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<Research>CICC: JD.com (JD.US) TP Cut to US$48 Despite Better-than-expected 1Q Results
Recommend 20 Positive 22 Negative 16 |
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JD-SW (09618.HK)(JD.US)'s 1Q25 revenue rose 15.8% YoY, beating market consensus by 3.7%, CICC released a research report saying. Non-GAAP net profit inclined 43% to RMB12.8 billion, significantly beating the market consensus by 23%, with a non-GAAP net profit margin of 4.2%. Due to JD-SW's expanding losses from new businesses, CICC lowered its 2025/ 2026 non-GAAP net profit forecasts for the Group by 13%/ 10% to RMB43.1 billion/ RMB53.9 billion respectively. Therefore, the broker kept rating at Outperform for the Group, but cut its target price for JD-SW's US stock by 12% to US$48. AAStocks Financial News Website: www.aastocks.com |
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