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<Research>Nomura Expects JD-SW (09618.HK) 1Q NP to Drop 54%+ but Beat Forecast w/ Narrower New Biz Losses
Recommend 4 Positive 8 Negative 6 |
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Nomura released a research report estimating JD-SW (09618.HK) to post a 54% YoY decline in non-GAAP net profit for 1Q26 to RMB5.9 billion, 16% ahead of market consensus. Revenue is expected to rise 3.6% YoY to RMB312 billion, in line with market consensus. For 1Q26, JD-SW's new business loss is predicted to be RMB10.7 billion, narrowing from a loss of RMB14.8 billion in 4Q25, mainly due to more prudent investment in its on-demand retail operations. Moreover, while investing in new businesses, the management also demonstrated a willingness to deliver sustained shareholder returns. Therefore, the broker reiterated rating at Buy and a target price of US$40 on JD.com (JD.US)'s US stock. Auto-translated by AI AASTOCKS Financial News |
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