Core Viewpoint - SF Holding (06936.HK) reported a total revenue of RMB 24.847 billion for its express logistics, supply chain, and international business in July 2025, representing a year-on-year growth of 9.95% [1] Group 1: Express Logistics Business - Revenue from express logistics business increased by 14.97% year-on-year, with business volume growing by 33.69%, indicating a strong growth trend [1] - The growth is attributed to the company's implementation of activation strategies, increased authorization and incentives for frontline operations, and enhanced operational support [1] - The company has strengthened its standard product and comprehensive logistics service capabilities, effectively meeting diverse customer needs across manufacturing and consumer logistics scenarios [1] Group 2: International Business - The international freight market demand has softened due to fluctuations in international trade, leading to a significant decline in sea freight prices compared to last year's highs [1] - Despite market changes, the company leveraged its global network and diversified business layout to adapt flexibly, actively exploring new demand [1] - Revenue from international express and cross-border e-commerce logistics businesses has seen rapid growth [1]

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。 S.F. Holding Co., Ltd. 順豐控股股份有限公司 上述資料未經審計，與定期報告資料可能存在差異，僅供投資者參考。相關資 料以公司定期報告為準。 股東及潛在投資者於買賣本公司證券時應注意投資風險並審慎行事。 承董事會命 （於中華人民共和國註冊成立的股份有限公司） （股份代號：6936） 2 025 年 7 月快遞物流業務經營簡報 根據《深圳證券交易所上市公司自律監管指引第3號 — 行業信息披露》的規定， 順豐控股股份有限公司（以下簡稱「公司」或「本公司」）現披露2025年7月業務經 營簡報情況如下： | 項目 | | 2025年7月 | 2024年7月 | 同比變動 | | --- | --- | --- | --- | --- | | 1. | 速運物流業務 | | | | | | 營業收入 （人民幣億元） | 186.57 | 162.28 | 14.97% | | | （億票） －業 ...

Core Insights - SF Express reported its logistics revenue for July at 18.657 billion yuan, representing a year-on-year growth of 14.97% [1] - The total business volume reached 1.377 billion packages, showing a significant increase of 33.69% compared to the previous year [1] - The average revenue per package was 13.55 yuan, which reflects a decline of 14.02% year-on-year [1]

Core Insights - SF Holding reported a total revenue of 24.847 billion yuan in July, marking a year-on-year increase of 9.95% [1] - The express logistics business generated revenue of 18.657 billion yuan, reflecting a year-on-year growth of 14.97%, with a business volume of 1.377 billion parcels, a significant increase of 33.69% [1] - The supply chain and international business achieved revenue of 6.190 billion yuan [1] Group 1 - The substantial growth in business volume is attributed to the company's precise grasp of new consumer trends, focusing on "experiential, personalized, and scenario-based" demands [1] - SF Holding has upgraded its services from "basic delivery" to "scenario embedding," deeply penetrating sectors like tourism and theme parks to resonate with new consumer needs [1] - During the summer travel peak, SF Holding targeted the "light travel + instant enjoyment" demand, collaborating with local cultural and tourism departments to build a "tourism + logistics" service ecosystem [1] Group 2 - In August, the seasonal demand for "fresh delivery" became a core consumer expectation, prompting SF Holding to leverage this opportunity with a full-chain service system from "direct sourcing to transportation assurance to last-mile delivery" [2] - The company launched large-item cold chain services to comprehensively cover various customer delivery needs, further solidifying its service advantages in coastal production areas [2] - SF Holding is steadily advancing its global layout, having opened an international cargo route connecting Hubei Ezhou, Abu Dhabi, Hanoi, and back to Hubei Ezhou, enhancing its logistics network across major cities in the Middle East and Southeast Asia [2] Group 3 - International investment banks and domestic funds have shown positive recognition of SF Holding's long-term value, with Morgan Stanley upgrading its A-share rating to "overweight" [2] - Several high-profile funds, including E Fund Blue Chip Select, increased their holdings in SF Holding's A-shares in the second quarter [2] - JPMorgan also increased its holdings in SF Holding's H-shares in August, indicating strong market confidence in the company's profit scale and cash flow stability [2]

Core Insights - SF Holding announced that the combined revenue from express logistics, supply chain, and international business for July was RMB 24.847 billion, representing a year-on-year growth of 9.95% [1] - The express logistics business revenue grew by 14.97% year-on-year, with a business volume increase of 33.69% [1] - The international freight market demand has softened due to fluctuations in international trade, and sea freight prices have significantly declined from last year's high levels [1]

Core Insights - SF Holding reported a total revenue of 24.847 billion yuan in July, marking a year-on-year increase of 9.95% [1] - The express logistics business generated revenue of 18.657 billion yuan, up 14.97% year-on-year, with a business volume of 1.377 billion packages, reflecting a significant growth of 33.69% [1] Group 1: Business Performance - In July, SF Express achieved a business volume of 1.377 billion packages, driven by the deep penetration into new consumption scenarios [2] - The company is transitioning from a "logistics service provider" to an "IP consumption scenario partner," enhancing its market share in new consumption trends [2][3] Group 2: Customized Services - SF Express launched tailored services in popular tourist destinations like Dali and Lijiang, focusing on "post-purchase instant delivery" and "light travel" needs [3] - The company introduced the "SF Easy Travel" service in Yunnan, allowing travelers to send luggage directly from the airport to hotels or attractions [3] Group 3: Regional Strategies - SF Express has established a direct transportation network to 26 major cities in Hainan, enhancing its service offerings to B-end clients [4] - The company is expanding its cold chain services and integrating high-speed rail resources to improve delivery efficiency [4] Group 4: Global Expansion - In July, SF's supply chain and international business generated nearly 6.19 billion yuan, with significant developments in its global logistics network [5] - The new logistics warehouse in Melbourne marks a key milestone in SF's operations in Australia, enhancing its cross-border logistics capabilities [5] Group 5: Market Recognition - Major international investment banks and domestic funds have shown positive recognition of SF Holding's long-term value, with Morgan Stanley upgrading its A-share rating to "overweight" [6] - Increased investments from prominent funds indicate strong market confidence in SF's profit growth and cash flow stability [6]

Core Insights - SF Holding (002352.SZ) reported a total revenue of RMB 24.847 billion for its express logistics, supply chain, and international business in July 2025, representing a year-on-year growth of 9.95% [1] - The express logistics business generated revenue of RMB 18.657 billion, showing a year-on-year increase of 14.97%, with a total volume of 1.377 billion parcels, up by 33.69% year-on-year [1] Business Performance - The express logistics business maintained a strong growth momentum, attributed to the company's implementation of activation strategies and increased authorization and incentives for frontline operations [1] - The company enhanced its operational support investments, strengthened standard product offerings, and improved comprehensive logistics service capabilities [1] - SF Holding continued to penetrate various logistics scenarios in manufacturing and consumer sectors, effectively meeting diverse customer needs [1]

Core Insights - SF Holding (002352.SZ) reported a total revenue of RMB 24.847 billion for its express logistics, supply chain, and international business in July 2025, representing a year-on-year growth of 9.95% [1] - The express logistics business generated revenue of RMB 18.657 billion, showing a year-on-year increase of 14.97%, with a business volume of 1.377 billion parcels, up 33.69% year-on-year [1] - The growth in the express logistics business is attributed to the company's implementation of activation strategies, increased authorization and incentives for frontline operations, enhanced operational support, and improved standard products and comprehensive logistics service capabilities [1] Revenue Breakdown - Total revenue for express logistics, supply chain, and international business in July 2025 was RMB 24.847 billion, a 9.95% increase from the previous year [1] - Revenue from express logistics alone was RMB 18.657 billion, reflecting a 14.97% year-on-year growth [1] - The business volume for express logistics reached 1.377 billion parcels, marking a significant increase of 33.69% year-on-year [1] Strategic Initiatives - The company has focused on deepening the implementation of activation strategies to drive growth [1] - Increased authorization and incentives for frontline business operations have been a key factor in enhancing performance [1] - Investments in operational support and the strengthening of standard products and comprehensive logistics services have contributed to meeting diverse customer needs [1]

证券代码：002352 证券简称：顺丰控股 公告编号：2025-057 顺丰控股股份有限公司 2025年7月快递物流业务经营简报 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 注： 1、速运物流业务：主要包括公司的时效快递、经济快递、快运、冷运及医药、同城即时配送业务板块。 2、供应链及国际业务：主要包括公司的国际快递、国际货运及代理、供应链业务板块。 3、以上收入不含公司其他非物流业务收入。 公司2025年7月速运物流业务、供应链及国际业务合计收入为人民币248.47 亿元，同比增长9.95%。其中：（1）速运物流业务收入同比增长14.97%，业务 量同比增长33.69%，保持良好增长态势，主要得益于公司深化落实激活经营策略， 加大对前线业务的授权与激励；同时提升运营保障的投入，强化标准产品及综合 物流服务能力，持续渗透生产制造和生活消费各类物流场景，有效满足客户多元 化业务需求。（2）受到国际贸易波动影响，国际货运市场需求趋缓，海运价格 1 根据《深圳证券交易所上市公司自律监管指引第 3 号——行业信息披露》的 规定，顺丰控股股份有限公司（以下简称"公司 ...

Group 1 - The core point of the article is that SF Holding (002352) reported a total revenue of 24.847 billion yuan from its express logistics, supply chain, and international businesses in July, representing a year-on-year growth of 9.95% [1]