Morgan Stanley issued a research report stating that JD LOGISTICS (02618) has signed a business transfer agreement with JD.com-SW (09618), planning to acquire its local instant delivery service business for approximately US$270 million. The acquisition includes the complete equity of Dajiang Network Technology (Shanghai) Co., Ltd. and Dasheng (Hong Kong) Investment Co., Ltd. The investment bank views this acquisition as slightly positive, considering the target company's steady revenue growth and attractive valuation compared to on-demand delivery peers. JD LOGISTICS expects the acquisition to contribute over 10% to revenue growth post-completion, though Morgan Stanley believes the short-term profit contribution will be minimal. Morgan Stanley has set a target price of HK$13 for JD LOGISTICS with an "in-line" rating.