Core Viewpoint - CITIC Securities believes J&T Express (01519) can maintain a stable EBIT of $0.07 per order in its Southeast Asia operations, supported by economies of scale and rapid growth outside the Shopee platform [1] Group 1: Southeast Asia Operations - Management expects to continue expanding market share in Southeast Asia through economies of scale and growth outside the Shopee platform [1] - The company aims to maintain a stable EBIT of $0.07 per order in this region [1] Group 2: China Market Strategy - In the competitive Chinese market, J&T Express aims to maintain a relatively stable market share [1] - Price increases since August in most provinces are expected to alleviate profitability pressures in China [1] Group 3: Future Outlook - CITIC Securities is optimistic about J&T Express's overseas expansion and the potential rebound of its Chinese operations [1] - The firm reaffirms a "outperform" rating for J&T Express [1]
中信里昂：看好极兔速递海外扩展及中国反弹 重申“跑赢大市”评级