On January 28, S.F.Holding Co.Ltd(002352) released the performance forecast. It is estimated that the net profit attributable to the shareholders of the listed company from January to December 2021 will be 4.2 billion yuan to 4.4 billion yuan, a year-on-year decrease of 40% to 43%. It is worth noting that S.F.Holding Co.Ltd(002352) has ushered in the best fourth quarter performance since its listing. It is estimated that the net profit in the fourth quarter of 2021 will be 2.4 billion yuan to 2.6 billion yuan, an increase of 39% to 50% year-on-year; It is estimated that the net profit after deducting non-profit is 1.45 billion yuan to 1.6 billion yuan, with a year-on-year increase of 41% to 56% and a month-on-month increase of 79% to 98%.
In the first quarter of 2021, after the company’s first performance loss after listing, S.F.Holding Co.Ltd(002352) quickly optimized its business measures in the second quarter, promoted the gradual improvement of performance, and the net profit in the fourth quarter accounted for almost 50% of the annual net profit; In December 2021, the company’s single ticket revenue reached 16.43 yuan / ticket, with a month on month increase of 3.85% and a year-on-year increase of 0.43%.
Looking back on 2021, it can be seen that S.F.Holding Co.Ltd(002352) strengthens healthy operation and high-quality development by focusing on the core business of logistics; Actively optimize the product structure and customer structure by adjusting the pricing strategy to improve the single ticket revenue; Through science and technology to help predict and match accurate resource investment, with the four networks integration and the automatic upgrading of transfer stations, the operation efficiency and resource utilization rate have been steadily improved, and lean management and control has been realized; At the same time, the company repaired both inside and outside, and consolidated Kerry Logistics in the fourth quarter, which quickly reversed the profitability and showed the company’s strong resource control strength.
In the fourth quarter of 2021, S.F.Holding Co.Ltd(002352) achieved a breakthrough by leaps and bounds. One of the most important reasons is the major breakthrough in international business and the completion of the consolidation of Kerry Logistics. On September 28, 2021, S.F.Holding Co.Ltd(002352) successfully acquired 51.5% shares of Kerry Logistics and consolidated in the fourth quarter, which also led to a significant increase in the revenue and net profit of S.F.Holding Co.Ltd(002352) in the fourth quarter.
According to the monthly data, the revenue of S.F.Holding Co.Ltd(002352) reached 723.86 yuan in the fourth quarter, an increase of more than 65% year-on-year in the fourth quarter of 2020.
In addition, after Kerry Logistics was incorporated into SF system, SF supply chain and international business revenue maintained a strong growth momentum. Monthly data showed that the revenue in October, November and December 2021 reached RMB 8.747 billion, RMB 9.611 billion and RMB 9.109 billion respectively, with a year-on-year increase of 779.10%, 639.31% and 534.77%. Analysts at Huachuang Securities said that from the performance after consolidating Kerry’s logistics business revenue in October 2021 S.F.Holding Co.Ltd(002352) , the business growth from Kerry itself may exceed market expectations.
