SF expects to turn losses into profits in the first quarter of this year.
On April 11, S.F.Holding Co.Ltd(002352) ( S.F.Holding Co.Ltd(002352) S.F.Holding Co.Ltd(002352) .sz) released the performance forecast for the first quarter of 2022. The profit in the first quarter of this year is expected to be 950 million to 1.1 billion yuan, a year-on-year increase of 196% to 211%, while the loss in the same period of last year is 989 million yuan. It is estimated that the net profit attributable to shareholders of listed companies after deducting non recurring profits and losses in the first quarter is 850 million yuan to 1 billion yuan, with a year-on-year increase of 175% to 188%.
The announcement said that although the company’s business volume fluctuated in March due to the closure and control of the epidemic in some cities in China, it still achieved good operating results in the first quarter and turned losses into profits compared with the same period last year.
The announcement said that it was mainly due to the active optimization of product structure, the reduction of the number of low gross profit products, the improvement of business profitability and the year-on-year loss reduction of new business. It also includes adhering to lean cost control, improving input-output efficiency, improving the management of resource use efficiency by means of science and technology, continuously promoting the integration of four networks, strengthening the integration of site and line resources, and strengthening the resource coordination across business sectors during the Spring Festival. In addition, it also benefited from the merger of Kerry Logistics networking Co., Ltd. since the fourth quarter of 2021.
Last year S.F.Holding Co.Ltd(002352) achieved a revenue of 207187 billion yuan, a year-on-year increase of 34.55%. The net profit attributable to the parent company was 4.269 billion yuan, a year-on-year decrease of 41.73%. Among them, there was a sudden loss in the first quarter of last year, and the net profit deducted from non parent company was -1.13 billion yuan, a year-on-year decrease of 236.3%. From the second quarter, benefiting from the optimization of business measures and management, the company gradually turned losses into profits, and the net profits deducted from non parent companies were 660 million yuan, 810 million yuan and 1.5 billion yuan respectively.
Wang Wei apologized to shareholders for the sudden loss of performance in the first quarter of last year at the shareholders’ meeting in April last year. Wang Wei also said that the company will not blindly burn money to do new business, but if short-term profit pressure can exchange for long-term competitiveness and have the opportunity to build SF into an indispensable choice in the market, he is willing to lower the profit margin expectation in the next 1 to 2 years, which is an important strategy.
After the performance pressure in the first quarter of last year, S.F.Holding Co.Ltd(002352) put forward the “pursuit of sustainable and healthy development” in the second half of 2021. SF said it is the substantive signal of the priority adjustment of the company’s business strategy, which also means that the company will give priority to the pursuit of long-term, sustainable and healthy profits. From the product perspective, SF’s strategy throughout 2022 is basically subtraction, which needs to be more clearly presented to customers.
According to the record of SF investor relations activities on March 30, SF executives said that the past long-term investment, continuous improvement of refined management and control ability and diversified logistics product matrix made SF confident to become the company with the fastest business recovery after the epidemic in the industry.
Express expert Zhao Xiaomin also told surging journalists earlier, ” S.F.Holding Co.Ltd(002352) the loss in the first quarter of 2020 is a short-term phenomenon and will not continue to appear in the future. The short-term problems caused by the untimely efficiency of its pre investment have been fully reflected in the capital market. From the trend of the capital market, the lowest point of SF’s share price has passed. If measured in three years, SF is bound to beat the high point set in the previous period.”
As of the closing on April 11, S.F.Holding Co.Ltd(002352) reported 49.5 yuan, up 2.57%. Year to date down 28.18%.
