SF Holding(SZ:002352) Huan Qiu Wang·2025-12-19 23:02Core Insights - The express delivery industry in Tibet is experiencing rapid growth, with significant increases in package delivery and consumer engagement [1][2] Group 1: Industry Growth - The overall express delivery volume in China is projected to grow from approximately 83 billion packages in 2020 to 175 billion packages by 2024, reflecting an annual growth rate of around 20% [1] - In Tibet, the annual order volume for SF Express has surged from about 4 million orders five years ago to 14 million orders last year, indicating a rise in consumer willingness and purchasing power [1] Group 2: Consumer Experience - The average delivery time for packages from other provinces has improved significantly, with many now arriving within 4 to 7 days, compared to previous delays [2] - The online retail sales in Tibet reached 18.07 billion yuan in the first half of 2025, marking a year-on-year increase of 38.6%, with physical goods accounting for 86.1% of this total, also showing a growth of 39.3% [1] Group 3: Logistics Innovations - SF Express has implemented a "land + air" transportation model to enhance efficiency and reduce costs, while local postal authorities encourage the establishment of local and remote warehouses to lower overall logistics costs [2] - The government is actively supporting the development of a modern delivery logistics system extending to rural areas, providing subsidies for the construction of grassroots logistics systems [2]