UOB Kay Hian’s research report wrote that JD-SW (09618.HK) -4.000 (-2.954%) Short selling $78.18M; Ratio 6.771% (JD.US) delivered 1Q25 results beat, with non-GAAP net profit climbing 43% YoY. The broker maintained its Buy rating on the group but lowered its target price from HKD220 to HKD185.The report highlighted that JD was sweetened by trade-in subsidy programs, prompting the broker to raise its 2Q25 revenue forecast by 2% and its full-year 2025 forecast by 1%, projecting YoY growth of 12% and 11%, respectively.Related NewsCCBI Chops JD-SW (09618.HK) TP to $191.1, Cuts Earnings Forecasts to Reflect Food Delivery InvestmentUOB Kay Hian also increased its 2Q25 and full-year non-GAAP net profit forecasts by 4% and 1%, respectively. The broker forecast JD’s adjusted net profit for 2025 to lift 10% YoY.(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-05-16 12:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)