JD-SW (09618.HK) +1.700 (+1.284%) Short selling $196.38M; Ratio 10.404% (JD.US) 's 1Q24 revenue grew 7% YoY, about 1% ahead the market consensus, while non-GAAP net profit grew 17.2%, over 19% higher than the market's estimation, driven by a better-than-expected gross profit margin recovery pace during the period, Huatai Securities released a research report saying.
The user ecology of JD-SW's retail business continued to improve steadily, and the Group regained its endogenous growth momentum, Huatai Securities said.
The Group's long-term strategy of deepening its offline logistics fulfillment network helped to formulate its one-stop service capability, which, together with the strength of its supply chain, will give the Group a more significant advantage under China's "trade-in" policy.
Huatai Securities slightly revised its 2024-2026 non-GAAP net profit forecasts for JD to RMB37.4 billion/ RMB45 billion/ RMB52.4 billion, from RMB36.5 billion/ RMB45.2 billion/ RMB52.5 billion each, and raised its target price on JD's US stock to US$48.24 from US$44.67, with rating at Buy.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-05-17 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)
