Brokerage gtja maintains a 'shareholding' rating for jd.com (09618) and expects a 1% growth in revenue for the second quarter.

According to the research report issued by gtja, it is expected that jd.com (09618) will achieve a revenue of 29.01 billion yuan in FY2024Q2, a YoY increase of 1%. Due to the high temperature in May and June of 2023, earlier than in 2024, the base is larger, so household appliance categories such as refrigerators, fans, and air conditioners are under pressure. It is expected that the company's adjusted net income in FY2024Q2 will reach 10.1 billion yuan, and the adjusted net profit margin will increase by 0.2 percentage points YoY to 3.5%, mainly due to the reduction of subsidies without a significant increase in subsidies. On the retail side of jd.com, both GMV and revenue have increased, fully benefiting from the achievements of platform ecosystem construction. It is expected that

金吾財訊Jul 18 03:25 ET

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Brokerage focus: Guosen Securities maintains a rating of JD.com (09618) higher than the market and expects its Q2 gross margin to drive a 16% year-on-year increase in net income after adjustment.

Guosen Securities issued a research report stating that jd.com (09618) will release its Q2 2024 financial report soon. The bank expects its revenue to increase by 1% year-on-year and its Non-GAAP net margin to increase by 0.5 percentage points year-on-year. On the revenue side, the bank predicts that jd.com will achieve revenue of 290.9 billion yuan in Q2, a year-on-year increase of 1%. The bank expects the growth rate of jd.com's retail income to be +1%, with a two-year CAGR of 4% (consistent with Q1), with negative growth in the electrical category and a rebound in the supermarket category, with an expected increase in the high single-digit range and a faster growth rate in the POP model than the large-cap market. Currently, the company is not strongly pursuing revenue growth, focusing on the prosperity of the ecosystem. Jd.com.

金吾財訊Jul 15 02:48 ET