Results Highlights
-- Revenue was
-- Gross profit and gross profit margin improved significantly, as the Group successfully achieved a gross profit of
-- Net loss margin has continued to improve over the years, narrowing significantly to 3.2%
-- Revenue from intra-city delivery service increased by 29.2% YoY to
-- Revenue from the strong performance of non-food delivery scenarios increased 32.4% YoY to
-- Annual active merchants reached 299,000, representing YoY growth of 31.2%, and the Group has served over 2,900 brand customers cumulatively
-- With further optimization of scale and efficiency, diversified product coverage and a multi-scenario business model, SF Intra-City reported promising results once again
During the Period, intra-city delivery to consumers, non-food scenarios(3) and continued expansion in lower-tier cities(4) became the main drivers for the business, while the Group's diversified revenue structure strengthened its resilience. The Group saw its core business indicators continue to improve, achieving solid revenue growth to
SF Intra-City said, "Following our successful full year performance, we are pleased that the Company continued to achieve encouraging interim results this year. Despite the challenges from the macro environment and the impacts of the pandemic, we continued to develop new delivery scenarios and expand our business, while maintaining steady growth in revenue as our core business indicators continued to improve. It is also great to see that we successfully achieved a significate improvement in gross profit and gross margin."
Business Review
Maintained High Growth in Intra-City Delivery Service
Revenue from intra-city delivery service increased by 29.2% year-on-year ("YoY") to
Intra-city Delivery to Merchants
The number of annual active merchants reached 299,000, representing a YoY increase of 31.2%, and the Group served over 2,900 brand customers cumulatively. Thanks to the Group's high-quality, stable and customer-centric services, its customer loyalty and retention rate have improved, with the retention rate for its Top 100 key account customers increasing to approximately 90%. Revenue from intra-city delivery to merchants was
SF Intra-City also strategically cooperated with
Intra-city Delivery to Consumers
During the Period, the revenue from intra-city delivery to consumers grew 50.1% YoY to
In the first half of 2022, the Group continued to optimize the quality of its products and services for individual consumers. By providing high-standard services and a standardized collection and delivery process, the Group enables consumers to enjoy better delivery experiences. Meanwhile, considering that the majority of orders from consumers consist of mid-to-long-distance deliveries or non-standard service needs, the Group has built a team of "pioneer riders" exclusively dedicated to individual consumer orders to achieve better performance in order-pick-up rate, completion rate and fulfillment-in-time rate. Even during peak times such as holidays, our fulfillment-in-time rate fluctuated by no more than 3.0%.
Last-mile Delivery Advantage Further Strengthened through High-Quality Service
Revenue from last-mile delivery service increased by 6.8% to
Technology Empowers Improvements in Rider Network
The CLS adopted by the Group has three core functions, namely business forecast and planning, integrated order recommendation and dispatching and real-time operation monitoring, enabling the Group to optimize the scheduling of riders in different industries and scenarios across complex delivery networks. The Group's highly efficient real-time order dispatching system supports the complex delivery network, which has different layers of geographical coverage, including store level, business district level and city level. With the aforementioned threefold delivery network, the Group is able to dynamically and flexibly adjust order dispatching, shorten delivery time and lower delivery costs. In order to further improve its terminal delivery capability and deploy its smart delivery network, the Group successfully launched its on-demand drone delivery service, providing a new service experience for intra-city on-demand delivery of goods.
The Company concluded, "In the face of the complex external environment and the challenges of the pandemic, and thanks to our riders and staff, who remained their posts, SF Intra-City was proud to actively participate in the anti-pandemic efforts through supply delivery work with other stakeholders, as well as through helping merchants and consumers solve their 'last-mile' difficulties. Looking ahead, we will continue to broaden our range of service scenarios and industry solutions, optimize our business structure, and enhance our value by creating differentiated service capabilities, so as to ensure high-quality and stable consumer experience and empower merchants' business operations. We firmly believe in the long-term value of local lifestyle services and real-time services and will strive to realize profitability and create long-term value for our shareholders."
About
SF Intra-City focuses on the emerging opportunities of intra-city on-demand delivery services. Since 2019, SF Intra-City has operated as an independent legal entity to capture the growth opportunities arising from the new consumption trends. SF Intra-City adopts a multi-scenario business model, providing full coverage of delivery scenarios for all types of products and services. The Company's extensive service coverage, ranging from mature scenarios such as food delivery to growth scenarios such as local retail, local e-commerce and local services, has enabled it to respond to the evolving customer needs resulting from the development and upgrade of the local consumer market. For more details, please visit company's website: https://ir.sf-cityrush.com/en/investor-relations/.
(1) External revenue is total operating revenue less revenue from connected transactions with
(2) Ranking is based on independent third-party order volume in
(3) "non-food delivery scenarios" refers to local consumption scenarios that are unrelated to food delivery scenarios, mainly comprising local retail, local e-commerce and local services.
(4) "lower-tier cities" refers to cities, counties and towns that are in the third tier or below.
(5) "Credit Customers" refers to certain existing customers who have entered into Master Service Agreements with
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