该行预计，京东物流利润率进入相对稳定阶段。维持2024年全年收入增长，上调经调整净利润30%至79亿元人民币(下同)，对应利润率4.4%，其中预测第4季经调整净利润/利润率为22亿元/4.4%。预期2025年公司利润率释放进入相对稳定阶段，降本增效措施虽仍有提升空间，公司或将增加一定投入力道拉动收入增长。另外，所得税也将在2025年进入正常缴纳状态。JD Logistics (02618) rose more than 6%. As of press release, it rose 6.21% to HK$15.04, with a turnover of HK$85.1627 million.
The Zhitong Finance App learned that JD Logistics (02618) rose more than 6%. As of press release, it had risen 6.21% to HK$15.04, with a turnover of HK$85.1627 million.
BOC International released a research report saying that JD Logistics's revenue for the 3rd quarter of 2024 was in line with expectations, and profits were significantly better than expected. Revenue increased 7% year over year, with internal revenue/external integration/other external revenue up 8%/1%/8% year over year. The adjusted net interest rate was 5.8%, the highest level in the quarter since listing.
The bank expects JD Logistics's profit margin to enter a relatively stable stage. Revenue growth for the full year of 2024 was maintained, and adjusted net profit was raised by 30% to 7.9 billion yuan (same below), corresponding profit margin of 4.4%. Of these, the adjusted net profit/profit margin for the fourth quarter is predicted to be 2.2 billion yuan/4.4%. The company's profit margin release is expected to enter a relatively stable stage in 2025. Although there is still room for improvement in cost reduction and efficiency measures, the company may increase investment to drive revenue growth. Also, income tax will enter a normal state of payment in 2025.
