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<Foresight>UBS Forecasts for JD-SW (09618.HK)'s 4Q25 Results (Table)
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UBS released a report in mid-January outlining its forecast for JD-SW (09618.HK)'s 4Q25 results:

Results Breakdown│4Q25 Forecast│YoY Change
Total Revenue│RMB348.506 billion│+0.4%
Non-GAAP Operating Profit│Loss of RMB4.176 billion│Profit to Loss
JD Retail Operating Profit│RMB7.388 billion│-26.4%
JD Logistics Operating Profit│RMB1.2 billion│-34.2%
Other Operating Loss│RMB12.764 billion│Expanded by 13.42x
Non-GAAP Operating Profit Margin│-1.2%│-4.2 ppts
Non-GAAP Loss attributable to Shareholders│RMB289 million│Profit to Loss

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