JD Logistics, Inc. (2618) AI Stock Analysis

• Market Cap: HK$87.11B
• Dividend Yield: N/A
• Average Volume (3M): 16.45M
• Price to Earnings (P/E): 12.5
• Beta (1Y): 1.34
• Revenue Growth: 11.05%
• EPS Growth: 81.01%
• Country: HK
• Employees: 498,709
• Sector: Industrials
• Sector Strength: 74
• Industry: Integrated Freight & Logistics
• EPS (TTM): 0.38
• Shares Outstanding: 6,655,031,700
• 10 Day Avg. Volume: 21,607,983
• 30 Day Avg. Volume: 16,445,443
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: HK$15.67
• Price Target Upside: 15.82% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3

• Rating: 70 Outperform
• Price Target: HK$15.00 ▲(10.86% Upside)

JD Logistics shows strong financial performance with robust revenue growth and cash flow generation. The technical analysis presents a mixed picture with neutral trends, while valuation metrics suggest reasonable pricing. The absence of earnings call data and corporate events limits further insights, but the company's financial health positions it well for future growth.

Positive Factors

Earnings

Strong 2Q25 results, driven by accelerated revenue growth.

Operational Efficiency

Foreseeable synergies from food delivery business and existing last-mile delivery operations with enhanced efficiency.

Negative Factors

Cost Management

JDL’s recruitment of full-time riders in 2Q25 for JD Food Delivery raises concerns regarding upfront investment and potential cost pressure.

JD Logistics, Inc. Business Overview & Revenue Model

Company Description

JD Logistics Inc., an investment holding company, provides supply chain solutions and logistics services in the People's Republic of China. The company offers warehousing and distribution, express and freight delivery; bulky item, cold chain, and cross-border logistics; and domestic and international transportation and delivery services. It also provides value-added services, such as installment, after-sales and maintenance, logistics technology, and advertising services. The company serves fast-moving consumer goods, home appliances and home furniture, apparel, 3C, automotive, and fresh produce industries. JD Logistics Inc. was incorporated in 2021 and is based in Beijing, the People's Republic of China.

How the Company Makes Money

JD Logistics makes money through a comprehensive revenue model centered around its diverse range of logistics services. The primary revenue streams include fee-based services for warehousing, transportation, and last-mile delivery. The company also earns income from integrated supply chain management services provided to businesses looking to optimize their logistics operations. Additionally, JD Logistics benefits from partnerships with JD.com, handling a significant portion of the e-commerce giant's logistics needs, which contributes to a steady stream of revenue. The company's focus on technology-driven solutions and network expansion further enhances its ability to generate income by improving operational efficiency and expanding service capacity.

JD Logistics, Inc. Financial Statement Overview

Summary

JD Logistics has shown robust revenue growth and significant improvement in profit margins, with net income turning positive. The balance sheet indicates reduced leverage and a stronger equity base, while strong cash flow generation highlights liquidity and operational efficiency. However, there is still room for profitability enhancement and managing leverage.

Income Statement

JD Logistics has shown robust revenue growth from 2019 to 2024, with a significant increase in gross profit margins over the years. The gross profit margin improved from 6.9% in 2019 to 10.2% in 2024. Net income has turned positive, showcasing improved profitability, particularly with a net profit margin of 3.4% in 2024 from negative figures in previous years. EBIT and EBITDA margins have also shown substantial improvement, indicating enhanced operational efficiency. However, the overall net profit margin remains relatively low, hinting at room for profitability enhancement.

Balance Sheet

The balance sheet of JD Logistics demonstrates a stable increase in stockholders' equity, reaching HK$55.3 billion in 2024. The debt-to-equity ratio has decreased over the years, reflecting reduced leverage. The equity ratio improved, indicating a stronger equity base relative to total assets. Return on equity was robust at 11.2% in 2024, marking a turnaround from prior losses. Despite these positive trends, the company still faces moderate leverage, as seen in its debt levels, suggesting potential financial risk.

Cash Flow

JD Logistics has exhibited strong cash flow generation, with operating cash flow significantly increasing over the years. The free cash flow in 2024 was HK$16.5 billion, reflecting strong cash generation capabilities. The operating cash flow to net income ratio is favorable, indicating efficient conversion of profits into cash. Additionally, the free cash flow to net income ratio highlights the company’s ability to generate cash beyond its net earnings. The consistent growth in free cash flow signals a solid cash position.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	182.84B	166.62B	137.40B	104.69B	73.37B
Gross Profit	18.70B	12.68B	10.10B	5.78B	6.29B
EBITDA	11.07B	14.97B	10.08B	-7.12B	1.59B
Net Income	6.20B	616.19M	-1.09B	-15.66B	-4.04B
Balance Sheet
Total Assets	117.87B	112.90B	106.70B	76.80B	54.72B
Cash, Cash Equivalents and Short-Term Investments	43.14B	33.07B	35.43B	28.91B	10.88B
Total Debt	23.17B	27.25B	23.88B	15.28B	12.77B
Total Liabilities	54.90B	57.53B	53.49B	36.41B	57.62B
Stockholders Equity	55.32B	48.16B	46.58B	37.94B	-5.14B
Cash Flow
Free Cash Flow	15.17B	10.87B	8.31B	1.97B	6.98B
Operating Cash Flow	20.79B	16.35B	13.31B	6.21B	10.20B
Investing Cash Flow	-840.45M	-15.10B	-13.11B	-11.12B	-8.77B
Financing Cash Flow	-11.49B	-5.55B	1.48B	16.60B	-3.73B

JD Logistics, Inc. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 13.53
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2618, the sentiment is Positive. The current price of 13.53 is above the 20-day moving average (MA) of 13.27, above the 50-day MA of 13.47, and above the 200-day MA of 13.10, indicating a bullish trend. The MACD of -0.13 indicates Positive momentum. The RSI at 53.50 is Neutral, neither overbought nor oversold. The STOCH value of 39.01 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:2618.

JD Logistics, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
2618	70 Outperform	HK$87.11B	12.45	12.40%	―	11.05%	81.01%
Sector *	64 Neutral	$10.75B	15.58	7.24%	2.01%	2.80%	-14.32%
KRRYF	―	$1.73B	11.16	8.51%	3.08%	―	―
SNOTF	―	$5.55B	8.07	9.96%	6.60%	―	―
2057	73 Outperform	HK$112.97B	12.60	13.91%	3.70%	13.97%	2.03%
2490	71 Outperform	HK$4.57B	9.55	37.50%	4.79%	56.58%	1734.43%
1519	56 Neutral	HK$88.40B	505.61	5.52%	―	12.29%	―

JD Logistics, Inc. Corporate Events

JD Logistics Reports Deppon’s Decline in Profitability Despite Revenue Growth

JD Logistics, Inc. announced the key financial information for its subsidiary, Deppon Logistics Co., Ltd., for the six months ended June 30, 2025. Despite an 11.43% increase in revenue, Deppon experienced a significant decline in profitability, with profit before income tax dropping by 83.64% and net profit attributable to shareholders decreasing by 84.34%. The net loss after deduction of non-recurring profit and loss highlights operational challenges. This financial performance may impact JD Logistics’ market positioning and stakeholder confidence.

The most recent analyst rating on (HK:2618) stock is a Buy with a HK$15.70 price target. To see the full list of analyst forecasts on JD Logistics, Inc. stock, see the HK:2618 Stock Forecast page.

JD Logistics Appoints Yi Hoi Tang as Independent Non-Executive Director

JD Logistics, Inc. has announced the appointment of Mr. Yi Hoi Tang as an independent non-executive director, effective August 14, 2025. Mr. Tang brings a wealth of experience from his previous roles in various companies and public service in Hong Kong, which is expected to enhance the company’s governance and strategic oversight, potentially strengthening its position in the logistics sector.

The most recent analyst rating on (HK:2618) stock is a Buy with a HK$15.70 price target. To see the full list of analyst forecasts on JD Logistics, Inc. stock, see the HK:2618 Stock Forecast page.

JD Logistics Announces Board Composition and Leadership Roles

JD Logistics, Inc. has announced the composition of its board of directors, highlighting the roles and functions of each member. This announcement is significant as it outlines the leadership structure that will guide the company’s strategic decisions and operations, potentially impacting its market positioning and stakeholder relations.

The most recent analyst rating on (HK:2618) stock is a Buy with a HK$15.70 price target. To see the full list of analyst forecasts on JD Logistics, Inc. stock, see the HK:2618 Stock Forecast page.

JD Logistics Reports Strong Revenue Growth in First Half of 2025

JD Logistics, Inc. announced its unaudited consolidated results for the first half of 2025, reporting a 14.1% year-over-year increase in total revenue to RMB98.5 billion. The company achieved accelerated revenue growth by enhancing its capabilities and customer experience, with external customer revenue rising by 10.2% to RMB66.1 billion. Despite a slight decrease in non-IFRS profit margins, JD Logistics improved resource utilization efficiency and maintained steady profit levels, with a non-IFRS profit of RMB3.3 billion, up 7.1% from the previous year.

The most recent analyst rating on (HK:2618) stock is a Buy with a HK$15.70 price target. To see the full list of analyst forecasts on JD Logistics, Inc. stock, see the HK:2618 Stock Forecast page.

JD Logistics to Announce Interim Results in August

JD Logistics, Inc. has announced a board meeting scheduled for August 14, 2025, to approve the unaudited interim results for the company and its subsidiaries for the first half of the year. This meeting and the subsequent conference call are crucial for stakeholders as they provide insights into the company’s financial performance and strategic direction.

The most recent analyst rating on (HK:2618) stock is a Buy with a HK$15.70 price target. To see the full list of analyst forecasts on JD Logistics, Inc. stock, see the HK:2618 Stock Forecast page.

JD Logistics Reports Significant Decline in Deppon Logistics’ Mid-Year Results

JD Logistics, Inc. announced a significant decline in the estimated results for its subsidiary, Deppon Logistics Co., Ltd., for the first half of 2025. Deppon expects a substantial decrease in net profit, with figures ranging from RMB40.40 million to RMB52.40 million, marking a drop of approximately 84.26% to 87.86% compared to the previous year. Additionally, Deppon anticipates a net loss after non-recurring items, indicating a shift from profit to loss. These results highlight challenges faced by Deppon, impacting JD Logistics’ overall financial performance and potentially affecting investor sentiment.

The most recent analyst rating on (HK:2618) stock is a Buy with a HK$15.70 price target. To see the full list of analyst forecasts on JD Logistics, Inc. stock, see the HK:2618 Stock Forecast page.