JD.com (JD); 9618 HK

Re: JD.com (JD); 9618 HK

Postby winston » Thu Jul 23, 2020 3:13 pm

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Jun 19, 2020

<Research Report>G Sachs Initiates JD-SW (09618.HK) at Buy with $273 TP

Goldman Sachs initiated JD-SW (09618.HK) at Buy, with a 12-month target of $273.

The broker's JD Retail valuation was based on a 22X 2021-22E NOPAT.

The firm's retail unit has scale advantage and clear margin expansion strategy through advertising and JD Logistics.

JD-SW's GMV ballooned 34% YoY to RMB269.2 billion between 1-18 June, the fastest growth since 2017.

Source: AAStocks Financial News
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Re: JD.com (JD); 9618 HK

Postby winston » Fri Jul 24, 2020 3:12 pm

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<IPO News>JD-SW (09618.HK) Mulls Spinning off Health Arm for At Least US$1B HK IPO: Wire

JD-SW (09618.HK) plans to spin off JD Health for Hong Kong IPO to raise at least US$1 billion, which may be completed as soon as end-2020 or early-2021, IFR reported.

Source: AAStocks Financial News
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Re: JD.com (JD); 9618 HK

Postby winston » Sat Jul 25, 2020 9:14 pm

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JD.com to spin off online health platform in HK

According to Reuters IFR, JD.com (9618) is planning to spin off its online medical consulting e-commerce platform for pharmaceutical products platform, JD Health, to list in Hong Kong, raising at least US$1 billion (HK$7.8 billion).

JD.com has spin-off JD health May last year for sole operation. This the third largest strategic sole business following JD Logistics.

Aiming to cultivate unicorns of medical enterprises, the business scope covers medical e-commerce, online medical treatment, smart hospital solutions, health services, etc.

According to reports, JD Health completed a US$931 million ( HK$7.26 billion) series A financing last year.

Investors include CPEChina Fund, China Capital Investment, and Baring Asia, etc., with a valuation of US$7 billion.

Source: The Standard

https://www.thestandard.com.hk/breaking ... form-in-HK
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Re: JD.com (JD); 9618 HK

Postby winston » Tue Jul 28, 2020 3:05 pm

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Nomura Initiates JD-SW (09618.HK) at Buy, TP $287

Nomura initiated JD-SW (09618.HK) at Buy, with a $287 target.

Nomura modeled JD-SW's 2Q20E revenue growth at 27% YoY, around 1% above consensus and accelerating from the 21% growth in 1Q.

The broker attributed this to a 34% YoY GMV spike during the 18 June promotion.

Source: AAStocks Financial News
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Re: JD.com (JD); 9618 HK

Postby winston » Wed Aug 05, 2020 8:36 pm

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Overvalued Stocks to Avoid: JD.com (JD)

JD stock has been in a steady uptrend having delivered 113% returns in the last one year. I believe that a correction is inevitable considering the stock valuation.

JD stock currently trades at a price-to-earnings-ratio of 51x. Alibaba (NYSE:BABA), which is a close peer of JD.com currently trades at a P/E of 24x.

JD.com is likely to deliver higher earnings growth in the coming years as compared to Alibaba Group. However, at the current P/E, the stock is overvalued in the near-term.

Talking about the long-term outlook, I would advise exposure to JD stock on any potential correction.

For the first quarter of 2020, the company reported 20.7% top-line growth. Importantly, the company has been delivering strong operating and free cash flows. This gives the company flexibility for aggressive investment driven growth.

Another factor to like about JD.com is that the company possibly has the best logistics network in China among e-commerce players. With expansion in lower tier cities, the company stands to benefit.

Its worth noting that JD.com does not currently pay dividends. However, the company reported positive free cash flows in four of the last five years. Once dividends start flowing, the company is likely to be revalued.

Overall, JD stock rightfully belongs among the overvalued stocks you should watch out for. But that’s in the near-term. It’s still worth keeping on your investment radar.

Source: Investor Place
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Re: JD.com (JD); 9618 HK

Postby winston » Tue Aug 18, 2020 8:03 am

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JD.com delights with revenues of 201b yuan

by Avery Chen

JD.com (9618) reported second-quarter revenue that exceeded estimates, alongside investment from Hillhouse Capital, after China's second-biggest online retailer benefited from a rise in its online marketplaces spending.

The company said yesterday its JD Health division would receive more than US$830 million (HK$6.47 billion) from Hillhouse, the investment firm founded by Zhang Lei, through the purchase of Series B preference shares.

JD reported revenue in the three months ended June rose 34 percent to 201.05 billion yuan (HK$201.05 billion), beating the 190.7 billion yuan average of analyst estimates.

Source: The Standard

https://www.thestandard.com.hk/section- ... -201b-yuan
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Re: JD.com (JD); 9618 HK

Postby winston » Tue Aug 18, 2020 9:41 am

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JD.com (JD US)
2Q20: Posts A Solid Beat Again; Continuous Investments Expected For The Long Run


JD.com reported stronger results in 2Q20.

Revenue came in at Rmb201.1b, up 33.8% yoy, 5.4% higher than the street estimate.

Non-GAAP net profit came in at Rmb5.9b, up 66% yoy, beating consensus estimate of Rmb4b.

2Q20 non-GAAP net margin came in at 2.9% while non-GAAP net margin increased by 0.5ppt to 2.9%, beating our estimates.

We maintain our BUY call and raise our target price to US$76.00 from US$66.00.

Source: UOBKH

https://research.uobkayhian.com/content ... c4f0eabf59
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Re: JD.com (JD); 9618 HK

Postby winston » Tue Aug 18, 2020 12:56 pm

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Brokers' Latest Views, TPs on JD-SW Post Results (Table)

Brokers' ratings and targets on JD-SW (09618.HK) :

Brokers│Ratings│TPs (HK$)
Goldman Sachs│Buy->Buy (Conviction Buy list)│283->329
Jefferies│Overweight│284->304

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

Related NewsBrokers' Latest Ratings, TPs on JD-SW (09618.HK) (Table)

Brokers' ratings and targets on JD.com (JD.US):

Brokers│Ratings│TPs (US$)
Goldman Sachs│Buy->Buy (Conviction Buy list)│73->85
Macquarie│Neutral->Outperform│66->82
Citigroup│Buy│78->81
Jefferies│Overweight│73->78
JPMorgan│Overweight│77
UBS│Buy│67
Morgan Stanley│Overweight│64

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

Brokers│Views
Goldman Sachs│Leader of electronic goods, supermarket supplies, medical retail
Macquarie│Omni-channel strategy brings user, profit growth
Citigroup│Speeds up online buildout, reinforces execution to boost growth
Jefferies│Result driven by strong execution
JPMorgan│Mkt response to result likely positive
UBS│Rev, earnings growth beats significantly
Morgan Stanley│2Q rev growth strong

Source: AAStocks Financial News
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Re: JD.com (JD); 9618 HK

Postby winston » Wed Aug 19, 2020 9:45 am

JD.com Inc
Promising new initiatives to drive future growth


JD reported 1H20 revenue of Rmb347bn, up 28% yoy, and non-GAAP net profit of Rmb8.9bn, up 29% yoy, above our expectations.

JD’s FMCG business continued to acquire new users, increase user stickiness and gain market share in 2Q20, especially in lower-tier cities.

Jingxi and JD Express are the most important new traffic entrances of JD.com, and
contributed a significant number of new users in 1H20.

Leveraging its partnership with Kuaishou, JD will introduce more SKUs to the Kuaishou platform and work closely with Kuaishou on shopping festival promotions and KOL live-streaming daily sales.

We reiterate Add with a new DCF-based TP of US$76

Source: CIMB

https://rfs.cgs-cimb.com/api/download?f ... D712BE91C0
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Re: JD.com (JD); 9618 HK

Postby winston » Wed Aug 19, 2020 11:49 am

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JD.com (JD US / 9618 HK) - Strong 2Q affirms secular growth

JD.com reported another strong set of quarterly results.

Headline sales growth accelerated to 34% y/y on record-breaking 6.18 shopping festival which GMV increase 34% y/y.

Despite substantial promotional activities, non-GAAP EBIT margin expanded 64bps y/y on operating leverage and breakeven of JD Logistics.

As a result, net profits +66% y/y to CNY5.9bn and operating cashflow improved 32% y/y in 2Q20.

JD’s investment in supply chains paid off during the crisis time where its fulfillment capabilities gained consumer confidence.

More than 80% of new users acquired during the quarter coming from lower-tier cities, higher than previous quarters’ 60-70%.

Together with the increased collaboration with offline retail partners and manufacturers, we see the secular market share and margin expansion to continue in next few years.

JD’s superior logistics and supply chain capabilities differentiate from other online players.

While sales growth in 3Q20 is likely to moderate due to the absence of a major shopping festival, the margin expansion trend remains intact given the lower fulfilment costs.

The potential spin-off of JD Logistics and JD Health could also further unlock value. Suggest to accumulate on dip. HOLD.

Source: OCBC
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