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 Capital Markets

Cainiao Smart Logistics Network / Equity Capital Markets

<ul>
<li>In this insight we review important e-comm logistics transactions from 2023</li>
<li>We also provide a preview of potential e-comm logistics deals in 2024</li>
<li>Interested readers can also find links to HKEX filings and our earlier insights</li>
</ul>


In this insight we review important e-comm logistics transactions from 2023
We also provide a preview of potential e-comm logistics deals in 2024
Interested readers can also find links to HKEX filings and our earlier insights


Asian E-Comm Logistics | Review of 2023 ECM and M&A Activity | Preview of 2024 Deals

J&T Global Express  / Equity Capital Markets

<ul>
<li>KEX's EBIT margin fell to -38% in Q323, but showed Q/Q improvement vs Q223</li>
<li>Q/Q progress on margin most likely due to KEX initiatives, not market recovery</li>
<li>Ongoing weakness in Thai domestic express market marginally negative for J&amp;T </li>
</ul>


KEX's EBIT margin fell to -38% in Q323, but showed Q/Q improvement vs Q223
Q/Q progress on margin most likely due to KEX initiatives, not market recovery
Ongoing weakness in Thai domestic express market marginally negative for J&amp;T 


Q323 Another Tough Quarter for Kerry Express Thailand (KEX) | Negative Read-Through for J&T Global

Fintech & EM-focused Analyst, KT Capital Group

Alec Tseung

Fintech & EM-focused Analyst

KT Capital Group

Principal investments and advisory firm that focuses on connecting the CIS countries with East Asia.

Principal investments and advisory firm

Private Capital Markets

<ul>
<li>Ninja Van is a leading Singapore-based logistics company in Southeast Asia with almost 100% last-mile courier coverage of the region. </li>
<li>The company was valued at $1.85bn based on its previous capital raise in September 2021.</li>
<li>An investment in the company could offer indirect and broader exposure to Southeast Asia's e-commerce sector since it counts most of the e-commerce players in the region as its clients.      </li>
</ul>


Ninja Van is a leading Singapore-based logistics company in Southeast Asia with almost 100% last-mile courier coverage of the region. 
The company was valued at $1.85bn based on its previous capital raise in September 2021.
An investment in the company could offer indirect and broader exposure to Southeast Asia's e-commerce sector since it counts most of the e-commerce players in the region as its clients.      


Ninja Van: SEA's Last-Mile Courier with ~100% Regional Coverage

Singapore

Ninja Logistics Pte. Ltd., doing business as Ninja Van, operates as a technology enabled logistics company. The Company offers packaging, pickups, shipping, delivery, and tracking services. Ninja Van serves customers in Southeast Asia.

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Ninja Van (1331874D SP)

Asian E-Comm Logistics | Review of 2023 ECM and M&A Activity | Preview of 2024 Deals

In this insight readers can find a review of ECM and M&A activity in the Asian E-comm logistics space in 2023, plus a preview of potential...

Tracking Traffic

Q323 Another Tough Quarter for Kerry Express Thailand (KEX) | Negative Read-Through for J&T Global

Q323 was another quarter of Y/Y declines in revenue and margins for KEX, though profitability actually improved versus Q2. The read-through for...

Tracking Traffic

Ninja Van: SEA's Last-Mile Courier with ~100% Regional Coverage

Investing in Ninja Van is a good option to indirectly gain exposure to Southeast Asia's growing e-commerce sector without having to bet on a single...

Alec Tseung

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