According to the Zhixin Finance and Economics app, Lalamove-W (01519) rose nearly 4% in the afternoon and was up 2.83% at HKD 7.27 at the time of publication, with a turnover of HKD 23.4474 million.
Lalamove announced that it processed a total of 5.9834 billion packages in the second quarter of 2024, an increase of 30.7% year-on-year, equivalent to a daily average of 65.8 million packages. The total package volume processed in the first half of the year was 11.0149 billion, a year-on-year increase of 38.3%, equivalent to a daily average of 60.5 million packages.
Morgan Stanley's research report stated that GEL Express expanded its overseas markets with China's express industry competitiveness, allowing its international business to grow rapidly. Due to the continuously increasing penetration rate of e-commerce in Southeast Asia and emerging markets, GEL's overseas market share continued to increase, and the company has a good cooperative relationship with Chinese e-commerce companies, which is confident in its growth in overseas markets. At the same time, it believes that the impact of geopolitical tensions is limited.
