《Big Bank Watch》Citi Maintains J&T Express (01519.HK) at a “Buy” Rating, Expects Solid Performance in the Period

Citi issued a research report saying that J&T Express (01519.HK) +0.090 (+0.950%) recorded short selling of $58.6 million, with a ratio of 20.204%. The company’s operating performance was steady in the second quarter: total parcel volume increased 24.2% year-on-year, including growth of 63.2%, 10.6% and 136.5% in Southeast Asia, China and other markets, respectively. Despite a slightly higher base and a sharp surge in oil prices during the period, the Southeast Asia market still recorded 63.2% year-on-year growth, slightly exceeding the bank’s expectations, mainly driven by major clients increasing investment in the region and J&T continuing to gain market share. Management believes the impact of rising oil prices on regional parcel volume performance is limited, as fuel costs account for only a small portion of total costs, and multiple measures have been taken to control the impact.

For the China market, parcel volume grew 10.6% year-on-year during the period, compared with the full-year growth guidance of 10%. Citi believes the performance is resilient. Together with peers’ potential profitability in the China market, it expects solid performance in the first half, kicking off a positive near-term outlook, and maintains a “Buy” rating with a target price of 15 yuan. (gc/u)(Hong Kong stock quotes are delayed by at least fifteen minutes. Short selling data as of 2026-07-08 12:25.) Related content 《Big banks》Citi: China internet sector is the best performer so far this year; expects significantly intensified competition in China’s AI market next year.