TigerResearch/tigerbot-earning-plugin huggingface dataset:
As of December 31, 2022, the accumulated Raised Funds applied for the Express Delivery Equipment Automation Upgrade Project, the Construction Project of Hubei Ezhou Civil Airport Transit center, the Construction Project of Digital-intelligent Supply Chain System Solution, the Land Transport Capacity Improvement Project, the Aviation Materials Purchasing and Maintenance Project and used as Replenishment of Liquidity were 6,042.579 million, RMB2,117.475 million, RMB2,743.209 million, RMB1,728.335 million, RMB1,475.335 million and RMB3,000 million.
(2) Investment commitment in respect of proceeds
Project investment commitment and allocation of surplus proceeds|| Whether project has been (or partially) altered| Total committed investment based on net proceeds| Total investment after alteration(1)| Investment in the current year| Accumulative investment at the end of the period(2)| Investment progress at the end of the period(%) (3)=(2)/(1)| Date of asset ready for intended use| Benefits achieved in the current year| Whether expected benefits have been achieved| Whether feasibility of project has changed significantly
 Project investment commitment1. Express Delivery Equipment Automation Upgrade Project|| No|6,000,000|6,000,000|2,341,815|6,042,579|100.71%|2023/12/31| Note 2| N/A| No
2. Center Construction Project of Hubei Ezhou Civil Airport Transit center|| No|4,000,000|4,000,000|1,173,011|2,117,475|52.94%|2023/12/31| Note 3| N/A| No
3. Construction Project of Digital-intelligent Supply Chain System Solution|| No|3,000,000|3,000,000|1,607,589|2,743,209|91.44%|2023/12/31| Note 4| N/A| No
4. Land Transport Capacity Improvement Project|| No|2,000,000|2,000,000|621,176|1,728,335|86.42%|2023/12/31| Note 5| N/A| No
5. Aviation Materials Purchasing and Maintenance Project|| No|1,907,320|1,907,320|564,429|1,475,335|77.35%|2023/12/31| Note 6| N/A| No
6. Replenishment of Liquidity|| No|3,000,000|3,000,000|–|3,000,000|100.00%| N/A| Note 7| N/A| No
Subtotal of project investment commitments||–|19,907,320|19,907,320|6,308,020|17,106,933|–|–|–|–|–
 Investment of surplus proceeds||||||||||| Not applicable
 Total||–|19,907,320|19,907,320|6,308,020|17,106,933|–|–|–|–|–
 Description of the failure to achieve the planned progress, and the expected return and the reasons by|| The above projects in which the Company promises to invest are aimed at improving the service capacity and operational efficiency of the overall logistics network, therefore it is not possible to directly quantify the benefits achieved by individual projects. See Note 2 to Note 7.|||||||||
project (including the reasons for choosing “N/A”|in||||||||||
case of “achieving the expected benefit or not”).|||||||||||
 Significant changes in the feasibility of projects||||||||||| Not applicable
Amount, usage and use progress of surplus proceeds||||||||||| Not applicable
 Change in implementation location of investment projects funded by proceeds||||||||||| Not applicable
 Adjustment to implementation method of investment projects funded by proceeds||||||||||| Not applicable
 Upfront investment and replacement of investment projects funded by proceeds|| After consideration and approval at the 19th meeting of the 5th Board of Directors and the 17th meeting of the 5th Supervisory Committee convened by the Company on October 28, 2021, and with the explicit consent from the sponsors, independent directors and the Supervisory Committee, the Company replaced with the proceeds the self-raised funds of an aggregated amount of RMB6,338,458,000 which was invested in advance for the Express Delivery Equipment Automation Upgrade Project, the Construction Project of Hubei Ezhou Civil Airport Transit center, the Construction Project of Digital-intelligent Supply Chain System Solution, the Land Transport Capacity Improvement Project, and the Aviation Materials Purchasing and Maintenance Project. For details, please refer to the announcement dated October 29, 2021(announcement|||||||||
Project investment commitment and allocation of surplus proceeds| Whether project has been (or partially) altered| Total committed investment based on net proceeds| Total investment after alteration(1)| Investment in the current year| Accumulative investment at the end of the period(2)| Investment progress at the end of the period(%) (3)=(2)/(1)| Date of asset ready for intended use| Benefits achieved in the current year| Whether expected benefits have been achieved| Whether feasibility of project has changed significantly
 Supplementing working capital temporarily with idle proceeds|||||||||| Not applicable
 Balances of the proceeds during the project implementation and the reasons|||||||||| Not applicable
 Usage and allocation of the unused proceeds| The unused proceeds of the Company will be utilized for the Express Delivery Equipment Automation Upgrade Project, the Construction Project of Hubei Ezhou Civil Airport Transit center, the Construction Project of Digital-intelligent Supply Chain System Solution, the Land Transport Capacity Improvement Project, and the Aviation Materials Purchasing and Maintenance Project under the investment commitment, which are all deposited in the special account opened by the Company in the regulatory bank for the proceeds. Besides, in order to improve the return of funds, the Company utilized part of the unused proceeds to purchase certain wealth management products with secured principal and fixed income according to the Resolution on the Use of Part Idle Proceeds for Cash Management as considered and approved by the Company at the19th meeting of the 5th Board of Directors and the 17th meeting of the 5th Supervisory Committee on October 28, 2021. As of December 31, 2022, the unused proceeds of the Company were RMB2,842.966 million, together with the accumulated bank interest and wealth management income of RMB195.491 million, totaling RMB3,038.457 million. The Company has deposited the temporarily unutilized proceeds of RMB2,330 million by way of structured deposits and the remaining RMB708.457 million was deposited as demand deposits with neither mortgage or pledge over the certificate of deposits nor subject to limited ownership or right of use.|||||||||
 Defects and other problems in utilization and disclosure of the proceeds|||||||||| Not applicable
No.: 2021-118) disclosed by the Company on Cninfo (www.cninfo.com.cn).
Note 1:  “Accumulative proceeds invested”includes accumulative proceeds invested and upfront investment replace dafter the reception of proceeds of
RMB6,338,458,000.
Note 2:  The project aims to improve the Company’s transhipment operation capacity and efficiency, raise the storage service capacity and quality, enhance the
stability of the transhipment network and storage service network, and optimize customer experience and satisfaction, so as to further reinforce the Company’s core competitiveness. The benefits achieved are not directly quantifiable.
Note 3:  The project aims to improve the Company’s transhipment capacity and operation efficiency, reduce overall operating costs, and improve the flexibility and
stability of the core transhipment network to lay the foundation for the Company’s long-term business expansion. The benefits achieved are not directly quantifiable.
Note 4:  The project aims to enrich the Company’s digital-intelligent supply chain system solutions for different industries, effectively improve the Company’s one-
stop supply chain service ability, enhance customer engagement, and help the Company become a technology-driven comprehensive supply chain solution provider. The benefits achieved are not directly quantifiable.
Note 5:  The project aims to improve the Company’s main and branch line transportation capacity and the efficiency of the “last kilometer”network service,
enhance the security of the transportation network, and strengthen the Company’s core competitiveness in express and logistics services. The benefits achieved are not directly quantifiable.
Note 6:  This project aims to guarantee the transport safety and operation efficiency of the Company’s fleet and enhance the stability and security of the air
transport network, in a bid to reinforce the Company’s core competitiveness in comprehensive logistics services. The benefits achieved are not directly quantifiable.
Note 7:  This project aims to enhance the Company’s financial strength and meet the working capital requirement after gradual expansion of market share and
operation scale, which is conducive to improving the anti-risk ability of the listed company and serving the development of the Company’s main business and the realization of long-term strategy. The benefits achieved are not directly quantifiable.
(3) Statement of Changes in Projects Funded by Proceeds
In the Reporting Period, there were no changes in the projects funded by proceeds.
X. Sale of Significant Assets and Equity
1. Sale of significant assets
2. Sale of significant equity
XI. Analysis of Major Holding and Participating Companies
Major subsidiaries and equity participation companies that affect the Company’s net profit by more than 10%
Company Name| Company Type| Primary Business| Registered Capital| Total Assets| Net Assets| Operating Income| Operating Profit| Net Profit
 Shenzhen S.F. Taisen Holding(Group) Co., Ltd.| Subsidiary| Investments in industrial businesses, investment consulting and other information consulting, supply chain management, asset management, capital management, investment management, etc.|2,020,000|66,877,990|42,029,579|5,276,799|2,413,967|2,347,317
 S.F. Express Co., Ltd.| Subsidiary| International freight forwarding, domestic and international express services, etc.|150,000|21,935,804|4,856,917|17,076,189|2,264,984|2,163,507
(1) Description of Major Holding and Participating Companies
The net profit realized by Shenzhen S.F. Taisen Holding (Group) Co., Ltd. and S.F. Express Co., Ltd. for the year was mainly the investment income generated from the dividend distribution of the holding subsidiaries and the profit generated from the Company’s primary business.
(2) Acquisition and Disposal of Subsidiaries During the Reporting Period
For details, please refer to Note 5 to the Chapter 10 Financial Statements.
XII. Structured Entities Controlled by the Company
XIII. Prospects of the Company
1. Industry development trend
Challenges and opportunities exist in 2023. On the one hand, the external environment is complex and volatile, bringing variables to the development of the industry; and on the other hand, socio-economic activities will resume to be active, and the growth rate of the industry is expected to recover in 2023 under the national macro policy of stimulating domestic consumption and promoting economic development.
I) The international environment is complex and changing, and China’s economy is moving steadily forward. As the world enters the VUCA era, global economic growth is still not expected to be optimistic under multiple shocks such as geopolitical conflicts, supply chain challenges, and inflationary pressures. According to forecast of the World Bank and other authoritative institutions, the global GDP growth rate in 2023 will be 1.9%, which is 1 percentage point lower compared to2022. The development of major global economies has entered a recessionary phase, which has also adversely affected China’s economy. China has proposed a strategy to expand domestic demand in order to cope with external risks and strengthen its own development momentum. China’s economy will be stable in 2023, and the IMF has adjusted China’s growth rate to 5.2%, expecting Ch ina to become the “b iggest driver”of g lobal economic growth in 2023.
II) Domestic economic recovery will drive the industry back to good growth, but overseas markets face downward pressure. The recovery of domestic consumption will drive the development of the domestic express delivery and logistics industry. According to the State Post Bureau, the business revenue of express delivery is expected to reach RMB1.13 trillion in 2023, an increase of around 7% year-on-year. However, the international logistics market is facing downward pressure in the short term, and the sluggish of overseas consumer demand is causing a negative impact on China’s export trade, not to mention the end of boom in cross-border e-commerce compared to previous years. Along with the downturn in consumer demand and the recovery of the supply side of freight, international air and sea freight prices have declined significantly since the second half of 2022, falling back to a relatively lower level in the last three years from a historically high range, which will affect the revenue and profit levels of the international freight industry.
III) Express delivery enterprises continue to seek new growth in “go to the countryside, go to factories, and go global”. 1“Entry into the countryside”: In 2022, 95% of China’s administrative villages will be covered by express services, the coverage rate of rural e-commerce and express logistics in administrative villages will reach 90%, and the online retail sales of agricultural products will increase by 9.2%. In 2023, the shortcomings of rural logistics infrastructure for collection and delivery will be further complemented, and the potential of markets in lower-tier areas will be further unlocked. 2“Entry into factories”: With the ecological evolution of new type e-commerce, trends such as consumer centricity, integration of online and offline channels have brought changes in the channels of the manufacturing industry; the express delivery industry, by virtue of efficient response, nationwide coverage from single points, and cost-effective services, connects factories with consumers to shorten the supply chain and enhance the circulation efficiency. 3“Going global”: With China’s economic
structural adjustment and industrial upgrade, it is an unavoidable trend that the competitiveness of Chinese brands in the global market will gradually improve, paving the way for the Chinese express logistics enterprises to enter the global market; China is actively advancing the development of international logistics network infrastructure and building an independent controllable international supply chain to enhance its global competitiveness, while logistics companies step up overseas operations to gain access to new growth markets.
IV) Modernization and upgrading of the logistics industry to support national development strategies. The 14th Five-Year Plan for the Development of Modern Logistics aims to build a modern logistics system, and expects a basically established modern logistics system that matches supply and demand, connects domestic and oversea markets and with safe, efficient, smart and green features by 2025, so as to provide strong support for building a modern industrial system, forming a strong domestic market and promoting a high level of openness to the outside world. Under the guidance of the national strategy, the head logistics enterprises will enter a stage of high-quality development. The level of infrastructure, industry standards and technological innovation will be significantly improved. At the same time, logistics enterprises are required to continuously improve their innovation capabilities, network coverage and resource layout, while promoting the deep collaboration of the industry chain and supply chain. Supply chains are undergoing digital transformation and upgrading at an accelerating pace, seeking to create smart supply chains through 5G, big data, artificial intelligence, AIoT, sensing and other technologies, shorten the supply cycle, improve supply chain efficiency, use data to give feedback to entities, promote the upgrading of the industry industrial chain. In this process, head logistics enterprises will fully benefit from technological upgrade, resource layout, and product innovation to form a brand new competitive advantage.
V) Market participants have reached a consensus on green, environmentally friendly and sustainable development. The State Post Bureau has made it clear that in 2023, it will continue to carry out green packaging governance: issuing implementation op in ions on the green and low-carbon transformation and development of the industry; further promoting the governance of plastic pollution and excessive packaging in the industry and implementing the “9218”project for green development. In particular, it endeavors to make sure 90% of the e-commerce express sh ipments are not packaged tw ice, and to further promote the governance of excessive packaging and plastic pollution through use of recyclable express packaging for 1 billion parcels of shipments, and recycling and reuse of 800 million corrugated boxes of good quality. It continued to promote new energy and clean energy vehicles; promoted the green development of the industry by increasing publicity efforts, making it a broad social consensus, and gathering the strength of the whole society. At the industry regulatory level, all efforts will be made to promote green and low-carbon development, propel express delivery enterprises to implement the requirements for energy saving and emission reduction, strengthen energy-saving and emission reduction control, and improve the system to secure ecology safety of the industry. Many leading express delivery enterprises have also successively set carbon emission targets; assisting carbon peaking and carbon neutrality, increasing green investment, and promoting green and sustainable development will become a long-term mission.
SF strategic objectives
Our Strategic Objectives for 2025
Our Healthy Operation
How will SF be perceived by the society in 2025
A pacesetter that continuously creates outstanding social value
SF commits to serving corporate clients, and builds a completely new global smart supply chain system;
SF remains highly committed to green environmental protection, becomes a pacesetter for carbon neutrality and a service provider that contributes to sustainable development of the global economy;
SF contributes to the social well-being. With its network reaching every community, every village, every family, and every person, SF helps realizing common prosperity and serving the society.
How will SF be perceived by clients in 2025 The preferred partner for all clients
SF provides convenient, reliable and user-friendly express delivery services to clients worldwide;
It constructs an open-structured digital supply chain ecosystem and collaborates with clients for business model innovation to achieve win-win outcomes.
What SF envisions itself to be in 2025
The leader of the global smart supply chain
SF will have fully completed digital transformation, with the well-established core competencies of “decision-making supported by data”, “business driven by data”, and“clients empowered by data”, and created a digital organizational system characterized by “small front office, large medium office, flat-structured, and self-driven”;
It will integrate high-quality resources and accelerate the development of global businesses, achieve a more balanced business mix in domestic and overseas markets, accomplish a complete establishment of global smart supply chain system;
SF will ensure its business scale and company value to ranked 1st in Asia and top 3 in global through sustainable healthy operation.
How will SF be perceived by its employees in 2025
A career platform where outstanding talents around the world can pursue excellence, realize their dreams and feel a sense of pride
SF adheres to the “team”culture of equality, mutual respect, collaboration, win-win, innovation, and inclusiveness, encouraging employees to grow through “competition” and explore their full potential;
An impartial and transparent appraisal system to encourage the creation of value and the pursuit of excellence;
The Company provides outstanding talents worldwide with development opportunities, through competitive remuneration and training systems, allowing them to realize their career dreams.
Healthy Growth
Global Layout
Healthy Input/ Output Ratio
Healthy Profit and Cash Flows
2. SF strategic direction
In the future, SF will focus on the three major channels of“network standard products, digital industry supply chain services and global end-to-end supply chain services”. Firstly, the “network standard product”focus on cost reduction and operational efficiency, exploring new markets and securing compet it ive  barr iers .  At  the  same  t ime ,  through  d ig i ta l transformation and global resources layout, we will cultivate“digital industry supply chain services”+ “global end-to-end supply chain services”to build the Company’s second growth curve in the future. Lastly, we will focus on core resources and lay out hub resources such as Ezhou hub to form a resource foundation and moat for the long-term development of the Company.
I) Laying out new demands in the courier market, tapping into new markets and reinforcing the competitive moat. With the recovery and activation of socio-economic activities, the courier industry is expected to resume rapid development. However, the industry’s original scale effect development model is weakening. The original expansion –price reduction –gaining volume –cost reduction has contributed to the uniformity and homogenization of the industry’s services and products. With the scale effect and marginal pulling effect of expansion gradually becoming weaker, the overall profitability of the market is being compressed in stages, in this process, cultivating new products and new business growth points will become the key to future industry competition. The Company will deepen the2B standardized scenario and form a synergy with 2C standard services.
II) Build a digital supply chain service ecosystem and cooperate with customer in transformation and follow industrial transformation. Efforts will be made to utilize the strong control of our own logistics network to continuously implement comprehensive digital transformation of full-link end-to-end business scenarios including collection, transportation, distribution, and delivery, and build the core competencies of“data supporting decision-making”, “data driving business”, and“data empowering clients”; maintain the leading edge in logistics science and technology, and constantly improve our logistics efficiency and intelligence level. Further, we will penetrate into the end-to-end links throughout clients’supply chains, thoroughly integrate the Company with clients’value chain, improve client experience, continuously translate the best practices of digital ecological technological application into product output, embrace digitalization to empower the industry supply chain, and improve logistics modernization to become the leader of the smart supply chain.
III) Accelerate the pace of international development and build an efficient and reliable international supply chain.