On March 26, SF Holdings announced its 2023 annual results.

According to financial reports, SF Express's revenue for the full year of last year was 258.41 billion yuan, lower than market expectations of 270,86 billion yuan, down 3.39% year on year; net profit to mother was 8.23 billion yuan, up 33.4% year on year.

SF Express also stated in its financial report that it plans to distribute a cash dividend of 6.0 yuan (tax included) to all shareholders for every 10 shares. The cash dividend per share increased sharply by 140% year on year, and the dividend ratio increased from 20% in 2022 to 35%. Moreover, the dividend ratio within the next five years will increase steadily from 2023.

In addition, SF Express also changed the share repurchase plan for March and September 2022 and the share repurchase plan for January 2024 to cancellation, increasing earnings per share.

The total volume of parts increased 7.5% year-on-year for the whole year, and the express delivery sector grew significantly

In terms of revenue, the company's total revenue reached 258.4 billion yuan in 2023, and the total volume reached 11.97 billion votes, an increase of 7.5% over the previous year.

Among them, the company focused more on the middle and high-end markets in the e-commerce express delivery field. At the end of June 2023, the company completed the sale and delivery of the franchise model Fengwang business. Excluding Fengwang's business, the total volume increased by 16.2% over the same period last year.

The revenue of the express logistics sector was 191.1 billion yuan, up 9.7% year on year. Excluding Fengwang's business, revenue increased 11.3% year on year, and volume increased 16.2% year on year.

Revenue from the supply chain and international sector was $59.98 billion, a year-on-year decrease of 31.7%. The revenue scale and profit level declined significantly from the same period last year. SF Express explained that this was mainly due to the year-on-year decline in international air and sea freight demand and prices.

However, SF Express pointed out that in 2023, along with quarterly stabilization of demand and freight rates, the decline in revenue in the international sector will continue to narrow. Furthermore, last year, the company vigorously expanded the cross-border e-commerce logistics business on emerging platforms, and the international express delivery business has achieved relatively rapid growth.

In terms of profit, the company achieved net profit attributable to shareholders of listed companies of 8.23 billion yuan in 2023, an increase of 33.4% over the previous year; net profit attributable to shareholders of listed companies after deducting non-recurring profit and loss was 7.13 billion yuan, an increase of 33.7% over the previous year.

In terms of capital structure, as of the end of the reporting period, SF Express's total assets were 221.5 billion yuan, with net assets attributable to shareholders of listed companies of 92.8 billion yuan. The balance ratio was 53.37%, down 1.30 percentage points from 54.67% at the end of the previous year. The company's daily operating cash flow and overall financial structure remained stable, with a net cash flow of 26.6 billion yuan from operating activities.

Looking forward to the future, SF Express said that in 2024, based on continuing the product planning concept of “one network, two types of goods, three time periods”, it will continue to enrich and optimize the product matrix for segmented scenarios starting from market changes and customer needs, build a “warehouse+distribution” city service capacity in Datong City, expand new air transportation scenarios to increase cargo volume, and flexible land transportation models and pricing to scale up to provide customers with more diverse delivery service options.