Macquarie released a report, estimating that JD-SW (09618.HK) 0.000 (0.000%) Short selling $551.35M; Ratio 28.479% 's 1Q24 results are likely to be in line with forecast. The broker expected JD's retail revenue to grow 6.2% YoY to RMB257.9 billion. Taking into account the improved profitability of other non-core divisions such as JD LOGISTICS (02618.HK) 0.000 (0.000%) Short selling $4.34M; Ratio 5.193% , the group's 1Q24 adjusted operating profit may reach RMB8.7 billion, implying a slight expansion of 10 bps in adjusted operating margin to 3.3%.JD is enlarging its investment in its content ecosystem, aiming to increase customer engagement and stickiness, the report said. The broker trimmed its earnings estimates for JD, lowering its net profit estimates by 3% and 1% for FY2024 and FY2025, respectively. The broker maintained a Neutral rating and lowered its TP for the H-shares from HK$105 to HK$103.(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-04-29 16:25.)Related NewsG Sachs Reinstates JD.com (JD.US) at Buy, as Revenue Growth Recovers