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<Research>CLSA Reiterates Outperform on JD INDUSTRIALS w/ TP HKD21
Recommend 2 Positive 5 Negative 2 |
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JD INDUSTRIALS (07618.HK) recorded a revenue increase of 17.4% YoY to RMB24 billion last year, in line with expectations, according to CLSA's research report. The GMV rose by 16.5% YoY to RMB33.5 billion, and the gross margin expanded by 1.2 ppts to 17.4%, mainly benefiting from direct upstream procurement and enhanced economies of scale. The net profit margin, calculated under International Financial Reporting Standards, stood at 4.7%. CLSA has kept its target price for JD INDUSTRIALS at HKD21 and reiterated the Outperform rating. AAStocks Financial News |
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