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<Research>CLSA: JD-SW 3Q Results In Line, Facing Greater Challenges in 4Q
Recommend 8 Positive 12 Negative 12 |
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CLSA's research report wrote that JD-SW (09618.HK)'s 3Q results were in line, with total revenue growing 15% YoY to RMB299.1 billion, and adjusted EBIT slipping 98% YoY to RMB211 million. JD Mall's profit grew 28% YoY, but new business losses expanded to RMB16 billion given higher Jingxi and International investments. The broker expected the group to face greater hurdles in 4Q, with total revenue growth slowing to 9% YoY, and adjusted EBIT potentially turning negative at RMB908 million. The broker maintained a target price of USD41 for JD.com's US shares (JD.US) and an Outperform rating. AASTOCKS Financial News Website: www.aastocks.com |
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