JD.com (JD); 9618 HK

[winston]

Stepping up operating investments

JD reported FY20 net revenue of Rmb746bn, up 29.3% yoy, in line with our expectation. Driven by better-than-expected margins, non-GAAP net profit for the year was Rmb16.8bn, up 56.5% yoy, above our expectation.

In FY21F, JD will continue invest in its logistics network, especially in its localized
supply chain and short chain logistics.

Besides logistics, JD’s two main focuses in FY21F are its omni-channel strategy and
marketplace ecosystem.

We expect short-term catalysts for JD to be:-
1) the IPO of JD logistics;
2) its new community group purchase business; and
3) fast growing FMCG product sales.

Reiterate Add with a new DCF-based TP of US$106.70

Source: CIMB

https://rfs.cgs-cimb.com/api/download?f ... 1E4A527D9A

[winston]

vested

JD.com (JD US / 9618 HK) - Focused on growth

JD.com’s (JD) 4Q20 non-GAAP PATMI came in at RMB 2.4b (20% above consensus) while non-GAAP net margin reached 1.1% (vs. consensus at 0.9%).

We were encouraged by the strong annual active customer accounts growth of 30.4% YoY to reach 471.9m in 2020, and note that 80% of new users in 4Q20 came from lower-tier cities.

We note that the merchant renewal rate is now much higher than in the past, which reflects significant improvement in merchants’ satisfaction and recognition of the platform.

On its community group purchase (CGP) business, management highlighted that this is a large market opportunity with highly fragmented supply chains, and that they intend to approach this market by being focused on supply chain and logistics networks by leveraging their own capabilities, rather than acquire users through short-term and aggressive subsidies.

Despite the swift CGP developments by some of its peers, we understand that there has been no significant impact on JD, which management attributes to customer shopping behaviour, mind share and preference for JD’s products.

We believe that share price volatility due to near-term margin pressure from investments would be a good accumulation opportunity, as we see this as a necessary precursor for longer-term growth for the company. BUY.

Source: OCBC

[winston]

vested

Odds Are, This Stock is On Its Way Up

by Louis Navellier

By the end of 2020, it was operating more than 900 warehouses, with a combined floorspace of 21 million square meters.

CNN Money is tracking 43 analysts, and they have JD.com rated as a consensus buy. Their median 12-month target price of $111.10 has nearly 30% upside.

Perhaps most telling of all, the most bearish of the group has a $90 price target. When the analyst who is the most doubtful about a stock still has a price target with 5% upside, that’s a pretty strong indictor of an opportunity.

Source: InvestorPlace

https://dailytradealert.com/2021/03/19/ ... ts-way-up/

[winston]

not vested

JD.com Has A Bright Future As More Than Just An E-Commerce Company

In the fourth quarter, services revenue grew by 53% to $4.9 billion, which is its fastest growth rate in 11 quarters. Although the segment still only generates about 15% of overall revenue, it will turn into high-margin businesses once scale is reached.

Source: IAM Newswire

https://finance.yahoo.com/news/jd-com-b ... 57445.html

[winston]

not vested

JD.com (JD)

Some readers might be surprised to find out that JD.com is larger than Alibaba. But JD.com posted $114.3 billion in revenue in 2020, while Alibaba posted $71.99 billion.

Both companies are massive and post significant revenues. But despite those impressive numbers, both companies’ stocks are suffering.

China’s regulatory push to reign in its tech giants hasn’t spared this company either. JD has listed several of its business arms including JD health. It also had been planning to list JD digits, its fintech arm, since earlier in the year. However, it withdrew the planned IPO on April 2, amid increasing regulatory concerns.

China is clamping down on its tech sector and doesn’t look to be letting up. The government appears to be dead set on rooting out monopolistic practices in those businesses.

It showed that Ant Group couldn’t simply flout banking conventions by virtue of its fintech status alone. Now, it appears the effects are resonating throughout several prominent Chinese companies.

Source: Investor Place

[winston]

JD.com (JD US)
Year Of Investment Focusing On FMCG, CGP And Fulfilment In Lower-Tier Cities

According to JD’s management, the FMCG and CGP categories will continue to be the
main focus for the year.

We forecast 1Q21 revenue to grow 30% yoy due to solid usergrowth through the expansion of the FMCG and grocery formats coupled with the low base in 1Q20.

We estimate the 1Q21 net margin to be 1.8% ower than the 2% in 1Q20, as FMCG and grocery sales offer lower margins.

We maintain BUY and lower target price to US$102.00 (HK$396.00) from US$110.00.

Source: UOBKH

https://research.uobkayhian.com/content ... c6a235f55f

[winston]

not vested

Stock To Sell: JD.com Inc. (NASDAQ: JD)

JD is a China-based e-commerce company trading 28% off its February high following a strong 2020 performance.

Aside from geopolitical tensions, shares are now testing the critical $75 per share area and are below major moving averages.

In fact, the 50-day average appears on track to cross below the 200-day average in what many chart watchers call a “death cross.”

All signs point to a downside target of $60 per share as the current bearish trend continues.

Source: Money Morning

[winston]

not vested

May 12, 2021

<Research Report>Ratings & TPs on JD-SW (09618.HK) (Table)

JD-SW (09618.HK)(JD.US) is releasing 1Q21 results next Wednesday.
Please refer to a separate table for results foresight.

On JD-SW (09618.HK):

Brokers│Ratings│TPs (HK$)
DBS│Buy│563
Credit Suisse│Outperform│431
Jeffereies│Buy│426
Daiwa│Buy│425
JPMorgan│Overweight│410
UOB Kay Hian│Buy│396
CCB International│Outperform│395.8
Nomura│Buy│378

---------------------------
On JD.com (JD.US):

Brokers│Ratings│TPs (US$)
DBS│Buy│145
Citigroup│Buy│115
Credit Suisse│Outperform│110
Jefferies│Buy│110
Daiwa│Buy│110
UBS│Buy│105
JPMorgan│Overweight│105
UOB Kay Hian│Buy│102
CCB International│Outperform│102
CICC│Outperform│98
Morgan Stanley│Overweight│89

Source: AAStocks Financial News

[winston]

not vested

May 12, 2021

<Result Foresight>Brokers See JD-SW 1Q21 Non-GAAP NP +19%, Focus on Regulatory, GPM Guidance

JD-SW (09618.HK) (JD.US) will unveil 1Q21 results on 19 May after HKEX-trading hours and before US market open.

The market expected the firm's GPM to be affected by increased group community-buying investment, higher sinking market penetration, and more post-Covid promotion expenses.

According to brokers' forecast as compiled by our reporters, the firm's 1Q21 non-GAAP net profit may range RMB3.21-4.041 billion, up 8%-36% YoY. The median estimate is RMB3.549 billion, up 19.4% YoY.

Investors were anticipating JD-SW management's latest regulatory and business guidance.

----------------------------------------------------

Brokers│1Q21 Non-GAAP NP (RMB)│YoY Change
Nomura│4.041B│+36%
Credit Suisse│3.82B│+28.5%
JPMorgan│3.789B│+27.5%
UBS│3.784B│+27.3%
CICC│3.625B│+22%
BOCOMI│3.613B│+21.6%
CITIC Securities│3.549B│+19.4%
CCBI│3.448B│+16%
GTJA Securities│3.309B│+11.3%
Shenwan Hongyuan│3.3B│+11%
Morgan Stanley│3.245B│+9.2%
Daiwa│3.21B│+8%

Based on 1Q20 non-GAAP net profit of RMB2.972 billion.

Source; AAStocks Financial News

[winston]

not vested

E-commerce giant JD.com beats first-quarter revenue estimates as Covid-19 boom persists

The Beijing-based online retail services provider’s first-quarter revenue totalled US$31.57 billion, up 39 per cent from a year ago

The company benefited from new partnerships with a wide spectrum of luxury brands in the same period

The firm’s net income rose to 3.6 billion yuan, up from 1.1 billion yuan a year earlier.

JD.com’s annual active customer accounts reached 499.8 million in the 12 months ended March 31, up 29 per cent from 387.4 million in the previous 12-month period.

Source: SCMP

https://www.scmp.com/tech/big-tech/arti ... -estimates