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JD-SW Opens 2% Lower as 2Q Non-GAAP NP Beats, UBS Says Core Performance Strong
Recommend 3 Positive 14 Negative 8 |
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JD-SW (09618.HK) opened 2% lower this morning (15th) at $122.6, with a pre-market trading volume of 360,400 shares, involving $44.3218 million. JD-SW's US stock, JD.com (JD.US), closed down 2.9% to US$31.58 overnight (14th). The Group's 2Q non-GAAP net income attributable to ordinary shareholders fell 48.9% YoY to RMB7.394 billion, beating market expectations. Non-GAAP diluted net income per ADS was RMB4.97. 2Q revenue amounted to RMB356.7 billion, up 22.4% YoY, ahead of market expectations. JD-SW's 2Q core performance was strong, with growth in 3C electronics and home appliances beating expectations, UBS said. JD Retail's profit margin reached a record high of 4.5%, also beating forecast. Following the strong 2Q performance, market attention is on growth momentum in 3Q and 4Q due to the high base. In the fiercely competitive food delivery market, how management balances investment and group profits are a key focus of the market. Therefore, UBS rated JD.com at Buy, with a target price of US$50. AASTOCKS Financial News Website: www.aastocks.com |
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