SF Holding (06936) released its FY2025 annual report. Revenue rose 8.4% year-on-year to CNY 308.23 billion, while net profit attributable to shareholders increased 9.3% to CNY 11.12 billion. Gross profit advanced 3.6% to CNY 41.05 billion and basic EPS reached CNY 2.23. Return on equity improved to 11.51%.

The board proposes a final cash dividend of CNY 0.43 per share (CNY 4.3 per 10 shares), subject to shareholder approval. Together with the mid-term dividend of CNY 0.46 per share distributed earlier, the total cash payout for FY2025 is expected to be about CNY 4.46 billion, equating to roughly 40% of annual attributable profit.

By segment, the core Express & Freight unit generated CNY 217.55 billion in external revenue, up 8.7%. Supply Chain & International revenue grew 3.2% to CNY 76.35 billion, while Same-City Express jumped 42.8% to CNY 12.87 billion. Overall business volume reached 16.72 billion parcels, an annual increase of 25.4%.

Operating cash flow was CNY 27.56 billion; free cash flow stood at CNY 17.93 billion. Year-end cash and cash equivalents totaled CNY 19.96 billion. Total assets were CNY 308.20 billion with an asset-liability ratio of 49.03%.

The company maintained its AA MSCI ESG rating and reported capital expenditure (excluding equity investments) of CNY 9.62 billion for the year. No material changes in accounting policies or major contingent liabilities were disclosed.