Huaxing Securities: Maintaining JD Logistics's (02618) “Buy” Rating and Raising Target Price to HK$23.28

The Zhitong Finance App learned that Huaxing Securities released a research report stating that while maintaining the “buy” rating of JD Logistics (02618), the target price was raised from HK$22.9 to HK$23.28. The Group's revenue last year increased 9.7% year over year, reaching the high position of management's high single-digit percentage growth guidelines. Adjusted net profit increased 187% year over year, and the adjusted net profit margin was 4.3%, higher than management's initial 3% to 4% profit margin guidelines. The above strong performance was mainly due to increased gross margin, which benefited from operating leverage, continuous automation, and efficiency improvements.