CMB International released a research report stating that, given nationwide subsidy programs, JD-SW (09618.HK) -8.100 (-5.529%) Short selling $456.72M; Ratio 17.919% (JD.US) was forecast to report 1Q25 total revenue of RMB291.9 billion, up 12.2% YoY, with non-GAAP net profit projected to grow 21% YoY.JD-SW is less impacted by potential tariff hikes compared to peers, given its lower revenue exposure to the U.S. market. Also, JD-SW's high GMV in electronics and home appliances positions it to benefit more from nationwide trade-in and subsidy programs.Related NewsDaiwa Predicts Minimal Impact on JD-SW from Tariffs; ST Rev. Outlook VigorousCMB International retained its earnings forecasts for JD.com for 2025-27, reiterating a target price of USD55 and a Buy rating.(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-04-16 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)