Re: JD.com (JD); 9618 HK
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JD.com (9618 HK)
1Q24: Solid Earnings Beat; High Single-digit Revenue Growth On Track
JD’s 1Q24 revenue grew 7% yoy to Rmb260b, slightly better than our and consensus estimates.
Gross profit margin improved 47bp yoy to 15.3% in 1Q24.
Non-GAAP operating profit rose 11% yoy to Rmb9b, translating to non-GAAP operating profit
margin of 3.5%.
Non-GAAP net profit came in at Rmb8.9b, beating our and consensus expectations, as a result of streamlining of operations.
Adjusted net margin was 3.4%.
Maintain BUY with a higher target price of HK$151.00 (US$40.00).
Source: UOBKH
https://research.uobkayhian.com/content ... e=hs_email
1Q24: Solid Earnings Beat; High Single-digit Revenue Growth On Track
JD’s 1Q24 revenue grew 7% yoy to Rmb260b, slightly better than our and consensus estimates.
Gross profit margin improved 47bp yoy to 15.3% in 1Q24.
Non-GAAP operating profit rose 11% yoy to Rmb9b, translating to non-GAAP operating profit
margin of 3.5%.
Non-GAAP net profit came in at Rmb8.9b, beating our and consensus expectations, as a result of streamlining of operations.
Adjusted net margin was 3.4%.
Maintain BUY with a higher target price of HK$151.00 (US$40.00).
Source: UOBKH
https://research.uobkayhian.com/content ... e=hs_email