On the evening of January 19, SF Holdings (002352. SZ) released operating data for December 2021. According to the statistics of the monthly data caliber, SF's revenue in 2021 exceeded 200 billion yuan, reaching 206.084 billion yuan, an increase of 35.81% year-on-year; the business volume in 2021 reached 10.534 billion votes, an increase of nearly 30% year-on-year, both of which hit a record high.
According to the data, the monthly revenue in December reached 24.523 billion yuan, an increase of 57.14% year-on-year. Among them, the operating income of the express transportation sector was 15.414 billion yuan, an increase of 8.77% year-on-year, and the business volume was 938 million votes, an increase of 8.31% year-on-year.
It is interesting to note that in the second half of 2021, SF's management efficiency began to appear, single ticket revenue continued to rise, in December single ticket revenue reached 16.43 yuan / ticket, an increase of 3.85% month-on-month, an increase of 0.43% year-on-year, and continuously achieved a double increase in single ticket revenue year-on-year, while maintaining business growth, maintaining high-quality revenue growth, and gradually improving overall efficiency.
Chart: SF Holdings' operating income trend chart from January to December 2021
Industry focus on service quality improvement SF pays attention to quality development
According to data from the National Bureau of Statistics, the total volume of express delivery business in the country in 2021 was 108.3 billion pieces, an increase of 29.9% year-on-year, and the number of parcels accounted for almost half of the world. In this context, promoting the national high-quality development of the express delivery industry is the meaning of the topic. At the beginning of January, the State Post Bureau began to solicit public opinions on the Measures for the Administration of the Express Delivery Market (Revised Draft), aiming to put forward higher requirements for the dimensions of competition order and service quality.
A few days ago, the State Post General Administration released the operation data of the express delivery industry in December, and the business volume of express delivery service enterprises nationwide reached 10.25 billion pieces, an increase of 10.7% year-on-year; the business revenue reached 91.76 billion yuan, down 0.9% year-on-year. The General Administration of Posts explained that the low data of express delivery revenue in December was caused by the adjustment of the annual data of individual brand enterprises to standardize the revenue caliber. However, from an overall point of view, the industry's business volume is entering a steady growth stage. Judging from the data of several A-share express listed companies that have been released, maintaining the coordinated and benign growth of business volume and revenue has become the general trend of the industry.
Wang Wei, CEO of SF, formulated SF's 2022 development slogan as "sustainable and healthy development", to achieve a substantial change in management from quantity to quality, through internal integration, to achieve resource coordination and sharing, enhance competitiveness and scale, and achieve strategic advantages. This not only meets the high requirements of SF for service quality all along, but more importantly, the strict requirements for the effective improvement of the company's overall strength.
Analysts at Guojin Securities believe that in the context of stricter industry supervision, the importance of various express delivery companies to share has declined, turning to multi-dimensional considerations and paying more attention to service quality. The adjustment of SF Holdings' business strategy pays more attention to quality growth, the impact of the production capacity cycle gradually fades, and Kerry Logistics promotes the development of international business, and the performance repair is certain.
Expand overseas markets SF's second growth curve maintains strong growth
After Kerry Logistics merged into the SF system, SF's supply chain and international business revenue maintained a strong growth momentum, with operating income reaching RMB9.109 billion in December 2021, an increase of 534.77% year-on-year.
From February 2021, SF Holdings issued an announcement to acquire 51.5% of the shares of Kerry Logistics of the Stock Exchange Company for a cash offer of HK$17.555 billion, to the successful realization of Kerry Merger in the fourth quarter, SF completed the leap in the quantity and quality of international business in only 9 months, incorporating the advantages of Kerry's aviation, freight forwarding, shipping, international contract logistics and other advantages into the greater SF system, effectively enhancing SF's international business strength and helping SF better go to the markets of more countries in the world. Help SF's overseas business sector to expand rapidly.
Huachuang Securities analysts said that To B's supply chain service is expected to be the largest investment opportunity in the next 3-5 years in the delivery industry, SF, as an integrated logistics service giant enterprise, looks forward to further exerting synergy with Kerry, in the form of technology integration + program implementation, to help industry customers build a digital supply chain, and based on the strength of the "SF + Kerry" all-cargo aircraft fleet, will continue to expand international business.
Ezhou Airport is about to be put into operation and SF resource system is upgraded
At the end of 2021, Ezhou Huahu Airport, the first professional cargo airport in mainland China, has launched the school flight procedure.
"After the operation of Ezhou Huahu Airport in June 2022, SF Airlines will form an aviation network with Huahu Airport as the core hub and Beijing, Shenzhen and Hangzhou as the regional hubs." The relevant person in charge of SF Airlines said that by 2030, the annual cargo and mail throughput of Ezhou Huahu Airport is expected to reach 3.3 million tons.
Analysts at Huachuang Securities believe that Ezhou Airport is expected to help upgrade the company's system in the future and reach an ideal state. Including but not limited to the reduction of aviation costs, product upgrades and revenue increases, and the formation of industrial clusters to promote the development of integrated supply chains and international businesses.
With the construction progress of Huahu Airport, SF's domestic and international all-cargo aviation strength will also be gradually enhanced, and perhaps the overall strength of China's integrated logistics industry will be rapidly enhanced.
This article originated from the financial world
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