Core Viewpoint - SF Express City (顺丰同城) has successfully expanded its "SoFast" brand into Macau, marking a significant step in its overseas business development after launching in Hong Kong last year [1] Group 1: Business Expansion - The launch of "SoFast" in Macau is a strategic move to enhance its presence in the international market [1] - SF Express City has formed a strategic partnership with Macau's largest local service platform, "澳觅APP," to provide efficient and convenient same-city delivery services [1] - This collaboration aims to promote the digital upgrade of local life services in Macau [1] Group 2: Financial Outlook - Daiwa has maintained a target price of HKD 20 for SF Express City and reiterated a "Buy" rating [1] - Daiwa has raised its earnings per share forecast for SF Express City for the years 2025-2027 by 6-7%, indicating better-than-expected revenue prospects [1] - The management anticipates that revenue will more than double starting from 2025, reflecting a positive long-term growth outlook [1] Group 3: Market Demand - The demand for instant delivery services is on the rise, and the company is expected to continue releasing profit elasticity [1]

Core Insights - SF Express has officially launched its "SoFast" brand in Macau, following its entry into Hong Kong in July of the previous year [1] - The company has formed a strategic partnership with the local lifestyle service platform "Aomi App" to integrate resources and provide one-stop same-city delivery services for merchants and users in Macau [1] Company Developments - The launch of "SoFast" in Macau represents an expansion of SF Express's service offerings in the region, enhancing its market presence [1] - The collaboration with "Aomi App" aims to leverage both companies' strengths to improve service efficiency and customer experience in local delivery [1]