crashbandicoot4it'sabouttime| Changes in Hong Kong stocks| Jitu Express-W(01519) rose more than 13% intraday trading, which rose more than 45% this month, Jitu received tens of millions of dollars in capital increase from a Middle East consortium
Zhitong Financial APP learned that Jitu Express-W(01519) rose more than 13% intraday and rose more than 45% this month. As of press time, it rose by 6crashbandicoot4it'sabouttime.99%, at HK$8.57, with a turnover of HK$191 million.
On the news front, on May 8, Jitu Express announced that it had completed an important milestone. Yi Da Capital and the Middle East consortium jointly invested tens of millions of dollars in cooperation with it.crashbandicoot4it'sabouttimecapital increase. In addition to introducing Middle East consortiums, the strategic upgrade of Jitu's Middle East localization strategy focuses on listing on the Saudi Stock Exchange in the next stage of strategic planning.
BOC International stated in its research report that Saudi Arabia's express logistics has high entry costs and experience barriers, and Jitu implements localization strategies to adapt to the Middle East market. In February 2024, Jitu Express ranked second in order volume in the industry, with local customers accounting for more than 30%, showing strong growth momentum and market acceptance, laying a solid business foundation for its listing in Saudi Arabia. The bank pointed out that this capital increase will help Jitu deepen its international layout and accelerate the company's penetration into the Middle East market.
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