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<Research>JPM Fine Tunes JD-SW (09618.HK) Rev. Forecast to 4% YoY Rise This Yr on Non-Electronics Growth Momentum
Recommend 28 Positive 41 Negative 11 |
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JPMorgan's research report covered JD-SW (09618.HK), which was forecast to post a 2% YoY revenue increase in 4Q25, slightly better than the 1% forecasted by the broker at the end of 2025. The latest outlook on BABA-W (09988.HK)'s core e-commerce revenue for 4Q25 suggested that the pressure on JD's comprehensive goods and platform marketing revenue is lower than expected. During the period, it is forecasted that this segment's revenue will grow by over 10% YoY, and JD's adjusted net profit will still be approximately RMB1 billion. JPMorgan fine tuned JD's revenue forecast for 2026 to a 4% YoY growth, on the momentum of its non-electronics/ home appliance revenue. However, it trimmed the adjusted EPS by 9% to reflect Alibaba's commitment to quick commerce market share and JD's plan to ramp up its international business development, primarily in Europe's Joybuy. AASTOCKS Financial News Website: www.aastocks.com |
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