Polar Rabbit Express-W (01519) rose more than 13% in the intraday period and climbed more than 45% this month. As of press release, it rose 6.99% to HK$8.57, with a turnover of HK$191 million.
The Zhitong Finance App learned that Jitu Express - W (01519) rose more than 13% intraday and increased by more than 45% this month. As of press release, it rose 6.99% to HK$8.57, with a turnover of HK$191 million.
According to the news, on May 8, J&T Express announced that it had completed an important milestone. Yida Capital and the Middle East Foundation joined hands to increase its capital by tens of millions of dollars. In addition to introducing the Middle East consortium, the next phase of GeRabbit's Middle East localization strategy upgrade focuses on listing on the Saudi Stock Exchange.
Bank of China International said in a research report that Saudi express logistics has high entry costs and experience barriers, and Jitu is implementing a localization strategy to adapt to the Middle East market. In February 2024, Jitu Express ranked second in the industry in order volume, accounting for more than 30% of local customers, showing strong growth momentum and market acceptance, laying a solid business foundation for its listing in Saudi Arabia. The bank pointed out that this capital increase will help Jitu to deepen its international layout and accelerate the company's penetration into the Middle East market.