Investment Rating - The report maintains an "Outperform" rating for J&T Express (01519) [2][7] Core Insights - J&T Express continues to experience high growth in Southeast Asia, with a significant increase in package volume, particularly in new markets [7] - The company has adjusted its profit forecasts upward due to better-than-expected performance in package volumes for Southeast Asia and new markets [7] - The financial outlook shows a strong revenue growth trajectory, with projected revenues increasing from $8.85 billion in 2023 to $19.91 billion by 2027, reflecting a compound annual growth rate (CAGR) of approximately 27.86% [6][8] Financial Data and Profit Forecast - Revenue projections for J&T Express are as follows: - 2023: $8,849 million - 2024: $10,259 million - 2025E: $12,406 million - 2026E: $15,573 million - 2027E: $19,911 million - Adjusted net profit forecasts are: - 2025E: $387 million - 2026E: $602 million - 2027E: $888 million - The company is expected to achieve a net profit growth rate of 93.01% in 2025, 55.69% in 2026, and 47.47% in 2027 [6][8]
极兔速递-W（01519）：东南亚及新市场业务量高增，上调盈利预测