Let me start with two things that i have recently experienced in connection with sunfeng。
1. Surprise of the fong net express
On april 23rd, world reading day, when i was promoting many books on april 21, i bought "why shao tai is so cool " , at a price of $1 and a delivery fee of $6, and then one for $7 and two for $8. I bought two copies and sent one to friends。
The book was supposed to be so cheap that when it came to a three-point-and-a-half delivery, it wasn't meant to be used。
As you can see, on the evening of 21 april, at 23. 45 p. M., it was sent out from the non-tin warehouse, and the result was signed at 10. 45 a. M. On 22 april, after only 11 hours and a $6 delivery fee? Economies of scale do work
Nor is the book eager to read, and i expect it to be delivered in two or three days. It's not supposed to be that fast, and i don't expect that。
To be able to do this so quickly, i personally judge that there is a spillover of a successful prescription, that is to say, when the prescription is sufficient, the service will automatically be passed over to the "funnet" fast, thereby increasing the capacity utilization rate and providing some of the clients with a super-surprising experience。
Shun fung's financial report shows that shun fung was a courier from 2019, when an electrician business was launched, under the name of sun fong special. Subsequently, in order to distinguish it from the traditional high-end prescriptions, a market brand, the “rich net”, was deliberately launched, focusing on the express delivery of electrician business。
Sun-fung has taken a lot of money to take over the power company, and if he does, he will take back his investment and make a profit! The business was placed on the economic courier business block in the financial statements。
But it's not that simple, because the biggest e-commerce site, the pick-up logistics, is wrapped up in a union agreement with triple one; the second largest e-commerce, kyoto, has its own kyoto logistics; the first three, with three logistics, is a lot from a few years ago, and now the ultra-rabbit express (a company with an indonesian background, which is said to have an oppo high-step, zhangping is the leader) is dedicated to a lot of cooperation。
Indeed, the opportunities and target markets are small, and it seems that there are only a few high-end electricists, such as the right ones, the right ones, the easy ones, etc.? It is even more difficult to rob the market by scavenging treasures and brands。
It's hard to tell who's gonna win. We'll see
2. Whole vehicle and zero operating power -- dell direct model
I know that this land transport business started with this picture of the logistics age magazine, which i keep booking, which was published in november 2020 as a fast-track centre for sunfung。
I looked at the financial report of the profligacy, the 18. 5 billion-dollar express operation in 2020, which consisted of a car, a zero and a large courier operation, 12. 26 billion in 2019, compared to 8. 1 billion in 2018, which was an increase of 45 per cent + in the past two years。
Since i was interested in knowing, i called in the customer manager who normally runs our company's express delivery business, and he said he was not directly in charge of the business, and he made an appointment with the manager of the area, his immediate head。
I talked to the zone manager for about an hour, and he's been working for nine years at sunfung, working from a courier, slowly getting up to management. The young man speaks with sincerity and has not been baptized with all kinds of management training。
He described the construction of a two- to three-hour asian flight at sunfeng airport, which had been selected for the state of hubeiau and was expected to start operating this year。
I have looked into information that the airport in okzhou is expected to sail in 2021, with 2. 45 million tons of mail through 2025 and 1 million passengers through. By comparison, shanghai's postage capacity in 2020 was 4. 02 million tons, beijing 1. 28 million tons, zhejiang 1 million tons, jiangsu 670,000 tons, chongqing 410,000 tons, and the entire province of hubei is currently only 300,000 tons, with a cargo terminal assistant, as if the goal of the airport in ukzhou was within reach。
With this cargo terminal, much of china can be covered, as well as densely populated countries such as indonesia and india。
The second is the introduction to the sunfon layout of land transport, which is the “fast-track” operation we see here. This is the case with official information: unlike the high concentration of the standardized, more scalable express delivery industry, the zero-burden industry in which the fast-forward transport takes place, although it is a trillion-class market, is still in the early stages of scale and industry integration. In july 2019, the fast-go-fast brand was officially launched, creating a fast-go-fast double brand with the fast-go-fast internet since 2018, and positioning fast-go-fast at a high time and high quality。
High- and medium-sized markets with high-quality service experiences, “fast-the-line” focus on the internet-wide medium-size express market, and dual brands complement each other in business models and product positioning。
The third is the presentation of a smooth technology layout, drones, eyes and eyes. Shuntung has a website, a web link. Maybe one day someone will tell you that sunfeng is a technology company other than the big bat factory。
Again with the business needs of our company。
Our company's manufacturing plant is in the long triangle, with several major suppliers in the vicinity, and now transport convoys are processed through large freight forwarders. Freight forwarders have both export clearance operations, import clearance operations, warehousing and partial domestic transport。
I tried to get a price from the client manager, because it was an existing supplier that did not let the procurement intervene to negotiate the price, and i just wanted to see where it might be。
As a result, two days later, the successful offer was returned, efficiency was good and prices were impressive. It's 20% less than my usual freight forwarder, and that's 20% of what the freight forwarder left for himself. This price reminds me of dale's direct sales pattern。
If you follow this pattern and use your own brand and network, you can eat a large piece of cake. By cutting off one of the middle dealers, the price can drop by 20%! The key is to see how the service can be replicated at the commercial level。
The price is fine. I tried a ticket last week。
It's probably in 2015 for having worked with him once. At that time, the processes and personnel qualities of the heavens and the earth could not be reconciled with formal foreign enterprises, nor could a simple down-list process be formalized。
Fortunately, after five years of market development, the experience is quite good, whether it's from the spread of communication channels (thank you for the twitter product) or from the improvement of the quality of the industry as a whole。
The company has to issue a shipping power of attorney, and then sunfung has provided a formal mail system and responded very quickly, xxx@sfmail. Sf-express. Com。
Under the e-mail and twitter channel, the order was placed at 10 a. M., the same day, the afternoon, a ticket from the vendor's warehouse, to our own warehouse 100 kilometres away by 5 p. M., and the three parties were satisfied。
Here, a free advertisement is given to hsi fong land transport, where all those who have domestic transport operations can try to contact the customer manager, or even the courier, who will report to his supervisor and contact the land transport business. Maybe you can see the surprise
In the market for land transport, where fish dragons are mixed, quite confused and the threshold for starting is very low, it is standardization and productization that is required to reassure many businesses about the use of cars and the ease of delivery。
3. The layout of the web and express transport
Did sun-fung say he was taking over the electrician and the land transport market
Let's see where sunfeng spends his money on financing and operating income
Where do you want to find him? Ask shun fung's client manager? Come on, they don't know. I can't get a service client to pick up every day
Don't listen to gossip. It's in the papers。
Open the financial statements and search for the investment situation analysis。
In 2020, the level of turnover was 150 billion, with net profits of 7. 3 billion, compared with investments of 14. 15 billion in 2020 and $12. 91 billion in 2019. The money comes largely from financing and credit borrowing. A clear change from 2020 to 2020 is that the estimated trend of 2021 remains the same
Increase internal investment and reduce foreign equity investment。
The reduction was only one: equity investment fell from $6. 49 billion to $1. 88 billion, resulting in a net reduction of rmb 4. 6 billion。
And then look at the increase: first, there's an increase in the sorting center of 2. 9 billion, an increase of 311 percent。
Then there was an increase of 800 million, or 194 per cent. (i read in the newspaper that there are a lot of electric estates, and i don't know how electricity companies play, but it's about wuhan, xian, tianjin, chengdu, guiyang, changsha, zhengzhou, etc.)
Once again, vehicles increased by $689 million, or 120 per cent。
From this, it can be seen that the sun-fung layout is primarily electrician, followed by land transport, followed by aircraft, warehouses, it technology, etc., which is consistent with the two expected growth operations i have observed above。
At least that's what he said。
4. Express market position bureau
In 2020, the industry was still growing at a high rate of 17. 3 per cent, and business growth was expected at a rate of 37 per cent in terms of operating income, surpassing for the first time 150 billion and profit of 7. 3 billion, while the second-largest medium express transit company received only 25. 2 billion, profit of 1. 3 billion and net profits of 26. 39 per cent。
The total number of cases sent was 17 billion, an increase of 40 per cent, or 1. 3 per cent, compared to 8,137 million, but an increase of 68. 5 per cent
The market share is the smallest, but the first. Explain the problem
In order to seize the market, it is necessary to move gradually from a more profitable air transport to a market with both air and land transport. Air transport is now almost monopolistic, and land transport, which required heavy investment in vehicles, stations, personnel, etc., was indeed the turn-off of the company in 2021, with increased revenue, but a decline in profits is necessary。
From a speculative point of view, three questions need to be answered:
Is corporate performance real? The operating cash flow over the last three years was 1. 5 times the net profit。
B. Sustainability? It has been going on for three years。
C. Do more funds need to be invested to sustain performance? There is no need to invest so much in maintaining the current performance, but the goal is far from maintaining the current scale, but to learn to be the first chair of fedex and ups。
The annual revenue of ups in 2020 was $84. 6 billion, or 550 billion people, 3. 5 times the surplus, with a profit of $7. 8 billion, or rmb 50. 7 billion, seven times the surplus. See the efficiency of ups。
Fedex collected $69. 2 billion a year in 2020, profiting $1. 6 billion, much worse than ups
If sun-fung wants to learn world leadership, look more at ups and less at fedex。
Other business growth, such as smooth technology, drones and even the acquired dhl supply chain, could be considered a safe margin for smooth valuation。
Looking at this broken-down chart of receivables, i personally judge that, over the next 1-2 years, economic courier receivables will catch up with a time-barred delivery, and that the fast-track business will continue to grow at a rate of 50 per cent, while the fourth line of business is supply chain operations, with promising growth to $10 billion, 20 billion plus。
With regard to the chairman of sunfung, wang wei, i have read two books, summing up:
(a) flow-through: the glory of the new blue-collar age
The king of express: master of shun fung。
The industry tells you that the future of sunfung depends on that
