Core Viewpoint - SF Express's performance in the first half of 2025 shows a strong revenue growth of 48.8%, driven by city delivery and last-mile services, with a net profit margin reaching a historical high of 1.3% [1][2] Revenue Performance - The total revenue for the first half of 2025 was 10.24 billion RMB, representing a year-on-year increase of 48.8%, with external customer revenue accounting for 54.5%, a decrease of 4 percentage points [1] - City delivery revenue reached 5.78 billion RMB, up 43.1% year-on-year, making up 56.5% of total revenue, while non-food delivery revenue was 2.14 billion RMB, increasing by 28.6% [2] Profitability Metrics - Gross profit increased by 43.8% to approximately 680 million RMB, with a slight decline in gross margin to 6.7%, maintaining a historically optimal level [1] - Net profit for the first half was approximately 137 million RMB, a significant year-on-year growth of 171%, with an adjusted net profit of about 160 million RMB [1] Cash Flow - Operating cash inflow for the first half was approximately 180 million RMB, showing a substantial year-on-year increase of 86% [1]
顺丰同城(9699.HK)2025中报：第三方即时配送价值突显 内外单双轮驱动 利润率再达新高