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<Foresight>Brokers Expect JD-SW 1Q Non-GAAP NP to Fall 2%+; Focus on Rev. Growth, Margins
Recommend 9 Positive 15 Negative 3 |
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JD-SW (09618.HK) will release its 1Q24 results after the market closes next Thursday (16th). The market expected that JD Retail has gradually overcome the impact of business adjustments. With the sales of electrical products and daily necessities normalize, GMV and revenue are estimated to recorded positive growth, but operating margins will still be under pressure to reflect the impacts from measures like Spring Festival Gala marketing campaign, etc.. JD-SW's 1Q24 non-GAAP net profit attributable to ordinary shareholders of the Company will range from RMB6.881 billion to RMB8.266 billion as forecasted by 14 brokers summarized by our reporters, down 9.5%/ up 8.8% YoY from RMB7.6 billion in the same period of 2023. The median was RMB7.413 billion, down 2.2% YoY. Investors will be concerned about the latest operational guidelines and strategies of JD-SW's management, including the growth in JD APP monthly active users, how to improve consumer experience and optimize the platform's shopping scene, etc., as well as how shopping scenes such as live stream and short video can increase its room for performance improvement. ---------------------------------------------- Broker│1Q24 Non-GAAP Net Profit Attributable to Ordinary Shareholders of the Company (RMB)│YoY Change Nomura│8.266 billion│+8.8% ICBCI│7.708 billion│+1.4% BOCOMI│7.674 billion│+1% Daiwa│7.637 billion│+0.5% CICC│7.511 billion│-1.2% CLSA│7.431 billion│-2.2% Morgan Stanley│7.426 billion│-2.3% Huatai Securities│7.4 billion│-2.6% BOCI│7.249 billion│-4.6% CCBI│7.218 billion│-5% Shenwan Hongyuan│7.14 billion│-6.1% Jefferies │7 billion │-7.9% Haitong International│6.969 billion│-8.3% Citi│6.881 billion│-9.5% Based on JD-SW's 1Q23 non-GAAP net profit attributable to the Company's ordinary shareholders of RMB7.6 billion AAStocks Financial News |
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