TigerResearch/tigerbot-earning-plugin huggingface dataset:
(RMB’000)| Net profit|2022| Net profit margin| Net profit|2021| Net profit margin| Amount of change over the previous year
 Express segment|5,459,146||3.52%|3,832,187||2.65%|42.46%
 Freight segment|27,677||0.08%|-582,308||-1.87%|104.75%
 Intra-city segment|-286,903||-2.79%|-898,851||-11.00%|68.08%
 Supply chain and international segment|1,945,862||2.15%|615,252||1.52%|216.27%
 Undistributed units|-122,737||-0.92%|965,462||8.87%|-112.71%
(1)Express segment: In 2022, net profits from the express segment amounted to RMB5.459 billion, representing an increase of 42.46% as compared with the same period of last year, mainly due to 1the significant improvement in profitability of economic express products as a result of the optimization of product structure, which reduced the number of low-margin products; and 2lean resource planning and cost control, with a focus on improving the efficiency of resource deployment, and continuing to expand the efficiency of resource sharing through multi-network integration.
(2)Freight segment: In 2022, net profits from the freight segment amounted to RMB28 million, representing an increase of 104.75% as compared to the corresponding period of the last year, and achieved a turnaround from loss to profit, mainly due to the fact that 1the product structure was optimized to upgrade and launch large aircraft and SF Ground Freight Express, increasing the revenue per kilogram; 2the transshipment, trunk line and terminal integration were improved for large pieces and small pieces, direct sales network and franchise network to achieve cost reduction and efficiency enhancement.
(3)Intra-city segment: In 2022, net losses from the intra-city segment amounted to RMB287 million, representing an increase of 68.08% as compared with the same period of last year, and net profit margin continued to rebound, which is mainly attributable to the fact that 1more diversified business model and revenue structure and the professional and differentiated services drive the growth of high-value orders, with the personal services, non-meal scenarios and focus on lower-tier cities and counties becoming new driving forces; and 2better capacity efficiency as achieved through overall planning and scheduling driven by technology, management was kept refining to improve operational quality and increase the proportion of deployed resources, thus further releasing economies of scale.
(4)Supply chain and international segment: In 2022, net profits from the segment amounted to RMB1.946 billion, representing an increase of 216.27% as compared with the same period of last year, which is mainly attributable to the fact that 1the results of Kerry Logistics were consolidated from the fourth quarter of 2021 as compared with the same period of last year, and the 2022 annual results of Kerry Logistics were consolidated during the Reporting Period, leading to the increase in profit of supply chain and international business; and 2the end-to-end mode of international express delivery and refined cost control were optimized, and the integration with Kerry Logistics was improved in international air freight routes, enhancing resource utilization and improving the profit of international express products.
(5)Undistributed units: In 2022, net losses from undistributed units amounted to RMB123 million, mainly including non-logistics and freight forwarding businesses such as investment, industrial parks and other headquarters functions. Net profits from the units decreased as compared with the corresponding period of the last year, mainly due to the increase in investment income from the transfer of equity interests in the corresponding period of the last year and the decrease in relevant transfers during the Reporting Period.
(RMB’000)|2022|2021| Change over the previous year
 Sub-total of operating cash inflows|369,188,490|303,261,404|21.74%
 Sub-total of operating cash outflows|336,485,543|287,903,799|16.87%
 Net cash flows from operating activities|32,702,947|15,357,605|112.94%
 Sub-total of investing cash inflows|157,801,875|129,699,181|21.67%
 Sub-total of investing cash outflows|169,893,333|146,830,408|15.71%
 Net cash flows from investing activities|-12,091,458|-17,131,227|29.42%
Sub-total of financing cash inflows|39,735,949|68,270,517|-41.80%
 Sub-total of financing cash outflows|55,752,899|47,050,591|18.50%
 Net cash flows from financing activities|-16,016,950|21,219,926|-175.48%
 Effect of exchange rate changes on cash and cash equivalents|871,640|-99,020|980.27%
 Net increase in cash and cash equivalents|5,466,179|19,347,284|-71.75%
Note: There was no major difference between the net cash flows from operating activities during the Reporting Period and the net profit of the year. Explanation:
(1)  Net cash flows from operating activities: The year-on-year increase was mainly attributable to the combined effect of business expansion, the optimized management of operating cash flow and profit growth and the acquisition of Kerry Logistics.
(2)  Net cash flows used in investing activities: The year-on-year decrease was mainly attributable to the combined effect of the decrease in net outflow on acquisition of a subsidiary and on purchase and construction of long-term assets, and the decrease in net inflow on disposal of a subsidiary and on structured deposits.
(3)  Net cash flows from financing activities: The year-on-year decrease was mainly attributable to the combined effect of the decrease in investment acquired and the increase in debt repayment.
VIII. Analysis of Assets and Liabilities
| As at the end of 2022|| As at the beginning of 2022|| Increase/ Decrease in Proportion|||||||
(RMB’000)| Amount| Proportion of Total Assets| Amount| Proportion of Total Assets||||| Major Changes|||
 Cash at bank and on hand|41,062,750|18.94%|35,315,051|16.82%|2.12%| For details, please refer to “VII. Cash Flows” under “Chapter 3 Management Discussion and Analysis”.||||||
|||||| Mainly|due|to|the|acceleration|of|accounts
 Accounts receivables|25,560,433|11.79%|30,441,758|14.50%|-2.71%|||||||
||||||receivable collection.||||||
 Contract assets|1,522,996|0.70%|1,038,247|0.49%|0.21%| No major changes.||||||
 Inventories|1,948,354|0.90%|1,546,821|0.74%|0.16%| No major changes.||||||
 Other current assets|5,612,928|2.59%|7,539,613|3.59%|-1.00%| Mainly due to the decrease of the input VAT to be offset.||||||
Details of the Assets| Formed Reason| Assets Scale(RMB’000)| Location| Operating Model| Control Measures for Ensuring Asset Security| Profiting Status(RMB’000)| Assets Overseas/Net Assets of the Company| Whether there is significant Impairment Risk
51.5% equity of Kerry Logistics| Equity acquisition|22,999,199| Hong Kong(China)| Integrated logistics, international freight forwarding and supply chain solutions| Please refer to XIII. The Company’s Management and Control over Its Subsidiaries during the Reporting Period in Section IV.|2,838,971|23.40%| No
|“Asset scale”|refers to net assets of Kerry Logistics;||||||
|“Profiting status”|refers to net profit contributed by Kerry Logistics in 2022, which is the net profit of Kerry Logistics after the acquisition date,||||||
 Other information|taking into account the fair value of identifiable assets and liabilities at the time of the acquisition of the equity of Kerry Logistics and the impact of adjustments arising from adopting the same accounting policy. The net profit attributable to shareholders of the parent company was RMB1,362.735 million; profit or loss attributable to minority shareholders amounted to RMB1,476.236 million and net profit attributable to shareholders of the parent company after deducting non-recurring profit or loss as contributed by Kerry Logistics amounted to RMB 1,172.615 million.|||||||
|“Assets overseas/net assets of the Company”|||refers to net assets of Kerry Logistics/net assets of the Company.||||
| As at the end of 2022|| As at the beginning of 2022|| Increase/ Decrease in Proportion|||||||||||
(RMB’000)| Amount| Proportion of Total Assets| Amount| Proportion of Total Assets||||| Major Changes|||||||
 Investment properties|4,875,366|2.25%|4,850,233|2.31%|-0.06%| No major changes.||||||||||
 Long-term equity investments|7,858,000|3.62%|7,260,087|3.46%|0.16%| No major changes.||||||||||
 Fixed assets|43,657,404|20.13%|36,925,990|17.59%|2.54%| Mainly due to the increase in buildings.||||||||||
|||||| Mainly|due|to|increased||investment||||in|the
 Construction in progress|11,149,860|5.14%|8,571,203|4.08%|1.06%|industrial|park||project|and|the||relocation|||of
||||||the transit depot renovation project.||||||||||
 Right-of-use assets|15,429,775|7.12%|17,297,085|8.24%|-1.12%| Mainly due to amortization.||||||||||
 Short-term borrowings|12,837,870|5.92%|18,397,204|8.76%|-2.84%| Mainly due to repayment of borrowings.||||||||||
 Contract liabilities|1,244,418|0.57%|1,675,836|0.80%|-0.23%| No major changes.||||||||||
 Current portion of non-current liabilities|11,173,650|5.15%|8,335,803|3.97%|1.18%| Mainly|due|to|the|increase||in||the|current|
||||||portion of debentures payable.||||||||||
 Long-term borrowings|7,472,010|3.45%|3,510,829|1.67%|1.78%| Mainly due to new borrowings.||||||||||
|||||| Ma in ly|due|to|the|issuance|||of| US|do l lar|
 Debentures payable|18,927,508|8.73%|15,656,370|7.46%|1.27%|||||||||||
||||||debentures.||||||||||
 Lease liabilities|8,582,372|3.96%|10,941,938|5.21%|-1.25%| Mainly due to the rent payment.||||||||||
|||||| Mainly|due|to|the|acquis ition||||of minority||
 Capital reserve|43,996,237|20.29%|46,200,598|22.01%|-1.72%|||||||||||
||||||interests.||||||||||
|||||| Mainly|due|to|the|increase|in||differences|||in
 Other comprehensive income|4,538,027|2.09%|2,617,231|1.25%|0.84%|||||||||||
||||||translation of foreign currency statements.||||||||||
 Retained earnings|33,371,351|15.39%|28,245,764|13.46%|1.93%| Mainly due to the increase in profit.||||||||||
|||||| M a i n l y|d u e||t o t h e|i n t e g r a t e d|||||i m p a c t|
 Minority interests|12,022,308|5.54%|14,972,021|7.13%|-1.59%|of|acqu is i t ion||of|m inor ity||interests||||and
||||||distribution of dividends.||||||||||
(RMB’000)| Opening Balance| Changes in Fair Value Gains and Losses in Current Period| Accumulated Fair Value Changes Included In Equity| Provision for Impairment in Current Period| Amount of Purchase in Current Period| Amount of Sales in Current Period| Other Changes| Closing Balance
 Financial assets1. Financial assets held for trading(excluding derivative financial assets)note 1|11,262,517|-18,850|–|–|462,910|4,006,429|697,440|8,397,588
2. Investments in other equity instruments|6,810,771|–|-58,183|–|512,099|566,125|667,122|7,365,684
 Subtotal financial assets|18,073,288|-18,850|-58,183|–|975,009|4,572,554|1,364,562|15,763,272
 Others|–|–|–|–|–|–|–|–
 Total|18,073,288|-18,850|-58,183|–|975,009|4,572,554|1,364,562|15,763,272
 Financial liabilities|7,658|–|5,821|–|75,718|–|7,450|96,647
Note 1:  The item includes structured deposits that do not carry the characteristics of contract cash flow for principal and interest. The structured deposits have
short maturities and are highly liquid, and net purchases and sales for the current period are stated in the current period.
(1) Other changes:
Other changes in financial assets held for trading are mainly investment income realized by matured structured deposits, and other changes in investments in other equity instruments are mainly due to exchange differences on translation of foreign currency financial statements.
(2) None of any significant changes occur for the Company’s major asset measurement attributes during the Reporting Period.
3. Limitation of asset rights as of the end of the Reporting Period
At the end of the Reporting Period, the Company’s assets subject to limited rights are mainly statutory reserve placed at the Central Bank and the bank borrowing mortgage, details of which are as follows:
(RMB’000)| Book Value at the end of period| Reasons for limitation
 Cash at bank and on hand|874,919| Mainly represents the statutory reserve placed at the Central Bank
 Fixed assets|486,847| Bank borrowing mortgage
intangible assets|247,556| Bank borrowing mortgage
 Investment properties|104,571| Bank borrowing mortgage
 Total|1,713,893|
IX. Investments Analysis
Investment amount during the Reporting
Period (RMB’000)
Investment amount in the same period
of last year (RMB’000)
Percentage change
Breakdown items of capital expenditure during the Reporting Period are indicated in the table below:|
 Item| Investment Amount During the Reporting Period (RMB’000)
 Office and buildings|600,457
 Land|113,531
 Warehouse|1,563,813
 Sorting center|7,073,309
 Aircraft|2,288,891
Vehicle|918,617
 Information technology equipment|824,663
 Equity investments|4,291,429
 Others|1,668,826
 Total|19,343,536
2. Significant Equity Investment Obtained During the Reporting Period
3. Significant Non-Equity Investment Ongoing During the Reporting Period
4. Investments in Financial Assets
(1) Investments in Securities
Security type| Stock code| Abbreviation of security| Initial investment cost| Accounting measurement model| Book value at the beginning of the reporting period| Gains and losses from changes in fair value during the period| Accumulated fair value changes included in equity| Purchase amount during the Reporting Period| Sales amount during the Reporting Period| Gains and losses of the Reporting Period| Book value at the end of the Reporting Period
 Domestic and overseas stocks|6166| VAST|–| Fair value measurement|118,945|–|69,354|–|251,163|1,773|–
 Domestic and overseas stocks|300771| Zhilai Sci and Tech|21,377| Fair value measurement|86,491|–|2,353|–|–|1,332|88,844
 Domestic and overseas stocks| GB00BLH1QT30| Samarkand|26,407| Fair value measurement|36,500|–|-25,910|–|–|–|12,170
 Domestic and overseas stocks|00500| Frontier Services|139,980| Fair value measurement|–|–|-76,502|127,635|–|–|57,920
 Total|||187,764|–|241,936|–|-30,705|127,635|251,163|3,105|158,934
 Disclosure Date of Securities Investment Approval Board Announcement||||||||||| Not applicable
 Disclosure Date of Securities Investment Approval Shareholders Meeting Announcement (if any)||||||||||| Not applicable
Note:  The accounting items of the above domestic and foreign stocks are all “investments in other equity instruments”, and the capital source is “self-owned
funds”.
(2) Investments in Derivatives
||||||| Unit: RMB’000
 Investment type of derivatives| Initial derivatives investment amount| Changes in fair value gains and losses in current period| Accumulated fair value changes included in equity| Amount of purchase in the Reporting Period| Number of sales in the Reporting Period| Amount at the end of the Reporting Period| Proportion of investment amount at the end of the Reporting Period to net assets of the Company
 Purchase of Forward Foreign Currencies Against RMB|3,489,350|-21,569|-12,002| N/A| N/A|3,489,350|3.55%
 Total|3,489,350|-21,569|-12,002| N/A| N/A|3,489,350|3.55%
 Explanation of whether the accounting policies and accounting principles of hedging during the Reporting Period are significantly changes compared with the previous Reporting Period| No||||||
 Description of actual gains/losses during the Reporting Period| The actual gains/losses during the reporting period refers to the gain or loss arising from the change in fair value of derivative financial instruments for the period, and the actual losses for the period amounted to RMB5.821 million.||||||
2) Derivatives investments for speculative purpose during the Reporting Period
There was no derivative investment for speculation during the Reporting Period.
5. Use of Proceeds
(1) Description of overall utilization of proceeds
Investment type of derivatives  Amount of purchase in the Reporting Period| Initial derivatives investment amount||| Changes in fair value gains and losses in current period|| Accumulated fair value changes included in equity||| Number of sales in the Reporting Period|||| Amount at the end of the Reporting Period|| Proportion of investment amount at the end of the Reporting Period to net assets of the Company
 Description of hedging effects| Derivative investment business of the Company mainly consists of forward contracts purchased in 2020, with underlying assets in the form of exchange rates and currency pairs involving USD/HKD. The main elements are: purchasing forward contracts at fixed exchange rates for the Company’s USD debts, so that when the USD appreciates against the HKD and the USD debts incur exchange losses, the forward contracts will generate gains on fair value changes for the hedging purposes. The exchange rate locking function of derivative transactions effectively reduces the impact of exchange rate fluctuations on the Company’s profit.||||||||||||||
 Source of funds| Self-owned funds||||||||||||||
Risk analysis and control measures for derivatives investment during the Reporting Period (including but not limited to market risk, liquidity risk, credit risk, operational risk, legal risk, etc.)|(I) Risk analysis The foreign exchange hedging business is carried out by the Company based on the principles of lawfulness, prudence, safety and effectiveness, and not for speculative purposes. All foreign exchange hedging transactions are derived from normal cross-border business, but certain risks may exist in foreign exchange hedging transactions.1. Market risk: The foreign exchange hedging business carried out by the Company and its subsidiaries mainly involves daily cross-border intermodal transportation fees and investment and financing activities denominated in foreign currencies related to the main business. The associated market risk refers to losses which may arise from changes in price of foreign exchange hedging products due to fluctuations in market prices of underlying exchange rates and interest rates.2. Liquidity risk: Since all foreign exchange hedging business is conducted through financial institutions, we are subject to the risk of having to pay fees to banks caused by insufficient liquidity in the market.3. Non-performance risk: The Company and its subsidiaries conduct foreign exchange hedging business mainly based on cash flow rolling forecasts for risk management. We are subject to the risk that the actual cash flow deviates from forecast, resulting in failure to fulfill obligations under relevant hedging contracts when due.4. Other risks: In the course of business, if the person concerned fails to report and seek approval in accordance with the prescribed procedures, or fails to make records on foreign exchange hedging business accurately, timely and completely, losses may be incurred or trading opportunities may be lost. At the same time, if the person concerned fails to fully understand the terms of the transaction contract and product information, we are exposed to related legal risks and transaction losses as a result.(II) Risk control measures1. Clarify the criteria of initiating transaction of foreign exchange hedging product: All foreign exchange hedging businesses are derived from normal cross-border business for the purpose of averting and preventing exchange rate and interest rate risk. No foreign exchange derivatives trading shall be carried out for speculative purposes.2. Selection of products: Hedging products with simple structure, strong liquidity and controllable risk are selected to carry out foreign exchange hedging business.||||||||||||||
selection:  Company’s foreign exchange commercial banks|3.| Counterparty|| The|counterparties||of|the|hedging|business||are|large|state-owned|and
|international banks with sound operation, good credit, long history of cooperation with the Company and good credit standing.4. Determination of fair value of foreign exchange hedging products: The foreign exchange hedging products operated by the Company are mainly for the management of foreign exchange transactions in the predictable future period, with high market transparency and active trading; the transaction price and settlement unit price of which can fully reflect their fair value. The Company determines the fair value of the hedging products in accordance with the transaction data provided by or obtained from the public domain including banks and Reuters.5. Equipped with professional staff: The Company has maintained a team of professionals with expertise in financial derivatives, responsible for the Company’s exchange rate risk management, market analysis, product research and the Company’s overall management policy recommendations, etc.||||||||||||||
mechanism:  The  Company hedging business|6.| Establishing|a|comprehensive|risk|alarm|and|reporting|sets|risk|limits|for|foreign|exchange|where
|transactions have been made, timely evaluates changes in risk exposure and derived gains and losses, and provides regular risk analysis report to the management and the Board of Directors. Appropriate risk assessment models or monitoring systems are used to continuously monitor and report various risks. More frequent reports are made when the market fluctuates drastically or when risks are higher. A response plan will be made promptly.7. Separation of duties and personnel between the front end and back end is strictly implemented. Dealers cannot concurrently hold the position as accounting personnel and vice versa.||||||||||||||
Investment type of derivatives| Initial derivatives investment amount|| Changes in fair value gains and losses in current period|| Accumulated fair value changes included in equity||| Amount of purchase in the Reporting Period||| Number of sales in the Reporting Period||| Amount at the end of the Reporting Period|| Proportion of investment amount at the end of the Reporting Period to net assets of the Company||
 Changes in market price or fair value of invested derivatives during the Reporting Period (the specific methods, relevant assumptions and parameters used in the analysis of the fair value should be disclosed)| The Company’s analysis of the fair value of derivatives is based on the financial market fair value valuation report provided by the bank at month end.|||||||||||||||||
 Lawsuit (if applicable)| N/A|||||||||||||||||
 Disclosure date of derivatives investment approval board announcement (if any)| March 24, 2020 and March 31, 2022|||||||||||||||||
 Disclosure date of derivatives investment approval shareholders meeting announcement (if any)| N/A|||||||||||||||||
directors hedging| The|independent|believed|that|the| Company|had|established|an|internal|control|system|for|foreign|exchange|and|effective|risk
 Opinions of independent directors on the Company’s derivatives investment and risk control|control measures in accordance with the requirements stipulated by relevant laws. Under the premise of complying with national laws and regulations and ensuring that the Company’s daily operation were not affected, the Company used its own funds to carry out foreign exchange hedging when appropriate, which was conducive to preventing interest rate and exchange rate risks, reducing the impact of interest rate fluctuations on the Company, in line with the interests of the Company and all shareholders and was no harm to the Company and all shareholders, especially the interests of minority shareholders.|||||||||||||||||
Year| Method of fundraising| Total of proceeds| Total proceeds invested in the current year| Accumulative proceeds invested (Note 1)| Total proceeds with usage altered in the Reporting Period| Accumulative proceeds with usage altered|| Proportion of accumulative total proceeds with usage altered|| Total unused proceeds| Use and allocation of unused proceeds| Proceeds idle for over two years
2021| Non-public offering of shares|19,907,320|6,308,020|17,106,933|–||–||–|2,842,966| The balance of structured deposit purchased as cash management of unused proceeds was RMB2.33 billion, with the remaining unused proceeds held in a special account|
 Total|–|19,907,320|6,308,020|17,106,933|–||–||–|2,842,966|–|
Description or of overall utilization of proceeds