BofA Securities Affirms "Buy" Rating on JD Logistics After Strong Q4 Performance

Stock News03-09

BofA Securities issued a research report stating that JD LOGISTICS (02618) delivered better-than-expected results for the fourth quarter of last year, driven by a decline in operating expenses. The firm reiterated its "Buy" rating with a target price of HK$15. Management expressed optimism regarding the outlook for fiscal year 2026, guiding for revenue growth of 20% to 25% and non-IFRS net profit growth of 25% to 30%. Achieving these targets would imply a 15% to 20% upside to current profit forecasts, exceeding the assumptions of even the most optimistic investors by approximately 10% to 15%. This would equate to a forecasted price-to-earnings ratio of below 7 times for fiscal year 2026.

JD LOGISTICS reported a non-IFRS net profit of 2.35 billion yuan for the fourth quarter, a 6% year-on-year increase that was 4% higher than the firm's forecast. Revenue and gross profit grew by 22% and 17% year-on-year, respectively, meeting expectations. Revenue from JD.com surged 68% year-on-year, benefiting from the consolidation of food delivery and on-demand delivery businesses. Revenue from external supply chain logistics increased by 3%, though growth in the customer base was partially offset by a 6% decline in average revenue per customer. Expenditures for sales and marketing, research and development, and general administration were 8% to 13% lower than the firm's projections.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1186806447?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-03-09 09:22","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1186806447","market":"other","top_or_hot":-1,"title":"BofA Securities Affirms \"Buy\" Rating on JD Logistics After Strong Q4 Performance","media":"Stock News","content":"<p>BofA Securities issued a research report stating that JD LOGISTICS (02618) delivered better-than-expected results for the fourth quarter of last year, driven by a decline in operating expenses. The firm reiterated its \"Buy\" rating with a target price of HK$15. Management expressed optimism regarding the outlook for fiscal year 2026, guiding for revenue growth of 20% to 25% and non-IFRS net profit growth of 25% to 30%. Achieving these targets would imply a 15% to 20% upside to current profit forecasts, exceeding the assumptions of even the most optimistic investors by approximately 10% to 15%. This would equate to a forecasted price-to-earnings ratio of below 7 times for fiscal year 2026.</p>\n<p>JD LOGISTICS reported a non-IFRS net profit of 2.35 billion yuan for the fourth quarter, a 6% year-on-year increase that was 4% higher than the firm's forecast. Revenue and gross profit grew by 22% and 17% year-on-year, respectively, meeting expectations. Revenue from JD.com surged 68% year-on-year, benefiting from the consolidation of food delivery and on-demand delivery businesses. Revenue from external supply chain logistics increased by 3%, though growth in the customer base was partially offset by a 6% decline in average revenue per customer. Expenditures for sales and marketing, research and development, and general administration were 8% to 13% lower than the firm's projections.</p>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>BofA Securities Affirms \"Buy\" Rating on JD Logistics After Strong Q4 Performance</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBofA Securities Affirms \"Buy\" Rating on JD Logistics After Strong Q4 Performance\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036600163\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/b3bf6d02ad1a6e9e7377eebbb162346a);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Stock News </p>\n<p class=\"h-time\">2026-03-09 09:22</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>BofA Securities issued a research report stating that JD LOGISTICS (02618) delivered better-than-expected results for the fourth quarter of last year, driven by a decline in operating expenses. The firm reiterated its \"Buy\" rating with a target price of HK$15. Management expressed optimism regarding the outlook for fiscal year 2026, guiding for revenue growth of 20% to 25% and non-IFRS net profit growth of 25% to 30%. Achieving these targets would imply a 15% to 20% upside to current profit forecasts, exceeding the assumptions of even the most optimistic investors by approximately 10% to 15%. This would equate to a forecasted price-to-earnings ratio of below 7 times for fiscal year 2026.</p>\n<p>JD LOGISTICS reported a non-IFRS net profit of 2.35 billion yuan for the fourth quarter, a 6% year-on-year increase that was 4% higher than the firm's forecast. Revenue and gross profit grew by 22% and 17% year-on-year, respectively, meeting expectations. Revenue from JD.com surged 68% year-on-year, benefiting from the consolidation of food delivery and on-demand delivery businesses. Revenue from external supply chain logistics increased by 3%, though growth in the customer base was partially offset by a 6% decline in average revenue per customer. Expenditures for sales and marketing, research and development, and general administration were 8% to 13% lower than the firm's projections.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK1541","symbol_name":"物流","start_time":0,"source_url":"","article_id":"1186806447","we_media_id":"1036600163","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1186806447","pubTimestamp":1773019352,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Stock News","introduction":"Global Stock News First-Time Broadcast","home_visible":1,"id":"1036600163","head_image":"https://community-static.tradeup.com/news/b3bf6d02ad1a6e9e7377eebbb162346a"},"summary":"BofA Securities issued a research report stating that JD LOGISTICS (02618) delivered better-than-expected results for the fourth quarter of last year, driven by a decline in operating expenses. The...","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"161027":"证券","BK1541":"物流","BK1604":"节假日概念","02618":"京东物流","BK1587":"次新股","BK1502":"双十一","BK1151":"航空货运与物流"},"translate_title":"第四季度业绩强劲后，美银证券确认京东物流“买入”评级","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"161027":1,"02618":1},"content_text":"BofA Securities issued a research report stating that JD LOGISTICS (02618) delivered better-than-expected results for the fourth quarter of last year, driven by a decline in operating expenses. The firm reiterated its \"Buy\" rating with a target price of HK$15. Management expressed optimism regarding the outlook for fiscal year 2026, guiding for revenue growth of 20% to 25% and non-IFRS net profit growth of 25% to 30%. Achieving these targets would imply a 15% to 20% upside to current profit forecasts, exceeding the assumptions of even the most optimistic investors by approximately 10% to 15%. This would equate to a forecasted price-to-earnings ratio of below 7 times for fiscal year 2026.\nJD LOGISTICS reported a non-IFRS net profit of 2.35 billion yuan for the fourth quarter, a 6% year-on-year increase that was 4% higher than the firm's forecast. Revenue and gross profit grew by 22% and 17% year-on-year, respectively, meeting expectations. Revenue from JD.com surged 68% year-on-year, benefiting from the consolidation of food delivery and on-demand delivery businesses. Revenue from external supply chain logistics increased by 3%, though growth in the customer base was partially offset by a 6% decline in average revenue per customer. Expenditures for sales and marketing, research and development, and general administration were 8% to 13% lower than the firm's projections.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.2","shortVersion":"4.36.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1186806447","isCrawlerRequest":true}