Core Viewpoint - SF Express City (顺丰同城) has made significant progress by launching its "SoFast" brand in Macau, marking an important step in its overseas business expansion after entering Hong Kong last year [1] Group 1: Business Expansion - The launch of "SoFast" in Macau is a strategic move to enhance its presence in the international market [1] - SF Express City has partnered with Macau's largest local service platform, "澳觅APP," to provide efficient and convenient same-city delivery services [1] Group 2: Financial Outlook - Daiwa has maintained a target price of HKD 20 for SF Express City and reiterated a "Buy" rating, indicating confidence in the company's growth potential [1] - Daiwa has raised its earnings per share forecast for SF Express City for 2025-2027 by 6-7%, reflecting better-than-expected revenue prospects [1] - The management expects revenue to more than double starting from 2025, indicating a positive long-term growth outlook [1] Group 3: Market Demand - There is a favorable trend in demand for instant delivery services, which is expected to continue benefiting the company's profitability [1]

Core Insights - SF Express's subsidiary, SF City, has officially launched its "SoFast" brand in Macau, marking a significant expansion of its overseas business following its entry into Hong Kong last year [1][3] Group 1: Strategic Partnerships - SF City has formed a strategic partnership with Macau's largest local service platform, "Aomi APP," to integrate resources and enhance delivery services for local merchants and users [3] - The collaboration aims to promote digital upgrades in Macau's local lifestyle services [3] Group 2: Service Offerings - "SoFast" will provide a comprehensive business matrix targeting both businesses (To B) and consumers (To C), covering a wide range of categories including food, flowers, and electronics, with delivery times as fast as one hour [3][4] - The service will be accessible through multiple channels, including the Aomi APP and SF Express APP, allowing users to experience point-to-point delivery services [3] Group 3: Market Potential - There is a growing demand for rapid and timely delivery services among Macau consumers, indicating significant growth potential in the local instant delivery market compared to mainland China [3][4] - SF City aims to leverage its successful experience in mainland China to enhance its service offerings in the Hong Kong and Macau regions, potentially expanding into other overseas markets in the future [4]

Core Insights - SF Express's subsidiary, SF City, has officially launched its "SoFast" brand in Macau, marking a significant expansion of its overseas business following its entry into Hong Kong last year [2] - The partnership with Macau's largest local service platform, "Aomi APP," aims to enhance the efficiency and convenience of local delivery services, promoting digital upgrades in Macau's lifestyle [2] - The "SoFast" service will cover a wide range of delivery categories, including food and non-food items, with delivery times as fast as one hour [2][3] Business Model and Strategy - SF City will establish a business matrix targeting both merchants (To B) and consumers (To C) in Macau, providing point-to-point delivery services through various channels [2][3] - The initial delivery range will focus on the Macau Peninsula, catering to the growing demand for instant delivery among local residents [3] - The company plans to integrate more merchant brands and delivery platforms, expanding its service offerings and enhancing collaboration with SF Group to optimize last-mile delivery solutions [5] Market Potential - The demand for fast and timely delivery services in Macau has been increasing, indicating significant growth potential in the region's instant delivery market compared to mainland China [5] - SF City aims to leverage its successful experience in mainland China's third-party delivery model to invigorate the instant delivery market in Hong Kong and Macau [5] - The company’s experience in the Greater Bay Area is expected to provide a solid foundation for future expansion into other overseas markets [5]

Core Insights - SF Express has officially launched its "SoFast" brand in Macau, following its entry into Hong Kong in July of the previous year [1] - The company has formed a strategic partnership with the local lifestyle service platform "Aomi App" to integrate resources and provide one-stop same-city delivery services for merchants and users in Macau [1] Company Developments - The launch of "SoFast" in Macau represents an expansion of SF Express's service offerings in the region, enhancing its market presence [1] - The collaboration with "Aomi App" aims to leverage both companies' strengths to improve service efficiency and customer experience in local delivery [1]

Group 1 - The core point of the article is that the third-party instant delivery platform SF Express City has launched its "SoFast" brand in the Macau Special Administrative Region, marking another step in its overseas expansion after entering the Hong Kong market last July [1] - SF Express City has established a strategic partnership with "Aomi App," the largest lifestyle service platform in Macau, to enhance its service offerings [1] - The initial delivery coverage will focus on the Macau Peninsula, indicating a targeted approach to market entry [1]

Group 1 - Keep has formed a strategic partnership with SF Express, covering online, offline, and rider festival modules [1] - The online aspect includes the launch of "SF Express Rider Sports Circle" by Keep, providing course resources and showcasing rider performance data, with an expected daily active user count of 30,000 [1] - SF Express will host eight offline events annually, incentivized with Keep medals, and special gifts will be provided for riders during the Rider Festival [1] Group 2 - Keep has launched an AI coach named Kaka, which customizes training plans based on user needs and supports basic Q&A [1] - The company plans to upgrade its app to version 9.0 by 2025, leveraging large models to create an AI Agent for the smart era [2] - Kinetic.ai has developed a specialized model for Keep, enhancing its performance in the sports health sector based on extensive data and expertise [2] Group 3 - Keep is projected to achieve profitability in the first half of 2025, marking its first semi-annual profit since inception [3]

Core Insights - FTSE Russell updated its FTSE Global Equity Index Series, including several Hong Kong stocks in the FTSE China Small Cap Index, effective after market close on September 19 [1] - The inclusion of stocks like Ninebot Holdings (09636) reflects international capital market recognition of their future growth potential and long-term investment value [1] - This adjustment is expected to attract additional capital inflows, enhance liquidity in the secondary market, and increase global market visibility for the companies involved [1] Company Impact - Ninebot Holdings (09636) and others included in the index are likely to benefit from increased attention and credibility in the global capital markets due to the endorsement by a well-known index [1] - The inclusion in the FTSE Russell indices signifies a positive outlook for these companies, potentially leading to a rise in stock prices and investor interest [1] - The FTSE Russell indices are widely used by global institutional and retail investors, with approximately $20 trillion in assets benchmarked to these indices, indicating significant market influence [1]

Core Viewpoint - The inclusion of stocks such as 九方智投控股 (09636) and others in the FTSE Global Equity Index Series reflects international capital market recognition of their future development potential and long-term investment value [1] Group 1: Index Inclusion - 九方智投控股 (09636), 和誉-B (02256), 第四范式 (06682), 科济药业-B (02171), and 顺丰同城 (09699) have been added to the FTSE China Small Cap Index, effective after market close on September 19 [1] - The FTSE Russell is a leading player in the global index industry, providing benchmarks, analytics, and data solutions widely used by institutional and retail investors [1] Group 2: Market Impact - The inclusion in the FTSE Russell Global Equity Index Series is expected to bring more potential incremental capital inflows to the companies' stocks, enhancing liquidity in the secondary market [1] - The endorsement from a globally recognized index is likely to increase the companies' visibility and recognition in the global capital markets, aiding in the realization of their long-term investment value [1]

Core Viewpoint - Daiwa maintains a target price of HKD 20 for SF Express (09699) and reiterates a "Buy" rating, reflecting a positive outlook on the company's revenue growth prospects [1] Group 1: Earnings Forecast - Daiwa has raised its earnings per share forecast for SF Express for 2025-2027 by 6-7%, indicating better-than-expected revenue prospects [1] - The company anticipates that revenue will more than double starting in 2025, driven by increasing customer convenience demands [1] Group 2: Market Share and Partnerships - SF Express aims to increase its market share to 50%, with a partnership with Sam's Club to handle 50% of new warehouse orders, although this will only contribute 1% to SF Express's revenue [1] - The company expects to secure more cooperative orders from existing warehouses in the future [1] Group 3: E-commerce Growth - SF Express is expected to benefit from an increase in parcel volumes from its parent company's e-commerce operations [1]

Core Viewpoint - Daiwa maintains a target price of HKD 20 for SF Express (09699) and reiterates a "Buy" rating, reflecting a positive outlook on the company's revenue growth prospects [1] Group 1: Earnings Forecast - Daiwa has raised its earnings per share forecast for SF Express for the years 2025-2027 by 6-7%, indicating better-than-expected revenue prospects [1] - The management anticipates that revenue will more than double starting from 2025 over the next 3-5 years [1] Group 2: Revenue Growth Drivers - The company is expected to benefit from a growing demand for customer convenience, which is likely to sustain long-term revenue growth [1] - SF Express aims to increase its market share to 50%, and its partnership with Sam's Club will enable it to handle 50% of Sam's new warehouse orders, although this will only contribute 1% to SF Express's revenue [1] - The company is expected to secure more cooperative orders from existing warehouses in the future [1] - SF Express is also projected to benefit from an increase in e-commerce parcel volumes from its parent company [1]