This article is from the WeChat public account: Deep Capital (ID: deep_insights) , author: Cai Wang Po, from the head of FIG: IC photo
Liu Qiangdong once said: In the future, domestic private logistics companies, only Jingdong and SF will be alive. Judging from the current logistics landscape, his judgment is extreme but very predictable.
In the new crown pneumonia epidemic, SF Logistics, a representative of high-end self-operated logistics, performed well and efficiently completed the distribution of medical and living materials nationwide.
While the epidemic situation has initially eased, SF Logistics has once again heard good news. On February 28, SF Holdings (002352.SZ) issued an announcement that its subsidiary, SF Express, received USD 300 million in convertible debt financing. Its value is more than 10 billion yuan, and its investors include many well-known investment institutions such as CITIC Capital, Dinghui Investment, Junlian Capital.
Source: Company Announcement
According to the announcement, the financing of SF Express will be used to maintain the sustainable development of SF Express business, enhance the express brand and core competitiveness, and strengthen the construction of logistics network and technological research and development.
It is worth mentioning that this is already the third major financing in express transportation since 2020. Prior to January 20th, Aneng Logistics announced that it had received over 300 million US dollars in capital from Dajing Capital; on February 18, One Meter Tick announced that it had received nearly 1 billion yuan in D + rounds of financing.
Several leading companies in the fast-moving industry have successively obtained large amounts of financing, which has brought suspense to the competition of the “first share in the fast-moving industry”.
I. How exactly is SF’s strength?
In recent years, SF Holdings has continued to invest in the development of express freight business mainly based on To B less-than-truckload freight. As of the end of 2019, SF Express achieved operating income of more than RMB 12.5 billion and a net loss of RMB 379 million. In January 2020, it realized revenue of RMB 1.33 billion and a loss of RMB 2.04 million.
According to the Announcement on the 2019 Performance of Listed Companies disclosed by SF Holdings earlier, SF Holdings can achieve rapid growth in group revenue in 2019, which is very important because of its high revenue from new business sectors such as express transportation and supply chain. increase.
As the first company in A-share listed courier companies with annual revenue of more than 100 billion yuan, SF is definitely the big brother in the courier industry. SF Holdings achieved operating income of RMB 112.19 billion in 2019, an increase of 23.37% year-on-year; its net profit attributable to shareholders of listed companies was RMB 5.8 billion, an increase of 27.2% year-on-year, and the company’s net profit margin was 5.2%.