Core Insights - The company reported a total revenue of RMB 24.847 billion for July 2025, representing a year-on-year growth of 9.95% [2] - The express logistics business revenue grew by 14.97% year-on-year, with a business volume increase of 33.69%, attributed to the implementation of operational strategies and enhanced service capabilities [2] - The international freight market faced demand fluctuations due to international trade volatility, but the company maintained stable volumes in international freight forwarding and saw rapid growth in international express and cross-border e-commerce logistics [2] Revenue Breakdown - Total revenue for express logistics and supply chain & international business combined was RMB 24.847 billion, with express logistics contributing significantly to the growth [2] - Express logistics business revenue growth was driven by increased operational authorizations and incentives, as well as improved service capabilities [2] - International freight market conditions were challenging, with a notable decline in sea freight prices compared to last year, yet the company adapted by leveraging its global network [2]

Core Viewpoint - SF Holding (002352.SZ) reported a revenue of RMB 24.847 billion for its express logistics, supply chain, and international business in July 2025, representing a year-on-year growth of 9.95% [1] Revenue Breakdown - The express logistics business revenue grew by 14.97% year-on-year, with a business volume increase of 33.69%, indicating a strong growth trend [1] - The growth is attributed to the company's implementation of activation strategies, increased authorization and incentives for frontline operations, and enhanced operational support [1] Operational Enhancements - The company has focused on strengthening standard products and comprehensive logistics service capabilities [1] - Continuous penetration into various logistics scenarios in manufacturing and consumer sectors effectively meets diverse customer business needs [1]

Core Viewpoint - SF Holding (002352) (06936) reported a total revenue of RMB 24.847 billion for its express logistics, supply chain, and international business in July 2025, representing a year-on-year growth of 9.95% [1] Group 1: Express Logistics Business - Revenue from express logistics business increased by 14.97% year-on-year, with business volume growing by 33.69%, indicating a strong growth trend [1] - The growth is attributed to the company's implementation of activation strategies, increased authorization and incentives for frontline operations, and enhanced operational support [1] - The company has strengthened its standard product and comprehensive logistics service capabilities, effectively meeting diverse customer needs across manufacturing and consumer logistics scenarios [1] Group 2: International Business - The international freight market demand has softened due to fluctuations in international trade, with sea freight prices significantly declining from last year's high levels [1] - Despite market changes, the company leveraged its global network and diversified business layout to adapt flexibly, actively exploring new demands [1] - Revenue from international express and cross-border e-commerce logistics businesses experienced rapid growth [1]

Core Viewpoint - SF Holding (06936) reported a total revenue of RMB 24.847 billion for its express logistics, supply chain, and international business in July 2025, representing a year-on-year growth of 9.95% [1] Group 1: Express Logistics Business - Revenue from express logistics business increased by 14.97% year-on-year, with business volume growing by 33.69%, indicating a strong growth trend [1] - The growth is attributed to the company's implementation of activation strategies, increased authorization and incentives for frontline operations, and enhanced operational support [1] - The company has strengthened its standard product and comprehensive logistics service capabilities, effectively meeting diverse customer needs across manufacturing and consumer logistics scenarios [1] Group 2: International Business - The international freight market demand has softened due to fluctuations in international trade, with sea freight prices significantly declining from last year's high levels [1] - Despite market changes, the company leveraged its global network and diversified business layout to adapt flexibly, actively exploring new demands [1] - Revenue from international express and cross-border e-commerce logistics has seen rapid growth [1]

Core Viewpoint - SF Holding (06936.HK) reported a total revenue of RMB 24.847 billion for its express logistics, supply chain, and international business in July 2025, representing a year-on-year growth of 9.95% [1] Group 1: Express Logistics Business - Revenue from express logistics business increased by 14.97% year-on-year, with business volume growing by 33.69%, indicating a strong growth trend [1] - The growth is attributed to the company's implementation of activation strategies, increased authorization and incentives for frontline operations, and enhanced operational support [1] - The company has strengthened its standard product and comprehensive logistics service capabilities, effectively meeting diverse customer needs across manufacturing and consumer logistics scenarios [1] Group 2: International Business - The international freight market demand has softened due to fluctuations in international trade, leading to a significant decline in sea freight prices compared to last year's highs [1] - Despite market changes, the company leveraged its global network and diversified business layout to adapt flexibly, actively exploring new demand [1] - Revenue from international express and cross-border e-commerce logistics businesses has seen rapid growth [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容所產生或因 依賴該等內容而引致的任何損失承擔任何責任。 S.F. Holding Co., Ltd. 順豐控股股份有限公司 上述資料未經審計，與定期報告資料可能存在差異，僅供投資者參考。相關資 料以公司定期報告為準。 股東及潛在投資者於買賣本公司證券時應注意投資風險並審慎行事。 承董事會命 （於中華人民共和國註冊成立的股份有限公司） （股份代號：6936） 2 025 年 7 月快遞物流業務經營簡報 根據《深圳證券交易所上市公司自律監管指引第3號 — 行業信息披露》的規定， 順豐控股股份有限公司（以下簡稱「公司」或「本公司」）現披露2025年7月業務經 營簡報情況如下： | 項目 | | 2025年7月 | 2024年7月 | 同比變動 | | --- | --- | --- | --- | --- | | 1. | 速運物流業務 | | | | | | 營業收入 （人民幣億元） | 186.57 | 162.28 | 14.97% | | | （億票） －業 ...

Core Insights - SF Holding reported a total revenue of 24.847 billion yuan in July, marking a year-on-year increase of 9.95% [1] - The express logistics business generated revenue of 18.657 billion yuan, reflecting a year-on-year growth of 14.97%, with a business volume of 1.377 billion parcels, a significant increase of 33.69% [1] - The supply chain and international business achieved revenue of 6.190 billion yuan [1] Group 1 - The substantial growth in business volume is attributed to the company's precise grasp of new consumer trends, focusing on "experiential, personalized, and scenario-based" demands [1] - SF Holding has upgraded its services from "basic delivery" to "scenario embedding," deeply penetrating sectors like tourism and theme parks to resonate with new consumer needs [1] - During the summer travel peak, SF Holding targeted the "light travel + instant enjoyment" demand, collaborating with local cultural and tourism departments to build a "tourism + logistics" service ecosystem [1] Group 2 - In August, the seasonal demand for "fresh delivery" became a core consumer expectation, prompting SF Holding to leverage this opportunity with a full-chain service system from "direct sourcing to transportation assurance to last-mile delivery" [2] - The company launched large-item cold chain services to comprehensively cover various customer delivery needs, further solidifying its service advantages in coastal production areas [2] - SF Holding is steadily advancing its global layout, having opened an international cargo route connecting Hubei Ezhou, Abu Dhabi, Hanoi, and back to Hubei Ezhou, enhancing its logistics network across major cities in the Middle East and Southeast Asia [2] Group 3 - International investment banks and domestic funds have shown positive recognition of SF Holding's long-term value, with Morgan Stanley upgrading its A-share rating to "overweight" [2] - Several high-profile funds, including E Fund Blue Chip Select, increased their holdings in SF Holding's A-shares in the second quarter [2] - JPMorgan also increased its holdings in SF Holding's H-shares in August, indicating strong market confidence in the company's profit scale and cash flow stability [2]

Core Insights - SF Holding announced that the combined revenue from express logistics, supply chain, and international business for July was RMB 24.847 billion, representing a year-on-year growth of 9.95% [1] - The express logistics business revenue grew by 14.97% year-on-year, with a business volume increase of 33.69% [1] - The international freight market demand has softened due to fluctuations in international trade, and sea freight prices have significantly declined from last year's high levels [1]

Core Insights - SF Holding reported a total revenue of 24.847 billion yuan in July, marking a year-on-year increase of 9.95% [1] - The express logistics business generated revenue of 18.657 billion yuan, up 14.97% year-on-year, with a business volume of 1.377 billion packages, reflecting a significant growth of 33.69% [1] Group 1: Business Performance - In July, SF Express achieved a business volume of 1.377 billion packages, driven by the deep penetration into new consumption scenarios [2] - The company is transitioning from a "logistics service provider" to an "IP consumption scenario partner," enhancing its market share in new consumption trends [2][3] Group 2: Customized Services - SF Express launched tailored services in popular tourist destinations like Dali and Lijiang, focusing on "post-purchase instant delivery" and "light travel" needs [3] - The company introduced the "SF Easy Travel" service in Yunnan, allowing travelers to send luggage directly from the airport to hotels or attractions [3] Group 3: Regional Strategies - SF Express has established a direct transportation network to 26 major cities in Hainan, enhancing its service offerings to B-end clients [4] - The company is expanding its cold chain services and integrating high-speed rail resources to improve delivery efficiency [4] Group 4: Global Expansion - In July, SF's supply chain and international business generated nearly 6.19 billion yuan, with significant developments in its global logistics network [5] - The new logistics warehouse in Melbourne marks a key milestone in SF's operations in Australia, enhancing its cross-border logistics capabilities [5] Group 5: Market Recognition - Major international investment banks and domestic funds have shown positive recognition of SF Holding's long-term value, with Morgan Stanley upgrading its A-share rating to "overweight" [6] - Increased investments from prominent funds indicate strong market confidence in SF's profit growth and cash flow stability [6]

Core Insights - SF Holding (002352.SZ) reported a total revenue of RMB 24.847 billion for its express logistics, supply chain, and international business in July 2025, representing a year-on-year growth of 9.95% [1] - The express logistics business generated revenue of RMB 18.657 billion, showing a year-on-year increase of 14.97%, with a total volume of 1.377 billion parcels, up by 33.69% year-on-year [1] Business Performance - The express logistics business maintained a strong growth momentum, attributed to the company's implementation of activation strategies and increased authorization and incentives for frontline operations [1] - The company enhanced its operational support investments, strengthened standard product offerings, and improved comprehensive logistics service capabilities [1] - SF Holding continued to penetrate various logistics scenarios in manufacturing and consumer sectors, effectively meeting diverse customer needs [1]