JD.com (JD), 9618 HK; 02 (Mar 23 - Dec 26)

[winston]

vested

JD.com (9618 HK) 3Q24: Solid Earnings Beat;

Key Proxy For Benefits From Trade-in Programme JD’s 3Q24 revenue rose 5% yoy to Rmb260.4b, in line with our and consensus estimates.

Gross profit margin improved 1.7ppt yoy to 17.3% in 3Q24.

Non-GAAP operating profit rose 17% yoy to Rmb13b, translating to a non-GAAP operating profit margin of 5%.

Non-GAAP net profit grew 24% yoy to Rmb13.2b and EPS increased 30% yoy, beating our and consensus estimates by 17%.

Adjusted net margin jumped 1ppt yoy to 5%.

Maintain BUY with a target price of HK$197.00 (US$52.00).

Source: UOBKH

https://39646150.fs1.hubspotusercontent ... (9618%20HK)%20241115.pdf?utm_medium=email&_hsenc=p2ANqtz-92h6rvJEGrRTuqngJsyJRw7WaKgdmJ_KoLon1bqDhWyn8yVGlPjAssc-9ruwUJqDLsiA8ZQt7fSe2WGFZpf6abIRe8Ng&_hsmi=334046719&utm_content=334046719&utm_source=hs_email

[behappyalways]

Super powerful in carrying goods!
JD.com boss "Liu Qiangdong" live broadcasts his debut show.
It is difficult to tell whether it is real or fake!
JD.com boss's AI avatar "Purchasing and Marketing Dong Ge" is online
帶貨力超強! 京東老闆"劉強東"直播處女秀 真假難辨! 京東老闆AI分身"採銷東哥"上線│記者 劉玨妤│國際焦點20250109│三立新聞
https://m.youtube.com/watch?v=JFl5iL8iSIA&t=10s


Liu Qiangdong returned to his hometown and handed out hundreds of millions of red envelopes, cash transport vehicles and armed banknote protection.
Born in poverty, Liu Qiangdong never forgot his roots.
Liu Qiangdong sent money to give back to his hometown.
劉強東返鄉發上億紅包 運鈔車.武裝護鈔 出身貧困不忘本 劉強東發錢回饋故鄉│記者 蔡孟廷│國際焦點20250109│三立新聞台
https://m.youtube.com/watch?v=BA_4x2sTF9M

[winston]

vested

4Q24 Preview: Strong Growth Outlook;

JD To Lead In 2025 Trade-in Programme

JD lifted 4Q24 top-line growth guidance to 9% yoy from 6% yoy, better than our expectations.

JD also saw strong user growth and GMV growth in 4Q24 as it is well positioned to capture the continuation of the trade-in programme.

This bodes well with JD’s continuous ROI-focused investment in its user-centric strategy and supply chain efficiency to boost earnings growth.

Maintain BUY with a higher target price of HK$200.00 (US$52.00).

Source: UOBKH

https://research.uobkayhian.com/content ... e=hs_email

[winston]

<Research>JPM Expects JD-SW (09618.HK) 4Q24 Adj. NP to Rise 13% YoY, 1-3Q25 Rev. to Hike 6-7%

JD-SW (09618.HK) 's share price slumped 5%/ 9% in the past 1 month/ 3 months, slightly underperforming the MSCI China Index over the same period, but outperforming Chinese e-commerce peers, JPMorgan released a research report saying.

JPMorgan believed that its revenue growth will see a better-than-expected boost from trade-in policies, and that its margin will be more resilient than expected due to its disciplined investment.

The broker maintained its target prices at US$50/ $200 for JD-SW's US stock/ H-shares each, with ratings at Overweight.

Based on the target price, the Company's valuation is equivalent to a projected 2025 PE ratio of about 11x (the current share price is equivalent to only 8x).

JPMorgan forecasted JD-SW's 4Q24 revenue to grow 9.5% YoY, beating market consensus by 3%.

Adjusted net profit is estimated to rise 13% YoY, with an adjusted net margin of 2.8%, as demand driven by the trade-in policy eases JD-SW's spending needs and it is observed that JD-SW's investments remained highly disciplined.

JPMorgan predicted JD-SW's revenue will hike 6-7% YoY in 1Q25-3Q25 before slowing to 2% in 4Q25 on a high base, with double-digit YoY growth in adjusted EPS.

The broker believed that the market consensus has not yet reflected JD-SW's policy dividends and disciplined investment.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN