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<Research>CMBI Expects JD.com (JD.US) 2Q Adj. NP to Drop 68% YoY, Cuts TP to US$50
Recommend 6 Positive 8 Negative 8 |
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CMBI released a research report predicting that JD-SW (09618.HK)(JD.US) will see a 15.8% YoY increase in 2Q25 revenue to RMB337.4 billion, 2% ahead of market consensus. However, due to increased investment in the food delivery business during the period, it is expected to have a negative impact of approx. RMB10 billion on net profit. Currently, its non-GAAP net profit is forecasted to decline by 68% YoY to RMB4.6 billion. CMBI maintained its 2025-2027 revenue forecasts for JD-SW unchanged, but lowered its non-GAAP net profit forecasts by up to 48% to reflect the higher-than-expected investment in the food delivery business. Therefore, the broker cut its target price by 9% to US$50, with rating kept at Buy. AASTOCKS Financial News Website: www.aastocks.com |
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