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S.F. Holding Co., Ltd. 2018 Semi-Annual Report

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S.F. Holding Co., Ltd. 2018 Semi-Annual Report S.F. Holding Co., Ltd. 2018 Semi-Annual Report S.F. Holding Co., Ltd. 2018 Semi-Annual Report S.F. Holding Co., Ltd. 2018 Semi-Annual Report August 2018 S.F. Holding Co., Ltd. 2018 Semi-Annual Report Notice The Company prepared its 2018 Semi-Annual Report in accordance with relevant regulations and guidelines set forth by the China Securities Regulatory Commission and the Shenzhen Stock Exchange, including the “Publicly Listed Company Information Disclosure Content and Format Guideline No. 3 –Semi- Annual Report Content and Format,” the “Shenzhen Stock Exchange Listing Rules,” the “Shenzhen Stock Exchange Standard Operating Guidelines for Small and Medium Enterprises,” and the “Small and Medium Enterprise Information Disclosure Memorandum No. 2 – Matters Related to Periodic Disclosures.” The Company’s 2018 Semi-Annual Report was prepared and published in Chinese and the below English version is for reference only. Should there be inconsistency between the Chinese version and the English version, the Chinese version shall prevail. Investors can access the Company’s 2018 Semi- Annual Report on Cninfo (www.cninfo.com.cn), which is designated by the China Securities Regulatory Commission for Publishing the Semi-Annual Report. 1 S.F. Holding Co., Ltd. 2018 Semi-Annual Report Chapter 1 Important Information, Table of Contents, and Definitions The company's Board of Directors, Board of Supervisors, directors, supervisors, and senior management hereby guarantee that the contents of the Semi-Annual Report are true, accurate, and complete, and that there are no misrepresentations, misleading statements, or material omissions, and shall assume individual and joint legal liabilities. Wang Wei, the Company's responsible person, NG Wai Ting, the person in charge of accounting work, and Wang Lixiu, the person in charge of the accounting department (accounting officer), hereby declare and warrant that the financial report within the Semi-Annual Report is true, accurate, and complete. All directors have attended the the Board meeting approving the Semi-Annual Report. Forward-looking statements such as future development plans in this report do not constitute the company's promise to investors. Investors are advised to invest rationally and to take into account possible investment risks. The company is required to comply with the disclosure requirements presented in the Shenzhen Stock Exchange for Industrial Information Disclosure No.9 - Listed Companies Engaged in the Express Delivery Services Business. In this Semi-Annual Report, the company details the possible risk factors and countermeasures that may occur in the future. For more information, refer to " Section 10. Possible Risks and Countermeasures," found in "Chapter 4. Management Discussion and Analysis of Business Operation." Investors should refer to this information. The company does not plan to issue cash or stock dividends, nor to convert capital reserve into share capital. 2 S.F. Holding Co., Ltd. 2018 Semi-Annual Report Table of Contents Chapter 1 Important Information, Table of Contents, and Definitions ....................................................................................................2 Chapter 2 Company Profile and Key Financial Indicators ......................................................................................................................6 Chapter 3 Business Overview ................................................................................................................................................................ 10 Chapter 4 Management Discussion and Analysis of Business Operation .............................................................................................. 43 Chapter 5 Significant Events ................................................................................................................................................................. 75 Chapter 6 Share Changes & Shareholder Details .................................................................................................................................. 99 Chapter 7 Preferred Shares .................................................................................................................................................................. 105 Chapter 8 Directors, Supervisors and Senior Managers ...................................................................................................................... 106 Chapter 9 Corporate Bonds ................................................................................................................................................................. 107 Chapter 10 Financial Statements ......................................................................................................................................................... 108 Chapter 11 Documents Available for Reference .................................................................................................................................. 260 3 S.F. Holding Co., Ltd. 2018 Semi-Annual Report Definitions Term Description Reporting period January 1, 2018 to June 30, 2018 The same period of January 1, 2017 to June 30, 2017 last year S.F. Holding Co., Ltd. The company is formerly known as Ma’anshan Dingtai Rare Earth The company, & New Materials Co., Ltd. After completing a major asset restructuring (as defined SF Holding below) in December 2016, it was officially renamed to S.F. Holding Co., Ltd. in February 2017. RMB Renminbi RMB Shenzhen Mingde Holdings Development Co., Ltd., the controlling shareholder of S.F. Mingde Holdings Holding Co., Ltd. Dingtai New Ma’anshan Dingtai Rare Earth & New Materials Co., Ltd. The predecessor of S.F. Materials Holding Co., Ltd., it was renamed to S.F. Holding Co., Ltd. in February 2017. Taisen Holdings Shenzhen S.F. Taisen Holdings (Group) Co., Ltd., a subsidiary of S.F. Holding Co., Ltd. Shun Da Feng Run Ningbo Shun Da Feng Run Investment Management Partnership (Limited Partnership) Jia Qiang Shunfeng Jia Qiang Shunfeng (Shenzhen) Equity Investment Partnership (Limited Partnership) Zhao Guang Shenzhen Zhao Guang Investment Co., Ltd. Investment Suzhou Industrial Park Oriza Shunfeng Equity Investment Company (Limited Oriza Shunfeng Partnership) Gu Yu Qiu Chuang Suzhou Gu Yu Qiu Chuang Equity Investment Partnership (Limited Partnership) Shun Xin Feng He Ningbo Shun Xin Feng He Investment Management Partnership (Limited Partnership) Shenzhen Mingde Holdings Development Co., Ltd., Ningbo Shun Da Feng Run Investment Management Partnership (Limited Partnership), Jia Qiang Shunfeng (Shenzhen) Equity Investment Partnership (Limited Partnership), Shenzhen Zhao Guang The restructuring Investment Co., Ltd., Suzhou Industrial Park Oriza Shunfeng Equity Investment counterparties Company (Limited Partnership), Suzhou Gu Yu Qiu Chuang Equity Investment Partnership (Limited Partnership), and Ningbo Shun Xin Feng He Investment Management Partnership (Limited Partnership) In December 2016, all assets and liabilities (exchange-out assets) of the company's predecessor, Dingtai New Materials, was replaced with the equivalent 100% equity Major asset (exchange-in assets) of Taisen Holdings held by all shareholders of Taisen Holdings as of restructuring December 31, 2015. The difference between the exchange-in assets and the exchange-out assets was purchased by Dingtai New Materials, the company's predecessor, from all shareholders of Taisen Holdings, in the form of issuing shares. All assets and liabilities of the company's predecessor, Dingtai New Materials, as of Exchange-out assets December 31, 2015. Exchange-in assets 100% equity of Taisen Holdings as of December 31, 2015. 4 S.F. Holding Co., Ltd. 2018 Semi-Annual Report Term Description Hive Box Technology Hive Box Technology Co., Ltd SF Investment Shenzhen SF Investment Co., Ltd. It is a subsidiary of S.F. Holding Co., Ltd. Chengdu FengCheng Chengdu FengCheng Logistics Co., Ltd. It is a subsidiary of S.F. Holding Co., Ltd. SF Technology SF Technology Co., Ltd. It is a subsidiary of S.F. Holding Co., Ltd. 5 S.F. Holding Co., Ltd. 2018 Semi-Annual Report Chapter 2 Company Profile and Key Financial Indicators I. Company Profile Stock Abbreviation SF Holding Stock Code 002352 Changed Stock Abbreviation (If Any) SF Holding Listed Stock Exchange Shenzhen Stock Exchange Chinese Name of the Company 顺丰控股股份有限公司 Chinese Name Abbreviation of the Company 顺丰控股 English Name of the Company (If Any) S.F. Holding Co., Ltd. English Name Abbreviation of the Company SF Holding (If Any) Legal Representative of the Company Wang Wei Room 801, Floor 8, Wanfu Building, No. 303 Fuyong Avenue, Registered Address Bao'an District, Shenzhen, China Zip Code of Registered Address 518103 Wanji Business Building, Xinzhou 11th Street, Futian District, Office Address Shenzhen, Guangdong Province Zip Code of Office Address 518048 Company Website www.sf-express.com Email [email protected] II. Contacts and Contact Methods Board Secretary Securities Affairs Representative Name Gan Ling Zeng Jing Wanji Business Building, Xinzhou 11th Street, Wanji Business Building, Xinzhou 11th Street, Address Futian District, Shenzhen, Guangdong Province Futian District, Shenzhen, Guangdong Province Tel No. 0755-36395338 0755-36395338 Fax 0755-36646400 0755-36646400 Email [email protected] [email protected] 6 S.F. Holding Co., Ltd. 2018 Semi-Annual Report III. Other Information 1. Corporate Contact Information Were there any changes to the company’s registered address, office address or postal
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