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【Brokerage Focus】 Southwest Securities maintains a "buy" rating for jd.com (09618), pointing out that jd.com's logistics profit margin has significantly improved.
Jingwu Financial News | Southwest Securities reported that jd.com (09618) achieved revenue of 260.4 billion yuan in Q3 2024 (year-on-year +5.1%), Non-GAAP operating profit of 13.1 billion yuan (year-on-year +17.9%), Non-GAAP net income attributable to shareholders of 13.2 billion yuan (year-on-year +23.9%). The operating margin for jd.com retail is 5.2%, unchanged year-on-year, an increase of 1.3 percentage points quarter-on-quarter; as of the end of September 2024, TTM free cash flow is 33.6 billion yuan, a decrease of 22 billion yuan from the end of June 2024, and a year-on-year decrease of 5.
JD Logistics Étend La Livraison Express Internationale À L'Afrique
Sinolink Securities: Transportation sector policy expectations are positive, suggesting layout in aviation and logistics as the main themes for 2025.
Currently, the transportation sector has shown good fundamentals, recommended two investment mainlines for the transportation sector under the boost of domestic demand confidence in policies.
[Brokerage Focus] Haitong Int'l raises jd.com logistics (02618) target price by 16% to 24Q3, continuous cost reduction exceeds expectations.
Jingwu Financial News | Haitong Int'l released a research report indicating that jd.com (02618) recorded revenue of 44.4 billion yuan for Q3 2024, +6.6%. The Non-IFRS net income was 2.6 billion yuan, +205.1%, with a Non-IFRS net margin of 5.8%, an increase of 3.8 percentage points compared to the net margin of 2.0% in 2023. The company's cost of goods sold for Q3 2024 was 39.2 billion yuan, +2.2%. In Q3 2024, the company's gross margin was 11.7%, an increase of 7.9 percentage points compared to the gross margin in Q3 2023, with the reasons for the increase in gross margin being: 1) Optimization of product and network structure; 2)
【Brokerage Focus】Industrial Securities maintains a "shareholding" rating for jd.com Logistics (02618), anticipating that access to the Taotian platform is likely to bring revenue growth.
Jinwu Financial News | Industrial Securities released a research report indicating that jd.com logistics (02618) has revenue of 44.4 billion yuan in Q3 2024, a year-on-year increase of 6.6%. Breaking down the revenue, integrated supply chain customers/other customers have revenues of 20.7/23.7 billion yuan respectively, which are year-on-year increases of 5.4%/7.6%. Within the integrated supply chain customer revenue, internal revenue growth outpaces external, with internal integrated supply chain revenue from the jd.com group at 12.79 billion yuan, a year-on-year increase of 8.1%; external integrated supply chain customer revenue is 7.87 billion yuan, the number of customers has increased year-on-year but APRU remains the same.
【Brokerage Focus】jpmorgan indicates that the trend of reverse logistics is becoming increasingly important, and the competitive landscape in the logistics field is being reshaped.
JPMorgan released a research report, stating that during the november 11 shopping festival-related period, China's express parcel volume reached a record high, with a year-on-year growth of 25%, while pricing trends remained stable. The e-commerce market is entering a new phase, with competition expected to be more moderate by 2025. Traditional platforms like Taobao / Tmall and jd.com maintain stable market positions, while pdd holdings continues to grow by offering high-cost-effective commodities. The report further points out that data for October shows that e-commerce growth benefited from stimulus policies and an early start to november 11 shopping festival, with online retail sales increasing by 10% year-on-year and home appliance sales increasing by 39%. Industry data shows parcel volumes, physical commodities.
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CoolWaterCoolWater : To me. Any price below 14 is good.