S.f. Holding Co., Ltd. Class A · SZSE:002352
S.f. Holding Co., Ltd. Class A — Q3 2025 Earnings Presentation
12 slides from S.f. Holding Co., Ltd. Class A's earnings presentation, October 2025
Slide 1: SF Holding 3Q2025 Investor Presentation
SF Holding 3Q2025 Investor Presentation Stock Code: 002352.SZ/6936.HK October 2025 1
Slide 2: Disclaimer
Disclaimer This document is prepared by S.F. Holding Co., Ltd. (顺丰控股股份有限公司) the "Company"). By reading this document, you agree to be bound by the following limitations: • Unauthorized duplication, reproduction, transmission or redistribution of this document or information contained herein in any e
Slide 3: Agenda – 3Q2025 Investor Presentation
Agenda – 3Q2025 Investor Presentation No. Section 1 Business Overview 2 Financial Overview 3
Slide 4: 3Q2025: Strategic Investments Delivered Initial Impacts, Core Competitiveness Continuously Enhanced
3Q2025: Strategic Investments Delivered Initial Impacts, Core Competitiveness Continuously Enhanced Operating Efficiency Shows Marginal Improvement, Strategic Investments and Long-term Competitiveness is Reinforced Short-term Long-term Premium Time-Definite Products1 Solidify Time-Definite Products’
Slide 5: Stimulate Sustained Operational Vitality, and Rally Forces for Targeted Synergy
Stimulate Sustained Operational Vitality, and Rally Forces for Targeted Synergy Differentiated Regional Authorization Strong Binding of Three Initiatives to Operating Profits to Deepen Strategic Employee Compensation Upgrades Further Expand Stimulation Scheme’s Employee Coverage 5
Slide 6: Agenda – 3Q2025 Investor Presentation
Agenda – 3Q2025 Investor Presentation No. Section 1 Business Overview 2 Financial Overview 6
Slide 7: Earnings Overview: Steady Revenue Growth Driven by Vitality Stimulation, with 3Q2025 Earnings Under Near-Term Pressure
Earnings Overview: Steady Revenue Growth Driven by Vitality Stimulation, with 3Q2025 Earnings Under Near-Term Pressure 2025Q1-Q3 2025Q3 Segment Revenue Growth (Unless otherwise specified, all financial figures are presented in RMB) Express & Logistics Supply Chain & International Volume1 12.15 YoY G
Slide 8: Scale Expansion Drives Business Model Optimization, whereas Gross Profit Margin Faces Short-Term Pressure
Scale Expansion Drives Business Model Optimization, whereas Gross Profit Margin Faces Short-Term Pressure Cumulative Gross Profit and Gross Margin Unit: RMB billion Influencing Factors Gross profit 45.0 Gross margin 16.0% 14.0% Parcel volume growth outpaced the industry, yet the mix of incremental 4
Slide 9: Expense Ratios Decreases Moderately, Profit Margin Attributable to Owners of the Company Remains Stable
Expense Ratios Decreases Moderately, Profit Margin Attributable to Owners of the Company Remains Stable G&A Expense as % of S&M Expense as % of Profit attributable to owners of the Company Revenue ↓0.3 ppts Revenue ↑0.1 ppts Profit attributable to owners of the Company Unit: RMB billion Profit Margi
Slide 10: CapEx Passes Peak Cycle, with Healthy Free Cash Flow
CapEx Passes Peak Cycle, with Healthy Free Cash Flow Healthy Capital Structure OCF Maintains Steady CapEx1 Passes Peak Cycle FCF2 Remains Healthy Unit: RMB billion Unit: RMB billion Unit: RMB billion Unit: RMB billion 60.00% 54.7% 53.4% Tax refund CapEx as % of Revenue 52.1% 50.0% 50.00% 22 33 32 5.
Slide 11: Significant Increase in Share Repurchase Quota, Demonstrating Firm Confidence in Future Value
Significant Increase in Share Repurchase Quota, Demonstrating Firm Confidence in Future Value Increase the Total Funds for the 1 2025 First A-Share Repurchase Plan Since 2022 Cumulative repurchase Unit: RMB billion > RMB 5 billion 2 Repurchased amount Available Repurchase Balance Up to RMB Since 202
Slide 12: Vision: To be the Well-Respected and the World's Leading Digital Intelligence Logistics Solution Provider
愿景 Vision 成为备受尊重全球领先的 To be the Well-Respected and the World’s Leading 数智物流解决方案服务商 Digital Intelligence Logistics Solution Provider For more information, please visit https://ir.sf-express.com/cn/ 12