Ge Long Hui·2026-01-16 02:23Group 1 - The core viewpoint of the article is that Jitu Express and SF Express have announced a strategic equity cooperation involving a total investment of HKD 8.3 billion [1] - Jitu will issue approximately 822 million Class B shares to SF at a discount of nearly 14%, while SF will issue approximately 226 million H shares to Jitu at a premium of about 3.9% [1] - After the transaction, SF will hold a 10% stake in Jitu, while Jitu will own 4.29% of SF [1] Group 2 - The cooperation is expected to dilute the existing shareholders' equity for both companies but is seen as a significant step for business development [1] - This partnership is anticipated to enhance both companies' logistics capabilities in overseas markets, which is a key growth driver [1] - The target prices set by Citi for Jitu and SF are HKD 11.9 and HKD 47.4 respectively, with both rated as "outperform" [1]