8月28日，顺丰同城在港交所发布的中期业绩报告显示，公司期内收入102.36亿元，同比增长48.8%；净 利润1.37亿元，同比增长120.4%；经调净利润1.6亿元，同比增长139%。 ...

Core Insights - The company reported a revenue of approximately 10.236 billion, representing a year-on-year growth of 48.8% [1] - Gross profit was around 681 million, with a year-on-year increase of 43.8% [1] - Adjusted net profit reached approximately 160 million, showing a significant year-on-year growth of 139.0% [1] - Net profit was about 137 million, reflecting a year-on-year increase of 120.43% [1] - Basic and diluted earnings per share were 0.15 [1] Financial Performance - As of June 30, 2025, the company held cash and cash equivalents of 1.134 billion and short-term investment of 1.26 billion, indicating a strong cash flow and ample financial reserves [1] - The financial growth in the first half of the year was attributed to several factors: - Rapid growth in the food delivery and instant retail sectors, leading to over 50% year-on-year increase in same-city delivery service order volume [1] - Optimization of business structure, with increased revenue contribution from quality clients [1] - Technological advancements and lean management improving operational efficiency and expanding network economies of scale, resulting in sustained profit release [1]

（文章来源：第一财经） 顺丰同城在港交所公告，2025年上半年收入102.36亿元，同比增长48.8%；净利润1.37亿元，同比增长 120.4%；净利润率为1.3%，上年同期为0.9%。 ...

Core Viewpoint - SF Express City (09699) reported strong mid-year results for 2025, with significant growth in revenue and profit metrics, driven by the rapid expansion of the food delivery and instant retail sectors [1] Financial Performance - Revenue reached approximately 10.236 billion yuan, representing a year-on-year increase of 48.8% [1] - Gross profit was about 681 million yuan, up 43.8% year-on-year [1] - Adjusted net profit was around 160 million yuan, reflecting a 139.0% increase year-on-year [1] - Net profit stood at approximately 137 million yuan, showing a year-on-year growth of 120.43% [1] - Basic and diluted earnings per share were 0.15 yuan [1] Cash Flow and Financial Health - As of June 30, 2025, the company held cash and cash equivalents of 1.134 billion yuan and short-term investment of 1.26 billion yuan, indicating a strong cash flow position and ample financial reserves [1] Growth Drivers - The impressive financial growth was attributed to several factors: - Rapid growth in the food delivery and instant retail sectors, leading to over 50% year-on-year increase in same-city delivery service order volume [1] - Optimization of business structure, with high-quality customers contributing more to revenue [1] - Technological advancements and lean management practices enhancing operational efficiency and expanding network economies of scale, resulting in sustained profit release [1]

Core Insights - The company reported a significant revenue increase of 48.8% to RMB 10,236 million for the six months ending June 30, 2025 [1] - Gross profit rose by 43.8% to RMB 680.8 million, maintaining a stable gross margin of 6.7% [1] - Net profit attributable to shareholders surged by 120.4% to RMB 137 million, achieving a record net profit margin of 1.3% [1] Financial Performance - Adjusted net profit (non-IFRS) reached RMB 160.2 million, a 139% increase from RMB 67 million in the same period last year [1] - Revenue from same-city delivery services grew by 43.1% to RMB 5,778.7 million, while last-mile service revenue increased by 56.9% to RMB 4,457.3 million [1] Operational Highlights - The company enhanced brand recognition and marketing strategies, resulting in an active consumer base of 24.77 million as of June 30, 2025 [2] - The active rider network expanded to approximately 1.14 million, with rider efficiency improving by 38% year-on-year [2] - The number of high-income riders increased by 65%, and the number of riders earning over RMB 10,000 per month rose by 107% [2] Future Outlook - The company aims for "high-quality healthy growth," focusing on market opportunities in diversified traffic, food delivery, and instant retail [2] - Plans to invest in technology innovations such as unmanned delivery and AI, while collaborating with partners to enhance local service ecosystems [2] - The mission is to enable more people to enjoy a "zero-distance beautiful life" through improved services and network [2]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容所產生或因依賴 該等內容而引致的任何損失承擔任何責任。 Hangzhou SF Intra-city Industrial Co., Ltd. 杭州順豐同城實業股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：9699） 中期業績公告 截至2025年6月30日止六個月 杭州順豐同城實業股份有限公司（「本公司」）董事會（「董事會」）謹此宣佈，本公 司及其附屬公司（統稱「本集團」）於截至2025年6月30日止六個月（「報告期間」）的 業績連同截至2024年6月30日止六個月的比較數字。除另有界定者外，本公告所 用詞彙與本公司所刊發日期為2021年11月30日的招股章程（「招股章程」）所界定 者具有相同涵義。 於本公告中，「我們」指本公司及（除非文義另有規定）本集團。 財務摘要 1 • 我們的收入由截至2024年6月30日止六個月的人民幣6,878.5百萬元增加至 截至2025年6月30日止六個月的人民幣10,236.0百萬元，增長48.8%。 ...

Core Insights - The express delivery industry in China experienced significant growth in volume, with July 2025 seeing 16.4 billion parcels delivered, a year-on-year increase of 15.1%, and a total of 112.05 billion parcels from January to July, up 18.7% year-on-year [1] - The growth is driven by the trend towards smaller packages, e-commerce promotions, and convenient return policies, surpassing the postal administration's forecast of over 8% growth for the entire year [1] - Major players in the e-commerce express delivery sector, such as YTO, Yunda, and Shentong, reported year-on-year volume increases of 20.8%, 7.6%, and 11.9% respectively in July 2025, with year-to-date increases of 21.6%, 15.1%, and 19.3% [1] - SF Express led the industry with a 33.7% year-on-year increase in volume for July 2025, attributed to its operational strategies and incentives for frontline staff [1] - The Ministry of Finance and the State Administration of Taxation announced new VAT policies for express delivery services, effective immediately, which will impact revenue collection for express companies [1] - Industry average revenue per parcel decreased to 7.36 yuan in July 2025, down 5.33% year-on-year and 1.76% month-on-month, influenced by the trend towards smaller packages and ongoing price wars [1] - However, there are indications of potential price recovery in August 2025 due to a shift away from aggressive competition [1][2] Company Insights - Key players in the express delivery sector include ZTO Express, SF Holding, JD Logistics, and YTO International Express, all of which are listed on the Hong Kong stock exchange [3] - The report from Guohai Securities indicates that franchise express companies may see performance recovery in the context of reduced competition [1][2]

国海证券发布研报称，2025年7月，行业单票收入为7.36元，同比下降5.33%，环比下降1.76%。一方 面，快递小件化趋势下，对快递行业单票收入产生影响；另一方面，价格战7月仍延续，但8月反内卷背 景下，单票价格或有所修复。加盟快递在反内卷背景下，业绩有望修复。 智通财经APP获悉，2025年7月全国快递企业件量164.0亿件，同比+15.1%；2025年1-7月件量1120.5亿 件，同比+18.7%。 小件化趋势持续、电商促销且退换货便捷，共同驱动2025年前7个月件量增速超过邮管局对2025年全年 件量增速超8%的预测。 电商快递方面，圆通/韵达/申通2025年7月业务量分别同比+20.8%/+7.6%/+11.9%；1-7月业务量分别同比 +21.6%/+15.1%/ +19.3%。 直营快递方面，顺丰2025年7月业务量同比+33.7%；1-7月业务量同比+26.9%，得益于落实激活经营策 略，加大对前线业务的授权与激励，顺丰件量增速3-7月连续领跑行业。 8月12日，财政部、税务总局发布关于明确快递服务等增值税政策的公告，公告自发布之日起施行。其 中提到，快递企业提供快递服务取得的收入，按照" ...

（原标题：顺丰同城发盈喜，预计上半年公司拥有人应占利润同比增长不低于100%） 8月20日，顺丰同城发布公告，预计截至2025年6月30日的六个月内，公司拥有者应占利润将同比增长不 低于100%，而集团收入预计将同比增长不低于45%。该正面盈利预告主要归因于即时配送行业的快速 发展和需求增加，以及公司各项业务的均衡高质量发展，带动了订单量和收入的健康增长。 ...

发布公告，本期间(截至2025年6月30日止6个月)公司拥有人应占利润与去年同期相比，预期将取得不低 于100%的增长;及本期间集团收入与去年同期相比，预期将取得不低于45%的增长。 该预期的正面表现主要是由于以下原因： 即时配送行业加速发展，即时配送需求快速增加;集团各项业 务均衡高质发展，订单量和收入实现健康增长;以技术创新为驱动，持续提升数智化能力，独立第三方 定位、品牌和产品服务加速得到客户广泛认可;及精益的运营底盘提质增效，进一步提高网络规模经济 效应，提高资源投入产出效率，带动利润释放。 ...