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]
里昂：极兔速递-W(01519)增持海外营运实体 看好其海外扩张 重申“跑赢大市”评级