JD-SW (09618.HK) -5.600 (-3.955%) Short selling $172.73M; Ratio 12.549% is set to announce its 1Q25 results after the Hong Kong market closes today (13th). Benefiting from the extension and expansion of the trade-in subsidy program to categories such as handsets and 3C electronics, the company's GPM may grow on the back of direct government subsidies for self-operated home appliances and other products.Based on the forecasts from 16 brokers as consolidated by our reporters, JD-SW's 1Q25 net profit attributable to ordinary shareholders under non-GAAP is expected to range RMB9.846-11.47 billion, compared to RMB8.899 billion in the same period last year, representing a YoY increase of 10.6-28.9%. The median of RMB10.647 billion also marks a YoY growth of 19.6%.Related NewsBOCI Expects Southbound Capital Net Inflow into HK Stocks to Reach RMB1.2T This Yr, Calls for Attention to Actively Traded Stocks Like BABA-W/ OthersJD-SW recently launched "instant deliveries" to challenge MEITUAN-W (03690.HK) -2.800 (-2.009%) Short selling $569.36M; Ratio 19.875% 's "instant purchases". Investors are closely watching JD-SW's management for their views on industry competition and strategic guidance for related businesses, and whether the group will lower its full-year earnings guidance due to investments in the food delivery business.Broker │ Forecast for 1Q25 Non-GAAP NP Attributable to Ordinary Shareholders │ YoY ChangeBOCOMI │ RMB11.47 billion │ +28.9%CICC │ RMB11.402 billion │ +28.1%Huatai Securities │ RMB11.2 billion │ +25.9%Nomura │ RMB11.099 billion │ +24.7%BofA Securities │ RMB11 billion │ +23.6%UBS │ RMB10.755 billion │ +20.9%Daiwa │ RMB10.706 billion │ +20.3%Morgan Stanley │ RMB10.694 billion │ +20.2%Jefferies │ RMB10.6 billion │ +19.1%Goldman Sachs│RMB10.502 billion│+18%CCBI │ RMB10.253 billion │ +15.2%HSBC Global Research │ RMB10.245 billion │ +15.1%CLSA │ RMB9.966 billion │ +12%Citi │ RMB9.911 billion │ +11.4%Shenwan Hongyuan │ RMB9.88 billion │ +11.0%China Renaissance │ RMB9.846 billion │ +10.6%Calculated based on the company's 1Q24 non-GAAP net profit attributable to ordinary shareholders of RMB8.899 billion.(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-05-15 12:25.)