S.f. Holding Co., Ltd. Class A · SZSE:002352
S.f. Holding Co., Ltd. Class A — Investor Presentation (2023)
28 slides from S.f. Holding Co., Ltd. Class A's investor presentation, 2023
Slide 1: 2022 Investor Presentation
Stock Code 002352. SZ S.F. Holding 2022 Investor Presentation
Slide 2: Disclaimer
Disclaimer This presentation is prepared by S.F. Holding Co., Ltd. (hereafter referred to as the “Company”) for this meeting and discussion only. When you are reading this presentation or attending this meeting, it shall be deemed that you have acknowledged and agreed to the following restrictions:
Slide 3: Agenda – 2022 Investor Presentation
Agenda – 2022 Investor Presentation # Section 1 Business Overview 2 Growth Strategies 3 Financial Overview 4 Q&A Business Overview Growth Strategies Financial Overview Q&A 3
Slide 4: Key Themes of 2022: Lean Management
Key Themes of 2022 Investor Presentation Lean Management Product Leadership & Sustainable Growth Lean Operations & Profitability Enhancement Network Optimization & Efficiency Improvement Business Overview Growth Strategies Financial Overview Q&A 4
Slide 5: Product Leadership & Sustainable Growth — Time-definite Express
Product Leadership & Sustainable Growth — Time-definite Express Higher-than-industry growth from time-definite express business 9.*% 10.5% 5.2% Time-definite express YoY growth 2.1% Industry YoY growth 1 -1.7% -3.0% 2022Q1 2022Q2 2022Q3 2022Q4 2022 Driven by robust consumption and manufacturing upgr
Slide 6: Product Leadership & Sustainable Growth — E-commerce Standard Express
Product Leadership & Sustainable Growth — E-commerce Standard Express Directly-operated and differentiated services boosted growth in e-commerce standard express E-commerce standard express YoY growth1 Industry YoY growth 2 21.*% 10.5% 5.2% 2.1% -1.7% -3.0% 2022Q1 2022Q2 2022Q3 2022Q4 2022 Unit prof
Slide 7: Lean Operations & Profitability Enhancement — New Segments
Lean Operations & Profitability Enhancement — New Segments Large parcel: leading delivery efficiency Intra-City: significant loss reduction and improved profitability driven by scenarios & technology Delivery time1 (Hours) 29% 57%+ 90%+ Non-catering 2C revenue Top100 scenario revenue YOY growth clie
Slide 8: Network Optimization & Efficiency Improvement — International Integration
Network Optimization & Efficiency Improvement — International Integration Deeply cultivated Southeast Asia flow Segment external revenue 1 International express delivery RMB100mm and supply chain business Increased frequency with 2022 core lines order fulfilment rate 98 Countries and regions covered
Slide 9: Network Optimization – 2022 Initiatives Overview
Network Optimization & Efficiency Improvement – 2022 Initiatives Overview Capacity Disciplined investments Increase in self-operated / leased vehicles Driver payroll settlement and scheduling optimization +11% +16% Available feeder Efficiency of self-operated capacity2 vehicle drivers3 Capacity sour
Slide 10: Network Optimization – 2022 Initiatives Overview (cont'd)
Network Optimization & Efficiency Improvement – 2022 Initiatives Overview (cont'd) Transit Efficiency improvement through innovation Equipment and process innovation Fine tune sorting slots Automated sorting capability has been improved Small parcels automated sorting rate1 Single shipment automat
Slide 11: Network Optimization – 2022 Initiatives Overview (cont'd)
Network Optimization & Efficiency Improvement – 2022 Initiatives Overview (cont'd) Terminal Experience enhancement Direct distribution and delivery model Conventional service points Newly added small terminal stations 4,800+ 9,800 Service Points Improvement of inefficient service points # of service
Slide 12: Network Optimization — Cost Saving from Network Integration in 2022
Network Optimization & Efficiency Improvement — Cost Saving from Network Integration in 2022 c.RMB***mm c.RMB***mm Last mile 2D on-time rate: +**ppts YoY Continuous cost Standard large parcels ≤ 800km2 Transit reduction Cost saving1 Efficiency improvement 3D on-time rate: +**ppts YoY Transport RMB10
Slide 13: Network Optimization – Network Integration in 2023
Network Optimization & Efficiency Improvement – Network Integration in 2023 Multi-network integration Four-network integration Four-network integration （Incl. Kerry Logistics/Cold （Small parcel/Large parcel/Warehouse （incl Shunxin Jieda） Chain/Pharmaceutical/New HAVI） Network/Fengwang Express） 2021
Slide 14: Key Operating Focus for 2023
Key Operating Focus for 2023 CONFIDENTIAL Sustainable and robust growth Sustainable and competitive Sustainable and competitive business in long-run Sustainable profitability operations Enhance business model Implement and strict standards targeted investments Product Integrate resources and Enhance
Slide 15: Agenda – 2022 Investor Presentation
Agenda – 2022 Investor Presentation # Section 1 Business Overview 2 Growth Strategies 3 Financial Overview 4 Q&A Business Overview Growth Strategies Financial Overview Q&A 15
Slide 16: Key Themes of 2022: Innovation
Key Themes of 2022 Investor Presentation Innovation Nine Emerging Sectors New Platform Partnerships Ezhou Huahu Air Cargo Hub Bringing New Growth Curve Business Overview Growth Strategies Financial Overview Q&A 16
Slide 17: Comprehensive Product Matrix Targeting Nine Emerging Sectors
Comprehensive Product Matrix Targeting Nine Emerging Sectors CONFIDENTIAL Service and Direct chartered Professional Special cargo Overseas Intra-city Convenience & Smart inventory efficiency Data visibility flight stowage service resource delivery traceability audit enhancement Circulation supply Ma
Slide 18: Comprehensive Product Matrix Covering All E-commerce Scenarios
Comprehensive Product Matrix Covering All E-commerce Scenarios in New Retail era On-demand Forward logistics Reverse logistics Local service Overseas platform delivery Time-definite Senders: SF Speedy Express /SF Cold chain SF Return Same-day delivery Next-day delivery SF Intra-City express Ground F
Slide 19: Ezhou – New Air Cargo Hub Bringing New Growth Curve
Ezhou – New Air Cargo Hub Bringing New Growth Curve 1 2 Prior to switch 2* cities covered by next-morning air delivery After switch 3* cities covered by next-morning air delivery • Expected improvement in on-time rates for SF Speedy Express • 2D12 on-time rates +9.*ppts; 2D18 on-time rates +2.*ppts
Slide 20: Agenda – 2022 Investor Presentation
Agenda – 2022 Investor Presentation # Section 1 Business Overview 2 Growth Strategies 3 Financial Overview 4 Q&A Business Overview Growth Strategies Financial Overview Q&A 20
Slide 21: 2022 Results: Significant Improvement in Profitability Despite External Pressure
2022 Results: Significant Improvement in Profitability Despite External Pressure 2022 KPIs Adjusted net profit of each quarter Unit: RMB100mm Volume (shipments)1 YoY growth 11.14 billion 5.5% Revenue YoY growth RMB 267.5 billion 29.1% Net profit attributable to the parent company YoY growth RMB 6.17
Slide 22: Revenue and Volume: Growing Revenue and Rising Market Share
Revenue and Volume: Growing Revenue and Rising Market Share Stable revenue growth Higher-than-industry volume growth SF 27.6% 23.4% 37.3% 34.5% 29.1% SF 25.8% 25.8% 68.5% 29.7% 5.5% YoY growth YoY growth Industry2 26.6% 25.3% 31.2% 29.9% 2.1% YoY growth 10.1% 9.8% 9.7% 2,675 111 7.6% 7.6% 106 Market
Slide 23: Revenue Breakdown: Balanced Revenue Mix
Revenue Breakdown: Balanced Revenue Mix and Enhanced Integrated Logistics Service Capabilities 1.7% 2.0% Time-Definite Express 18.9% Economy Express 32.8% Freight 2.4% 39.5% Cold Chain and Pharmaceuticals 3.8% 2021 47.8% 2022 Intra-City On-Demand delivery 13.2% Unit: RMB100mm Supply Chain and Intern
Slide 24: Gross Profit and Margin: Recovery Driven By Lean Operations
Gross Profit and Margin: Recovery Driven By Lean Operations 800.00 13.0% 700.00 Gross profit and margin by year 12.8% External challenges Unit: RMB100mm12.6% 600.00 Slower production activities, weaker consumer demand, and 500.00 12.5% 12.4% 12.4% temporary closure of service points in certain citie
Slide 25: Costs: Transportation Costs as % of revenue improved
Costs: Transportion Costs as % of revenue improved Labor costs and as % of revenue Transportation costs and as % of revenue Other operating costs and as % of revenue Unit: RMB100mm Unit: RMB100mm Unit: RMB100mm 2,000.00 1,800.00 ↑1.8% 45.0% 2,000 40.8% 50.0% 2,000 1,800 20.0% Excl. KLN 34.8% 40.0% 1
Slide 26: Expense Ratio Slightly Decreased, Leading to Higher Net Margin
Expense Ratio Slightly Decreased, Leading to Higher Net Margin Management expense as % of revenue Sales expense as % of revenue Net profit attributable to parent company ↓0.7ppts ↓0.3ppts Unit: RMB100mm 2.3% 75.00 2.1% 65.00 1.9% 55.00 7.3% 6.6% 45.00 1.4% 35.00 +44.6% 0.9% 25.00 15.00 0.4% 1.4% 1.0
Slide 27: Net Cash Flow from Operations Increased Significantly, Capex as % of Revenue Decreased
Net Cash Flow from Operations Increased Significantly, Capital Expenditure as % of Revenue Decreased Asset structure Net cash flow Capital expenditure Unit: RMB100mm Unit: RMB100mm Unit: RMB100mm +112.9% 3000 60.0% 54.1% 54.7% 53.4% 327.0 48.9% 2500 320.0 50.0% 2,168 2,099 Equity 212.2 investment Eq
Slide 28: SF 30 Years All about You We Deliver as Promised
Stock Code 002352. SZ SF 30 Years All about You We Deliver as Promised