Core Insights - SF Express City achieved a revenue growth of 27.1% year-on-year for the fiscal year 2024, reaching approximately 15.746 billion RMB, with a net profit of about 133 million RMB, marking a significant increase of 161.8% compared to the previous year [1][3][10] Financial Performance - The gross profit increased by 34.8% year-on-year to approximately 1.072 billion RMB, with a gross margin rising for seven consecutive years to 6.8% [1][3] - Revenue from same-city delivery services was 9.121 billion RMB, a growth of 23.5%, while last-mile delivery services generated 6.625 billion RMB, up 32.5% [7] - The number of active merchants on the platform reached 650,000, a 39% increase year-on-year, with significant growth in key account customers [7][11] Competitive Landscape - SF Express City turned profitable again after achieving profitability in 2023, contrasting with competitors like Dada and Flash Delivery, which have not yet turned a profit [1] - The competition in the instant delivery market is intensifying, with major players like Meituan and JD exploring the instant retail and takeaway markets [1][12] Technological Investment - The management emphasized a strong commitment to AI and unmanned delivery technologies, with plans to increase investments in these areas to enhance cost efficiency and service quality [2][9][13] - R&D expenditure for 2024 was reported at 637 million RMB, a 23.1% increase, with efficiency improvements of 10% to 20% already realized through AI model applications [12][13] Operational Strategy - The company has been providing social insurance for full-time riders since its inception in 2016, which is expected to have a manageable impact on costs [11] - SF Express City is exploring new business scenarios in lower-tier cities, including campus delivery services and collaborations with local life platforms [8][11]
财报电话会上近30次提到AI和技术，即时配送竞争升级，顺丰同城如何杀出重围？