Let’s keep it nice and easy today following the release by JD Logistics of its interims on Tuesday.

To borrow a line from analysts at UBS, who released a (short, slightly edited here) note to investors today, the “top line growth printed 22% year-on-year, within the range of 20-25% the company guided earlier” but “slightly below our estimate (UBSe: 22.7%)”.

And the “non-IFRS loss was RMB798m, a bit larger than our estimate of RMB722m”.

Nonetheless, without disclosing a cash flow statement and still absent ...

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