HK Stock Market Move | Extremely Rabbit Express (01519) increased by over 10%, the company continues to push forward its layout in the Middle East, and the profitability of domestic business has significantly improved.

Extreme Rabbit Express (01519) increased by more than 10%, rising 8.8% at the time of writing to HKD 6.06 with a trading volume of HKD 1.11 billion. In terms of news, Extreme Rabbit Express recently announced the signing of a memorandum of understanding on logistics services with the Saudi Arabian Jubeail and Yanbu Royal Commission, officially establishing a partnership to jointly promote the logistics and supply chain development in Saudi Arabia. It is worth noting that in May of this year, Extreme Rabbit successfully completed a multi-million dollar capital increase with the involvement of Middle Eastern investors. China International Capital Corporation Limited (CICC) stated that this capital increase will help Extreme Rabbit deepen its international presence and accelerate its penetration into the Middle Eastern market. Furthermore, Extreme Rabbit Express previously announced its mid-year performance, with a net profit of USD 31.026 million in the first half of the year, turning losses into profits. In the period, revenue in the Chinese market was approximately USD 3 billion, a year-on-year increase of about 36%, with adjusted EBITDA reaching USD 200 million and adjusted EBIT turning positive for the first time. BOC International pointed out that as the company's business volume continues to increase, the scale effects of the logistics infrastructure investments made in the earlier period are gradually becoming evident. In the first half of this year, with relatively stable single ticket revenue in the Chinese region, the decrease in single ticket costs has significantly improved the profitability of the domestic business.