[中报]顺丰控股(002352):2022年半年度报告（英文版）
原标题:顺丰控股:2022年半年度报告（英文版） Chapter1ImportantInformation,TableofContentsandDefinitions The Company’s Board of Directors, Supervisory Committee, directors, supervisors, and seniormanagementherebyguaranteethatthecontentsoftheSemi-AnnualReportaretrue,accurate,andcomplete,and that there are no misrepresentations, misleading statements, ormaterial omissions, and shallassume individualandjointlegalliabilities. WangWei,theCompany’slegalrepresentative,HoChit,thechieffinancialofficer(thepersoninchargeoffinance),andHuXiaofei,theaccountingofficer,herebydeclareandwarrantthatthefinancialreportwithintheSemi-AnnualReportistrue,accurateandcomplete. AlldirectorshaveattendedtheBoardmeetingapprovingtheSemi-AnnualReport.InthisSemi-AnnualReport,theCompanydetailsthepossibleriskfactorsthatmayoccurinthefutureandcountermeasures.Formoreinformation,pleasereferto“SectionX.PossibleRisksandCountermeasures”under“Chapter3ManagementDiscussionandAnalysis”.Investorsshouldrefertosuchinformation.TheCompanyisrequiredtocomplywiththedisclosurerequirementson“expressdeliveryserviceindustry”presentedintheSelf-RegulatoryGuidelinesNo.3forCompaniesListedontheShenzhenStockExchange-IndustrialInformationDisclosure. TheCompanydoesnotplantoissuecashorequitydividends,nortoconvertequityreserveintosharecapitaloftheCompany. TableofContents Chapter1ImportantInformation,TableofContentsandDefinitions.........................................4 Chapter2CompanyProfileandKeyFinancialIndicators............................................................8 Chapter3ManagementDiscussionandAnalysis..........................................................................16 Chapter4CorporateGovernance...................................................................................................66 Chapter5EnvironmentalandSocialResponsibilities..................................................................69 Chapter6SignificantEvents...........................................................................................................72 Chapter7ShareChanges&ShareholderDetails.........................................................................87 Chapter8PreferredShares.............................................................................................................93 Chapter9Bonds...............................................................................................................................94 Chapter10FinancialStatements....................................................................................................95 ListofDocumentsAvailableforInspection (1)Financialstatementssignedandsealedbythelegalrepresentative,thechieffinancialofficer(thepersoninchargeoffinance)and theaccountingofficeroftheCompany. (2)TheoriginalcopiesofalldocumentsandannouncementsoftheCompanywhichhavebeenpubliclydisclosedinnewspapers designatedbytheChinaSecuritiesRegulatoryCommissionduringthereportingperiod.(3)Theoriginalcopiesofthe2022Semi-AnnualReportsignedbythechairmanoftheBoardofDirectors.(4)Theplacewheretheabovedocumentsaremaintained:theofficeoftheCompany’sBoardofDirectors.Definitions
I.CompanyInformation CompanyProfile
1.Corporatecontactinformation WerethereanychangestotheCompany’sregisteredaddress,officeaddressorpostalcode,Companywebsite,ortotheemail addressduringthereportingperiod? □Yes√No TherewerenochangestotheCompany’sregisteredaddress,officeaddressorpostalcode,Companywebsiteandtheemailaddress duringthereportingperiod.RefertotheCompany’s2021AnnualReportfordetails.2.Informationdisclosureandplaceofinspection Werethereanychangestoinformationdisclosureandplaceofinspectionduringthereportingperiod?□Yes√No Therewerenochangestothenameofthenewspaperdesignatedforinformationdisclosure,totheaddressofwebsitedesignated bytheCSRCforsemi-annualreportpublication,nortothestoragelocationofCompany’sSemi-AnnualReportduringthe reportingperiod.PleaserefertotheCompany’s2021AnnualReportfordetails.3.Otherrelevantinformation Werethereanychangestootherrelevantinformationduringthereportingperiod?□Yes√No II.KeyOperatingandFinancialData ResultsOverviewfor2022H1 1 Totalparcelvolume Revenue 5.13billion Flat RMB130.1billion↑47.2% Netprofitattributabletothe Grossprofit 2 parentcompany RMB2.51billion ↑231% RMB16.3billion ↑82.5% Netprofitattributabletothe parentcompanyafterdeducting Totalassets 3 non-recurringprofitorloss RMB212.5billion ↑1.22% RMB2.15billion ↑550% Netassetsattributabletothe Basicearningspershare 4 parentcompany RMB81.7billion ↓1.48% RMB0.51/share ↑200% Notes： 1.ThetotalparcelvolumedoesnotincludetheexpressdeliveryvolumeofKerryLogistics,norincludesbusinessvolumeofinternational freightandfreightforwardingandsupplychain 2.Netprofitattributabletotheparentcompanyreferstothenetprofitattributabletotheshareholdersofthelistedcompany 3.Netprofitattributabletotheparentcompanyafterdeductingnon-recurringprofitorlossreferstothenetprofitattributabletothe shareholdersofthelistedcompanyafterdeductingnon-recurringprofitorloss4.Thenetassetsattributabletotheparentcompanyreferstothenetassetsattributabletotheshareholdersofthelistedcompany Financialsummary 1.Majoraccountingdataandfinancialindicators DoestheCompanyneedtoadjustitsfinancialinformationretrospectivelyorrestateitspreviousyearaccountinginformation? □Yes√No Unit:RMB’000
Segmentexternalincome Unit:RMB’000
Unit:RMB’000
(1)TheCompanycontinuestopromotemulti-networkintegration.Thelargeparcel(generallygoodsheavierthan20KG,with restrictedflowdirectionanddistance)businessoftime-definiteexpressandeconomyexpressoperatedbythedirectnetworkof expresssegmentwasincludedintheresponsibilityofthefreightorganizationstepbystep.Accordingly,thefreightsegmentdata includeddatafromtheabovelargeparcelbusiness. (2)ThecorrespondingrelationshipbetweentheoperatingsegmentsandtheCompany’smainbusinesssegmentswas:theexpress segment included time-definite express and economy express businesses other than large parcel business (included in the responsibilityofthefreightorganization)mentionedinitem(1),aswellascoldshippingandpharmaceuticalbusinesses;the freightsegmentincludedtheabove-mentionedlargeparcelbusiness,andfreightbusiness;theintra-citysegmentwasmainlyintra- city on-demand delivery business; the supply chain and international segment included international express business, internationalfreightbusinessandfreightforwardingbusiness,andsupplychainbusiness;theundistributedunitsmainlyincluded segmentsofnon-principallogisticsandfreightforwardingbusinesses,includinginvestment,industrialparksandotherfunctional segmentsoftheheadquarters. 3.Non-recurringprofitorlossitemsandamounts Unit:RMB’000
doesnotdefinethenon-recurringprofitorlossitemslistedintheExplanatoryAnnouncementNo.1onInformationDisclosureof CompaniesOfferingSecuritiestothePublic-Non-recurringProfitorLossasrecurringprofitorlossitems.4.Differencesinaccountingdataunderdomesticandforeignaccountingstandards1.Duringthereportingperiod,therewasnodifferenceinthenetprofitandnetassetsinthefinancialreportsdisclosedin accordancewiththeInternationalAccountingStandardsandtheChineseAccountingStandards.2.Duringthereportingperiod,therewasnodifferenceinthenetprofitandnetassetsinthefinancialreportsdisclosedin accordancewithoverseasaccountingstandardsandinaccordancewiththeChineseAccountingStandards.Chapter3ManagementDiscussionandAnalysis I. BusinessDevelopmentoftheCompany (Ⅰ)Industryreview 1.China’seconomyreboundinthefirsthalfof2022 thesupplyoflivelihoodmaterialsandthenormaloperationafteraslowdowncausedbytheCovid-19pandemic. ofindustrialandsupplychains.AsCovid-19variantsarebecomingmoretransmissible, Toalleviatethepressure,thegovernmenthaslaunchedthedifficultyofpreventionandcontrolalsoincreases.In anumberofpoliciestoensuresmoothlogisticsandreduce China, sporadic outbreaks of the pandemic exerted a businesscostsofenterprises.On11April,theStateCouncil negative impact on economic activities. According to issued the Notice on Ensuring the Smooth Freight and NationalBureauofStatisticsofChina,inthefirsthalfof Logistics(《关于切实做好货运物流保通保畅工作的通知》),callingforeffortsfromallregionsanddepartmentsto 2022,China’sGDPhitRMB56.3trillion,up2.5%year-on- yearascalculatedusingconstantprices;andGDPforthe ensure smooth transportation of goods and materials, secondquarterwasRMB29.2trillion,up0.4%year-on-year. especially medical and other materials for epidemic Inaddition,thetotalretailsalesofconsumergoodswere preventionandcontrol,dailynecessities,governmentreserve RMB21.0trillion,down0.7%year-on-year;asthepandemic materials, postal express, and other important production alsoreinforcedpeople’shabitstoconsumeonline,theonline materialssuchasagriculture,energy,andrawmaterials.On retail sales of physical commodities came inat RMB5.4 27April,theStateCouncilproposedatanexecutivemeeting trillion,up5.6%year-on-year,accountingfor25.9%ofthe thatfrom1Maytotheendoftheyear,eligibleexpresstotal retail sales of consumer goods with an increase in delivery services will be exempted from VAT; RMB100 marketpenetration. billion of refinancing loans will be offered as soon aspossible to fund the transportation, logistics and DuringMayandJune,withtheimprovementofthe warehousing industries, and allow reasonable deferred pandemicsituation,thegovernmentintroducedaseriesof repaymentofcarloans,etc. policiestohelpenterprisesrideoutthetoughtimeandspeed up the resumption of work and production. China’s Benefitingfromabovemeasures,thelogisticsindustryeconomicactivitiessawanuptick.InJune,majoreconomic accelerateditsrecoveryafterthiswaveofCovidinfections indicatorsdemonstratedpositivetrends.Theaddedvalueof receded. In the first half of 2022, the nationwide total industriesabovedesignatedsizeincreasedby3.9%year-on- logisticsexpenses(thetotalvalueofgoodsinsocialmobility) year;thegrowthrateoftotalretailsalesofconsumergoods rose by 3.1% year-on-year to approximately RMB160 turnedpositive,increasingby3.1%year-on-year.Withthe trillion; nationwide business volume of express service continuous rollout of policies conducive to economic enterprisesamountedto51.2billionpieces,up3.7%year- stability,Chinaissupposedtocontinueitseconomyrebound on-year;businessincomeaccumulatedtoRMB498.2billion, inthesecondhalfoftheyear. up2.9%year-on-year.Thelogisticsindustryhasshownitsresilience under the impact of the pandemic. It can be 2.Policieswerelaunchedtoensurethesmoothflow anticipated that in the second half of the year,with the andoveralldevelopmentoflogistics,obtainingsignificant mitigation of the pandemic and recovery of economic effect. activities,theexpresslogisticsindustrywillalsospeedupits recovery. Whenthepandemichitinthefirsthalfof2022,the logistics industry faced greater pressure due to local 3.Bothpolicyregulationandmarketchangesare boosting the logistics industry towards high-quality establishedcompletelogisticsnetworks,andsetupeffective development. barrierstoentrybasedoneconomiesofscale.Theywillhavemore space to improve the efficiency of transportation TheDevelopmentPlanningonthePostIndustryforthe capacityresources byseveral measures suchasadjusting “14thFive-YearPlan”Period（《”十四五”邮政业发展规 operatingmodelsandoptimizingnetworkplanning,soasto 划》） introducedinlate2021,proposedthatduringthe hedgeagainstthepressureofrisingfuelcost.Higherbarriers 14thFive-YearPlanperiodweshouldfocusonpromoting toentryanduncertaintiesinthebusinessenvironmenthave the high-quality development of the post industry, while ledtoagradualshiftamonglogisticsenterprisecompetition settingfivemajorobjectivesintermsofscalestrength,basic awayfromdisorderlyexpansiontoLEANandsustainable network, innovation capability, service and governance development. effectiveness,aswellas12relatedindicators.Theplanning provides a clear and concrete direction for the express 4.Withresilienceinimportandexporttrade,China deliveryindustrytoimproveitsserviceanddevelopment hasseenanenormousdevelopmentpotentialincross-quality.Additionally,thegovernment tightened regulation border logistics in the Asia-Pacific region given its towardsmarketcompetitiontoprotectdeliverymen’srights growthpotentialinconsumptionandtrade.andinterests.Underthedualactionofpolicyguidanceand Sincethebeginningof2022,theoverallglobaltrade continuous governance, price-oriented competition in the growth has been slowing down. However, China has expressdeliveryindustryiseasing.Whileexpressdelivery overcome several adverse effects such as the tightening companiesgraduallygettingridofthe“pricewar”haze,the external environment and the short-term impact of the unitpricepershipmentelevatescontinuously. pandemic,andstillsawarelativelyfastgrowthofforeign Meanwhile,withtheslowinge-commerceconsumption tradeimportsandexports,attestingtothehighdegreeofgrowth,e-commercemodelinnovations,decentralizedtraffic tenacityintheChineseforeigntradeindustry.Inthefirsthalf and a competitive e-commerce platform landscape, the of 2022, China’s total imports and exports of goods rivalry over consumer service experience has become amounted to RMB19.8 trillion, up 9.4% year-on-year; particularly significant. Therefore, the merchants and e- exportsofgoodsamountedtoRMB11.1trillion,up13.2% commerceplatformshaveplacedgreateremphasisonthe year-on-year.AstheCovid-19pandemicabatedgraduallyintimelinessandqualityoflogisticsperformance.Improving China,resumptionofworkandproductionactivitiesatthe services and the quality of development has become the sociallevelcontinuedtoadvance,andthelogisticschainand mainstream trend in the industry. Express delivery supply chain have been continuously restored. Besides, companies actively promote service stratification and China introduced more policies to help stabilize foreign productclassification,optimizeservicemodelsandrefine trade,whichbroughtaboutimpressiveexportfiguresinJune operationalprocesses.Theyalsomakeeffortstoimprove –exportssoaredby22%year-on-yeartoRMB2.2trillion,terminal delivery service quality and enhance customer beatingmarketexpectations.experience amid a shift in the express delivery industry The Regional Comprehensive Economic Partnership towardsorderlycompetition. (RCEP)agreement,whichenteredintoforceon1January Furthermore,internationalgeopoliticalconflictsmade 2022,isthelargestandmostimportantfreetradeagreement crudeoilpricescontinuerisinginthefirsthalfoftheyear, intheAsia-Pacificregion.RCEPpromotesthedevelopment drivingdomesticrefinedoilpricestoafive-yearhigh.As ofcross-bordertradebetweenChinaandSoutheastAsiain oneofakeycostelementforthelogisticsindustry,thecost termsofreducingcross-bordertransactioncosts,improving offuelhasbeenontherise,bringinggreatpressureonthe customs clearance and logistics efficiency, reducing operationalefficiencyofexpresslogisticscompanieswhile compliancerisks,acceleratingthedigitalupgradeofcross- reducingthepossibilityofpricewar.Risingfuelcostalso bordere-commerceaswellasimprovinginfrastructureand testedthecompanies’capabilitiesofintensivemanagement. supporting services. It will also encourage Chinese expandingonamoreextensivescale,bringingenormous Asia Pacific’s strategic position in the global trade developmentopportunitiesfortheinternationalsupplychain network and the rise of local markets in the region are businessofChina’sexpressdeliveryandlogisticsenterprises. expected to lead to long-term growth in cross-border logistics,contractlogisticsandfreightforwardingmarket. Moreover,astheemergingmarketsinSoutheastAsia Having taken the lead in establishing their own service havealargepopulation,includinggreatnumbersofyoung networks in SoutheastAsian, and acquired the ability to and low-cost workforce, these regions have higher providelogisticsandfreightservicesglobalwidewithAsia consumingpowerandthereforehaveattractedsubstantial asthepivot,Chineselogisticscompaniesarebetterequipped inflowsofforeigncapital.Drivenbyinvestment,thevalue tograspthedevelopmentchancesofthemarketinthebig ofmerchandiseexportstomajorASEANcountriesalsogrew pictureofindustrialchainupgradingandmigration.They tovaryingdegrees.SoutheastAsianiscommittedtolow-end willjoinhandswithmoreChinesebrandstogoabroadand industriesandtheterminalassemblyandproductionlinksof helpreshapethesupplychainofmultinationalbrands.They the industrial chain, while China has the most aim to create a stable, efficient, end-to-end international comprehensive industrial chains and the most advanced supply chain and build the global presence for logistics supplychaininfrastructure.Theabovestrongandeffective network. complementarities,andin-depthcooperationbetweenthem inthefuturewilleffectivelycontributetoanewintegrated supplychainpatternof“China+SoutheastAsia”. (II)TheCompany’sPrimaryBusinessSegments SFHoldingisthelargestintegratedexpresslogisticsserviceproviderinChinaandthefourthlargestintheworld.Focusing ontheecosystemofthelogisticsindustry,theCompanycontinuouslybuiltonitsservicecapabilities,anddiversifieditsbusiness linestoincludesub-sectorssuchastime-definiteexpress,economyexpress,expeditedelivery,cold-chainandpharmaceutical transportation,intra-citydelivery,internationalexpress,internationalfreightandfreightforwardingandsupplychainlogistics, enablingittoprovidecustomerswithdomesticandinternationalend-to-endone-stopsupplychainservices.Furthermore,drawing onitsexceptionaltechnologicalresearchanddevelopmentcapabilities,SFiscommittedtobuildingadigitalsupplychain ecosystemandestablishingitselfasthegloballeaderinsmartsupplychainlogistics.(III)AnOverviewofBusinessDevelopment 1.WorkingtogethertodefeattheCovid-19pandemic Since March 2022, the Covid-19 pandemic has posed Mobilizingtransportcapacitytocarrydonationsfrom greatchallengestonormalorderinworkandlifeandexpress alloverChina:SFassembledlargefleetsofover100vehicles deliveryandlogisticsoperations.Despitetheseverepandemic, totransportdonationsfromFujian,Anhui,Qinghai,Hainan, leveragingself-ownedstrongtransportationinfrastructureand Hebei, Jiangsu, Ningxia, Hubei and other areas to cities efficientarrangementanddeployment,SFsparesnoeffortsto affectedbyCovidlockdowns.Suchvehiclefleetsranaround maintainasmoothandcompletelogisticsservicechainforboth theclocktoensuretheend-to-endcoldtransportationoffresh transportinganddeliveringdailynecessitiesandanti-epidemic food. suppliesandforthenormaloperationsofsocietyandeconomy, attestingtoitsexceptionalbusinessresilienceandtechnological Making positive commitments to guarantee supply logistics for people’s livelihood: In mid-April, SF, as a innovationcapabilities.Weprovidereliableandsecureservices especiallyforhigh-priorityoperationssuchaslastlag(e.g.“last logistics enterprise committed to ensuring the supply of materialsinShanghai,setupfourtransferstations,including mile” and “last 100 meter”) delivery, making customers satisfiedandbuildingtrustworthinessinourcommunities. PinghuinZhejiang,KunshaninJiangsu,XijiaoandJiangqiao inShanghai,withthesupportofthegovernment.Materials Leveraging air transport capacity to support fromvariousareas weretransferred todesignated places in pandemic-struckareas:AstheCovid-19outbreakhitJilinin Shanghaithrough“contactlessdropandpull”transportationat March,theCompanyurgentlystarted“Chongqing-Changchun” transferstations.Duringtheperiod,atotalof1,777vehicles flight to promptly deliver nearly 300,000 disposable virus and29,500tonnesofmaterialsweretransferred.Meanwhile, samplingtubestoChangchun.AftertheCovid-19outbreakin SFhelpedShanghaiVegetableGroup(上海蔬菜（集团）有限 Hong Kong, the Company mobilized 747 and 767 series 公司)todeliversuppliesdirectlyto16districtsinShanghaion airplanestotraveltheshortestroutefromShenzhentoHong apoint-to-pointbasis,completingthetransportationofnearly Kong,transportinganddeliveringover5,500tonnesofanti- 1,500tonnesinvolvingover160trips.Besides,SFColdChain epidemicandlivingsuppliesforHongKong.Inaddition,as alsoconnectedandcooperatedwitheightdomesticvegetable Shanghai was under a lockdown in April, the Company bases, utilizing resources of cold chain to ensure the launched an emergency air route to provide fresh food for transportation and delivery of various types of vegetable Shanghai,transportinganddelivering400tonnesofbeefand supplies. mutton from Inner Mongolia to Shanghai. In addition, the Company also started an airline route from Chongqing to Shanghaitotransportanti-epidemicsupplies,includingnearly 5millionCovid-19testingreagents.BythetimeofShanghai’s lockdownwaslifted,41flightsofSFhadtraveledtoShanghai, transportingover900tonnesofmaterials.networksforwarehousetransferanddistribution.Byvirtueof food and accommodation, and additional incentives and strong national warehouse networks, SF could help e- subsidies.Actingasthe“bloodvessels”inthecities,SFIntra- commercecustomerstocompleteashiftindeliverymodelin City collaborated with local governments and supply time, and minimized the risk of business suspension for companiestosortanddistributesubsistencesuppliesinCovid- customersthroughimmediatewarehousetransferandflexible affected areas, supported the distribution of food, daily warehousedistribution.BytheendofJune,wehadguaranteed necessitiesmedicines,andpersonalitemstolocalresidents,and smooth delivery for more than 180 e-commerce customers assistedinthecollectionandtransportationoftestingreagents affectedbythepandemic. fromcommunitynucleicacidsamplingpoints.Moreover,the personal errands, countersigning services and business Moreover, as the first enterprise to resume business document distribution provided by SF Intra-City effectively operationsinShanghaiWaigaoqiaoFreeTradeZone,SFDSC support thenormal work and meet the livingneeds of the mobilizedmorethan800front-lineemployeesworkingonsite. epidemicsealingandcontrolareas. Duringtheperiodover70daysunderclosed-loopmanagement,distributioninareaspreviouslyservedbyShanghaiLogistics Developingthehigh-techanti-pandemic2.0model: Centre with high quality. New Havi was also praised by 1 Unmannedaerialvehicles:TheCompanydeveloped customers for its flexible and quick emergency support multipleairtransportationlinesforunmannedaerialvehiclesto capability. realize contactless transportation of nucleic acid samples, Persevering with last mile delivery to meet people’s emergency medicine, fresh food and other materials. A livelihoodneeds:Wheneverlockdownscausedbyunexpected completesetoffullystandardizedoperatingprocedureswere rolledoutbasedontrialoperationsinShenzhen,andwerethen Covid-19outbreaks,somedeliverystaffsofSFwouldalways volunteertosetupteamsoractivelyrespondtothecallfor applied in Shenzhen, Taizhou, Zhejiang, Hangzhou and Shanghai, etc. The unmanned aerial vehicles provided volunteers.Theyworkedinharm’swaytosupportnucleicacid tests,loading,unloadingandsortingofdailynecessities,and transportationsupportsona24/7basistofightthepandemic.In particular, more than 30 unmanned aerial vehicles were deliverpackagesforthelastmile.Sometimestheyhadtosleep onthegroundandliveincars,buttheystillstruggleddayand deployedtohelpfightthepandemicinShanghai,flyingabout 700hoursandtransportingmorethan7,000kgmaterials. nightwithafearless heart.Theymadecontinuedefforts tolinestaff,theCompanyprovidedlogisticssupport,including ② Unmanned vehicles: An unmanned vehicle ①“Fullstack”disinfectionmanagementforepidemic distribution solution covering three application scenarios – prevention:Gantrieswereusedtodisinfectvehiclesattransit buildings,industrialparksandtransitdepots–wasdeveloped depotsandautomaticdisinfectionsprayequipmentwasusedto toprovideautomaticdeliveryservicesforterminallogistics. disinfectshipmentsone-by-oneDisinfectionsystemscovering Featuringindustrial-grademappingandpositioningtechnology, implementation, early warning, visual monitoring and theUAVsarecapableofautonomouslyavoidingobstacleswith highprecision.Thevehiclesareinterconnectedandcoordinate witheachother,enablingautomaticschedulingandrecharging 24hoursaday,andtheycanalsorideliftstoperformin- buildingdelivery.Duringthecriticalperiodofthepandemic, weprovidedsafeandconvenientlogisticsservicesforteachers, studentsandlocalresidentsthrough“contactless”delivery.importedarestoredfordisinfectionattheirfirststationafter ③“Fangyikong”: “Fangyikong” operations based on entry.Inthe13firsttransitdepots,specialareasarearranged block chain technology were launched to help share forcentralizeddisinfectionatleasttwiceperday.Parcelsare disinfectiondataofmillionsofwaybillsperdayacrossthe storedformorethan168hoursbeforetheycanbereleased.In logistic chain. In cooperation with official authorities, theaddition, with 16 flow lines sortedout and determined, an disinfectiondataofeachpackageintheentireprocessfrom overallarrangementismadeforinternationalbulkcargoesto collectiontodeliveryisnotarizedanduploadedtothechain ensurecentralizedmanagementforinternationalparcelsafter andrecorded.Furthermore,electronicdataiscuredinrealtime arrivingattheportinvariousregionsandminimizein-transit toensurethecredibilityoftherecords,allowingconsumersto risks. viewthedisinfectionandinformationuploadedonthechain. Thismeasureironsoutusers’concernsoverCovid-19infection With improved capability to deal with various inreceivingandsendingpackages. emergenciesamidthepandemic,SFhasprecipitatedamore diverse and enhanced mechanism, pushing forward the Implementing end-to-end package disinfection on a Company’s standardized business operations and intensive comprehensivescale: management. 1 sametype.Wealsoprepareresourcestofacilitatecoresupply 2.Customeroperation chainscenariodevelopmentforcertaincustomers,andpromote The Company continues to improve its customer breakthroughsinsomenewprojectsbyvalueguidanceand management system based on customer stratification to activeparticipation. enhanceitsdifferentiatedservicecompetitivenessandoperation efficiency. (2)KA(keyaccounts): ①Inrespect ofmechanism improvement, we promote the implementation of CRM I)Creditaccountclients(corporateclients) mechanism,standardizethecustomerdecisionreviewprocess, Asofthefirsthalfof2022,thenumberofactivecredit and gradually promote the standardization of business 2 accountclients amountedtoapproximately1.75million,an opportunitymanagementandhealthydelivery. ②Asregards increaseofover100,000fromthebeginningoftheyear. business expansion, we focus on major customer bases, analyze customers status in complex scenarios and identify (1)SKA(strategickeyaccounts):Wefocusonteambase business opportunities based on the multi-dimensional building, differentiated assurance mechanism as well as customerreviewmodelandKAcustomeroperationplanning capabilityimprovementandreusetoachieveoperatingresults tools.Moreover,wefullyleveragetheGroup’sresourcesand whileimprovingservicequalityatthesametime,drivinga capabilitiestosupportmulti-sceneportfoliosalesbybuilding shiftinourstrategiccustomerteamsfrommanagementtoward anirontriangleanddevelopingsolutions,aswellastoachieve operation. controllableandpredictablebusinessopportunitydelivery,so ①Strengtheningteambase:Wecontinuetoimprovethe astoenlargeourcustomerbase. ③Inrespectofmanagement SKAexclusiveserviceteambybringinginhumanresources improvement, we continue to build on our four primary fromexternalsourcesandthroughinternalselection,andcreate capabilities – “customer management, demandmanagement, anirontriangleoperationmodecombiningbusiness,operation risk management and team management”, to support our and maintenance, and solution. Moreover, we continuously overallwork.improvethesupportingandmonitoringmechanismstopromote (3)SME(smallandmedium-sizedenterprises): ①In the business of SKA customer base. ② Developing respectofsalescapability,weimproveourcomprehensive differentiated assurance mechanism: We integrate the capabilitiesofSMEcustomermanagersandimplementasales advantageousresourcesacrossvariousorganizationswithinthe elitismstrategyonaregionalbasistoachieveasignificant Group,andestablishdifferentiatedassurancemechanismsfor increaseinpercapitarevenuegeneration,whileensuringour SKA covering various aspects such as operation capacity, marketshareatthesameplace; ②Inrespectofbusiness service guarantee during peak periods, technology expansion,wehaveaclearleadinnewbusinessandmulti- empowermentandgreenchannel,soastopromotetheoverall scenario development, andacquired 45,000 new contractual capability of the Group to serve SKA customers. ③ SMEcustomers,contributing12.8%oftotalrevenuegeneration. Improving and reusing capabilities: By refining and Wealsoexploretheupstreamanddownstreamsupplychain extractingtheoperationandmaintenance,solution,technology andmulti-scenariobusinessofourexistingcustomerstohelp and business capabilities in serving SKA customers, we themgrow,whichimprovescustomerloyaltyandsatisfaction, acquiredmultipleexceptionalcapabilitiesandreusedthemon and our existing customers have achieved better revenue more customers, leading the overall improvement of the growthyear-on-year.Throughexploringnewbusinesses and Group’s capability. ④ Exploring in-depth core business newapplicationscenarios,andexpandingbusinessfield,we scenarios: By sorting out the business scenarios of SKA haveimprovedourcustomerloyalty,andoureffortstodevelop customer base, we expand and deepen the existing core customersintohigh-valuepotentialcustomershavecontributed businessscenariosandreproducethemamongcustomersofthe long-termvaluetotheCompany. 1 II)Retailcustomers(individualcustomers) ThestatisticsinthissectiondonotincludethecustomerdataofSFDSC,NewHaviandKerryLogistics,whichareacquiredbytheCompany. 2 Thenumberofactivecreditaccountcustomersisderivedfromthenumber Asofthefirsthalfof2022,thenumberofindividual ofcustomerswithwhomtheCompanyhassignedcreditaccountagreementsmillionfromthebeginningoftheyear.Weincreasedtouch users. pointswithretailcustomersthroughmultiplechannels,online (2)Offline:①Scenarios:Weprovideadiverserangeof andoffline,toensurethegrowthofourretailbusiness: servicesbasedontheneedsofcustomers’dailyconsumption (1) Online: SF operates multiple contact channels scenarios,includingreturnserviceforonlineshopping,home includingWechat/Alipay/Baiduapp,etc.andeachmobilebrand delivery service, luggage delivery, family delivery, public app.Ontheonehand,theCompanycontinuouslyimproveits welfaredelivery,airport/high-speedrailwaystationself-service coverage of external cooperation channels, expanding more andHiveBoxlaundry,etc. ②Channels:Weexpandoffline cooperationscenariosandfunctionssuchasstudentzoneand channels such as self-owned outlets, urban stations, rural new version of gift delivery, among which new users on stations and regional agents to improve the density of end Wechat/Alipay/Baiduhavereached33millioninthefirsthalf channels,andasofthefirst halfof2022, therewereover of2022,withover14milliondailyactiveusers.Ontheother 152,000variousco-operatedterminaloutlets.Inparticular,the hand, theCompany focuses onbuilding thechannel of SF outletcoveragerateinruralareasroseby0.6percentagepoints Express app, launching multi-language and senior-friendly year-on-year. versionsandintegratingmoreservicecapabilities.Asofthe Throughonlineandofflinemanagementsystem,wereach endofJune2022,thedailyactiveappusersofamountedto customersthroughonlinechannelsinawell-targetedfashion, 2.356million,up11.1%fromthebeginningoftheyear,andthe and strengthen the attraction of new customers and the accumulatedregisteredappusersamountedtoover65million, retentionofreturnedcustomers,enlargingourcustomerpool; addingmorethan13millionfromthebeginningoftheyear, inofflinechannels,wesegmentbusinessscenariosandexpand withdailyactiveusersreached2.35million.SFExpressAppis offline channels to stimulate individual user activity and graduallybecomingoneofthemostpreferredcorechannelsfor increasepackage-deliveryfrequency. 3.Businessdevelopment I)Time-definiteexpress II)Economyexpress As of the first half of 2022, the Company’s time- Asofthefirsthalfof2022,theCompany’seconomydefiniteexpressbusinessachievedtax-exclusiveoperating expressbusinessachievedtax-exclusiveoperatingincomeof revenueofRMB49.26billion,up5.1%year-on-year.Time- RMB11.81 billion, down 7.3% year-on-year. The e-definitebusinesswasunderpressurefromMarchtoMaydueto commerce-oriented concessionary special delivery business thesubstantialimpactofthepandemicinfirst-tiercitiessuchas withalowgrossprofitmarginhasbeengraduallyphasedout Beijing,ShanghaiandShenzhen.However,associetyresumed amidproductrestructuringcarriedoutbasedontheCompany’s workandproduction,thegrowthrateoftime-definiteexpress differentiatedcompetitionstrategy.Aftertheoptimization,the revenueincreasedinJuneandgraduallyrecoveredsincethen. serviceandpricingtieroftheproductsandthedistinctionof theoperatingmodelareclearer,promotingtheprofitabilityof Inthefirsthalfoftheyear,theCompanycontinuedto economyexpress. consolidateandimprovethecompetitivenessoftime-definite service,optimizingtheorderfulfilmentrateoftime-definite (1)Directlyoperatedbrandserviceservice and reducing costs through air-ground network Wecontinuouslyoptimizetheproductstructureofdirect integration, optimizationof transitmodeandcollectionand e-commerceexpressservicefocusingon“e-commercestandard distributionmode,andimprovementofoperationcapabilitiesin express”,andcontinuouslyimprovetheperformancecapability both collection and distribution operations. Despite the throughoptimizingouroperationmode.Theorderfulfilment lockdown duringthepandemic, theorder fulfilmentrateof rate of time commitment of e-commerce standard express time-definiteservicestillincreasedby1.1percentagepoints increasedby2.6percentagepointsyear-on-year. year-on-year In the context of slowing consumption growth and The Company continues to expand the ultimate time- intensifyingcompetitionresultingfromthepandemic,various definiteserviceandfullypromotes“exclusiveexpeditedelivery”e-commerceplatformsareincreasinglyawareoftheimportance（未完）  |