JD LOGISTICS (02618.HK) -0.340 (-3.913%) Short selling $9.83M; Ratio 23.704% was affected by the weak prosperity in the bulky goods industry, and the Company's contraction of its low-health business, BOCOMI released a research report saying. BOCOMI expected the Group's 2Q24 total revenue to rise by 7% YoY, down about 3% from its prior forecast.
BOCOMI forecasted the Company's 2024 revenue to grow by 8%, with an adjusted net profit of RMB4.4 billion, corresponding to a margin of 2.4%.
Related NewsJefferies Estimates JD LOGISTICS 2Q Rev. to Rise 7% YoY, Non-IFRS NP RMB1.25B
Taking into account the overall valuation adjustment for the express industry, BOCOMI cut its target price for the Company from $10.1 to $9.8, with rating kept at Neutral as its current price has reflected the growth potential of short-term business.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-12 16:25.)
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