Core Viewpoint - J&T Express has announced a significant increase in its stake in subsidiaries Jet Global and JNT Express KSA, amounting to $1.056 billion, which is expected to enhance its growth potential in new markets [1] Group 1: Company Developments - J&T Express's stock rose by over 5%, reaching HKD 11.01 with a trading volume of HKD 318 million [1] - The acquisition of additional stakes is seen as crucial for the company's development, as the new market operations are anticipated to become a new growth engine [1] - The increased stake is expected to optimize the company's shareholder structure and improve decision-making efficiency [1] Group 2: Market Outlook - Analysts from Credit Lyonnais express confidence in J&T Express's overseas expansion strategy [1] - Guosheng Securities highlights that the e-commerce boom in Southeast Asia and new markets, along with improved profitability in China, will drive significant future performance growth for the company [1]

每经记者｜赵雯琪 每经编辑｜陈俊杰 提起迪拜，许多人想到的是摩天大楼与奢华传说。但对中国企业而言，这里是"极限试验场"，要直面高 温、沙漠与陌生的商业规则，也是走向全球化过程中，一个兼具战略意义的关键节点。 2025年，美团、新石器、九识智能、货拉拉等企业相继将业务拓展到阿联酋，与更早扎根于此的中资力 量共同织就了一张密集的出海网络。迪拜由此成为一面清晰的镜子，映照出中国企业与全球市场对话时 的一道必答题：如何在真正理解并尊重另一种文明底层逻辑的前提下，完成出海的创造性落地？ 2025年岁末，《每日经济新闻》未来商业智库特别策划了"镜像2025"，记者深度对话极兔速递、新石器 和九识智能在迪拜的业务负责人，以及货拉拉海外品牌Lalamove首席运营官卢家培，复盘这片市场的挑 战与机遇。 这里的挑战具体且深刻，从禁止三轮车上路导致快递配送成本急升，到自动驾驶要适应本地彪悍的驾驶 风格；从"清真寺后的白房子"等模糊的快递地址带来的困扰，到外籍快递员携款潜逃带来的风险；从40 多摄氏度高温的炙烤，到跨文化团队的管理难题…… 中国企业在这里褪去国内惯性，学习在陌生商业生态中重新扎根。他们在每一次调试、谈判与危机中， ...

Core Viewpoint - The report from Credit Lyonnais expresses confidence in J&T Express-W (01519)'s overseas expansion strategy, projecting sales from new market operations to reach $748 million by 2025, with adjusted EBITDA of $36 million, while maintaining an "outperform" rating and a target price of HKD 11.9 [1] Group 1: Company Developments - J&T Express has announced a significant increase in its stakes in subsidiaries Jet Global and JNT Express KSA, responsible for its new market operations, involving a total investment of $1.056 billion [1] - The initial payment of approximately $317 million will be made by the end of this year using the company's existing cash reserves [1] Group 2: Strategic Implications - This move is deemed crucial for J&T Express's development, as the new market operations are expected to become a new growth engine [1] - A more concentrated shareholding structure is anticipated to enhance decision-making efficiency, with adjusted EBITDA expected to reach breakeven by 2025 [1] - The increase in stakes will also help optimize the company's shareholder structure [1]

Core Viewpoint - The report from Credit Lyonnais expresses confidence in J&T Express-W (01519)'s overseas expansion strategy, projecting sales from new market operations to reach $748 million by 2025, with adjusted EBITDA of $36 million, while maintaining an "outperform" rating and a target price of HKD 11.9 [1] Group 1 - J&T Express has announced a significant increase in its stake in subsidiaries Jet Global and JNT Express KSA, responsible for its new market operations, involving a total investment of $1.056 billion [1] - The initial payment of approximately $317 million will be made by the end of this year using the company's existing cash reserves [1] - This move is considered crucial for J&T Express's development, as the new market operations are expected to become a new growth engine [1] Group 2 - A more concentrated ownership structure is anticipated to enhance decision-making efficiency [1] - It is projected that the adjusted EBITDA will reach breakeven by 2025 [1] - The increase in stake will also help optimize the company's shareholder structure [1]

Group 1 - The core viewpoint of the article is that J&T Express has significantly increased its stake in subsidiaries Jet Global and JNT Express KSA, with a total investment amounting to $1.056 billion [1] - The initial payment of approximately $317 million will be made by the end of this year using the company's existing cash reserves [1] - This move is considered crucial for J&T Express's development, as the new market operations are expected to become a new growth engine, and a more concentrated shareholding structure will enhance decision-making efficiency [1] Group 2 - The investment is also expected to optimize the company's shareholder structure [1] - The bank maintains confidence in J&T Express's overseas expansion strategy, projecting that sales from new market operations could reach $748 million by 2025, with adjusted EBITDA of $36 million [1] - The bank reaffirms its "outperform" rating with a target price of HKD 11.9 [1]

智通财经APP获悉，国盛证券发布研报称，东南亚与新市场的电商红利带来的极兔速递-W(01519)业务 规模增长，中国的盈利能力改善，将共同驱动公司未来业绩高增。该行预测极兔速递2025-2027年经调 整净利润分别为3.71/5.71/7.64亿美元，分别同比增长85.2%/54.0%/33.8%，对应经调整EPS分别为 0.040/0.061/0.083美元/股。考虑到公司在东南亚市场与拉美中东市场的的高成长性应享有估值溢价，该 行给予公司26年目标P/E27x，结合公司2026年经调整EPS预测0.061美元/股，对应合理估值12.90港元， 给予"买入"评级。 国盛证券主要观点如下： 中国：规模基本盘，海外标准输出基地 中国市场贡献了公司约75%的包裹量。公司在中国形成的先进、成熟的快递技术和经验，正被体系化的 赋能到东南亚和新市场，帮助在海外各国取得技术和经验优势，不断降低成本，提升海外竞争力与全球 区域优势协同。此外，随着下半年中国快递行业"反内卷"推进及多地提价落地，快递单票收入已明显回 升，中国区盈利有望改善。 新市场：卡位蓝海潜力无限 拉美、中东新市场GDP总量与人均水平均高于东南亚，但电商渗 ...

极兔速递是一家从东南亚崛起，并成功拓展至中国及拉美中东的全球化快递企业，快递网络覆盖了13个 国家，当前，核心投资逻辑在于，公司正同时享受东南亚电商及社媒平台崛起、中国的"反内卷"下盈利 修复与标准输出以及新市场电商的爆发式增长三重红利。 东南亚：盈利压舱石，乘社交电商东风而上 东南亚是公司的起家市场和利润"压舱石"，市占率稳居行业第一。2025年，公司成功把握了TikTokShop 在东南亚爆发式增长的战略机遇，通过深度合作承接其主流件量，驱动市场份额持续提升至32.8% (2025H1)。东南亚2025年前三季度包裹量同比增长65%，2025年上半年经调整EBIT同比增长74%。通过 持续的成本优化和运营经验赋能，在获取市场份额的同时保持了健康的盈利能力，东南亚市场有望在未 来5年持续保持较高增长速度，并贡献主要的利润增量。 中国：规模基本盘，海外标准输出基地 国盛证券（002670）发布研报称，东南亚与新市场的电商红利带来的极兔速递-W(01519)业务规模增 长，中国的盈利能力改善，将共同驱动公司未来业绩高增。该行预测极兔速递2025-2027年经调整净利 润分别为3.71/5.71/7.64亿美元， ...

Core Insights - The report highlights that Jitu Express (01519.HK) is a rapidly growing global express delivery company originating from Southeast Asia, with a strong presence in 13 countries, benefiting from the rise of e-commerce and social media platforms in the region, as well as profitability recovery in China and explosive growth in new markets [2][3]. Company Overview - Jitu Express is positioned to leverage three key growth drivers: the booming e-commerce market in Southeast Asia, the recovery of profitability in China due to reduced competition, and the rapid expansion of e-commerce in new markets [2][3]. Financial Projections - The adjusted net profit forecasts for Jitu Express from 2025 to 2027 are projected to be $369 million, $563 million, and $750 million, representing year-on-year growth rates of 84.3%, 52.6%, and 33.1% respectively [3]. - The expected adjusted EPS for the same period is $0.040, $0.061, and $0.081 per share [3]. Valuation and Investment Rating - Given the high growth potential in Southeast Asia and the Latin America and Middle East markets, the company is expected to command a valuation premium. The target P/E ratio for 2026 is set at 27x, based on the projected adjusted EPS of $0.061 [3]. - The report assigns a "Buy" rating for Jitu Express, indicating a favorable outlook for the company's stock performance [3].

极兔速递-W(01519.HK)发布公告，于2025年12月25日，卖方、New Exploration Investment、Jet Global、 Onwing Global与公司订立股份转让协议I，据此，Onwing Global(公司附属公司)同意收购且卖方及New Exploration Investment同意出售Jet Global合共约36.99%(按已转换基准)的股权，总对价最高为9.50亿美 元。 本文源自：金融界AI电报 ...

极兔速递-W(01519)发布公告，于2025年12月25日，卖方、New Exploration Investment、Jet Global、 Onwing Global与公司订立股份转让协议I，据此，Onwing Global(公司附属公司)同意收购且卖方及New Exploration Investment同意出售Jet Global合共约36.99%(按已转换基准)的股权，总对价最高为9.50亿美 元。 于2025年12月25日，eWTP、JNT Express KSA、J&T KSA与公司订立股份转让协议II，据此，J&T KSA(公司非全资附属公司)同意收购且eWTP同意出售JNT Express KSA合共约46.55%的股权，总对价最 高约为1.06亿美元。 于本公告日期，公司间接拥有JNT Express KSA约53.45%权益，而JNT Express KSA为公司的非全资附属 公司。建议JNT Express KSA转让完成后，JNT Express KSA将由公司间接全资拥有且将继续为公司的附 属公司，而JNT Express KSA的财务业绩将继续并入公司的财务报表中。 建议转让拟 ...