UBS has released a research report stating that JD LOGISTICS (02618) second-quarter results generally met expectations. Revenue growth surprised the market with a year-over-year increase of 17%, while earnings aligned with expectations, though the non-IFRS net profit margin of 5% fell slightly short of expectations.

The firm indicated that due to the company's optimistic outlook, it has raised its financial forecasts, expecting the company's revenue to grow 16% this year, while non-IFRS net profit is projected to rise 6.5%. Additionally, the firm has upgraded the company's target price from HK$17.4 to HK$18, maintaining its "buy" rating.

UBS noted that JD LOGISTICS management has greater confidence in achieving full-year growth targets, specifically aiming for double-digit growth in total revenue and mid-single-digit growth in non-IFRS net profit. Management also considers the potential contribution from its newly launched food delivery service, expecting full-year revenue growth to potentially exceed market expectations.