28 slides from S.f. Holding Co., Ltd. Class A's earnings presentation, 2022
Slide 1: SF Holding 002352.SZ
BRERA 002352.SZ INGLE FS BS PET T 4 (SF) HOLDING I =e 4 AR
Slide 2: HOLDING
i? HOLDING (SE)it ee ba Fa AA ARTE AIF EREAARAA (APB “ASI” ) HE, MHKRAMATICEA. CMBKRKMARESARAM PARAS CAH lS M0 FR: © KATMAPESNMBSAABKNESMEANNSAREES, MTRRE. © KETMAPAANESRADRAVHUWREER, FeLEAATa él REAR eR. REAR SCE S| FARR EFA. © RATMNPAANESAREREDL, ARAL ASMASESNXS. RATMH PARANA SRR SHARE SARAAWRUNMI
Slide 3: 2022 H1 results agenda
2022+ F SWABS AE a A 2022H1M 3 EIB 2 2022H1Z MDS 3 2022H1IMS BER 4 Q&AI SIR —, DOH 2022HUSBOR QRATIEIS » (SF)
Slide 4: H1 2022 highlights
BRAIGBERAE ABRR BETO 3 ais We BE Snez“zte —_ (Ai | FPR CBS PARE WASS5| Aap RRR i IRAE RA te SRAM PPPINIE ENG 2022H1S RAIS —2OZHIM ESHER QUAL BIA |____ l SR (_ meariett Gea OTe ARE AE Bie L | papa Shean —! « (SE)
Slide 5: H1 2022 financial results
ZStHF met: Wt RS 2? AAAS TRH hse eR 2? HAF RRA BESTS BY SHE EB 53S ~ mpuetsa oP eee (we) mons @ AEE ~ sR 8) 2021H1 2022H1 CAL BLHE RE Mae SA BRB Neat =) sees e T/ ERE ES A= Boas i-==J KI RENE Smesie = REDS BREA MPA MFR MEER (®) Tweet Iw REA gee RAH Bars BART) 2021Q1 202192 202193 202104 2022Q1 20229
Slide 6: Business breakdown 2021H1 2022H1
2021 2021H1 2022H1 2022H1 / / / B2B 2C OEM DC
Slide 7: Per-parcel revenue and gross profit
2021H1 2021H2 2022H1 2 2.00 7.00 1.50 6.00 1.00 5.00 0.50 0.00 4.00 2021Q1 2021Q2 2021Q3 2021Q4 2022Q1 2022Q2 -0.50 3.00 -1.00 单票毛利 单票收入 2.00 -1.50 -2.00 1.00 1 2022H1 2
Slide 8: Quarterly business volume and segments
2021Q1 2021Q2 2021Q3 2021Q4 2022Q1 2022Q2 1 2022H1 2 2022H1 3 2022H1 2D 4 2022H1 81.5 5 20KG+ 6 CR2 7 2022 8
Slide 9: 2022 2022 2022 2022
1 2022 6 30 12 2 2022 6 30 12 3 4 5 2022 2022 6 30
Slide 10: Business line results
ZRH mel: RANE SRM RAR BREAR To), HAP ERRATA UW 115 ian 75S Fe TL = @— AERA REAR RRS ROR OEP 2022H1S MHS 2022HIMS BR KAIST 10 (SF)
Slide 11: Segment performance
6 6 /AOI /AOI 2020Q2 2021Q2 2022Q2 2020Q2 2021Q2 2022Q2 2021H1 2022H1 1 2 2022H1 3 2022 6 4 3KG
Slide 12: Operational highlights
FRAMERS: See BIER V Ah sth > LYRE 66%, AER T 3ppts > SPORE 84%, Az T 14ppts > RBA TD, Beate 5.5% VW BIE > AH AMZ6A lt T 2ppts, BiH IPM BEET IIE, cbbe93% > pH RiarE ARAL T 8% V mA E28 > ROARS AA RA1A% > MEF Rez T Ippts > AFA T Sppts > 30THiaN# SLt6A mt T 17ppts VW fie Fit > AMMRES, M242 Mama > pee IR
Slide 13: 2022 H1 results agenda
2022+ F SWABS AE a 1 2022H1MMS EI] BR 2 2022H1Z MDS 3 2022H1MS HR 4 QSAIIA HT —, 2022HWLSELBR 2022HIMSHER QRAIIEE 1 (SF)
Slide 14: Product lines: supply chain, air cold chain, cross-border
供应链一体化产品 航空冷链产品 +13ppts +8ppts 跨境电商 2D121 2D18 医药/生鲜供应链等 1 2023 12 2021 2 2025
Slide 15: mea: “SP” EES “RR” LH
mea: “SP” EES “RR” LH (SF) LN BOLE HEIR SRO ARGUE RRHE ALS toe Kar mAtz Betas pis —, 202HWwsem [Pes 2022HIMSHER QRAIIEE 15 (SF) —
Slide 16: BA: RNHERKAT mR
BA: RNHERKAT mR ROBE pM LE ICLOS PH HREM OWS BE chnRRe wesw 6 pe A BR ey BO me = BOOBY oeta MIDE - Bl BRR | | PEs B- | BNR cored Eres N/A HT OMNELAR RAB RASH BERL | et Be CGH, FYRASAET Bk 2022S ERIS ROARS 7|\ER 54, 22, 23 Bot8e wens, camisien mE | 7 Ot F220 F a | XE ILA SRA, AREE “ Ete | KES MABPAGU
Slide 17: Network and operations
RANMA: AUS ARAL 2022HIMS EIA Wax ff 7 sewo# ~ / 24Hiexss Ae] & ‘ SHE | eee ae Pf , Rane ; \ 5~7EE/ Assan ar 3 \ i &, ae RAE ign ay BA, 39,000+s22% 36,000+8R5 3 2022HIMESBER QRAII SF BIR: PRAT Eri. BBR EBriatk, En BBE: PRAIA BAD Rahs ARPS eee WE BBE: AIK Shewvwibs ARPS Bhirpd+2 5)
Slide 18: Pliakes , HFeBTIR
Pliakes , HFeBTIR © 130A REE ° RPL e Lm AMAR igual ea BR ae. ‘nT KE 2M, B18. 8 A. Wit. TR. | @ ALISA, © H5500mb pea aBwaces semi 150M ° =i yas SABES Benge 21604 Rate © 900m yAE © aie “ciRAe” is, MEHR tek, Rit BR AE EME 1ITTA REM, 2.9575 MRM BAR 2022HIS EIR PPPs 2022HIMESBER QRAISF © AMIS SRN ee HALG
Slide 19: 2022 H1 results agenda
2022+ F SWABS AE oa 1 2022H 135 EIB 2 2022H18MH= 3 2022HIM SS HER 4 QRAII SIR 2022HISSE =—2022H1S MDS PPE OSA SS i (SF)
Slide 20: 51.3 1,301 47.2% 25.1 231% 21.5 550%
51.3 1,301 47.2% 25.1 231% 21.5 550% 1
Slide 21: Revenue and profit trends
BURWSS: SRUABILG BLA MLZ A, Pima ce Ree BZR BRI? SL: 70/8 W=EHESE (23.4% PER @ FR 1,122 501 2019 £1 TWERAFARMBN A AANS A RERS OSB; 2: WSSFOSRLO REFS, LTOAADMMRBRR Hoi 2022HIWLS EIR 2022H1 SEIS 37.3% 34.5% @®> 2,072 1,540 Tl 2020 2021 2022 MHI HA 2022HIM SHE LONE Sal NGF HSK ( 25.8% 68.5% qi 25.3% =
Slide 22: 2021H1 vs 2022H1 comparison
2021H1 2022H1 ↑5.1% 493 ↑442.7% 469 465 ↓7.3% ↑1.6% ↑9.3% ↑28.2% ↑90.7% 127 129 131 118 86 37 41 29 22 12 24 2021
Slide 23: H1 2022 financial results
2022HWS EIR = 2022H1 FAIS SAIHRENE: HMESMASAAH, BRIT HIAPHEAL FEF ia Eee 474 12.5% 10.1% 27199 EAE +82.5% 162.9 2021H1 2022H1 REECE MZ +45.9% +152.9% 2021449 202229 2022HIMES BER POLE sae) SEB BEL ig HARB TEES, 3-5 WLS Bh of wsaenoraanoe bx QO 2exKeOURAM, BBKMTNAERER @ <8eStRs, reamMnRREM, eRMOuER R
Slide 24: Cost and expense ratios
PRAIA: ALrkas. AMA HALLER ALMAR AWA BIZ AMBR AWA Mizz AHBEMAR AACE sii: (27 42.4% ¥ a ill oS. 27.6% “13.5% 542.0 2021H1 2022H1 2021H1 2022H1 12.5% 11.9% 13.7% 2021H1 > WR es fines bok > BURBS, Tina Lik > Mma SEU S OB ABSA BRE Shepp ak > BES MTN BEAR, age SHERAAB RRS Y RAM BE SMF RAAB Y BAKHSBBE, Rta
Slide 25: Expense ratios
PUHRABG: RAZBPAR, SAGE VIBE BFE air 1.9% 0.9% +230.6% 2021H1 2022H1 HOFFA SA eS 1.7% mm (SEAS AT om HFFA E 202THT 2022HWS EIR = 2022H1 FAIS 2022HIMES BER POLE sae) FIERA AWALE J 0.6% SA BA SUA | 0.5% 74% 6.8% i, 1.5% 1.0% == H: 2022 021H1 2022H1 AREA SALE | 0.4% MSR SWAG RF 1.1% 0.8% 0.7% 0.7% — — 2
Slide 26: 25.5 14.1 13.1 9.8 2.5 10.4% 5.0% 2021H1 2022H1 / /
25.5 14.1 13.1 9.8 2.5 10.4% 5.0% 2021H1 2022H1 / /
Slide 27: RRA
RRA Aut, AER, 0 eae RAMU DASA K, RLS FRESE NAS 202552 REAM KAUIURIAES|, RRC. RITES HET —, 2022HISER 2022H1SMDS PVP WEs ge QSAsrs 27 (SF) —
Slide 28: 28
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