SF Holding(SZ:002352) Zheng Quan Shi Bao Wang·2025-08-28 13:09Core Viewpoint - SF Holding reported strong revenue and profit growth for the first half of 2025, demonstrating resilience and competitive strength in the logistics industry despite increasing competition and changing market demands [1][2]. Financial Performance - In H1 2025, SF Holding achieved revenue of 146.858 billion yuan, a year-on-year increase of 9.26%, with net profit attributable to shareholders reaching 5.738 billion yuan, up 19.37% [1][2]. - The earnings per share rose to 1.16 yuan, reflecting a 16.00% increase compared to the previous year [1]. - The net profit margin improved to 3.9%, an increase of 0.3 percentage points year-on-year, while free cash flow reached 8.74 billion yuan, up 6.1% [2]. Business Growth - The express logistics business volume reached 7.85 billion parcels, with a year-on-year growth of 25.7%, significantly outpacing the industry average growth rate of 19.3% [2]. - Monthly growth rates for the express logistics business accelerated, with July showing a remarkable increase of 33.69% compared to the industry average of 15.1% [2]. New Business Development - SF Holding's new business segments, particularly in express delivery and same-city instant delivery, have become key growth drivers, with the express delivery revenue reaching 109.3 billion yuan, a 10.4% increase [3][4]. - The express delivery segment has expanded into new markets, including high-end manufacturing and new energy vehicles, while the same-city delivery business saw revenue surge by 38.9% to 5.49 billion yuan [4]. Supply Chain and International Business - The supply chain and international business segments generated revenue of 34.23 billion yuan, a 9.7% increase, with over 95% of Fortune China 500 companies collaborating with SF Holding [5]. - SF Holding's international operations are supported by a robust logistics network, including over 2.5 million square meters of overseas warehouses [5][6]. Strategic Developments - The establishment of the Ezhou cargo hub is enhancing SF Holding's logistics efficiency, with 59 domestic and 19 international routes opened by mid-2025 [6]. - The hub is positioned as a key player in global logistics, attracting trade and industry to accelerate growth [6]. Shareholder Returns - SF Holding announced a mid-term cash dividend of 4.6 yuan per 10 shares, totaling approximately 2.32 billion yuan, which represents 40% of the net profit attributable to shareholders for H1 2025 [7]. - This increase in dividend reflects the company's strong cash flow and financial stability, as well as management's confidence in future business growth [7].