The main target groups of the express ecosystem: (investors, private equity funds, brokerage institutions, local government decision-makers, express regulatory departments, express delivery operators, media practitioners, express upstream and downstream operators, franchise network owners, express logistics practitioners with an annual salary of more than 300,000 yuan)
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| Express Ecosystem Investment Group
In 2023, Shentong Express's revenue will be 40.9 billion yuan, an increase of 21.5% (cost growth of 21.8%), the express business volume will be 17.507 billion pieces, a year-on-year increase of 35.23%, the net profit will be 341 million, an increase of 18.4%, and the debt ratio will be as high as 61.2%, the revenue in the first quarter of 2024 will be 10.13 billion yuan, an increase of 15.87%, the net profit will be 190 million yuan, an increase of 43% year-on-year, and the debt ratio will be 62.18%, which will hit a record high again. From the perspective of revenue and profit indicators, there has been a certain improvement, but it is still far from a qualitative leap. This is illustrated by the record high debt ratio and related party transactions with key shareholders. It is particularly noteworthy that the number of employees of Shentong Express has decreased by 5,717 compared with 2022, a reduction of more than 3%.
According to the latest express business volume data, in March, Shentong's data underperformed direct competitors, failed to continue the previous strength, can it be re-surpassed in the second quarter, so as to accelerate the increase in market share? It should be noted that the continuous expansion of production capacity and the continuous increase of debt. Shentong continues to emphasize its own "long-termism", but the market is more concerned about how long the long-term is, and how to spend it at the moment? Shentong also needs to deal with the relationship between business volume and revenue and profit indicators, the relationship between the increasing number of key transactions of key shareholders and its own competitiveness, and whether or not key shareholders exercise their rights is still a key uncertain factor.
On the evening of April 24, Shentong Express (002468.SZ) released its 2023 financial report, with an operating income of 40.9 billion yuan in the reporting period, a year-on-year increase of 21.54%, a net profit attributable to shareholders of listed companies of 341 million yuan, a year-on-year increase of 18.41%, a non-net profit of 339 million yuan, a year-on-year increase of 9.86%, a basic earnings per share of 0.23 yuan, and a cash dividend of 0.20 yuan (tax included) for every 10 shares to all shareholders.
In the first quarter of 2024, the revenue will be 10.13 billion yuan and the net profit will be 190 million yuan
On April 24, the financial report for the first quarter of 2024 was released, which showed that Shentong Express achieved operating income of 10.132 billion yuan in the first quarter, a year-on-year increase of 15.87%, a net profit attributable to the parent company of 190 million yuan, a year-on-year increase of 43.2%, and basic earnings per share of 0.13 yuan. The company disclosed its 2023 annual report on the same day, with operating income of 40.924 billion yuan in 2023, up 21.54% year-on-year, net profit attributable to the parent company of 341 million yuan, up 18.41% year-on-year, and basic earnings per share of 0.23 yuan.
The impairment of assets and the write-off of bad debts exceeded 100 million yuan
On the evening of April 24, Shentong Express announced that the total amount of asset impairment provisions was 69.3747 million yuan, and the write-off of accounts receivable and other receivables was 31.1965 million yuan, taking into account the impact of income tax and minority shareholders' interests, the company's net profit attributable to shareholders of listed companies in 2023 will be reduced by 51.1326 million yuan, and the equity attributable to the owners of the parent company in the consolidated statement will be reduced by 51.1326 million yuan.
Its subsidiary, Singapore Shentong, sold a 0.74% stake in Cainiao for US$70.738 million
Shentong Express announced that Singapore Shentong, an overseas subsidiary of the company that indirectly holds 100% of the equity, intends to transfer its 0.74% stake in Cainiao to Ali CN at a price of US$0.62 per share, with a transfer price of US$70.738 million, and intends to sign a share purchase agreement and election form with Ali CN, and intends to give up the right of first refusal;
Shentong Express said that in view of Alibaba Group's announcement to withdraw Cainiao's listing application and offer to acquire the equity of Cainiao's minority shareholders, the company, as a shareholder of Cainiao, agreed to implement this transaction in order to improve its own asset management efficiency, optimize asset structure, and achieve a smooth exit from foreign investment projects.
Gao Yi Linshan "Feng Liu: "Cutting meat" clearance Shentong Express
At the end of the third quarter of 2023, "Gao Yi Linshan" held 35 million shares of Shentong Express, accounting for 2.35%.
In the first quarter of 2023, Shanghai Gaoyi Asset Management Partnership (Limited Partnership) - Gaoyi Linshan No. 1 Yuanwang Fund held 30 million shares of Shentong Express for the first time, accounting for 1.96%.
The number of attrition was 5,717, more than 3%.
The number of employees in 2023 is 12,546
The number of employees in 2022 is 18,263
The latest holdings of directors, supervisors and senior executives
2023
2022
High salaries of directors and supervisors
Debt ratios hit record highs
Accountant fees of 3.9 million
Revenue structure and operating costs
The amount of funds of 3 billion yuan is used for investment and financial management
On April 24, the third meeting of the sixth board of directors of Shentong Express deliberated and passed the "Proposal on the Use of Idle Funds for Investment and Wealth Management", and the investment amount is that the company intends to use the maximum idle fund quota of no more than RMB 3 billion for investment and financial management, which can be used by the company, its wholly-owned subsidiaries and holding subsidiaries on a rolling basis.
Expenses and cash flow
There has been a significant increase in administrative costs
Shentong's related party transactions with Alibaba and Cainiao
The external guarantee amount is 2.58 billion yuan
On April 24, Shentong Express announced that the total amount of external guarantees of the company and its holding subsidiaries is 2.58 billion yuan, accounting for 29.36% of the company's audited net assets in 2023, and the actual amount of external guarantees of the company and its holding subsidiaries is 1.96 billion yuan, accounting for 22.3% of the company's audited net assets in 2023. The company and its holding subsidiaries did not provide guarantees to units outside the consolidated statements, and there were no overdue external guarantees, no guarantees involving litigation, and no guarantees that should be borne due to the judgment against the lawsuit.
In 2024, the production capacity will be expanded to an average of 75 million orders per day
Shentong Express said that in 2024, the company will "focus on the experience year", continue to uphold the development concept of "righteous management, long-termism", adhere to the service concept of "serving with heart, achieving you and me", not afraid of challenges, forge ahead, on the basis of deep cultivation of "economic express", focus on product and service differentiation, meet the personalized needs of consumers, and provide customers with "good, fast and saving" express logistics service experience. The company will continue to focus on the main business of economic express delivery, adhere to the business idea of "stabilizing stock and expanding increment", continuously deepen cooperation with traditional mainstream e-commerce platforms, and continue to expand cooperation with emerging platforms such as live broadcast e-commerce and social e-commerce, so as to promote the company to achieve the goal of exceeding the growth rate of business volume in the express delivery industry.
In 2024, we will continue to promote 10 billion capacity improvement projects, continue to invest in infrastructure construction, further strengthen customized development projects with partners, and carry out infrastructure construction cooperation with mainstream logistics real estate developers, industrial Internet platforms, regional leading enterprises and other partners, etc., to further improve the capacity supply of important central nodes and promote the company's production capacity to a new level, and it is expected that the company's normal throughput capacity is expected to increase to an average of more than 75 million orders per day in 2024.
Express ecosystem
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Recently, the stock market continues to fluctuate, some criminals illegally make profits, harming the legitimate rights and interests of investors, I will increase the supervision of trading behavior, enrich the means of clue screening, make overall arrangements for special verification, strengthen the "penetrating" transaction monitoring, use multi-dimensional technical means to collect market intelligence, and carry out joint research and judgment with the Ministry of Public Security, and find a number of cases suspected of manipulating the market and malicious shorting.
An illegal gang controlled more than 100 securities accounts to manipulate a certain stock, used continuous pulling, reverse trading and other methods to affect the stock price, and then waited for the opportunity to clear the stock and smash the shipment, resulting in a flash crash and continuous decline in the price of individual stocks, with a total of 2.7 billion yuan sold and an illegal profit of about 130 million yuan.
The actual controller of an investment institution manipulated the prices of more than 20 stocks by suppressing stock prices, absorbing chips at a low level, and continuously pulling up, resulting in rapid fluctuations in the prices of individual stocks, and even extreme markets such as "sky flooring" within a day, from which the transaction illegally profited 140 million yuan.
A certain lawbreaker took advantage of his capital advantage and used hundreds of millions of yuan to frequently make false declarations for many futures products on the futures exchange, creating a false impression of trading, deceiving other investors, and taking the opportunity to sell them for a profit of more than 4,000 yuan.
The China Securities Regulatory Commission (CSRC) insists on responding quickly and resolutely investigating and dealing with illegal acts that affect the stable operation of the stock market and harm the legitimate rights and interests of investors.
Manipulating the market to maliciously short-sell, seriously eroding the people's "money bags", has stood on the opposite side of all stockholders, disrupting the normal rhythm of the healthy and stable operation of the stock market. The China Securities Regulatory Commission will maintain a high-pressure posture of "zero tolerance", resolutely crack down, and let those who dare to illegally manipulate and maliciously short sellers "go bankrupt and sit in prison". In this warning, don't defy the law and take the chestnut from the fire.
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The main target groups of the express ecosystem: (investors, private equity funds, brokerage institutions, local government decision-makers, express supervision departments, express logistics operators, media practitioners, express logistics upstream and downstream operators, franchise network owners, express logistics practitioners with an annual salary of more than 300,000 yuan.
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