Kingwo Financial News | BOC International stated that Jitu Express (01519) disclosed its 2024 performance, achieving total revenue of 10.259 billion USD, a year-on-year increase of 15.9%, mainly due to strong Global parcel volume growth. Adjusted EBITDA reached 0.778 billion USD, a substantial year-on-year increase of 430.5%, significantly enhancing profitability. Net income returned to profitability, with an annual net income of 0.114 billion USD (a loss of 1.156 billion USD in 2023).
The bank is Bullish on the company's domestic business profitability continuing to improve and its overseas market share continuously increasing. The bank adjusted its previous profit forecast, expecting the company's net income attributable to shareholders for 2025-2027 to be 2.728/4.485/6.341 billion yuan, year-on-year growth of +240.1%/+64.4%/+41.4%, with EPS of 0.31/0.50/0.71 yuan/share, corresponding to PE ratios of 19.4/11.8/8.4 times, and maintains a Buy rating for the company.
