Core Viewpoint - SF Express City (9699.HK) experienced a significant stock increase of over 9.4%, reaching a peak of HKD 15.69 following the announcement of its interim results, which exceeded market expectations [1] Financial Performance - The company reported a revenue of CNY 10.236 billion, representing a year-on-year growth of 48.8% [1] - Net profit reached CNY 137 million, marking a substantial increase of 120.4% year-on-year [1] - Adjusted net profit was CNY 160 million, reflecting a growth of 139% compared to the previous year [1] Business Segments - Revenue from merchant-oriented same-city delivery services amounted to CNY 4.47 billion, up 55% year-on-year, with the platform's active merchant count reaching 850,000, also a 55% increase [1] - Consumer-oriented same-city delivery services generated revenue of CNY 1.31 billion, showing a year-on-year growth of 13%, with active consumer count at 24.77 million [1] - Last-mile delivery services achieved revenue of CNY 4.46 billion, representing a 57% increase year-on-year [1] Analyst Ratings - CICC's research report indicated that SF Express City's interim performance was above expectations, maintaining an "outperforming the industry" rating and raising the target price by 38% to HKD 18.7 [1] - The company is expected to benefit from the ongoing growth in instant delivery demand, with net profit estimates for 2025 and 2026 increased by 18.5% and 42.6% to CNY 296 million and CNY 579 million, respectively [1]
港股异动｜顺丰同城涨超9.4% 上半年经调净利润同比大增139%