Hangzhou SF Intra-city Industrial Full Year 2023 Earnings: Misses Expectations

Hangzhou SF Intra-city Industrial (HKG:9699) Full Year 2023 Results

Key Financial Results

• Revenue: CN¥12.4b (up 21% from FY 2022).
• Net income: CN¥64.9m (up from CN¥237.6m loss in FY 2022).
• Profit margin: 0.5% (up from net loss in FY 2022).
• EPS: CN¥0.07 (up from CN¥0.26 loss in FY 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Hangzhou SF Intra-city Industrial Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 3.8%. Earnings per share (EPS) also missed analyst estimates by 14%.

In the last 12 months, the only revenue segment was Intra-City On-Demand Delivery Service Business contributing CN¥12.4b. Notably, cost of sales worth CN¥11.6b amounted to 94% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to CN¥520.9m (66% of total expenses). Over the last 12 months, the company's earnings were enhanced by non-operating gains of CN¥61.4m. Explore how 9699's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 9.6% growth forecast for the Logistics industry in Hong Kong.

Performance of the Hong Kong Logistics industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

We should say that we've discovered 1 warning sign for Hangzhou SF Intra-city Industrial that you should be aware of before investing here.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.