On September 4, JD LOGISTICS rose 3.09% in regular trading, trading at HK$11.34/share, with turnover of approximately HK$63.58 million.

On the news front, JD LOGISTICS recently launched its Super Brain large model 3.0, the industry's first industrial-grade large model applied in the physical world. The system compresses optimal end-to-end routing for hundreds of millions of parcels from minute-level to second-level computation, achieving an automated vehicle dispatch rate of 86%. The model comprises five supply-chain-native industrial large models designed around a complete supply chain loop.

Meanwhile, the company's first-half results showed revenue of RMB 124.68 billion, up 26.5% year-over-year, with attributable net profit of RMB 3.29 billion, up 27.6%. Revenue from external customers grew 29.3%, driven by instant delivery services and express logistics expansion. Average revenue per customer rose to RMB 253,591. CICC maintained its Outperform rating with a target price of HK$19.40, implying significant upside from current levels. Nomura and Jefferies also maintained Buy ratings with target prices of HK$18 and HK$17.50, respectively.

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