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<Research>CICC Raises JD LOGISTICS TP to HKD19.4; 1Q Results Beat; Shareholder Returns Launched for First Time
CICC issued a report on JD LOGISTICS (02618.HK), which logged 1Q results that beat both the broker's and market's expectations. Revenue mounted 29% YoY to RMB60.6 billion; ...
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<Research>CICC Raises JD LOGISTICS TP to HKD19.4; 1Q Results Beat; Shareholder Returns Launched for First Time
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CICC issued a report on JD LOGISTICS (02618.HK)  +0.050 (+0.362%)    Short selling $40.27M; Ratio 27.154%   , which logged 1Q results that beat both the broker's and market's expectations. Revenue mounted 29% YoY to RMB60.6 billion; net profit spiked 95% YoY to RMB880 million; non-IFRS net profit grew 40.1% YoY to RMB1.05 billion.

The 1Q results beat was mainly driven by accelerated overseas expansion, deeper cooperation with supply chain customers, and volume and revenue growth supported by service optimization in the express delivery business.

The report highlighted that the company launched shareholder return initiatives for the first time, establishing a trust and repurchasing shares, demonstrating confidence in its long-term development and shareholder returns.

CICC maintained its earnings forecasts for 2026 and 2027, projecting non-IFRS net profit of RMB9.74 billion and RMB10.77 billion, respectively. The broker maintained its Outperform rating and raised the TP by 22% to HKD19.4, considering its optimism on steady growth in future earnings and shareholder returns, paired with market risk preference.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-22 16:25.)

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