Net profit attributable to owners of the Company Reaching a Record High of about RMB 62.17 millionEnhancing innovative digital intelligence to improve operational efficiency, Supporting long-term, healthy and high-quality growth
Results Highlights
Revenue increased by 19.6% year-on-year ("YoY") to approximately RMB6,878.5 million, with order volume increased by more than 30%.
Gross profit and gross profit margin from continuing operations both improved significantly, gross profit increased by 23.4% YoY to approximately RMB 473.3 million; and gross profit margin was 6.9%.
Net profit attributable to owners of the Company was approximately RMB 62.2 million in 2024 H1, increased by 105.1% YoY, exceeding the overall net profit level of 2023, setting a new historical record high. and net profit margin reached 0.9%.
Revenue from intra-city delivery was approximately RMB 4,038 million, representing a YoY growth of 19.2%.
Revenue from last-mile delivery services amounted to approximately RMB 2,840.5 million, increased by 20.3% YoY.
Number of active consumers grew to 21.9 million people for the past 12 months ended 30 June 2024.
Revenue from intra-city delivery service for merchants increased to approximately RMB 2,874.1 million, grew by 18.8% YoY; Revenue from intra-city delivery service for consumers increased to approximately RMB 1,163.9 million, grew by 20.1% YoY.
Number of active merchants on the platform reached 550,000 for the 12 months ended 30 June 2024.
Further strengthened the construction of the on-demand delivery network and service capabilities in lower-tier markets, covered more than 1,200 counties throughout the country, reaching a county coverage rate of 68%, and the revenue from such areas increased by 51% YoY.
In 2024 H1, cash inflow from operating activities was approximately RMB 99.2 million, marking a YoY increase of 189.0%. As of 30 June 2024, cash and cash equivalents and short-term financial investments were approximately RMB 1,452.7 million and RMB 912.5 million respectively. The healthy cash flow reflects excellent business quality and operational resilience.
HONG KONG, Aug. 29, 2024 /PRNewswire/ -- Hangzhou SF Intra-city Industrial Co., Ltd. ("SF Intra-city" or the "Group"; Stock Code: 9699.HK), the largest third-party on-demand delivery service provider in China, announced its unaudited interim results for the six months ended 30 June 2024 (the "Reporting Period" or the "first half of 2024"). During the Reporting Period, the Group's has achieved satisfactory results, revenue from continuing operations increased by 19.6% to approximately RMB 6,875.5 million compared to the same period last year, with order volume increased by more than 30% compared to the same period last year. Gross profit amounted to approximately RMB 473.3 million, representing an increase of 23.4% YoY and the gross profit margin improved by 0.2 percentage points of the same period last year to 6.9%. During the Reporting Period, net profit attributable to owners of the Company doubled to approximately RMB 62.2 million, representing an increase of 105.1%, exceeding the overall net profit level of 2023, setting a new historical record high.
The net profit growth was attributable to: (i) strong adherence to the business goal of healthy and high-quality growth, with order volume significantly increased by more than 30% compared to the same period last year, driving the growth of revenue and further unleashing the benefits of economies of scale and network effects; (ii) optimization of business structure, with increased contributions to revenue from premium customers; and (iii) technological advancements and lean management driving operational quality and efficiency, improving operating performance, maintaining gross profit margins and expense ratios at healthy level and boosting profitability. Net profit margin has further increased to 0.9%.
In the first half of 2024, the Group achieved a cash inflow from operating activities of RMB 99.2 million, marking a YoY increase of 189.0%. As of June 30, 2024, our cash and cash equivalents and short-term financial investments were RMB 1,452.7 million and RMB 912.5 million respectively, indicating a healthy cash flow and ample fund reserves, fully demonstrating healthy operations.
The management team of SF intra-city commented, "In the first half of 2024, the Group's profits continued to grow. Firmly rooted in the local lifestyle services industry, the organization proactively identified and capitalized on evolving market demands and growth opportunities. As part of the intra-city delivery infrastructure, we remain steadfast in executing our strategic plans, committed to serving every customer and supporting our riders in delivering every order. These focused efforts have culminated in favorable business results for our company. We stay committed to our operational goal of 'high-quality and healthy growth.' We will embrace market opportunities in the diversified traffic, local retail development, accelerated intra-city logistics, and the ongoing expansion of third-party on-demand delivery services. As local lifestyle consumption scenarios and consumption patterns continue to evolve, we will remain focused on our core value contributions within the industry and urban operations. We will also strive to expand the boundaries of on-demand fulfillment services, enhance our technological capabilities, and collaborate with more business partners. Together, we will safeguard the prosperous development of the new consumption trend and better fulfill our mission of 'bringing enjoyable lifestyle to your fingertips'."
Intra-city delivery ...
