Lyon: JD Logistics (02618.HK) third quarter performance meets expectations, maintains "outperform" rating.

According to the Zhixun Finance APP, Lyon released a research report stating that JD Logistics (02618.HK) achieved a 24% increase in sales in the third quarter. The bank expects the profit margin in the fourth quarter to rebound on a quarterly basis, due to higher capacity utilization, significant internal growth, and revenue contribution from the food delivery business. By 2026, the bank believes that JD Logistics will focus more on improving the efficiency and utilization of existing resources, which is expected to gradually increase the profit margin. Sales forecast for 2025 to 2027 was raised by 2%, while the earnings per share forecast had limited changes. The target price was maintained at 15.7 Hong Kong dollars with an outperform rating.