SF Holding(002352)2024-10-31 08:12Investment Rating - The report maintains an "Outperform" rating for the company, indicating a positive outlook for its stock performance relative to the market [4][6]. Core Insights - The company reported a significant increase in revenue and net profit for Q3 2024, with revenue reaching 72.45 billion yuan, a year-on-year growth of 12.07%, and net profit of 2.81 billion yuan, up 34.59% year-on-year [4][5]. - The company has demonstrated resilience in its operations, achieving a volume of 3.229 billion parcels in Q3 2024, reflecting a 14.37% increase year-on-year, despite external pressures [5]. - The company has announced substantial dividend plans, including a mid-term dividend of 1.92 billion yuan and a special dividend of 4.8 billion yuan, totaling over 6.7 billion yuan, showcasing its commitment to shareholder returns [5]. - The ongoing IPO process for the Hong Kong market is expected to enhance the company's international business capabilities and create further growth opportunities [5]. Financial Summary - For the fiscal year 2024, the company is projected to achieve total revenue of 290.917 billion yuan, with a year-on-year growth rate of 12.6% [7]. - The net profit for 2024 is estimated at 10.027 billion yuan, reflecting a growth rate of 21.8% compared to the previous year [7]. - The earnings per share (EPS) is expected to reach 2.08 yuan in 2024, with a consistent upward trend projected for the following years [7][9].