Core Insights - J&T Express-W (01519) shares rose over 5%, currently trading at HKD 10.64 with a transaction volume of HKD 211 million [1] Company Performance - J&T Express reported a total parcel volume of approximately 7.68 billion for Q3, with an average daily parcel volume increasing to 83.4 million, representing a year-on-year growth of 23.1% [1] - The Southeast Asian market accounted for 1.9968 billion parcels, a significant year-on-year increase of 78.7% [1] - In China, the parcel volume reached 5.5758 billion, showing a year-on-year growth of 10.4% [1] - New markets contributed 104.2 million parcels in Q3, reflecting a year-on-year growth of 47.9% [1] Industry Analysis - Daiwa released a report indicating that the Southeast Asian express delivery market has entered a new development phase due to intensified platform competition and market share consolidation [1] - The report suggests that J&T's market positioning and competitive cost structure will provide an advantage in this new growth phase [1] - In the Chinese market, the industry is experiencing a reduction in internal competition, with average prices improving quarter-on-quarter, although parcel volume growth is slowing, leading to increased unit costs [1] - Management maintains a neutral to slightly optimistic outlook for domestic business for the year, considering ongoing optimization of the domestic customer structure [1]
港股异动 | 极兔速递-W(01519)再涨超5% 三季度东南亚与新市场业务量超预期