Congratulations to Hangzhou SF Intra-City Industrial Co., Ltd. (9699.HK) on its Successful Listing

Hangzhou SF Intra-City Industrial Co., Ltd. (SF Intra-city) has been successfully listed on the Mainboard of HKSE. AVISTA Group is honored to be engaged in providing valuation services with regards to this listing application.

SF Intra-city is an on-demand delivery service provider in China. Started as a business unit of SF Holding Group in 2016, the company has operated as an independent legal entity since 2019, with a network covering over 1,000 cities and counties in China now. As of May 31, 2021, SF Intra-city cooperated with over 2,000 merchant brands and served more than 530,000 registered merchants.

It is estimated that the annual order volume of on-demand delivery services in the industry will further increase to 29.2 billion in 2021, according to the iResearch Report. SF Intra-city had 513.7 million orders in the first 5 months of 2021. According to the rough estimate of the average daily orders, the market share of SF Intra-city has reached 4.3%, which is an almost four-fold increase compared to its 1.2% market share in 2019. SF Intra-city has also grown into the largest third-party on-demand delivery services platform in China with market share being 11.1% in the first 3 months in 2021.

Date: 14 Dec 2021

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