(本文来自第一财经) 顺丰控股在港交所公告，2025年上半年营收1468.58亿元，同比增长9.26%；净利润57.38亿元，同比增 长19.37%。 ...

Core Insights - The company reported a total operating revenue of 146.9 billion RMB for the first half of 2025, representing a year-on-year growth of 9.3% [1] - The total parcel volume reached 7.85 billion, with a year-on-year increase of 25.7%, outpacing the overall growth rate of the express delivery industry [1] - Net profit attributable to shareholders was 5.74 billion RMB, up 19.4% year-on-year, with a profit margin of 3.9%, an increase of 0.3 percentage points [1] Financial Performance - The company’s total assets stood at 218.2 billion RMB, with equity attributable to shareholders at 95.4 billion RMB, and a debt-to-asset ratio of 51.35%, down 0.79 percentage points from the end of 2024 [1] - The weighted average return on equity for the first half of 2025 was 6.07%, an increase of 0.84 percentage points compared to the same period last year [1] - The net cash flow from operating activities was 12.9 billion RMB, indicating strong cash flow, while free cash flow increased by 6.1% to 8.74 billion RMB [1] Business Segments - The express freight business generated a revenue of 19.57 billion RMB, growing 11.5% year-on-year, with a volume increase of 28% [2] - The economy express business achieved a revenue of 15.16 billion RMB, up 14.4% year-on-year, with a volume growth of 29.6% [2] - The same-city instant delivery service reported a revenue of 5.49 billion RMB, reflecting a significant year-on-year growth of 38.9% [2] Operational Expansion - The company expanded its global air freight network, with over 6,800 international cargo flights in the first half of 2025, an increase of 84% [2] - The Asia-Pacific region's air network density is among the highest in the industry, with peak weekly cargo flights reaching 192, including 72 flights from China to India [2] - The company has established overseas warehouses totaling over 2.5 million square meters, with more than 2.1 million square meters in the Asia-Pacific region, covering key countries such as Singapore, Malaysia, and Japan [2] Client Base - Over 60% of the Fortune China 500 companies have utilized the company's international services in the first half of 2025, showcasing its strong market presence [3]

智通财经APP讯，顺丰控股(06936)发布截至2025年6月30日止6个月中期业绩，该集团取得营业收入人民 币1468.58亿元(单位下同)，同比增加9.26%;毛利190.6亿元，同比增加4.08%;归属于本公司所有者的利润 57.38亿元，同比增加19.37%;基本每股收益1.16元，拟向全体股东每10 股派发中期现金红利人民币4.6元 (含税)。 2025年上半年，公司在市场竞争中突出重围，通过深化激活经营、加速行业渗透、聚力拓展国内国际新 市场，业务规模实现快速增长。总营业收入达成1469亿元，同比增长 9.3%，总件量达成78.5亿票，同 比增长25.7%，件量增速高于快递行业整体水平。 在细分业务收入层面，①速运物流业务收入1093亿元，同比增长10.4%，其中第二季度的同比增长较第 一季度有所提速。主要得益于公司持续完善产品矩阵及强化服务竞争力，不断渗透国内生产制造及生活 消费领域客户的端到端物流场景，稳步扩大业务规模。②供应链及国际业务收入342亿元，同比增长 9.7%。尽管由于第二季度复杂多变的国际贸易政策影响了国际货运代理业务增速，但公司凭藉完善的 全球网络布局、丰富国际产品体系及关键国 ...

Core Insights - The company reported a revenue of RMB 146.86 billion for the six months ending June 30, 2025, representing a year-on-year increase of 9.26% [1] - The gross profit reached RMB 19.06 billion, up 4.08% year-on-year, while the profit attributable to shareholders was RMB 5.738 billion, reflecting a 19.37% increase [1] - The basic earnings per share were RMB 1.16, with a proposed interim cash dividend of RMB 4.6 per 10 shares [1] Revenue Breakdown - The express logistics business generated revenue of RMB 109.3 billion, a year-on-year increase of 10.4%, with accelerated growth in the second quarter compared to the first [2] - Supply chain and international business revenue was RMB 34.2 billion, up 9.7% year-on-year, despite challenges from international trade policies [2] - Other non-logistics business revenue amounted to RMB 3.3 billion, primarily from the procurement of raw materials or equipment within the end-to-end supply chain services [2] Profitability and Cost Management - The company achieved a gross profit of RMB 19.1 billion in the first half of 2025, a 4.1% year-on-year increase, with a gross margin of 13.0%, down 0.6 percentage points [3] - The company adopted flexible business strategies to expand its scale and improve asset efficiency, which helped mitigate the impact of increased competition and uncertain international trade conditions [3] - Management and R&D expense ratios decreased by 0.5 and 0.2 percentage points respectively, while the sales expense ratio slightly increased by 0.1 percentage points due to accelerated sales team development [3]

人民财讯8月28日电，顺丰控股（002352）在港交所披露中期业绩，上半年营业收入1469亿元，同比增 长9.3%；归母净利润57.4亿元，同比增长19.4%；拟每10股派发中期现金红利4.6元(含税)。 ...

顺丰控股在港交所公告，2025年上半年营收1468.58亿元，同比增长9.26%；净利润57.38亿元，同比增 长19.37%。 （文章来源：第一财经） ...

顺丰控股：上半年营收1,469亿元人民币，净利润57.4亿元人民币。 ...

Market Overview - On August 28, the logistics sector rose by 1.1%, with YTO Express leading the gains [1] - The Shanghai Composite Index closed at 3843.6, up 1.14%, while the Shenzhen Component Index closed at 12571.37, up 2.25% [1] Individual Stock Performance - YTO Express (600233) closed at 18.25, with a gain of 6.17% and a trading volume of 378,700 shares, amounting to a transaction value of 672 million [1] - Milkway (603713) closed at 67.01, up 5.76%, with a trading volume of 39,900 shares and a transaction value of 257 million [1] - Other notable performers include: - Jiayou International (603871) at 12.31, up 3.62% [1] - Jianfa Co. (600153) at 11.69, up 2.81% [1] - SF Express (002352) at 48.40, up 1.02% [1] Fund Flow Analysis - The logistics sector experienced a net outflow of 319 million from institutional investors, while retail investors saw a net inflow of 291 million [2] - Notable net inflows from retail investors include: - YTO Express with a net inflow of 29.22 million [3] - Milkway with a net inflow of 23.49 million [3] - Conversely, significant net outflows from institutional investors were observed in: - Milkway with a net outflow of 25.99 million [3] - SF Express with a net outflow of 22.76 million [3]

Core Insights - The National Federation of Industry and Commerce has released the list of the top 100 private service enterprises in China for 2025, highlighting significant players in the service industry [1]. Group 1: Top Companies - JD Group ranks first with a total revenue of 115.88 billion yuan [2]. - Alibaba (China) Limited follows in second place with a revenue of 98.18 billion yuan [2]. - Tencent Holdings Limited is third, generating 66.03 billion yuan in revenue [2]. - Meituan (Beijing Sankuai Online Technology Co., Ltd.) is fourth with a revenue of 33.76 billion yuan [2]. - The fifth position is held by Taikang Insurance Group Co., Ltd. with 32.71 billion yuan [2]. Group 2: Additional Notable Companies - SF Holding Co., Ltd. ranks sixth with a revenue of 28.44 billion yuan [2]. - Didi Chuxing (Beijing Didi Infinity Technology and Development Co., Ltd.) is eighth, reporting 20.68 billion yuan [2]. - Ant Group (Ant Technology Group Co., Ltd.) is ninth with a revenue of 17.78 billion yuan [2]. - The tenth position is occupied by Zhongsheng (Dalian) Group Co., Ltd. with 16.81 billion yuan [2]. Group 3: Revenue Distribution - The list includes companies from various provinces, with a significant concentration in Beijing and Zhejiang [2][3]. - The revenue figures reflect the growing importance of private enterprises in China's service sector, indicating a robust economic landscape [1].

Core Viewpoint - The establishment of the Zhuhai International Air Cargo Hub marks a significant advancement in logistics efficiency for the Pearl River Delta region, enabling faster and more cost-effective transportation of goods to Southeast Asia [1][3][5] Group 1: Operational Highlights - The first international cargo flight operated by SF Airlines successfully transported 18 tons of automotive parts, 3C electronic products, and apparel from Zhuhai to Hanoi, Vietnam, in just 2 hours [3][5] - The new cargo hub is expected to save at least 2 hours of transit time and reduce logistics costs by 10% compared to previous routes through Guangzhou and Shenzhen [3] Group 2: Infrastructure and Capacity - The Zhuhai International Cargo Port was constructed and approved for temporary operation in just 6 months, setting a new record for the establishment of a civil aviation cargo port in China [5] - The cargo port covers an area of 64,700 square meters with a building area of 29,500 square meters, featuring five functional zones to streamline the entire logistics process [5] - The design capacity of the cargo port is set at 150,000 tons per year, allowing for immediate inspection of goods upon arrival [5] Group 3: Future Developments - The Zhuhai Airport plans to expand its international air cargo network, aiming to open more routes to Asia and intercontinental destinations [5] - The goal is to achieve a throughput of 15,000 tons of cargo and mail, paving the way for the formal opening of the cargo port [5]