Revenue Scale Continues to Expand Expected 1H 2024 Net Profit Growth over 80% YoY

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HONG KONG, July 23, 2024 /PRNewswire/ -- Hangzhou SF Intra-city Industrial Co., Ltd. (Stock Code: 9699.HK), China's largest third-party on-demand delivery service provider, is pleased to announce that the Group recorded a continuous increase in its net profit for the six months ended 30 June 2024 (the "Period"), with a net profit attributable to the owners of the Company of not less than approximately RMB 55 million, representing an increase of more than approximately 80% from the same period of last year.

The continuous net profit growth achieved by SF Intra-city was mainly attributable to the Group's adherence to its business goal of healthy and high-quality growth, with order volume increasing by over 30% as compared to that of the same period of last year, which expanded its revenue, improved the business structure, and further leveraged economies of scale and network effect. Driven by technologies and lean management, the Group enhanced its operating quality and efficiency, improved operating performance and maintained its gross profit margin and expense ratio at a healthy level, which facilitated the improvement in its profitability.

The Group recorded steady business growth, primarily attributable to a multi-scenario business model that led to increased order density and optimized business structure. By leveraging economies of scale and network effects, the Group attracted high-value orders with differentiated services. It adopted technologies to drive comprehensive planning and deployment, optimized delivery network efficiency, and pursued continuous management streamlining to improve operation quality. Additionally, the Group focused on enhancing resource utilization to boost efficiency and productivity.

SF Intra-city will actively seize market opportunities through the continuous penetration of diversified traffic, development of local retail, acceleration of intra-city logistics, and expansion of third-party on-demand delivery services. The Group is committed to large-scale expansion, covering various scenarios, providing excellent services, and establishing a solid network to enhance its medium- to long-term revenue and profit potential. Additionally, the Group will adapt to evolving consumer trends by focusing on serving customers, industries, and society, creating more flexible income opportunities, and delivering broader value to our customers and shareholders.

SOURCE SF Intra-city