JD Logistics Q424 Earnings: Taobao / Tmall Access Fails to Generate Expected Benefits
JD Logistics' Q424 results showed no benefit from almost a full quarter's worth of access to Alibaba's Taobao / Tmall platforms. We believe...
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Monthly Air Cargo Tracker | January: Soft Demand, Low LFs | Ocean Growth > Air Growth (March 2025)
Air cargo demand in January 2025 softened, although some of this may be attributed to timing of the LNY holiday. Air cargo utilization is low (and...
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Quick Update on Asian Air Cargo Trends: No Signs of Market Tightness in These Numbers
Our review of Asian air cargo data aims to uncover investment ideas and potentially provide "read-throughs" to adjacent segments. In the November...
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Monthly Chinese Express Tracker | November Volume, ASPs | Review of YTD Performance (December 2024)
Year-over-year parcel volume growth and price declines both moderated somewhat in November. We believe most Chinese express companies are...
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SF Holdings A/H Trading - Strong Demand but Is Probably Close to Fair Value
S.F. Holding (002352 CH), China’s largest express delivery company, raised around US$860m in its H-share listing in Hong Kong. In this note, we...
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