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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 This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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