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<Research>Citi: JD-SW (09618.HK) Sets New Record High GMV for Double 11
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The 2025 Double 11 shopping festival quietly concluded without any specific spark from main platforms, Citi Research issued a research report saying. As expected, JD-SW (09618.HK)(JD.US) announced a new record high GMV for this year's Double 11. Although the actual figures or growth rates were not disclosed, it was emphasized that the number of buyers increased by 40% and the order volume grew by 60%. This year, digital electronic products related to AI performed well, with sales of AI tablets/ large-screen AI phones/ AI glasses & speakers inclining by 200%/ 150%/ 100% YoY respectively. In the first month of JD-SW's food delivery service launch, the average daily order volume for the top 300 partner restaurant brands surged 13x. JD-SW also emphasized global sales and AI application achievements during Double 11, the report added. With the 3Q results to be released on 13 November, the broker looked forward to management further elaborating on Double 11 performance and 4Q25 outlook. AASTOCKS Financial News Website: www.aastocks.com |
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