Group 1 - The core viewpoint of the news is that YTO Express International anticipates a net loss of approximately HKD 145 million to HKD 154 million for the fiscal year 2025, primarily due to fluctuations in the international freight market and increased investments in business optimization [1] - YTO Express has launched local delivery services in Kazakhstan, achieving same-day delivery within the city and five-day delivery across cities, with a logistics punctuality rate exceeding 99% [1] - In January, YTO Express reported a year-on-year increase of 29.75% in express business volume, although the revenue per shipment declined by 4.57% [1] Group 2 - As of February 13, 2026, YTO Express A-shares closed at CNY 17.86, down 1.27%, with a trading volume of CNY 124 million, while YTO International's Hong Kong shares closed at HKD 1.11, up 1.83% [2] - The consensus target price for YTO Express A-shares is CNY 21.50, indicating a potential upside of 26.99% from the current price, with 36 institutions predicting a 7.33% year-on-year growth in net profit for 2025 [2] - Analysts believe that the company will benefit from the "anti-involution" policy leading to price recovery, AI technology aiding cost optimization, and its international expansion potentially creating a second growth curve in the long term [2]