[年报]顺丰控股(002352):2022年年度报告（英文版）
原标题:顺丰控股:2022年年度报告（英文版） The Company’s Board of Directors, Supervisory Committee, directors, supervisors, and senior management hereby guarantee that the contents of the Annual Report are true, accurate, and Chapter 1 Important Information, Table of Contents and Definitions ........ 002complete, and that there are no misrepresentations, misleading statements, or material omissions, and shall assume individual and joint legal liabilities. Chapter 2 Company Profile and Key Financial Indicators.................. 006Wang Wei, the Company’s legal representative, Ho Chit, Chief Financial Officer (the person in charge of finance), and Hu Xiaofei, the accounting director, hereby declare and warrant that the financial Chapter 3 Management Discussion and Analysis ....................... 014report contained herein is true, accurate, and complete. All directors have attended the Board meeting at which the Annual Report was considered.Chapter 4 Corporate Governance ..................................073Forward-looking statements such as future development plans contained herein do not constitute any undertaking made by the Company to investors. Investors are advised to invest rationally and to take Chapter 5 Environment and Social Responsibilities ...................... 097into account possible investment risks. The Company is required to comply with the disclosure requirements about express delivery service Chapter 6 Significant Events ...................................... 100 industries presented in the Self-Regulatory Guidelines for Companies Listed on the Shenzhen Stock Exchange No. 3 – Industrial Information Disclosure. Chapter 7 Share Changes and Shareholder Details...................... 121In this Annual Report, the Company details the risk factors and countermeasures that may occur “ ” “ in the future. For more information, refer to Risk and Responses in Section XIII. Prospects of Chapter 8 Preferred Shares ....................................... 129” “ ” the Company of Chapter 3. Management Discussion and Analysis . Investors shall refer to this information. Chapter 9 Bonds............................................... 130The profit distribution proposal reviewed and approved by the Company’s Board of Directors is as follows: on the basis of the total share capital at the registration date on which the 2022 annual Chapter 10 Financial Statements ................................... 131profit distribution plan is to be implemented less the special shares repurchased by the Company, a cash dividend of RMB2.50 (including tax) will be distributed for every 10 shares held. There will be no bonus shares or conversion of equity reserve into share capital of the Company.List of Documents Available for Inspection Definitions Term Description (1) Financial statements signed and sealed by the legal representative, Chief Financial Officer and the accounting director of Reporting period January 1, 2022 to December 31, 2022 the Company. The same period of (2) The original copy of audit report containing the seal of the accounting firm and the signature and seal of the certified January 1, 2021 to December 31, 2021 previous year public accountant. The Company, the listed (3) The original copies of all documents and announcements of the Company which have been publicly disclosed in newspapers S.F. Holding Co., Ltd. Company, SF Holding, SF designated by the China Securities Regulatory Commission during the Reporting Period.RMB Renminbi (4) The original text of the 2022 annual report signed by the chairman of the Board of Directors.’ (5) The place where the above documents are maintained: the office of the Company’s Board of Directors. Ma anshan Dingtai Rare Earth and New Materials Co., Ltd., the predecessor of S.F. Holding Co., Ltd., was Dingtai New Materials renamed to S.F. Holding Co., Ltd. in February 2017. Taisen Holding Shenzhen S.F. Taisen Holding (Group) Co., Ltd., a wholly-owned subsidiary of S.F. Holding Co., Ltd.. ’ In December 2016, all assets and liabilities (exchange-out assets) of the Companys predecessor, Dingtai New Materials, were replaced with the equivalent 100% equity (exchange-in assets) of Taisen Holding held by all shareholders of Taisen Holding as of December 31, 2015, the valuation benchmark date. The Major asset restructuring difference between the exchange-in assets and the exchange-out assets was purchased by Dingtai New Materials, the Company’s predecessor, from all shareholders of Taisen Holding, in the form of issuing shares. Mingde Holding Shenzhen Mingde Holding Development Co., Ltd., the controlling shareholder of S.F. Holding Co., Ltd.. Kerry Logistics Network Limited, a company listed on the Main Board of the Stock Exchange of Hong Kong Kerry Logistics Limited (00636.HK), is a holding subsidiary of S.F. Holding Co., Ltd..SF Intra-city, Intra-city Hangzhou SF Intra-city Industrial Co., Ltd., a company listed on the Main Board of the Stock Exchange of Industrial Hong Kong Limited (09699.HK) is a holding subsidiary of S.F. Holding Co., Ltd..SF Real Estate Investment Trust, listed on the Main Board of the Stock Exchange of Hong Kong Limited SF REIT (02191.HK), is an associate of S.F. Holding Co., Ltd.. CSRC China Securities Regulatory Commission SZSE Shenzhen Stock Exchange HK Stock Exchange The Stock Exchange of Hong Kong Limited HK SFC The Securities and Futures Commission of Hong Kong Information Disclosure and Location of Annual Report I. Company Information Stock Exchange Website for the Annual Report Disclosed by Shenzhen Stock Exchange the Company Company Information Name and Website of Media for the Annual Report Securities Times, Shanghai Securities News, China Securities Journal, Disclosed by the Company Securities Daily and CNINFO ( www.cninfo.com.cn)Stock Abbreviation SF Holding Stock Code 002352 Place Where the Annual Report is Available for Inspection Office of the BoardStock Exchange Shenzhen Stock Exchange Chinese Name of the Company 顺丰控股股份有限公司 Chinese Name Abbreviation of the Registration Changes 顺丰控股 Company Organization Code 91340500150660397M English Name of the Company (If Any) S.F. Holding Co., Ltd. Changes in Main Business Since Listing of the Company English Name Abbreviation of the There was no change during the Reporting Period. SF Holding (If any) Company (If Any) Historical Changes in Controlling Shareholders (If any) There was no change during the Reporting Period. Legal Representative of the Company Wang Wei Registered address Room 101, Huaide Road No. 46, Huaide Community, Fuyong Street, Bao’an District, Shenzhen Zip Code of Registered Address 518103 Other Relevant InformationIn January 2018, the registered address of the Company was changed from “Dangtu Industrial Accounting firm engaged by the Company Park, Ma’anshan City, Anhui Province” to “Room 801, Floor 8, Wanfu Building, No. 303, Fuyong Historical Changes of the Registered Avenue, Bao’an District, ShenzhenAccounting Firm Name PricewaterhouseCoopers Zhong Tian LLP Address of the Company In February 2023, the registered address of the Company was changed from “Room 801, 8/F, Floor 11, PricewaterhouseCoopers Center, Tower 2 of Link Reit Corporate Wanfu Building, No. 303 Fuyong Avenue, Bao’an District, Shenzhen” to “Room 101, No. 46 Office Address of the Accounting Firm Plaza, No.202, Hubin Road, Huangpu District, Shanghai, ChinaHuaide South Road, Huaide Community, Fuyong Street, Baoan District, Shenzhen”’ Signing Accountants Names Chen Anqiang, Liu Jingping Block B, TK Chuangzhi Tiandi Building, Keji South 1st Road, Nanshan District, Shenzhen, Office Address Guangdong Province, China Sponsor institution engaged by the Company to perform continuous supervision duties during the Reporting Period Zip Code of Office Address 518057 Name of Name of Sponsor Continuous Company Website www.sf-express.com Office Address of Sponsor Institution Sponsor Institution Supervision Period Representative Email [email protected] Huatai United Securities Co., Floor 27 and Floor 28, Fund Building, No. 5999, Yitian Long Wei, Ning November 19, 2021 to Ltd. Road, Futian District, Shenzhen Xiaobo December 31, 2022China International Capital Floor 27 and Floor 28, China World Tower 2, No. 1, Tian Dan, Long November 19, 2021 to Contacts and Contact Methods Corporation Limited Jianguomenwai Avenue, Beijing Hai December 31, 2022Board Secretary Securities Affairs Representative Financial adviser engaged by the Company to perform continuous supervision duties during the Reporting Period Name Ling Gan Jing Zeng □ Applicable √ Not applicable Block B, TK Chuangzhi Tiandi Building, Keji South Block B, TK Chuangzhi Tiandi Building, Keji South Address 1st Road, Nanshan District, Shenzhen, Guangdong 1st Road, Nanshan District, Shenzhen, Guangdong Province, China Province, China Tel No. 0755-36395338 0755-36395338 Fax 0755-36646688 0755-36646688 Email [email protected] [email protected] II. Key Operating and Financial Data Volume Revenue II. Key Operating and Financial Data Volume Revenue 20202020 20212021 20222022 20202020 20212021 20222022 The volume does neither include the volume of Kerry Logistics express The volume does neither include the volume of Kerry Logistics exprThe volume does neither include the volume of Kerry Logistics express ess shipments, nor does it include the business volume of the Company's Net assets attributable to the parent shipments, nor does it include the business volume of the Company's shipments, nor does it include the business volume of the Company's international freight and agency, and supply chain Net assets attributable to the parNet assets attributable to the parent ent 3 Gross pro?t company interinternational frnational freight and agencyeight and agency, and supply chain, and supply chain 33 Net pro?t attributable to the parent 1.7%1.7% 2.0%2.0% Net prNet pro?t attributable to the paro?t attributable to the parent ent 1 18.9% Basic earnings per share company Economy express 32.8% Economy exprEconomy expressess 39.5% Freight 2.4% 32.8%32.8% 39.5%39.5% 47.8% RMBRMB6.176.17billionbillion 44.644.6%% RMBRMB1.271.27//shareshare 36.636.6%% IntrIntra-city on-demand deliva-city on-demand delivereryy Supply chain and international business Supply chain and intSupply chain and internaernational businesstional business13.2% Other non-logistics business 13.2%13.2% Other non-logisOther non-logistics businesstics business2.4% 2.4%2.4% Net pro?t attributable to the parent 3.2% Net prNet pro?t attributable to the paro?t attributable to the parent ent 3.2%3.2% 9.6% 12.3% company after deducting non-recurring 10.4% 12.3%12.3% 9.6%9.6% company after deducting non-rcompany after deducting non-recurring ecurring 42 10.4%10.4% Return on net assets pro?t or loss 44
00 Time-de?nite Economy express Freight Cold chain and Intra-city Supply chain and Other non-logistics 1. Net pro?t attributable to the parent refers to the net pro?t attributable to the shareholders of the listed company TTime-de?nite ime-de?nite Economy expressEconomy express FFreightreight Cold chain and Cold chain and Intra-city Intra-city Supply chain andSupply chain and Other non-logisticsOther non-logistics express pharmaceuticals on-demand delivery international business business1. 1. Net pro?t attributable to the parent refers to the net pro?t attributable to the shareholders of the listed companyNet pro?t attributable to the parent refers to the net pro?t attributable to the shareholders of the listed company 2. Pro?t attributable to the parent company after deducting non-recurring pro?t or loss refers to the net pro?t attributable to shareholders of the listed company after deducting non-recurring pro?t or loss expressexpress pharmaceuticalspharmaceuticals on-demand deliveryon-demand delivery international business international business businessbusiness 2. 2. Pro?t attributable to the parent company after deducting non-recurring pro?t or loss refers to the net pro?t attributable to shPro?t attributable to the parent company after deducting non-recurring pro?t or loss refers to the net pro?t attributable to shareholders of the listed company after deducting non-recurring pro?t or loareholders of the listed company after deducting non-recurring pro?t or lossss 3. The net assets attributable to the parent refers to the net assets attributable to the shareholders of the listed company 3. 3. The net assets attributable to the parent refers to the net assets attributable to the shareholders of the listed companyThe net assets attributable to the parent refers to the net assets attributable to the shareholders of the listed company 4. Return on net assets represents weighted average return on net assets4. 4. Return on net assets represents weighted average return on net assetsReturn on net assets represents weighted average return on net assets Financial summary Gross pro?t Quarterly gross pro?t Financial summary Gross pro?t Quarterly gross pro?t deduction of non-recurring profit or loss in the most recent three fiscal years is positive, and the audit report of the most recent year shows that there is no Net pro?t attributable to the parent company Quarterly net pro?t attributable to the parent uncertainty as to the Company’s ability to continue as a going concern. & Net pro?t attributable to the parent company company after deducting non-recurring pro?t after deducting non-recurring pro?t or loss or loss Changes at this Units: RMB100 million Units: RMB100 million to the parent company company after deducting non-recurring company after deducting non-recurring parent company after deducting (RMB’000) End of 2022 End of 2021 compared with End of 2020pro?t or loss pro?t or loss 2021 non-recurring pro?t or loss 2022 Net pro?t attributable to the parent to the parent company company after deducting non-recurring company after deducting non-recurring previous year (RMB) 2022 2021 year over the 2020 Assets Net cash ?ow previous year Units: RMB100 million Units: RMB100 million 2021 2022 Basic earnings per share 1.27 0.93 36.56% 1.64to the parent company Diluted earnings per share 1.27 0.93 36.56% 1.64 Major financial data by quarter Non-recurring profit or loss items and amounts(RMB’000) First quarter Second quarter Third quarter Fourth quarter (RMB’000) 2022 2021 2020 Description Revenue 62,984,185 67,079,948 69,083,218 68,343,063 Please refer to Note 5(2) of Chapter 10 Investment income from disposal of subsidiaries 32,314 1,808,638 443,625Cost of revenue 55,263,558 58,514,752 60,637,225 59,656,825 Financial Statements for details. Gross profit 7,720,627 8,565,196 8,445,993 8,686,238 It mainly represents Net profit attributable to shareholders of the parent company 1,022,140 1,490,257 1,959,559 1,701,808 Non-current asset disposal gains and losses (including the 374,595 105,502 -52,899 the gains arising from write-off part of the provision for impairment of assets) disposal of associates. Net profit attributable to shareholders of the parent company 911,818 1,236,038 1,715,549 1,473,519 after deducting non-recurring profit or loss It mainly represents government subsidies Net cash flow generated from operating activities 4,807,300 11,905,514 7,663,876 8,326,257Government subsidies included in the current profit and arising from fiscal loss (except for government subsidies that are closely appropriation, tax There is no difference between the above-mentioned financial indicators or their total amount and the relevant financial indicators in the related to the Company’s normal business operations, 826,447 857,458 1,032,230 refund, grants quarterly and interim reports disclosed by the Company. and are in line with national policies and are continuously for employment granted on a certain standard or quantitative basis) stabilization, and transportation capacity Major financial data of operating segments subsidies, etc. External income Gain arises when the investment cost of an enterprise to obtain subsidiaries, associates and joint ventures is less (RMB’000) 2022 2021 Year-on-year change – 2,375 – than the fair value of the investee’s identifiable net assets Express segment 138,410,580 132,319,106 4.60% when it obtains the investmentFreight segment 31,354,280 28,356,404 10.57% In addition to the effective hedging business related to the Company’s normal business operations, the profit or Intra-city segment 6,567,057 5,117,905 28.32% loss from fair value changes in holding held-for-trading financial assets and held-for-trading financial liabilities, as 47,500 151,606 139,467Supply chain and international segment 89,916,599 39,979,632 124.91%well as the investment income from the disposal of held- for-trading financial assets and held-for-trading financial Undistributed units 1,241,898 1,413,600 -12.15% liabilities Total 267,490,414 207,186,647 29.11% Reversal of provisions for impairment of accounts receivable that have been separately tested for 94,297 46,264 –impairment Net profit Other non-operating income and expenses other than the -73,330 -136,453 -153,227 ’ (RMB 000) 2022 2021 Year-on-year change above Express segment 5,459,146 3,832,187 42.46% Less: Income tax impact 235,481 381,549 196,455Freight segment 27,677 -582,308 104.75% Impact on minority shareholders’ equity (after tax) 229,502 18,942 18,999 Intra-city segment -286,903 -898,851 68.08% Total 836,840 2,434,899 1,193,742Supply chain and international segment 1,945,862 615,252 216.27%Note: The Company does not have other profit and loss items that meet the definition of non-recurring profit or loss; the Company does not define the non- recurring profit or loss listed in the Explanatory Announcement No. 1 on Information Disclosure of Companies Offering Securities to the Public Non- Undistributed units -122,737 965,462 -112.71% recurring Profit or Loss as recurring profit or loss.Inter-segment elimination -19,425 -12,529 -55.04% Differences in accounting data under domestic and foreign accounting standardsTotal 7,003,620 3,919,213 78.70% 1. Difference in the net profit and net assets in the financial reports disclosed in accordance with the International Accounting Standards Note: and the Chinese Accounting Standards: (1) The Company carried out multi-network coordination continuously so that the large parcel (generally those are heavier than 20KG with restricted flow direction and distance) business of time-definite express and economy express business (which are under operation by express segment) were included in the □ Applicable √ Not applicable responsibility of the freight organization step by step. Therefore, the data on “large parcel express” was included in the segment data of freight. 2. Difference in the net profit and net assets in the financial reports disclosed in accordance with overseas accounting standards and in (2) The corresponding relationship between the operating segments and the Company’s principal business segments was: the express segment included time- definite express and economy express businesses other than large parcel express business included in the responsibility of the large parcel organization accordance with the Chinese Accounting Standards: mentioned in item (1), as well as cold shipping and pharmaceutical businesses; the freight segment included the large parcel express business, and freight business; the intra-city segment was mainly intra-city on-demand delivery business; the supply chain and international segment mainly was international of a long-term and stable relation between production and of the express delivery market as well as the legitimate rights I. Industry Review in 2022 marketing, expanding the networks of cold chain logistics in rural and interests of couriers. The “price war” trend of the express areas and promoting the construction of the infrastructure for delivery market was promptly curbed. (2) In terms of market the warehousing and storage in the growing areas of different demand, the consumer market growth was slowing down, while agricultural products, preservation and cold chain logistics in the marketing channels and traffic were more diversified. As 1. Environment and Growth of the Logistics 2. Industry planning and policy directionscounties. (2) In terms of connecting with manufacturers, the new e-commerce platforms (e.g., live streaming and short Industry I) Chinese government is dedicated to expanding domestic the State Post Bureau carried out the “5312” project program video clips) were rapidly emerging in the last two years, the demand and promote economic development, which is of serving the advanced manufacturing industry with express large platforms and corporate customers paid more attention ’ I) Chinas macro-economy has achieved a steady growth, conducive to the recovery of the logistics industry. In delivery service and the typical project of in-depth integration of to consumer service experience than ever before, and therefore and its economic operation is more resilient than ever December 2022, the Central Economic Work Conference made national express delivery service and the advanced manufacturing asked for shorter delivery time and better service quality. Express before. In the era of VUCA, the external environment is clear that “putting forth effort to expand domestic demand and industry. The State Post Bureau was taking the establishment delivery enterprises were given impetus to change the ways increasingly uncertain. Inflation in Europe and the United States, ” recover and expand consumption should be prioritized for the and development of pilot zones to a higher level. The following how they compete from “same quality with a lower price” to rising energy prices, the sluggish consumer spending, geopolitical macro-control of 2023. According to the Outline of the Strategic “ ”actions shall be taken: improving the coverage of express delivery diversities in quality and customer bases . (3) In terms of the risks, and other factors are affecting the normal development of Plan to Expand Domestic Demand (2022-2035)* (《扩大内需战 facilities and services in manufacturing parks; establishing direct supply of the logistics industry, “the Matthew effect” remained. global economy and trade. Even though being confronted with 略规划纲要(2022－2035 年)》) issued by the Central Committee links between production and marketing for key express delivery According to the data published by the State Post Bureau, the numerous difficulties, China’s economic operation is generally of the Chinese Community Party and the State Council and the enterprises and key manufacturers to establish mutually beneficial, CR8 of express delivery service brands of 2022 was 84.5%, higher stable, highlighting its development resilience. According to Implementation Plan for Expanding Domestic Demand During the all win, long-term and stable strategic cooperative relations. than 80.5% of 2021, and the concentration ratio was further the data published by National Bureau of Statistics, the annual “14th Five-Year Plan” Period* 《( “十四五”扩大内需战略实施方案》) (3) In terms of going overseas, express delivery enterprises improved. However, in the context of the slowdown of upstream GDP of China totaled RMB121.02 trillion in 2022, representing issued by the National Development and Reform Commission, and advanced manufacturers are encouraged to cooperate with incremental demand and the limited space for cutting costs, an increase of 3.0% over the previous year at constant prices. expanding domestic demand has become an important part each other to set up an independent, controllable, safe and the competition among leading express delivery enterprises was China has the world’s second largest economy by GDP. China’s ’ of China s policies. Expanding domestic demand will bring reliable international postal and delivery logistics supply chain, intensifying. Express delivery enterprises actively promoted service total import & export values totaled RMB42.07 trillion in 2022, opportunities to the development of the logistics industry as support express delivery enterprises to actively develop overseas and products stratification, enhanced networks capabilities, and representing an increase of 7.7% over the previous year. The total consumption and manufacturing recover. businesses, improve the capacity of domestic and international improved outlets service. The competition in the logistics industry value of exports showed a year-on-year increase of 10.5%. postal and delivery hubs, develop multi-modal transport featuring has gradually shifted from the price war to the competition for II) China vigorously promotes the construction of modern land transport, water transport and air transport, improve the service quality, differentiation and diversities in services and the II) The size of the consumer market in 2022 was flat logistics. In May 2022, the State Council issued the Plan for international comprehensive transport capacity, and enhance the stability of networks.compared to that in 2021, and online shopping penetration Modern Logistics Development During the “14th Five-Year Plan” stability of the industrial chain. rate increased in 2022. The demands for domestic consumer Period, which is the first national five-year plan in the field of II) Industry integration through mergers and acquisitions market are yet to recover. According to the data published by the modern logistics, making clear that promoting the modernization IV) The logistics industry development focuses on intelligent continued in China. Concentration ratio of express delivery National Bureau of Statistics, the total retail sales of consumer of the logistics industry has national strategic significance. and green logistics. (1) According to the Plan for Modern industry remained high in 2022, whereas that of other logistics goods of 2022 was RMB43.97 trillion, representing a decrease of (1) The logistics infrastructure has been comprehensively Logistics Development During the “14th Five-Year Plan” Period, sectors in China (e.g., less-than-truck-load transport, cold chains, 0.2% over the previous year. The retail sales of goods increased improved, and China will vigorously support the construction the following actions shall be taken: accelerating the digital integrated logistics and cross-border logistics) were still low. by 0.5%, and the catering revenue decreased by 6.3%. The online of national logistics hubs, international transit hubs, air cargo ’ transformation of logistics, promoting the transformation According to the list of Chinas Top 50 logistics Enterprises for retail sales of physical goods of 2022 in China were RMB11.96 hubs, high-speed rail freight, cold chain logistics and other and upgradation of logistics infrastructure by classification, the Year 2022*(2022 年度中国物流企业50强) published by trillion, representing a year-on-year increase of 6.2%. The infrastructure. (2) Industry standards have been improved, and the accelerating the construction of relevant facilities of the China Federation of Logistics & Purchasing, the total revenue percentage of the online retail sales of physical goods in the total logistics standard specification system has been further improved. internet of things (IoT), developing new logistics infrastructure of the top 50 logistics enterprises on the list for the year 2022 Standardized, containerized and modular logistics loading tools retail sales of consumer goods in 2022 was 27.2%, representing (e.g. intelligent logistics hubs, intelligent logistics parks, was RMB1.94 trillion, accounting for approximately 15% of the and packaging basic modules have been widely used. (3) The a year-on-year increase of 2.7%. The penetration rate of online intelligent warehouse logistics bases, intelligent ports and revenue of the entire logistics market, which indicated that the innovation ability and competitiveness of enterprises have been shopping further increased. digital warehouses), expanding the commercial application concentration ratio of China’s logistics market was relatively low, significantly enhanced, encouraging the digital transformation scenarios of intelligent logistics, promoting the application of thus huge potential for industry integration. International logistics III) The logistics market was under short-term pressure, and of the logistics industry, promoting the integrated development automation, unmanned and intelligent logistics technologies and giants all expand through continuous mergers, acquisitions and China’s express delivery sector was still growing. Logistics is of the logistics industry and manufacturing industry, cultivating equipment, automatic perception, automatic control, intelligent integration. The size of China’s logistics market has the potential the weatherglass of the economy. In 2022, the domestic logistics backbone logistics enterprises and well-known service brands with decision-making technologies and other technologies. (2) Relevant to cultivate the world’s leading logistics players. With the industry was under pressures from limited demand and rising international competitiveness, and supporting the development policies laid stress on the importance of green logistics. The State gradual macroeconomic recovery, it is expected that the logistics costs, which disturbed both the demand and supply of the logistic of “specialized, proficient, special and new” modern logistics Post Bureau launched the “9917” program of green development, industry’s domestic and foreign investment and financing as well supply chain, but the overall operation was stable. According to enterprises. focusing on promoting logistics enterprises to strengthen green as the integration through M&As will become more active than the data published by China Federation of Logistics & Purchasing, energy conservation and low-carbon management, strengthen ever before.“ III) Encouraging the express delivery enterprises to cover the average Logistics Prosperity Index of 2022 was 48.5%, the research and development and application of new green rural areas, connect with manufacturers and go overseas” III) Continuous transformation of logistics services towards down by 4.9 percentage points as compared to last year. The logistics technologies and equipment, promote the use of recycled has become the long-term development plan of the country digital supply chains. The digital era features more diversified total cost of social logistics was RMB17.8 trillion, representing packaging, reduce excessive packaging and secondary packaging, for the express delivery industry. (1) In terms of covering business models and channels with less middlemen than ever a year-on-year increase of 4.4%. The percentage of the total and accelerate the standardization of the logistics industry. The rural areas, some of the proposals of the Opinions on Effectively before. The production and supply model has shifted from cost of social logistics in GDP was 14.7%. According to the data Company saw effective improvement in green express packaging Completing the Key Work of Comprehensively Promoting producing on a large scale to a small scale and delivering published by the State Post Bureau, 110.58 billion deliveries were in 2022. Nearly 15 million recyclable express boxes were placed, Rural Revitalization in 2022 (Document No. 1 of the Central in batches. Therefore, an increasing number of enterprise made in China in 2022, representing a year-on-year increase of and 700 million corrugated boxes were recycled and reused Government for 2022) are as follows: To speed up the network customers have begun to build a consumer-centric, flexible, 2.1%. In terms of parcel volume, China has ranked first in the respectively by delivery companies throughout the year. development of express delivery service networks in rural areas, to agile and responsive digital supply chain system to adapt to world for nine years in a row. The revenue of China’s express carry out the program of “express delivery covering rural areas* the current market competition environment. Logistics players delivery business of 2022 was RMB1.06 trillion, representing a 3. Industry landscape, competition and (快递进村)”, encouraging the development of integrated stations pay more attention to their own digital construction to improve year-on-year increase of 2.3%. The Average Selling Price (ASP) development featuring passenger transport, freight transport and postal service service efficiency and network flexibility. The application of increased steadily, indicating that the express delivery industry in in villages and towns and integrated stations of postal and delivery advanced logistics technology and in-depth cooperation with China was heading for high-quality development. I) Express delivery industry focuses on service quality enterprises and logistics enterprises in rural areas, promoting the industry customers help to promote the digital transformation competition. (1) In terms of industry supervision, the government unified delivery for counties, townships and villages, speeding up of customers’ supply chains, and reduce costs and increase strengthens the guidance and supervision of the express industry IV) Map out their global service networks and build stable officially in 2022, and SF Terminal Forwarding center* (顺丰枢纽 II. Business development of the Company international supply chains. It is increasingly urgent to regain 转运中心) will go into operation officially in 2023 center, they will “ ” the vitality of taking the place of Made in China on the become an important strategic infrastructure for the Company international market. The global networks and operation capacity to follow the dual circulation strategy, build a central land-sea SF Holding is the largest integrated logistics service provider in China and the fourth largest in the world. Focusing on the logistics of logistics industry give strong backing to the establishment corridor and an air transport corridor, and help the Company ecosystem, the Company has consistently built on its service capabilities, and has diversified into eight segments, namely time-definite “ ” “ of the external (international) circulation . As the Made in develop logistics networks with international competitiveness, express, economy express, freight, cold chain and pharmaceutical, intra-city on-demand delivery, supply chain and international business ” China and Chinese brands are embedded in the global value connecting China with the rest of the world. (including international express, international freight and freight forwarding, and supply chain), which can provide customers with domestic chains with increasingly prominent positions, and they need II) The Company stays ahead of its competitors in multiple and international end-to-end one-stop supply chain services. Meanwhile, leveraging our leading technology research and development to be supported by services of logistics networks with a global logistics segments. Relying on the fast, punctual and safe capabilities, we will strive to create a digital supply chain ecosystem, and become a front runner in the global smart supply chain. coverage. Cross-border e-commerce has developed rapidly, and door-to-door service capability, the Company’s time-definite its potentialities are further brought into play. According to the express business holds a safe lead in the domestic market. After Business Segments data published by the National Bureau of Statistics, the import years of incubation and M&A integration, the Company also ’ and export values of Chinas cross-border e-commerce totaled IV) Map out their global service networks and build stable officially in 2022, and SF Terminal Forwarding center* (顺丰枢纽 II. Business development of the Company international supply chains. It is increasingly urgent to regain 转运中心) will go into operation officially in 2023 center, they will “ ” the vitality of taking the place of Made in China on the become an important strategic infrastructure for the Company international market. The global networks and operation capacity to follow the dual circulation strategy, build a central land-sea SF Holding is the largest integrated logistics service provider in China and the fourth largest in the world. Focusing on the logistics of logistics industry give strong backing to the establishment corridor and an air transport corridor, and help the Company ecosystem, the Company has consistently built on its service capabilities, and has diversified into eight segments, namely time-definite “ ” “ of the external (international) circulation . As the Made in develop logistics networks with international competitiveness, express, economy express, freight, cold chain and pharmaceutical, intra-city on-demand delivery, supply chain and international business ” China and Chinese brands are embedded in the global value connecting China with the rest of the world. (including international express, international freight and freight forwarding, and supply chain), which can provide customers with domestic chains with increasingly prominent positions, and they need II) The Company stays ahead of its competitors in multiple and international end-to-end one-stop supply chain services. Meanwhile, leveraging our leading technology research and development to be supported by services of logistics networks with a global logistics segments. Relying on the fast, punctual and safe capabilities, we will strive to create a digital supply chain ecosystem, and become a front runner in the global smart supply chain. coverage. Cross-border e-commerce has developed rapidly, and door-to-door service capability, the Company’s time-definite its potentialities are further brought into play. According to the express business holds a safe lead in the domestic market. After Business Segments data published by the National Bureau of Statistics, the import years of incubation and M&A integration, the Company also ’ and export values of Chinas cross-border e-commerce totaled
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