Asian Equities Analyst, Logistics & Transport

Tracking Traffic

Focusing on Asian logistics, transportation, and travel companies

JD Logistics H1/Q2 Results | Momentum, Profitability Show Mixed Signals | Shares Drained Of Optimism

Monthly Chinese Express Tracker | Q425 Volume, ASP Data Show SF Holding Strength, ZTO Struggles

SF Hldg and J&T Announce New Cross-Shareholding | Good Strategic Fit | Losers Are BABA, DHL, Flash

JD Logistics Q424 Earnings: Taobao / Tmall Access Fails to Generate Expected Benefits

ZTO Express Q325 Results | Revenue, ASPs Both Up Y/Y | But Earnings, Margins Both Down | AVOID

Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

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


Cainiao Smart Logistics Network (1437124D HK)

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