Lates News

Bank of America Securities released a report indicating that Jitu Express's market share has reached 30%. The reduction in business volume of Shopee in Indonesia is unlikely to affect the performance guidance for the 2025 fiscal year. In addition, Jitu Express is expanding its network in East Java Province, Indonesia, and its cost structure may be lower than that of e-commerce platforms' self-operated logistics. With the average selling price decreasing, Jitu Express is able to reduce unit costs and its level of automation is higher than other countries in Southeast Asia. Considering the attractive valuation of Jitu Express, Bank of America Securities reiterated its "buy" rating with a target price raised from 7.5 HKD to 7.7 HKD. The bank adjusted Jitu Express's net profit forecast for the fiscal years 2025 to 2026 by 0% to 4%, mainly based on higher business volume growth in the Southeast Asian market after a strong first quarter, and the potential slight positive EBITDA from new markets with TikTok Shop launching in Brazil in May and in Mexico in February.