Under Continuous Business Growth SF Intra-city Expected a Profit Turnaround for 1H 2023

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Jul 10, 2023, 06:00 ET

HONG KONG, July 10, 2023 /PRNewswire/ -- Hangzhou SF Intra-city Industrial Co., Ltd. (Stock Code: 9699.HK), the largest third-party on-demand delivery service provider in China, announces that the Group is expected to record a profit for the six months ended 30 June 2023 as compared to the consolidated net loss attributable to owners of the Company of approximately 144 million for the six months ended 30 June 2022, thereby achieving a turnaround from loss to profit.

The profit turnaround achieved by SF Intra-city was mainly attributable to sound growth in the Group's revenue, increased order volume and improved business structure. These factors further enhanced economies of scale of its networks during the Period. Furthermore, the operational foundation of the Group has become more efficient due to technological advancements, which enhanced operational quality and resource efficiency, continuously improving the gross margin and expense ratios.

Since its listing, the Group has been striving to develop various key businesses. The healthy growth of the Group's revenue recorded in 2022 from the intra-city delivery services to merchants, the intra-city delivery services to consumers, and the last-mile delivery service are clear examples. These businesses continued to demonstrate robust resilience in the first half of 2023. Meanwhile, the Company is committed to optimizing the network system, realizing efficient real-time order scheduling and logistics systems, and developing intelligent distribution networks to proactively cooperate with digital transformation and adopt new technologies such as artificial intelligence.

SF Intra-city said the Group has been committed to improving its business structure and profitability and has achieved excellent results. With the tireless efforts of the Group and all staff members, the Group will be achieving profit. SF Intra-city will continue to improve its delivery capability, deploy its smart delivery network, and seize the opportunities from multi-channel traffic, local retail development and third-party on-demand delivery service. SF Intra-city will continue to steadily create greater value for the shareholders through its effort to achieve the "bring enjoyable lifestyle to your fingertips" mission and fully leverage its advantages.

SOURCE SF Intra-city