JD Logistics Inc

02618: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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JD Logistics: Fair Value Maintained Despite One‑Off Inventory Loss and Near‑Term Earnings Revisions

Chelsey Tam

Jan 27, 2026

A theft occurred at JD Logistics' warehouse in France in December 2025. Management said the loss was significantly lower than the EUR 37 million reported in media such as Le Figaro. We also reviewed the performance of Deppon and Kuaye, as well as external business volume, in fourth-quarter 2025.

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JD Logistics Inc

JD Logistics: Fair Value Maintained Despite One‑Off Inventory Loss and Near‑Term Earnings Revisions

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