CLSA released a research report predicting that JD-SW (09618.HK) -0.200 (-0.163%) Short selling $256.67M; Ratio 14.094% (JD.US) 's 2Q25 revenue will hike by 15.9% YoY to RMB338 billion, primarily benefiting from the strong performance at the "618" shopping festival. Driven by trade-in subsidy policies and traffic growth, sales of electronics and general merchandise are expected to achieve double-digit incline. Adjusted EBIT for 2Q25 is also estimated to decline by 66% YoY to RMB4 billion, mainly due to potential losses from new businesses such as food delivery, which may expand to RMB10 billion.Related NewsCiti Estimates HK Stablecoin Mkt Size at ~USD16B, +/- USD8B upon Different InstrumentsCLSA lowered its 2025/ 2026 adjusted net profit forecasts for JD-SW by 41%/ 21% each, and dropped its target price for JD-SW's US stock from US$45 to US$41, with rating kept at Outperform.(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-08-01 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)