Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Asian Equities Analyst, Logistics & Transport

Tracking Traffic

Focusing on Asian logistics, transportation, and travel companies

Equity Bottom-Up

<ul>
<li>Solid momentum: the pace of revenue growth slowed in Q425, but still reached 21.9% Y/Y</li>
<li>Owing to poor cost control, Q425 margins fell again, though pace of declines eased</li>
<li>Sigh of relief? Even after Friday's 23% surge, JD Logistics' shares down ~4% vs a year ago</li>
</ul>


Solid momentum: the pace of revenue growth slowed in Q425, but still reached 21.9% Y/Y
Owing to poor cost control, Q425 margins fell again, though pace of declines eased
Sigh of relief? Even after Friday's 23% surge, JD Logistics' shares down ~4% vs a year ago


JD Logistics Q425 Earnings: Top-Line Growth Strong, but Margins Shrank on Weak Cost Control

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Mar 6th based on HKEx daily reports.</li>
<li>In the past 7 days, the top 3 companies that repurchased the most shares from the market were Geely Automobile (175 HK), Xiaomi (1810 HK), Yidu Tech (2158 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Zto Express (2057 HK), Xiaomi (1810 HK), Geely Automobile (175 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Mar 6th based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were Geely Automobile (175 HK), Xiaomi (1810 HK), Yidu Tech (2158 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Zto Express (2057 HK), Xiaomi (1810 HK), Geely Automobile (175 HK).


Hong Kong Buybacks Weekly (Mar 6th): Geely Automobile, Xiaomi, Yidu Tech

<ul>
<li>We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Feb 27th based on HKEx daily reports.</li>
<li>In the past 7 days, the top 3 companies that repurchased the most shares from the market were Xiaomi (1810 HK), Geely Automobile (175 HK), Netease Cloud Music (9899 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Zto Express (2057 HK), Xiaomi (1810 HK), Geely Automobile (175 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Feb 27th based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were Xiaomi (1810 HK), Geely Automobile (175 HK), Netease Cloud Music (9899 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Zto Express (2057 HK), Xiaomi (1810 HK), Geely Automobile (175 HK).


Hong Kong Buybacks Weekly (Feb 27th): Xiaomi, Geely Automobile, Netease Cloud Music

<ul>
<li>In January, the four China-listed express companies reported volatile operating statistics</li>
<li>Total parcel volume grew by 19% Y/Y; price momentum ranged from +14% to -6%</li>
<li>We believe the market is unsettled following the formation of a SF Hldg - J&amp;T alliance</li>
</ul>


In January, the four China-listed express companies reported volatile operating statistics
Total parcel volume grew by 19% Y/Y; price momentum ranged from +14% to -6%
We believe the market is unsettled following the formation of a SF Hldg - J&amp;T alliance


Monthly Chinese Express Tracker | Lots of Noise in January 2026 Numbers From Four China-Listed Firms

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of January 30th.</li>
<li>The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.</li>
<li>We highlight flows for China Mobile, Pop Mart Intl, Tencent, Zijin Mining, Xiaomi, Alibaba, China Life, Sinopec, China Hongqiao, Innovent Biologics.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of January 30th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for China Mobile, Pop Mart Intl, Tencent, Zijin Mining, Xiaomi, Alibaba, China Life, Sinopec, China Hongqiao, Innovent Biologics.


HK Connect Flows Weekly (Jan 30th): China Mobile, Pop Mart Intl, Tencent, Zijin Mining, Xiaomi

China

J&T Global Express is an investment holding company primarily engaged in providing integrated express delivery and global logistics services. The company offers parcel sorting, line-haul transportation, dispatching, cross-border services, and cash-on-delivery. It was founded in 2015 and is headquartered in Shanghai, China.

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J&T Global Express (1519 HK)

JD Logistics Q425 Earnings: Top-Line Growth Strong, but Margins Shrank on Weak Cost Control

Shares jumped by 23% last Friday after the company disclosed Q425 results that showed solid top-line results but still no end to declining core...

Tracking Traffic

Hong Kong Buybacks Weekly (Mar 6th): Geely Automobile, Xiaomi, Yidu Tech

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Geely Automobile...

Ke Yan, CFA, FRM

Hong Kong Buybacks Weekly (Feb 27th): Xiaomi, Geely Automobile, Netease Cloud Music

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Xiaomi, Geely...

Ke Yan, CFA, FRM

Monthly Chinese Express Tracker | Lots of Noise in January 2026 Numbers From Four China-Listed Firms

The monthly operating statistics reported by the four China-listed express companies for January look strange, and we believe they contain lots of...

Tracking Traffic

HK Connect Flows Weekly (Jan 30th): China Mobile, Pop Mart Intl, Tencent, Zijin Mining, Xiaomi

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for China Mobile (941 HK), Pop Mart Intl (9992 HK), Tencent...

Ke Yan, CFA, FRM

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