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<Research>CLSA Estimates JD HEALTH 3Q Rev. to Grow 25% YoY, Raises TP to HKD66
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16
Positive
13
Negative
7
CLSA has issued a research report anticipating that JD HEALTH (06618.HK), driven by original drugs and chronic disease medications, will maintain a YoY growth of over 30% in drug sales for 3Q25, while health products will sustain a YoY increase of over 20%. Accordingly, the company's total revenue for 3Q25 is expected to increase by 25% YoY to RMB16.6 billion.

In addition, JD HEALTH plans to add 200 stores in 2H25, but only 50 were opened in 3Q25, which may lift the adjusted EBIT by over 40% YoY to RMB1.2 billion.

CLSA elevated its target price from HKD64 to HKD66 and reiterated the Outperform rating.
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