Tianyu [Member]
Related Party Transaction [Line Items]
Transactions with Related Parties	228	305	358
Lease services from Fuzhou Tianyu Management [Member]
Related Party Transaction [Line Items]
Transactions with Related Parties	17	35
Catering services from Tianyu Catering [Member]
Related Party Transaction [Line Items]
Transactions with Related Parties	$ 2

Related Party Transactions (D_4

Related Party Transactions (Details) - Schedule of Balances with Related Parties - USD ($) $ in Thousands		Dec. 31, 2023	Dec. 31, 2022
Fuzhou Tianyu [Member]
Related Party Transactions (Details) - Schedule of Balances with Related Parties [Line Items]
Total due from related parties		$ 41	$ 42
Total due to related parties		48	84
Fujian Desheng [Member]
Related Party Transactions (Details) - Schedule of Balances with Related Parties [Line Items]
Total due from related parties		40
Related Party [Member]
Related Party Transactions (Details) - Schedule of Balances with Related Parties [Line Items]
Total due from related parties		81	42
Total due to related parties		1,704	2,414
Fujian Bafang [Member]
Related Party Transactions (Details) - Schedule of Balances with Related Parties [Line Items]
Total due to related parties	[1]	1,622	1,694
Fuzhou Tianyu Management [Member]
Related Party Transactions (Details) - Schedule of Balances with Related Parties [Line Items]
Total due to related parties		34	36
Yongteng Liu [Member]
Related Party Transactions (Details) - Schedule of Balances with Related Parties [Line Items]
Total due to related parties			$ 600
[1] On December 10, 2007, the Company entered into an interest-free loan agreement with Fujian Bafang for a principal amount of approximately $1.4 million (RMB 9.6 million). Such loan is due on demand.

Notes Payables (Details)

Notes Payables (Details) ¥ in Millions, $ in Millions	Mar. 13, 2024 USD ($)	Mar. 13, 2024 CNY (¥)	Jan. 30, 2024 USD ($)	Jan. 30, 2024 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CNY (¥)	Feb. 28, 2023 USD ($)	Feb. 28, 2023 CNY (¥)
Notes Payable [Line Items]
Notes payable					$ 2	¥ 14.3
Restricted cash deposits					0.6	¥ 4.3
Commercial acceptance notes payable	$ 10.6	¥ 75					$ 8.5	¥ 60
Real estate property					8
Subsequent Event [Member]
Notes Payable [Line Items]
Commercial acceptance notes payable			$ 8.5	¥ 60
Land use rights [Member]
Notes Payable [Line Items]
Real estate property					$ 1

Notes Payables (Details) - Sche

Notes Payables (Details) - Schedule of Notes Payables - USD ($) $ in Thousands		Dec. 31, 2023	Dec. 31, 2022
Schedule of Notes Payables [Line Items]
Total		$ 8,471	$ 2,046
Bank acceptance notes payable issued by Shanghai Pudong Development Bank Co., Ltd. Fuzhou Branch [Member]
Schedule of Notes Payables [Line Items]
Total	[1]		2,046
Commercial acceptance notes payable guaranteed by China Minsheng Bank Fuzhou Branch [Member]
Schedule of Notes Payables [Line Items]
Total	[2]	$ 8,471
[1] On July 27, 2022 and August 4, 2022, Shanghai Pudong Development Bank Co., Ltd. issued bank acceptance notes payable aggregate of approximately $2.0 million (RMB14.3 million) to the Company with maturity for half year. The Company was required to maintain restricted cash deposits of approximately $0.6 million (RMB4.3 million) in such bank, in order to ensure future credit availability. These notes were fully paid upon maturity and the restricted deposit was also released upon the note repayments.

Short-Term Bank Loans (Details)

Short-Term Bank Loans (Details) - Part 1 $ in Thousands																																											1 Months Ended								12 Months Ended
	Jun. 21, 2023 USD ($)	Jun. 21, 2023 CNY (¥)	Jun. 19, 2023 USD ($)	Jun. 19, 2023 CNY (¥)	Jun. 13, 2023 USD ($)	Jun. 13, 2023 CNY (¥)	Jun. 09, 2023 USD ($)	Jun. 09, 2023 CNY (¥)	Jun. 05, 2023 USD ($)	Jun. 05, 2023 CNY (¥)	May 09, 2023 USD ($)	May 09, 2023 CNY (¥)	May 04, 2023 USD ($)	May 04, 2023 CNY (¥)	Apr. 24, 2023 USD ($)	Apr. 24, 2023 CNY (¥)	Apr. 15, 2023 USD ($)	Apr. 15, 2023 CNY (¥)	Mar. 21, 2023 USD ($)	Mar. 21, 2023 CNY (¥)	Mar. 15, 2023 USD ($)	Mar. 15, 2023 CNY (¥)	Feb. 17, 2023 USD ($)	Feb. 17, 2023 CNY (¥)	Jul. 18, 2022 USD ($)	Jul. 18, 2022 CNY (¥)	Jul. 14, 2022 USD ($)	Jul. 14, 2022 CNY (¥)	Jul. 14, 2022 USD ($)	Jul. 14, 2022 CNY (¥)	Jul. 07, 2022 USD ($)	Jul. 07, 2022 CNY (¥)	Jul. 07, 2022 USD ($)	Jul. 07, 2022 CNY (¥)	Jun. 15, 2022 USD ($)	Jun. 15, 2022 CNY (¥)	Jun. 13, 2022 USD ($)	Jun. 13, 2022 CNY (¥)	Jun. 07, 2022 USD ($)	Jun. 07, 2022 CNY (¥)	May 18, 2022 USD ($)	May 18, 2022 CNY (¥)	Jun. 23, 2022 USD ($)	Jun. 23, 2022 CNY (¥)	May 26, 2022 USD ($)	May 26, 2022 CNY (¥)	Mar. 21, 2022 USD ($)	Mar. 21, 2022 CNY (¥)	Jun. 28, 2021 USD ($)	Jun. 28, 2021 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 CNY (¥)	Dec. 27, 2023 USD ($)	Dec. 27, 2023 CNY (¥)	Dec. 26, 2023 USD ($)	Dec. 26, 2023 CNY (¥)	Dec. 25, 2023	Dec. 07, 2023 USD ($)	Dec. 07, 2023 CNY (¥)	Nov. 20, 2023	Sep. 27, 2023 USD ($)	Sep. 27, 2023 CNY (¥)	Sep. 12, 2023 USD ($)	Sep. 12, 2023 CNY (¥)	Jun. 20, 2023 USD ($)	Jun. 20, 2023 CNY (¥)	Jun. 15, 2023	Jun. 09, 2023 CNY (¥)	May 05, 2023 USD ($)	May 05, 2023 CNY (¥)	Apr. 17, 2023 USD ($)	Apr. 17, 2023 CNY (¥)	Apr. 07, 2023 USD ($)	Apr. 07, 2023 CNY (¥)	Mar. 15, 2023 CNY (¥)	Feb. 17, 2023 CNY (¥)	Jan. 09, 2023	Dec. 31, 2022 USD ($)	Nov. 09, 2022 CNY (¥)	Sep. 19, 2022 USD ($)	Jun. 30, 2022	May 31, 2022	Dec. 31, 2021	Oct. 27, 2021 USD ($)	Oct. 27, 2021 CNY (¥)	Sep. 22, 2021 USD ($)	Sep. 22, 2021 CNY (¥)	Sep. 17, 2021	Sep. 10, 2021 USD ($)	Sep. 10, 2021 CNY (¥)	Aug. 10, 2021 USD ($)	Aug. 10, 2021 CNY (¥)	Jul. 21, 2021 USD ($)	Jul. 21, 2021 CNY (¥)	Jul. 14, 2021 USD ($)	Jul. 14, 2021 CNY (¥)	Jun. 28, 2021 CNY (¥)	Jun. 03, 2021 USD ($)	Jun. 03, 2021 CNY (¥)	Mar. 26, 2021 USD ($)	Mar. 26, 2021 CNY (¥)
Short-Term Bank Loans (Details) - Part 1 [Line Items]
Short term loan																																																			$ 36,130		¥ 10,000,000	$ 700	¥ 5,000,000				$ 22,600	¥ 160,000,000																			$ 47,655
Weighted average interest rate																																																			3.94%		3.94%																										4.48%
Short-term loan facility amount																																																			$ 1,400		¥ 10,000,000
Fixed interest rate																					2.50%				4%	4%	4%	4%	4%	4%	4%	4%	4%	4%															4.35%							3.90%	3.90%	3.80%			3.90%											5.50%	5.50%			2.50%		4.10%							3.90%	3.90%			3.70%									4.35%	3.35%	3.35%	3.70%	3.70%
Land use rights for property									$ 800	¥ 5,900,000																																									1,000
Loan amount																																																	$ 12,300		$ 5,800		37,000,000																																													¥ 80,000,000
Maturity date																																																			Sep. 10, 2022	Sep. 10, 2022
Repayment of loan	$ 1,400	¥ 10,000,000	$ 3,600	¥ 25,000,000	$ 1,600	¥ 11,000,000	$ 2,800	¥ 19,000,000			$ 100	¥ 1,000,000	$ 2,300	¥ 16,000,000	$ 100	¥ 1,000,000	$ 2,900	¥ 20,000,000	$ 1,900	¥ 13,000,000			$ 10,800	¥ 75,000,000	$ 3,140	¥ 20,000,000	$ 2,820	¥ 18,000,000			$ 5,800	¥ 37,000,000			$ 3,000	¥ 20,000,000			$ 4,600	¥ 30,000,000	$ 2,600	¥ 17,000,000
Additional loan																									$ 2,900	¥ 20,000,000			$ 2,600	¥ 18,000,000			$ 5,300	¥ 37,000,000			$ 4,300	¥ 30,000,000					$ 2,900	¥ 20,000,000	$ 2,400	¥ 17,000,000
Note payable amount																							$ 8,500																																																						¥ 60,000,000
Real estate amount																					$ 8,100																												9,800
Financing exposure balance																																																	$ 61,300	¥ 400,000,000
Annual revenue percentage																																																	25%	25%
Securities available for sale																																																	$ 7,700																																																	¥ 50,000,000
Drew down loan amounts			$ 1,800				$ 2,800																																																	$ 1,400	¥ 10,000,000					$ 1,400	¥ 10,000,000	$ 1,400	¥ 10,000,000	$ 4,200	¥ 30,000,000		¥ 20,000,000	$ 2,400	¥ 17,000,000	$ 2,800	¥ 20,000,000	$ 1,800	¥ 13,000,000					¥ 9,900,000	$ 3,600				$ 2,800	¥ 20,000,000						$ 4,600	¥ 30,000,000	$ 3,100	¥ 20,000,000	$ 2,600	¥ 17,000,000		$ 900	¥ 6,000,000	$ 800	¥ 6,000,000
Amount obtained under credit line																																															$ 1,900	¥ 13,000,000			$ 1,400	¥ 9,900,000
Interest rate of loan			4%																																																											4%	4%	3.70%	3.70%			4%												4.20%
Short-term loan facility																					11,300	¥ 80,000,000
Financial exposure balance																					$ 56,500																																																							¥ 400,000,000
Annual revenue percentage																					25%																																																							25%			10%					27.80%
Minimum [Member]
Short-Term Bank Loans (Details) - Part 1 [Line Items]
Interest rate of loan																																																																																			4%
Current ratio																					0.85																																																							0.85
Maximum [Member]
Short-Term Bank Loans (Details) - Part 1 [Line Items]
Interest rate of loan																																																																																		2.50%
Bank of China Fuzhou Jin’an Branch [Member]
Short-Term Bank Loans (Details) - Part 1 [Line Items]
Short-term loan facility amount																																																			11,300		80,000,000
Repayment of loan			$ 2,800	¥ 19,000,000
China Minsheng Bank Fuzhou Branch [Member]
Short-Term Bank Loans (Details) - Part 1 [Line Items]
Short term loan																																																			8,400
Short-term loan facility amount																																																																																							$ 5,960	¥ 38,000,000		$ 5,800	¥ 37,000,000
Fixed interest rate																																																																																							4.35%	4.35%		4.35%	4.35%
Loan amount																																																			$ 5,960		¥ 38,000,000
Maturity date																																																			Sep. 22, 2022	Sep. 22, 2022

Short-Term Bank Loans (Detail_2

Short-Term Bank Loans (Details) - Part 2 $ in Thousands, ¥ in Millions																																																																			1 Months Ended			12 Months Ended
	Nov. 20, 2023 USD ($)	Nov. 20, 2023 CNY (¥)	Jul. 07, 2023 USD ($)	Jul. 07, 2023 CNY (¥)	Jun. 21, 2023 USD ($)	Jun. 21, 2023 CNY (¥)	Jun. 19, 2023 USD ($)	Jun. 19, 2023 CNY (¥)	Jun. 13, 2023 USD ($)	Jun. 13, 2023 CNY (¥)	Jun. 09, 2023 USD ($)	Jun. 09, 2023 CNY (¥)	Jun. 05, 2023 USD ($)	Jun. 05, 2023 CNY (¥)	May 09, 2023 USD ($)	May 09, 2023 CNY (¥)	May 04, 2023 USD ($)	May 04, 2023 CNY (¥)	Apr. 24, 2023 USD ($)	Apr. 24, 2023 CNY (¥)	Apr. 15, 2023 USD ($)	Apr. 15, 2023 CNY (¥)	Mar. 21, 2023 USD ($)	Mar. 21, 2023 CNY (¥)	Mar. 15, 2023 USD ($)	Mar. 15, 2023 CNY (¥)	Feb. 17, 2023 USD ($)	Feb. 17, 2023 CNY (¥)	Dec. 21, 2022 USD ($)	Dec. 21, 2022 CNY (¥)	Dec. 16, 2022 USD ($)	Dec. 16, 2022 CNY (¥)	Dec. 15, 2022 USD ($)	Dec. 15, 2022 CNY (¥)	Jul. 18, 2022 USD ($)	Jul. 18, 2022 CNY (¥)	Jul. 14, 2022 USD ($)	Jul. 14, 2022 CNY (¥)	Jul. 07, 2022 USD ($)	Jul. 07, 2022 CNY (¥)	Jun. 15, 2022 USD ($)	Jun. 15, 2022 CNY (¥)	Jun. 07, 2022 USD ($)	Jun. 07, 2022 CNY (¥)	May 18, 2022 USD ($)	May 18, 2022 CNY (¥)	Mar. 17, 2022 USD ($)	Mar. 17, 2022 CNY (¥)	Feb. 28, 2022 USD ($)	Feb. 28, 2022 CNY (¥)	Jan. 28, 2022 USD ($)	Jan. 28, 2022 CNY (¥)	Jan. 21, 2022 USD ($)	Jan. 21, 2022 CNY (¥)	Jan. 14, 2022 USD ($)	Jan. 14, 2022 CNY (¥)	Dec. 14, 2021 USD ($)	Dec. 14, 2021 CNY (¥)	Sep. 07, 2021 USD ($)	Sep. 07, 2021 CNY (¥)	Aug. 26, 2021 USD ($)	Aug. 26, 2021 CNY (¥)	Aug. 11, 2021 USD ($)	Aug. 11, 2021 CNY (¥)	Aug. 03, 2021 USD ($)	Aug. 03, 2021 CNY (¥)	Apr. 15, 2022 USD ($)	Dec. 24, 2021 USD ($)	Dec. 24, 2021 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CNY (¥)	Feb. 21, 2024 CNY (¥)	Dec. 31, 2023 CNY (¥)	Dec. 27, 2023 USD ($)	Dec. 27, 2023 CNY (¥)	Dec. 26, 2023 USD ($)	Dec. 26, 2023 CNY (¥)	Dec. 25, 2023 USD ($)	Dec. 25, 2023 CNY (¥)	Dec. 07, 2023 USD ($)	Dec. 07, 2023 CNY (¥)	Sep. 27, 2023 USD ($)	Sep. 27, 2023 CNY (¥)	Sep. 26, 2023 USD ($)	Sep. 26, 2023 CNY (¥)	Sep. 12, 2023 USD ($)	Sep. 12, 2023 CNY (¥)	Jun. 20, 2023 USD ($)	Jun. 20, 2023 CNY (¥)	Jun. 19, 2023 CNY (¥)	Jun. 15, 2023 USD ($)	Jun. 15, 2023 CNY (¥)	Jun. 09, 2023 CNY (¥)	Jun. 05, 2023 CNY (¥)	May 05, 2023 USD ($)	May 05, 2023 CNY (¥)	Apr. 17, 2023 USD ($)	Apr. 17, 2023 CNY (¥)	Apr. 07, 2023 USD ($)	Apr. 07, 2023 CNY (¥)	Feb. 07, 2023 USD ($)	Feb. 07, 2023 CNY (¥)	Feb. 03, 2023 USD ($)	Feb. 03, 2023 CNY (¥)	Jan. 11, 2023	Jan. 09, 2023	Dec. 31, 2022 USD ($)	Dec. 22, 2022 USD ($)	Dec. 22, 2022 CNY (¥)	Dec. 21, 2022 CNY (¥)	Dec. 16, 2022 CNY (¥)	Dec. 15, 2022 CNY (¥)	Nov. 09, 2022 USD ($)	Nov. 09, 2022 CNY (¥)	Sep. 19, 2022 USD ($)	Sep. 19, 2022 CNY (¥)	Aug. 12, 2022 USD ($)	Aug. 12, 2022 CNY (¥)	Jun. 16, 2022 USD ($)	Jun. 16, 2022 CNY (¥)	Apr. 15, 2022 CNY (¥)	Apr. 12, 2022 USD ($)	Apr. 12, 2022 CNY (¥)	Apr. 08, 2022 USD ($)	Apr. 08, 2022 CNY (¥)	Mar. 17, 2022 CNY (¥)	Mar. 08, 2022 USD ($)	Mar. 08, 2022 CNY (¥)	Feb. 28, 2022 CNY (¥)	Feb. 22, 2022 USD ($)	Feb. 22, 2022 CNY (¥)	Jan. 28, 2022 CNY (¥)	Jan. 21, 2022 CNY (¥)	Jan. 14, 2022 CNY (¥)	Dec. 24, 2021 CNY (¥)	Oct. 27, 2021 USD ($)	Oct. 27, 2021 CNY (¥)	Sep. 17, 2021	Aug. 19, 2021 USD ($)	Aug. 19, 2021 CNY (¥)	Aug. 10, 2021 USD ($)	Aug. 10, 2021 CNY (¥)	Jul. 21, 2021 USD ($)	Jul. 21, 2021 CNY (¥)	Jul. 14, 2021 USD ($)	Jul. 14, 2021 CNY (¥)	Jun. 28, 2021	Jun. 03, 2021 USD ($)	Jun. 03, 2021 CNY (¥)	Apr. 02, 2021 USD ($)	Apr. 02, 2021 CNY (¥)	Mar. 26, 2021 USD ($)	Mar. 26, 2021 CNY (¥)	Mar. 09, 2021 USD ($)	Mar. 09, 2021 CNY (¥)
Short-Term Bank Loans (Details) - Part 2 [Line Items]
Short term loan																																																																						$ 36,130			¥ 10	$ 700	¥ 5					$ 22,600	¥ 160																										$ 47,655
Land use rights for property													$ 800	¥ 5.9																																																								1,000
Loan amount outstanding	$ 1,400	¥ 9.9																																																																				1,400	¥ 10
Repayment of loan					$ 1,400	¥ 10	$ 3,600	¥ 25	$ 1,600	¥ 11	$ 2,800	¥ 19			$ 100	¥ 1	$ 2,300	¥ 16	$ 100	¥ 1	$ 2,900	¥ 20	$ 1,900	¥ 13			$ 10,800	¥ 75							$ 3,140	¥ 20	$ 2,820	¥ 18	$ 5,800	¥ 37	$ 3,000	¥ 20	$ 4,600	¥ 30	$ 2,600	¥ 17
Drew down loan amounts							$ 1,800				$ 2,800																																																																	$ 1,400	¥ 10					$ 1,400	¥ 10			$ 1,400	¥ 10	$ 4,200	¥ 30				¥ 20		$ 2,400	¥ 17	$ 2,800	¥ 20	$ 1,800	¥ 13														¥ 9.9	$ 3,600																					$ 2,800	¥ 20				$ 4,600	¥ 30	$ 3,100	¥ 20	$ 2,600	¥ 17		$ 900	¥ 6			$ 800	¥ 6
Interest rate of loan							4%																																																																											4%	4%			3.70%	3.70%			4%	4%	4%																					4.20%	4.20%
Repayment to the bank			$ 800	¥ 6																																											$ 1,400	¥ 10	$ 700	¥ 5	$ 1,400	¥ 10
Loan drawn																																																																														$ 1,400	¥ 10											¥ 13																		$ 1,400	¥ 10
Short-term loan facility amount																																																																						1,400			10
Short-term loan facility																									$ 11,300	¥ 80
Fixed interest rate	3.90%	3.90%																							2.50%	2.50%									4%	4%	4%	4%	4%	4%																																				3.90%	3.90%	3.80%	3.80%																		5.50%	5.50%								4.10%																														3.90%	3.90%	3.70%									4.35%	3.35%	3.35%			3.70%	3.70%
China Merchant Bank Fuzhou Branch [Member]
Short-Term Bank Loans (Details) - Part 2 [Line Items]
Short term loan													10,600																																		$ 1,500		$ 800		$ 2,300																	$ 9,200																										¥ 75																																¥ 10			¥ 5			¥ 15			¥ 60
Loan amount outstanding																																																											$ 1,600	¥ 10	$ 3,100	¥ 20			$ 4,600	¥ 30		9,300	¥ 60
Repayment of loan																															$ 2,200	¥ 15	$ 2,400	¥ 17																			$ 2,300	¥ 15	$ 2,300	¥ 15
Drew down loan amounts							$ 2,100																																														$ 2,200		$ 2,400																																			¥ 15																							$ 1,400																					¥ 17
Interest rate of loan							3.70%																								4.30%		4.30%																				4.50%		4.50%																																			3.70%																					4.30%	4.30%			4.30%	4.30%						4.50%	4.50%				4.50%	4.50%		4.50%	4.50%		4.50%	4.50%
Repayment to the bank																																									$ 5,300	¥ 37
Short-term loan facility amount																																																																						10,600			75
Xiamen International Bank Co., Ltd. Fuzhou Branch [Member]
Short-Term Bank Loans (Details) - Part 2 [Line Items]
Short term loan																																																																																				$ 1,400	¥ 10																																							$ 3,100	¥ 20
Drew down loan amounts																																																					$ 900																																																																																¥ 6						$ 4,300	¥ 30
Loan drawn | ¥																																																																																																																									¥ 20
Short-term loan facility amount																																																																						2,800			20
Short-term loan facility																																																															$ 4,300	¥ 30
Fixed interest rate																																																					3.80%																																																																				5.50%												3.80%						5.60%	5.60%
Industrial Bank Fuzhou Huqian Sub Branch [Member]
Short-Term Bank Loans (Details) - Part 2 [Line Items]
Short term loan																																																																																																																																																										$ 1,500	¥ 10
Drew down loan amounts																																																																																																																					$ 4,300	¥ 30
Fixed interest rate																																																																																																																					5.60%	5.60%
Haixia Bank of Fujian Fuzhou Jin’an Branch [Member]
Short-Term Bank Loans (Details) - Part 2 [Line Items]
Short term loan																																																																						1,400		¥ 10																																															$ 1,400	¥ 10																														$ 1,500	¥ 10
Repayment of loan			$ 1,400	¥ 10																																																					$ 750	¥ 5
Fixed interest rate																																																																								3.70%																																															5%	5%																														5.50%	5.50%
Short-Term Loan [Member]
Short-Term Bank Loans (Details) - Part 2 [Line Items]
Short term loan																																																																				11,600																																																																			¥ 75
Short-Term Loan [Member] | Xiamen International Bank Co., Ltd. Fuzhou Branch [Member]
Short-Term Bank Loans (Details) - Part 2 [Line Items]
Short-term loan facility amount																																																																						$ 4,200			¥ 30
4.50%[Member] | China Merchant Bank Fuzhou Branch [Member]
Short-Term Bank Loans (Details) - Part 2 [Line Items]
Drew down loan amounts																																																																																																																										$ 1,400	¥ 10				$ 700	¥ 5		$ 1,400	¥ 10		¥ 15
4.30%[Member] | China Merchant Bank Fuzhou Branch [Member]
Short-Term Bank Loans (Details) - Part 2 [Line Items]
Drew down loan amounts																															$ 3,000		$ 2,300																																																										$ 5,200	¥ 37																			¥ 21	¥ 16				¥ 25
Interest rate of loan																																																																																																									4.05%
Xiamen International Bank Co., Ltd. Fuzhou Branch [Member]
Short-Term Bank Loans (Details) - Part 2 [Line Items]
Additional loan																																																																			$ 2,900
Yongxu, LIU [Member] | China Merchant Bank Fuzhou Branch [Member]
Short-Term Bank Loans (Details) - Part 2 [Line Items]
Real estate amount | ¥																																																																																														¥ 12.1
Land use rights for property																																																																				900
Real Estate [Member} | China Merchant Bank Fuzhou Branch [Member]
Short-Term Bank Loans (Details) - Part 2 [Line Items]
Real estate amount													$ 1,700																																																							$ 1,800
Fujian shengfeng logistics co., ltd.[Member] | China Merchant Bank Fuzhou Branch [Member]
Short-Term Bank Loans (Details) - Part 2 [Line Items]
Drew down loan amounts																																																							$ 1,500																																																																															¥ 10
Interest rate of loan																																																							4.50%																																																																															4.50%
Repayment to the bank																													$ 1,500	¥ 10
Fuqing Shengfeng Logistics Co., Ltd. [Member]
Short-Term Bank Loans (Details) - Part 2 [Line Items]
Short term loan																																																																																																							$ 800	¥ 6
Repayment of loan							$ 400	¥ 3
Drew down loan amounts																																																																																																					$ 800	¥ 6																																¥ 3
Interest rate of loan																																																							4.50%																																																																															4.50%
Repayment to the bank																													500
Fixed interest rate																																																																																																					3.70%	3.70%
Fuqing Shengfeng Logistics Co., Ltd. [Member] | China Merchant Bank Fuzhou Branch [Member]
Short-Term Bank Loans (Details) - Part 2 [Line Items]
Drew down loan amounts																													$ 400																										$ 500																																																							¥ 3
Interest rate of loan																													4.30%																																																																																	4.30%
Repayment to the bank | ¥																														¥ 3

Short-Term Bank Loans (Detail_3

Short-Term Bank Loans (Details) - Part 3 $ in Thousands, ¥ in Millions																																					1 Months Ended						12 Months Ended
	Feb. 29, 2024 USD ($)	Dec. 07, 2023 USD ($)	Nov. 20, 2023 USD ($)	Nov. 20, 2023 CNY (¥)	Nov. 14, 2023 USD ($)	Nov. 14, 2023 CNY (¥)	Jul. 07, 2023 USD ($)	Jul. 07, 2023 CNY (¥)	Jun. 05, 2023 USD ($)	Jun. 05, 2023 CNY (¥)	Jan. 09, 2023 USD ($)	Jan. 09, 2023 CNY (¥)	Jan. 09, 2023 USD ($)	Jan. 09, 2023 CNY (¥)	Dec. 21, 2022 USD ($)	Dec. 21, 2022 CNY (¥)	Jun. 15, 2022 USD ($)	Jun. 15, 2022 CNY (¥)	Mar. 21, 2022 USD ($)	Mar. 21, 2022 CNY (¥)	Mar. 17, 2022 USD ($)	Mar. 17, 2022 CNY (¥)	Feb. 28, 2022 USD ($)	Feb. 28, 2022 CNY (¥)	Jan. 28, 2022 USD ($)	Jan. 28, 2022 CNY (¥)	Sep. 07, 2021 USD ($)	Sep. 07, 2021 CNY (¥)	Aug. 26, 2021 USD ($)	Aug. 26, 2021 CNY (¥)	Aug. 03, 2021 USD ($)	Aug. 03, 2021 CNY (¥)	Mar. 12, 2021 USD ($)	Mar. 12, 2021 CNY (¥)	Mar. 10, 2021 USD ($)	Mar. 10, 2021 CNY (¥)	Mar. 21, 2022 USD ($)	Mar. 21, 2022 CNY (¥)	Jan. 19, 2022 USD ($)	Jan. 19, 2022 CNY (¥)	Dec. 24, 2021 USD ($)	Dec. 24, 2021 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Mar. 13, 2024 USD ($)	Mar. 13, 2024 CNY (¥)	Feb. 29, 2024 CNY (¥)	Feb. 21, 2024 USD ($)	Feb. 21, 2024 CNY (¥)	Feb. 05, 2024 USD ($)	Feb. 05, 2024 CNY (¥)	Jan. 30, 2024 USD ($)	Jan. 30, 2024 CNY (¥)	Jan. 05, 2024 USD ($)	Jan. 05, 2024 CNY (¥)	Dec. 31, 2023 CNY (¥)	Dec. 27, 2023 USD ($)	Dec. 27, 2023 CNY (¥)	Dec. 26, 2023 USD ($)	Dec. 26, 2023 CNY (¥)	Dec. 25, 2023 USD ($)	Dec. 25, 2023 CNY (¥)	Dec. 07, 2023 CNY (¥)	Nov. 20, 2023 CNY (¥)	Sep. 27, 2023 USD ($)	Sep. 27, 2023 CNY (¥)	Sep. 26, 2023 USD ($)	Sep. 26, 2023 CNY (¥)	Sep. 12, 2023 USD ($)	Sep. 12, 2023 CNY (¥)	Jun. 20, 2023 USD ($)	Jun. 20, 2023 CNY (¥)	Jun. 19, 2023 USD ($)	Jun. 19, 2023 CNY (¥)	Jun. 15, 2023	Jun. 09, 2023 USD ($)	Jun. 09, 2023 CNY (¥)	Jun. 05, 2023 CNY (¥)	May 05, 2023 USD ($)	May 05, 2023 CNY (¥)	Apr. 17, 2023 USD ($)	Apr. 17, 2023 CNY (¥)	Apr. 07, 2023 USD ($)	Apr. 07, 2023 CNY (¥)	Mar. 15, 2023 USD ($)	Feb. 28, 2023 USD ($)	Feb. 28, 2023 CNY (¥)	Feb. 07, 2023 USD ($)	Feb. 07, 2023 CNY (¥)	Feb. 03, 2023 USD ($)	Feb. 03, 2023 CNY (¥)	Jan. 17, 2023 USD ($)	Jan. 17, 2023 CNY (¥)	Jan. 09, 2023 CNY (¥)	Dec. 22, 2022 USD ($)	Dec. 22, 2022 CNY (¥)	Dec. 21, 2022 CNY (¥)	Dec. 16, 2022	Dec. 15, 2022	Nov. 09, 2022 USD ($)	Nov. 09, 2022 CNY (¥)	Sep. 19, 2022 USD ($)	Aug. 12, 2022 USD ($)	Aug. 12, 2022 CNY (¥)	Jul. 18, 2022	Jul. 14, 2022	Jul. 07, 2022	Jun. 16, 2022 USD ($)	Jun. 16, 2022 CNY (¥)	May 31, 2022	Apr. 15, 2022 CNY (¥)	Apr. 12, 2022	Apr. 08, 2022 USD ($)	Apr. 08, 2022 CNY (¥)	Mar. 17, 2022 CNY (¥)	Mar. 08, 2022	Mar. 04, 2022 USD ($)	Mar. 04, 2022 CNY (¥)	Feb. 28, 2022 CNY (¥)	Feb. 22, 2022	Jan. 28, 2022 CNY (¥)	Jan. 21, 2022 USD ($)	Jan. 21, 2022 CNY (¥)	Jan. 19, 2022 CNY (¥)	Jan. 14, 2022 USD ($)	Jan. 14, 2022 CNY (¥)	Dec. 24, 2021 CNY (¥)	Nov. 30, 2021 USD ($)	Nov. 30, 2021 CNY (¥)	Oct. 27, 2021 USD ($)	Oct. 27, 2021 CNY (¥)	Sep. 17, 2021 USD ($)	Sep. 17, 2021 CNY (¥)	Aug. 19, 2021 USD ($)	Aug. 19, 2021 CNY (¥)	Aug. 10, 2021 USD ($)	Aug. 10, 2021 CNY (¥)	Jul. 21, 2021 USD ($)	Jul. 21, 2021 CNY (¥)	Jul. 14, 2021 USD ($)	Jul. 14, 2021 CNY (¥)	Jun. 28, 2021 USD ($)	Jun. 03, 2021 USD ($)	Jun. 03, 2021 CNY (¥)	Apr. 02, 2021 USD ($)	Apr. 02, 2021 CNY (¥)	Mar. 26, 2021 USD ($)	Mar. 26, 2021 CNY (¥)	Mar. 10, 2021 CNY (¥)	Mar. 09, 2021 USD ($)	Mar. 09, 2021 CNY (¥)
Short-Term Bank Loans (Details) - Part 3 [Line Items]
Short term loan		$ 22,600																																									$ 36,130		$ 47,655													¥ 10	$ 700	¥ 5					¥ 160
Fixed interest rate			3.90%								4.10%		4.10%																																																3.90%	3.90%	3.80%	3.80%		3.90%																	5.50%	5.50%			2.50%									4.10%											4%	4%	4%																							3.90%	3.90%	3.70%	3.70%									4.35%	3.35%	3.35%			3.70%	3.70%
Interest rate of loan																																																																			4%	4%			3.70%	3.70%			4%	4%	4%																									4.20%	4.20%
Drew down loan amounts																																																													$ 1,400	¥ 10					$ 1,400	¥ 10			$ 1,400	¥ 10	$ 4,200	¥ 30	$ 1,800			$ 2,800	¥ 20		$ 2,400	¥ 17	$ 2,800	¥ 20	$ 1,800	¥ 13																	¥ 9.9	$ 3,600																												$ 2,800	¥ 20					$ 4,600	¥ 30	$ 3,100	¥ 20	$ 2,600	¥ 17		$ 900	¥ 6			$ 800	¥ 6
Loan amount outstanding			$ 1,400	¥ 9.9																																							1,400	¥ 10
Short-term loan received																																											46,391		61,269	$ 62,645
Loan amount outstanding		$ 6,100			$ 1,400	¥ 10
Amount obtained under credit line																																					$ 1,900	¥ 13					1,400	9.9
Long-term loan credit line																																											10															0.1
Real estate amount																																																																																							$ 8,100																																																									$ 9,800
Land use rights for property									$ 800	¥ 5.9																																	1,000
Notes Payable																																															$ 10,600	¥ 75																																								$ 8,500	¥ 60
Repayment to the bank							$ 800	¥ 6													$ 1,400	¥ 10	$ 700	¥ 5	$ 1,400	¥ 10
Loan drawn																																																															$ 1,400	¥ 10												¥ 13																					$ 1,400	¥ 10
Short-term loan facility amount																																											1,400															10
Long-term bebt		10 years																																																															10 years
Aggregate credit line																																											34,000															240.9
Minimum [Member]
Short-Term Bank Loans (Details) - Part 3 [Line Items]
Interest rate of loan																																																																																																																4%
Fujian Fuzhou Rural Commercial Bank Co., Ltd. Yuefeng Branch [Member]
Short-Term Bank Loans (Details) - Part 3 [Line Items]
Short term loan																																																																																																																																		$ 1,500	¥ 10
Fujian Fuzhou Rural Commercial Bank Co., Ltd. Yuefeng Branch [Member] | Minimum [Member]
Short-Term Bank Loans (Details) - Part 3 [Line Items]
Fixed interest rate																																																																																																																																		5.50%	5.50%
Shanghai Pudong Development Bank Co., Ltd. Fuzhou Branch [Member]
Short-Term Bank Loans (Details) - Part 3 [Line Items]
Short term loan																																																																																																																																						$ 1,500	¥ 10
Fixed interest rate																																																																																																																																						4.65%	4.65%
Haixia Bank of Fujian Fuzhou Jin’an Branch [Member]
Short-Term Bank Loans (Details) - Part 3 [Line Items]
Short term loan																																											1,400								¥ 10																																																											$ 1,400	¥ 10																																				$ 1,500	¥ 10
Fixed interest rate																																																		3.70%	3.70%																																																											5%	5%																																				5.50%	5.50%
Industrial Bank Fuzhou Huqian Sub Branch [Member]
Short-Term Bank Loans (Details) - Part 3 [Line Items]
Short term loan																																																																																																																																																								$ 1,500	¥ 10
Fixed interest rate																																																																																																									5.60%	5.60%
Drew down loan amounts																																																																																																									$ 4,300	¥ 30
Xiamen International Bank Co., Ltd. Fuzhou Branch [Member]
Short-Term Bank Loans (Details) - Part 3 [Line Items]
Short term loan																																																																					$ 1,400	¥ 10																																													$ 3,100	¥ 20
Fixed interest rate																																																																																																																	5.50%											3.80%	3.80%											5.60%	5.60%
Drew down loan amounts																																																																																																																												$ 900	¥ 6											$ 4,300	¥ 30
Loan drawn | ¥																																																																																																																	¥ 20
Short-term loan facility amount																																											2,800															20
China Merchant Bank Fuzhou Branch [Member]
Short-Term Bank Loans (Details) - Part 3 [Line Items]
Short term loan									$ 10,600												1,500		$ 800		$ 2,300																$ 9,200																																							¥ 75																																					¥ 10				¥ 5		¥ 15						¥ 60
Interest rate of loan																																																																											3.70%	3.70%																								4.30%	4.30%			4.30%										4.50%				4.50%				4.50%		4.50%	4.50%		4.50%	4.50%
Drew down loan amounts																																																																											$ 2,100	¥ 15																										$ 1,400																						$ 2,200			$ 2,400	¥ 17
Loan amount outstanding																											$ 1,600	¥ 10	$ 3,100	¥ 20	$ 4,600	¥ 30									$ 9,300	¥ 60
Repayment to the bank																	$ 5,300	¥ 37
Short-term loan facility amount																																											10,600															75
Bank of China Ningde Branch [Member]
Short-Term Bank Loans (Details) - Part 3 [Line Items]
Aggregate credit line																																											56,600															¥ 401
Subsequent Event [Member]
Short-Term Bank Loans (Details) - Part 3 [Line Items]
Drew down loan amounts																																																				$ 500	¥ 3.4			$ 900	¥ 6.4
Long-term loan credit line	$ 1,500																																																¥ 10
Long term debt Principal amount	17,600																																																¥ 125
Real estate amount	8,000
Land use rights for property	$ 1,000
Notes Payable																																																						$ 8,500	¥ 60
Industrial Bank Co., Ltd. Fuzhou Branch [Member]
Short-Term Bank Loans (Details) - Part 3 [Line Items]
Short term loan																																			$ 1,500																																																																																				$ 1,400	¥ 10																															¥ 10
Fixed interest rate																																			4.35%																																																																																				4.35%	4.35%																															4.35%
Drew down loan amounts			$ 1,400																																																															¥ 9.9
Short-term loan received																			$ 100	¥ 1	$ 1,300	¥ 9											$ 200	¥ 1	$ 1,400	¥ 9
Fuzhou Tongpan Branch of China Everbright Bank Co., Ltd [Member]
Short-Term Bank Loans (Details) - Part 3 [Line Items]
Short term loan											$ 800		$ 800																																																																																			¥ 6
Loan proceeds													$ 800	¥ 6
Forecast [Member] | Haixia Bank of Fujian Fuzhou Jin’an Branch [Member]
Short-Term Bank Loans (Details) - Part 3 [Line Items]
Short term loan																																																		$ 1,400
China Everbright Bank Co., Ltd Fuzhou Tongpan Branch [Member]
Short-Term Bank Loans (Details) - Part 3 [Line Items]
Short term loan																																							$ 900																																																																																							¥ 6
Fixed interest rate																																							4.60%																																																																																							4.60%
Interest rate of loan																																																											4%	4%
Loan amount outstanding																																											800	6
Loan proceeds																																							$ 900	¥ 6
Repayment to the bank											$ 900	¥ 6
Fuqing Shengfeng Logistics Co., Ltd. [Member]
Short-Term Bank Loans (Details) - Part 3 [Line Items]
Short term loan																																																																																												$ 800	¥ 6
Fixed interest rate																																																																																										3.70%	3.70%
Interest rate of loan																																																																																																																															4.50%	4.50%
Drew down loan amounts																																																																																										$ 800	¥ 6																																					¥ 3
Repayment to the bank															$ 500
Fuqing Shengfeng Logistics Co., Ltd. [Member] | China Merchant Bank Fuzhou Branch [Member]
Short-Term Bank Loans (Details) - Part 3 [Line Items]
Interest rate of loan															4.30%																																																																																				4.30%
Drew down loan amounts															$ 400																																																																																				¥ 3																												$ 500
Repayment to the bank | ¥																¥ 3
Guangxi Beibu Gulf Bank Nanning Branch [Member]
Short-Term Bank Loans (Details) - Part 3 [Line Items]
Short term loan																																																																																														$ 700	¥ 5
Fixed interest rate																																																																																														4.16%	4.16%
Short term loan receivable																																											700	¥ 5.3
Short-term bank loans interest expense																																											$ 1,400		$ 2,100	$ 2,300
China Merchant Bank Fuzhou Branch [Member]
Short-Term Bank Loans (Details) - Part 3 [Line Items]
Short term loan																																																															$ 1,400	¥ 10

Short-Term Bank Loans (Detail_4

Short-Term Bank Loans (Details) - Schedule of Short-Term Bank Loans from Commercial Banks $ in Thousands, ¥ in Millions	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CNY (¥)	Dec. 27, 2023 USD ($)	Dec. 27, 2023 CNY (¥)	Dec. 07, 2023 USD ($)	Dec. 07, 2023 CNY (¥)	Dec. 31, 2022 USD ($)
Short-Term Debt [Line Items]
Short term bank loans	$ 36,130	¥ 10	$ 700	¥ 5	$ 22,600	¥ 160	$ 47,655
China Minsheng Bank Fuzhou Branch
Short-Term Debt [Line Items]
Short term bank loans							10,769
Bank of China Fuzhou Jin’an Branch [Member]
Short-Term Debt [Line Items]
Short term bank loans	11,295						11,487
China Merchant Bank Fuzhou Branch [Member]
Short-Term Debt [Line Items]
Short term bank loans	10,589						10,769
Xiamen International Bank Co., Ltd. Fuzhou Branch [Member]
Short-Term Debt [Line Items]
Short term bank loans	7,059						7,179
Haixia Bank of Fujian Fuzhou Jin’an Branch [Member]
Short-Term Debt [Line Items]
Short term bank loans	1,412						1,436
Fujian Fuzhou Rural Commercial Bank Co., Ltd. Yuefeng Branch [Member]
Short-Term Debt [Line Items]
Short term bank loans							1,436
Shanghai Pudong Development Bank Co., Ltd. Fuzhou Branch [Member]
Short-Term Debt [Line Items]
Short term bank loans	2,118						1,436
Industrial Bank Fuzhou Huqian Sub Branch [Member]
Short-Term Debt [Line Items]
Short term bank loans	847						861
Industrial Bank Fuzhou Branch [Member]
Short-Term Debt [Line Items]
Short term bank loans	1,398						1,421
China Everbright Bank Co., Ltd Fuzhou Tongpan Branch [Member]
Short-Term Debt [Line Items]
Short term bank loans							861
Haixia Bank of Fujian Fuzhou Minjiang Branch [Member]
Short-Term Debt [Line Items]
Short term bank loans	$ 1,412

Accrued Expenses and Other Li_3

Accrued Expenses and Other Liabilities (Details) ¥ in Millions, $ in Millions	Jan. 12, 2024 USD ($)	Jan. 12, 2024 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CNY (¥)	Sep. 26, 2023 USD ($)	Sep. 26, 2023 CNY (¥)	Sep. 26, 2023 CNY (¥)
Accrued Expenses and Other Liabilities (Details) [Line Items]
Equity interest					51%		51%
Consideration amount					$ 7.2	¥ 51
Commitment to Lend					7.2		¥ 51
Received loan amount		¥ 31,000,000	$ 7.2	¥ 51
Deposits			$ 2.8	¥ 20
Subsequent Event [Member]
Accrued Expenses and Other Liabilities (Details) [Line Items]
Received loan amount	$ 4.4
Third party [Member]
Accrued Expenses and Other Liabilities (Details) [Line Items]
Commitment to Lend					$ 6.9		¥ 49

Accrued Expenses and Other Li_4

Accrued Expenses and Other Liabilities (Details) - Schedule of Accrued Expenses and Other Current Liabilities - Other Current Liabilities [Member] - USD ($) $ in Thousands		Dec. 31, 2023	Dec. 31, 2022
Accrued Expenses and Other Liabilities (Details) - Schedule of Accrued Expenses and Other Current Liabilities [Line Items]
Rental and freight logistics deposits received		$ 4,286	$ 3,498
Payables for long-term assets		1,326	1,360
Government subsidies		1,070	1,467
Contract liabilities		1,040	1,142
Cash collected on behalf of the customers	[1]	81	181
Service payables		4	12
Contingent liability		169	258
Consideration deposit received from a third party	[2]	2,824
Advance from third party	[2]	7,201
Others		253	503
Total		18,254	8,421
Less: accrued expenses and other current liabilities		(16,258)	(6,551)
Other non-current liabilities		$ 1,996	$ 1,870
[1]The Company collects the goods considerations from the recipients after they deliver the goods to the determined locations on behalf of the customers, and will pay to the customers on a regular basis.[2]On September 26, 2023, the Company entered into a shareholder agreement with a third party. Pursuant to the agreement: (i) the Company will develop the land together with the third party through SF Smart as a project management company. (ii) the third party will obtain 51% equity interest in Pingtan SF for a consideration of approximately $7.2 million (RMB51.0 million). (iii) the third party and the Company will advance approximately $7.2 million (RMB51.0 million) and $6.9 million (RMB49.0 million) to SF Smart, respectively, these advances are due on demand, with interest rate at the loan prime rate for one-year of the People’s Bank of China. As of December 31, 2023, the Company received the advance from this third party in full of approximately $7.2 million (RMB51.0 million) and the consideration deposit of approximately $2.8 million (approximately RMB20.0 million) for the equity interest. Subsequently on January 12, 2024, the Company received the remaining equity consideration approximately $4.4 million (RM31.0 million) from the third party.

Leases (Details)

Leases (Details) - Operating leases as lessee [Member] $ in Millions	Dec. 31, 2023 USD ($)
Leases (Details) [Line Items]
Operating ROU assets	$ 4.2
Operating lease liabilities	$ 4

Leases (Details) - Schedule of

Leases (Details) - Schedule of Associated Financial Statement - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Assets
Operating lease right-of-use assets, net	$ 18,020	$ 27,880
Liabilities
Operating lease liabilities, current	6,315	9,634
Operating lease liabilities, non-current	$ 10,899	$ 17,507
Weighted average remaining lease term (in years)	4 years 8 months 1 day	5 years 1 month 6 days
Weighted average discount rate (%)	5.84%	5.78%

Leases (Details) - Schedule o_2

Leases (Details) - Schedule of Operating Lease Activities - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Operating Lease Activities [Abstract]
Operating lease right-of-use assets (extinguished) obtained in exchange for lease liabilities	$ (1,347)	$ 9,674	$ 12,247
Amortization of right-of-use assets	8,096	9,157	7,963
Interest of lease liabilities	1,241	1,656	1,585
Total	$ 9,337	$ 10,813	$ 9,548

Leases (Details) - Schedule o_3

Leases (Details) - Schedule of Maturities of Lease Liabilities $ in Thousands	Dec. 31, 2023 USD ($)
Schedule of Maturities of Lease Liabilities [Abstract]
2024	$ 6,524
2025	4,126
2026	2,583
2027	1,913
2028	1,300
Thereafter	3,390
Total lease payments	19,836
Less: imputed interest	(2,622)
Total	$ 17,214

Taxes (Details)

Taxes (Details) ¥ in Thousands, $ in Millions, $ in Millions		12 Months Ended
		Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 HKD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2023 USD ($)
Taxes (Details) [Line Items]
Profits tax rate (in Dollars)			$ 2
Legacy tax rate		16.50%	16.50%
Enterprise income tax rate		25%	25%
Unrecognized tax benefits of effective tax rate (in Dollars)				$ 0.3	$ 0.2	$ 0.8
Preferential tax rate	[1]	6.20%	6.20%	2.80%	3.80%
Finite lived in tangible asset useful life						5 years
Deferred tax assets, valuation allowance (in Dollars)
Operating loss carryforwards (in Dollars)				$ 9.5		$ 2.8
Underpayment of taxes (in Yuan Renminbi) | ¥		¥ 100
Statute of limitation		10 years	10 years
Minimum [Member]
Taxes (Details) [Line Items]
Preferential tax rate		2.50%	2.50%
Finite lived in tangible asset useful life						5 years
Maximum [Member]
Taxes (Details) [Line Items]
Preferential tax rate		5%	5%
Finite lived in tangible asset useful life						50 years
HONG KONG [Member]
Taxes (Details) [Line Items]
Lowered tax rate		8.25%	8.25%
Software [Member]
Taxes (Details) [Line Items]
Finite lived in tangible asset useful life						10 years
Beijing Shengfeng Supply Chain Management Co., Ltd. [Member]
Taxes (Details) [Line Items]
Preferential tax rate		15%	15%
Guangdong Shengfeng Logistics Co., Ltd. [Member]
Taxes (Details) [Line Items]
Preferential tax rate		15%	15%
Guangdong Shengfeng Logistics Co., Ltd. [Member] | High and New Technology Enterprise [Member]
Taxes (Details) [Line Items]
Preferential tax rate		15%	15%
Beijing Tianyushengfeng E-commerce Technology Co., Ltd. [Member]
Taxes (Details) [Line Items]
Preferential tax rate		15%	15%
Shengfeng Supply Chain Management Co., Ltd. [Member]
Taxes (Details) [Line Items]
Preferential tax rate		15%	15%
[1] Preferential tax rates for small and micro enterprises and high-tech entities.

Taxes (Details) - Schedule of I

Taxes (Details) - Schedule of Income (loss) Before Income Taxes - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Income Before Income Taxes [Abstract]
Non-PRC	$ (421)	$ (472)
PRC	13,049	9,897	8,161
Total	$ 12,628	$ 9,425	$ 8,161

Taxes (Details) - Schedule of_2

Taxes (Details) - Schedule of Income Tax Provision - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Income Tax Provision [Abstract]
Current	$ 796	$ 361	$ 21
Deferred	1,524	1,238	1,496
Total	$ 2,320	$ 1,599	$ 1,517

Taxes (Details) - Schedule of S

Taxes (Details) - Schedule of Statutory Rates to the Company’s Effective Tax Rate		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Statutory Rates to the Company’s Effective Tax Rate [Abstract]
PRC statutory income tax rate		25%	25%	25%
Effect of preferential tax rates	[1]	(6.20%)	(2.80%)	(3.80%)
Eligible additional deduction	[2]	(3.50%)	(3.30%)	(3.20%)
Impact of different tax rates in other jurisdictions		0.80%	1.30%
Non-taxable and exemptions		(0.30%)	(3.30%)
Permanent differences	[3]	2.60%	0.10%	0.60%
Effective income tax rate		18.40%	17%	18.60%
[1] Preferential tax rates for small and micro enterprises and high-tech entities. Eligible additional deduction mainly consisted of research and development super deduction and disabled staff super deduction. Permanent differences mainly consisted of non-deductible meal and entertainment fees in PRC tax returns.

Taxes (Details) - Schedule of F

Taxes (Details) - Schedule of Financial Accounting Basis and Tax Basis of Assets and Liabilities - USD ($) $ in Thousands		Dec. 31, 2023	Dec. 31, 2022
Schedule of Financial Accounting Basis and Tax Basis of Assets and Liabilities [Abstract]
Net operating losses carryforward		$ 609	$ 2,300
Allowance for credit losses		913	874
Deferred income	[1]	267	279
Intangible assets	[2]	155	134
Operating lease liabilities		4,303
Subtotal		6,247	3,587
Less: valuation allowance
Deferred tax assets		6,247	3,587
Operating lease right-of-use assets		4,254
Deferred tax liabilities		$ 4,254
[1] Deferred income represents the assets related government subsidies, which will amortize on a straight-line basis within the useful life of related assets. The tax basis is recognized when the Company received the subsidies. Intangible asset represents the amortization temporary difference of licensed software. Management uses 10 years useful life as the tax basis, which is different from the 5 years useful life in accounting basis.

Taxes (Details) - Schedule of T

Taxes (Details) - Schedule of Tax Payable - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Schedule of Tax Payable Consisted [Abstract]
Value-added tax payable	$ 1,665	$ 1,828
Income tax payable	343	185
Other taxes payable	270	194
Total	$ 2,278	$ 2,207

Shareholders' Equity (Details)

Shareholders' Equity (Details) - USD ($)			12 Months Ended
		Apr. 04, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Oct. 25, 2023	Dec. 18, 2020
Shareholders' Equity (Details) [Line Items]
Fair value of warrants			$ 368,454
Market value of underlying, per share (in Dollars per share)			$ 4.05
Risk free rate percentage			4.50%
Exercise price of warrants (in Dollars per share)			$ 4.46
Volatility rate			183.50%
Expected future dividends
Capital contribution			$ 600,000		$ 3,400,000
Equity method investment, realized gain (loss) on disposal				$ 300,000
After tax net income percentage			10%
Entity registered capital			50%
Statutory reserve			$ 4,900,000	4,000,000
After tax profit			10%
Registered capital			50%
Paid-in-capital			$ 87,100,000
Restricted statutory reserve				79,600,000
IPO [Member]
Shareholders' Equity (Details) [Line Items]
Aggregate gross proceeds		$ 9,600,000
Net proceeds		$ 8,500,000
Additional Paid in Capital [Member]
Shareholders' Equity (Details) [Line Items]
Equity method investment, realized gain (loss) on disposal				$ 2,500,000
Ordinary Shares [Member]
Shareholders' Equity (Details) [Line Items]
Common stock, shares authorized (in Shares)			50,000
Common stock, par or stated value per share (in Dollars per share)			$ 1
Class A Ordinary Share [Member]
Shareholders' Equity (Details) [Line Items]
Common stock, shares authorized (in Shares)	[1]		400,000,000	400,000,000
Common stock, par or stated value per share (in Dollars per share)	[1]		$ 0.0001	$ 0.0001
Common stock, shares issued (in Shares)	[1]		40,617,513	38,120,000
Common stock, shares outstanding (in Shares)	[1]		40,617,513	38,120,000
Class A Ordinary Share [Member] | IPO [Member]
Shareholders' Equity (Details) [Line Items]
Common stock, par or stated value per share (in Dollars per share)		$ 4
Common stock, shares issued (in Shares)		2,400,000
Class B Ordinary Share [Member]
Shareholders' Equity (Details) [Line Items]
Common stock, shares authorized (in Shares)	[1]		100,000,000	100,000,000
Common stock, par or stated value per share (in Dollars per share)	[1]		$ 0.0001	$ 0.0001
Common stock, shares issued (in Shares)	[1]		41,880,000	41,880,000
Common stock, shares outstanding (in Shares)	[1]		41,880,000	41,880,000
Cayman Islands [Member] | Class A Ordinary Share [Member]
Shareholders' Equity (Details) [Line Items]
Common stock, shares authorized (in Shares)							400,000,000
Cayman Islands [Member] | Class B Ordinary Share [Member]
Shareholders' Equity (Details) [Line Items]
Common stock, shares authorized (in Shares)							100,000,000
Common stock, par or stated value per share (in Dollars per share)							$ 0.0001
Underwriter’s Warrants [Member]
Shareholders' Equity (Details) [Line Items]
Common stock, shares issued (in Shares)						97,513
Aggregate shares (in Shares)			144,000
Underwriter’s Warrants [Member] | Class A Ordinary Share [Member]
Shareholders' Equity (Details) [Line Items]
Common stock, shares issued (in Shares)			40,617,513
Price per share (in Dollars per share)			$ 4.46
Common stock, shares outstanding (in Shares)			40,617,513
Underwriter’s Warrants [Member] | Class B Ordinary Share [Member]
Shareholders' Equity (Details) [Line Items]
Common stock, shares issued (in Shares)			41,880,000
Common stock, shares outstanding (in Shares)			41,880,000
[1] Shares and per share data are presented on a retroactive basis to reflect the reorganization.

Commitments and Contingencies (

Commitments and Contingencies (Details) - Dec. 31, 2023 ¥ in Millions, $ in Millions	USD ($)	CNY (¥)
Commitments and Contingencies [Abstract]
Restricted cash	$ 0.2	¥ 1.2

Unaudited Condensed Financial_3

Unaudited Condensed Financial Information of the Parent Company (Details)	12 Months Ended
	Dec. 31, 2023
Unaudited Condensed Financial Information of the Parent Company [Line Items]
After tax profit percentage	10%
Accumulative reserves	50%
Restricted net assets	25%
Net assets percentage	25%

Unaudited Condensed Financial_4

Unaudited Condensed Financial Information of the Parent Company (Details) - Schedule of Condensed Balance Sheets (Unaudited) - Parent Company [Member] - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets
Cash	$ 542	$ 47
Prepayments and other current assets	93
Total Current Assets	635	47
Deferred issuance costs		81
Investment in subsidiaries and VIEs (restricted)	107,312	91,695
Non-current assets	107,312	91,776
Total Assets	107,947	91,823
Current liabilities
Total Current Liabilities		600
Total liabilities		600
Commitments and Contingencies
Shareholders’ Equity
Additional paid-in capital	83,762	79,549
Retained earnings	31,543	17,275
Accumulated other comprehensive (loss)	(7,366)	(5,609)
Total Shareholders’ Equity	107,947	91,223
Total Liabilities and Shareholders’ Equity	107,947	91,823
Class A Ordinary Share [Member]
Shareholders’ Equity
Ordinary share value	4	4
Class B Ordinary Share [Member]
Shareholders’ Equity
Ordinary share value	4	4
Related Party [Member]
Current liabilities
Due to a related party		$ 600

Unaudited Condensed Financial_5

Unaudited Condensed Financial Information of the Parent Company (Details) - Schedule of Condensed Balance Sheets (Unaudited) (Parentheticals) - Parent Company [Member] - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Class A Ordinary Share [Member]
Schedule of Condensed Balance Sheets [Abstract]
Ordinary share, par value (in Dollars per share)	$ 0.0001	$ 0.0001
Ordinary share, shares authorized	400,000,000	400,000,000
Ordinary share, shares issued	40,617,513	38,120,000
Ordinary share, shares outstanding	40,617,513	38,120,000
Class B Ordinary Share [Member]
Schedule of Condensed Balance Sheets [Abstract]
Ordinary share, par value (in Dollars per share)	$ 0.0001	$ 0.0001
Ordinary share, shares authorized	100,000,000	100,000,000
Ordinary share, shares issued	41,880,000	41,880,000
Ordinary share, shares outstanding	41,880,000	41,880,000

Unaudited Condensed Financial_6

Unaudited Condensed Financial Information of the Parent Company (Details) - Schedule of Condensed Statements of Operations and Comprehensive Income (Loss) (Unaudited) - Parent Company [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Condensed Statement of Income Captions [Line Items]
Equity in earnings of subsidiaries	$ 10,715	$ 8,259	$ 6,898
General and administrative expenses	(421)	(472)
NET INCOME	10,294	7,787	6,898
OTHER COMPREHENSIVE INCOME (LOSS)
Foreign currency translation adjustment	(1,757)	(8,157)	2,072
COMPREHENSIVE INCOME (LOSS)	$ 8,537	$ (370)	$ 8,970

Unaudited Condensed Financial_7

Unaudited Condensed Financial Information of the Parent Company (Details) - Schedule of Condensed Statements of Cash Flow (Unaudited) - Parent Company [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities
Net income	$ 10,294	$ 7,787	$ 6,898
Adjustments to reconcile net income to net cash used in operating activities:
Equity income of subsidiaries and VIEs	(10,715)	(8,259)	(6,898)
Prepaid expenses and other current assets	(92)
Net cash used in operating activities	(513)	(472)
Cash flows from investing activities
Loan to a subsidiary	(6,660)
Net cash used in investing activities	(6,660)
Cash flows from financing activities
Due to a related party	(600)	600
Deferred issuance costs	(279)	(81)
Proceeds from initial public offering	8,547
Net cash provided by financing activities	7,668	519
Net increase in cash	495	47
Cash, cash equivalents and restricted cash, beginning of year	47
Cash, cash equivalents and restricted cash, end of year	$ 542	$ 47