BRIEF: SF Intra-city’s profit doubles in 2024

Intra-city delivery company Hangzhou SF Intra-city Industrial Co. Ltd. (9699.HK) on Tuesday said it expects to report its profit for all 2024 more than doubled year-on-year, as its revenue rose by 25% or more.

The company said growing demand from the catering and retail industries, and for on-demand delivery services, contributed to the rapid growth in its order volume. At the same time, it used its growing digital intelligence capabilities to boost its market share and penetration rates. It said it will work further to improve its economies of scale, and enhance its efficiency, aiming to improve its gross profit margin.

Shares of SF Intra-city opened up 0.2% at HK$9.39 on Tuesday and were up nearly 1% late in the morning session. The company’s shares are down more than 25% over the past year.

By Lau Chi Hang

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