MB-JDHI@EC2702A

JD Health Sees Significant Increase in New Drug Premieres in 2025

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CICC upgrades JD Health's revenue forecast and cuts target price

SOMERLEY CAP

TIANLI HOLDINGS

CPM GROUP

FUTONG TECH

NICHE-TECH SEMI

SINO ICT

COSMOS MACH

UBOT HOLDING

SAMPLE TECH

PERENNIAL INT'L

09618

06618

UBS has forecasted JD-SW's1Q26 results, predicting total revenue of RMB 311.241 billion, a 3.4% increase year-on-year. Merchandise revenue is expected to remain flat at RMB 242.309 billion, while service revenue is projected to rise by 17.3% to RMB 68.932 billion. Gross profit is estimated at RMB 48.84 billion, with a gross margin of 15.7%. Operating profit is forecasted to drop by 87.1% to RMB 1.503 billion. Non-GAAP net profit attributable to shareholders is expected to be RMB 5.793 billion, down 54.6%.

- UBS forecasts for JD-SW (09618.HK) in 1Q26 predict total revenue of RMB 311.241 billion, reflecting a 3.4% year-over-year increase.  
- Merchandise revenue is expected to remain flat at RMB 242.309 billion, while service revenue is projected to grow by 17.3% to RMB 68.932 billion.  
- Operating profit is anticipated to decline significantly by 87.1% to RMB 1.503 billion, contrasting with a notable increase in JD Logistics operating profit by 470.3% to RMB 0.827 billion.

AASTOCKS News

JD-SW

JD.com

JD HEALTH

KraneShares 2x Long JD Daily ETF

UBS Group AG

JD LOGISTICS

JD-SWR

UBS Lists JD-SW  1Q26 Results Forecast (Table)

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Brokers anticipate JD-SW's 1Q26 adjusted net profit to decline by 56% YoY, with estimates ranging from RMB5.2 billion to RMB6.1 billion. The company is expected to report revenue growth of 2.9% to 4.7% YoY, with a focus on food delivery competition and strategic updates. Analysts predict a significant reduction in losses from new businesses, particularly in food delivery, which may positively impact full-year profit forecasts. Key areas of interest include management's insights on consumption trends, international business integration, and shareholder returns.

- JD-SW (09618.HK) will announce its 1Q26 results on May 12, with projections showing a significant YoY decline in net profit due to losses from new businesses.  
- The revenue forecast for 1Q26 ranges between RMB 309.7 billion and RMB 315.1 billion, reflecting modest growth, while anticipated losses in food delivery may narrow.  
- Analysts anticipate management will discuss consumption trends, competitive dynamics, and strategies, with potential upward revisions to profit forecasts if food delivery losses improve.

Morgan Stanley

Citigroup

CICC

MORGAN STANLEY DEP SHS EA REP 1/1000 SHS NON CUM PFD O

MORGAN STANLEY DEP SHS REPSTG 1/1000TH PFD SER Q

MORGAN STANLEY DEP SHS REPS 1/1000 7.125% PFD E

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MORGAN STANLEY 4.875 DEP SHS REP 1/1000 NCUM PFD SR L

MORGAN STANLEY 6.5%DEP SHS REPSTG 1/1000 NON CUM SER P

MORGAN STANLEY DEP SHS REPS 1/1000 PFD SER 'A'

MORGAN STANLEY DEP SHS REPR 1/1000TH INT PFD SER 'F' FX

MORGAN STANLEY DEP SHS REP 1/1000 NON-CUM PFD STK SER K

CITIGROUP INC 6.250 NON CUM SER II PFD WI

Brokers Expect JD-SW  1Q26 Adjusted Net Profit to Drop 56% YoY, Focus on Food Delivery Competition and Strategy

JD-SW's Jingxi reported a remarkable 10x year-on-year surge in GMV, with order volume doubling in 2025. The annual repurchase rate reached 50%, and the number of merchants exceeded 1.35 million. At the 2026 JD Jingxi Industrial Belt Development Conference, the company announced plans to invest over RMB10 billion this year to support merchants through various initiatives, including logistics subsidies and AI-driven efficiency enhancements.

- Qi Ting, Vice President of JD-SW, announced at the 2026 JD Jingxi Industrial Belt Development Conference that Jingxi's order volume and GMV significantly increased in 2025, with order volume doubling and GMV growing tenfold year-on-year.  
- The number of merchants on Jingxi Xiaodian surpassed 1.35 million, with order volume and GMV rising by 60% and 50% respectively compared to the previous year.  
- For 2026, Jingxi will continue its "Factory Goods 100 Subsidies" program, investing over RMB 10 billion to support merchants with enhanced services and AI-driven efficiency improvements.

JD-SW  Jingxi's GMV Surges 10x YoY Last Year, To Invest Over RMB10B This Year

EBIZ

ONLN

JD-SWhas launched the 'New Product Omni-Channel 100B Plan', aiming to create at least 1,000 new products with annual sales exceeding RMB100 million. The plan integrates various resources, including search and recommendation traffic, marketing IPs, and AI tools, to enhance its omni-channel capabilities. The company's stock is currently down by 1.095%, with significant short selling activity reported.

- JD-SW (09618.HK) experienced a decline of 1.095%, with short selling totaling $181.07 million and a ratio of 96.705%.  
- The company launched the "New Product Omni-Channel 100B Plan," which integrates various resources to enhance sales and marketing efforts.  
- JD-SW aims to develop at least 1,000 new products this year, expecting annual sales to exceed RMB 100 million.

SPDR S&P Retail ETF

Global X E-commerce ETF

ProShares Online Retail

VanEck Retail ETF

JD Launches 'New Product Omni-Channel 100B Plan', Targets Creating at Least 1,000 New Products with Annual Sales Exceeding RMB100M

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YOFC(06869) rose 17.16%, with a trading turnover 6.7 Billion HKD, and a year-to-date rose 378.1%. MONTAGE TECH(06809) rose 8.3%, with a trading turnover 580.9 Million HKD, and a year-to-date rose 109.9%. MUYUAN(02714) fell 6.14%, with a trading turnover 220.5 Million HKD, and a year-to-date rose 2.6%. FAST RETAIL-DRS(06288) fell 5.35%, with a trading turnover 63.9 Thousand HKD, and a year-to-date rose 26.2%.

- The Hang Seng Index fell by 1.22%, with a year-to-date increase of 2.1%, while the Hang Seng Technology Index decreased by 1.93%, reflecting a year-to-date decline of 10%.  
- Longi Green Energy (06869) rose by 17.16% with a transaction volume of 6.67 billion HKD, marking a cumulative increase of 378.1% for the year.  
- Meanwhile, companies like Yangtze Memory (06809) and Muyuan Food (02714) experienced mixed results, with Yangtze Memory increasing by 8.3% and Muyuan decreasing by 6.14%.

Top Gainers&Losers

YOFC

MONTAGE TECH

MUYUAN

FAST RETAIL-DRS

CATL

LAOPU GOLD

Top 5 HK Stock Gainers/Losers (>100B) (4.22)

The AI assistant "Ganghua Tong" from the Hong Kong Generative Artificial Intelligence Research Center has reached a strategic cooperation with JD Jiaobao Supermarket to provide "AI + Retail" services. Both parties will conduct in-depth cooperation around user growth, service upgrades, and technology integration, promoting the integration of AI with retail scenarios to assist in the digital transformation of Hong Kong's retail industry. "Ganghua Tong" will upgrade the AI conversational shopping function of Jiaobao Supermarket, allowing users to complete product inquiries and place orders through voice interaction

AASTOCKS

Hong Kong Talk collaborates with Jia Bao Supermarket to provide "AI + Retail" services

07618

23013

JD Property has completed the delivery of the Wigan project in the UK, deepening its infrastructure layout for the European supply chain. The project is located in the northwest of England, with a construction area of approximately 30,000 square meters, adjacent to major airports, and has multimodal transport advantages. JD Property will upgrade the existing buildings to enhance warehouse standards and operational efficiency, meeting modern supply chain demands. Currently, it has established over 30 high-standard warehousing facilities in the UK, Germany, and the Netherlands, with a total warehousing area in the UK exceeding 360,000 square meters

JD INDUSTRIALS

JINGDONG Property, Inc.

JD Property's Wigan project in the UK has completed its delivery, laying out a network of supply chain infrastructure in Europe

JD will release a panoramic view of its robot industry services before the 2026 Beijing Yizhuang Half Marathon, planning to collaborate with over 200 brands, aiming for sales to exceed 10 billion by 2026. It will establish the world's largest embodied data collection center, providing after-sales services for robots covering more than 50 cities. Based on the JoyAI large model, it will enhance the intelligent interaction capabilities of JoyInside. Additionally, during the competition, it will provide full-chain support services for participating robots

36Kr

JD released a panoramic view of the robotics industry service

JD.com has launched a robot ambulance service that provides maintenance and repair solutions for various types of robots, including humanoid and AI companion robots. The service includes repairs, fault diagnosis, battery replacement, and more. Initially available in Beijing, JD.com plans to expand this service to over 50 cities in China within the next three years.

- JD.com launched a robot ambulance service for maintenance and repair of various robots including humanoid and AI companion robots.  
- The service includes repairs, fault diagnosis, battery replacement, and equipment recycling, currently available in the Beijing area.  
- JD.com plans to expand this service to over 50 major cities in China within the next three years.

TechNode

JD.com launches robot ambulance service, plans expansion to 50+ cities across China

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BABA

The Hang Seng Index opened 0.68% higher, while the Hang Seng Tech Index rose 1.31%. Baidu and NetEase gained over 3%, and Alibaba and JD rose more than 2%

Wallstreetcn

BABA-W

BIDU-SW

Alibaba

NETEASE MUSIC

NTES-S

BABA 2x Long Daily ETF - GraniteShares

KraneShares 2x Long BABA Daily ETF

Hang Seng Index

Hang Seng TECH Index

Baidu

NetEase

BIDU-SWR

BABA-WR

Alibaba HK SDR 5to1

IBUY

JD.com is currently in a delicate position, with short-term buying activity seemingly starting to pick up. Although prices are fluctuating near previous support levels, there are still traces of bullish sentiment. If short-term buying can gain momentum at key support levels, it may trigger a rebound. The technical indicators show that changes in trading volume are worth noting; a significant increase in volume could signal a rebound. However, the current cautious sentiment in the market cannot be ignored, and investors need to follow the trend. The current global economic factors and policy directions have a significant impact on the overall market, especially on the sentiment in the e-commerce sector. As a leading company in the industry, JD.com's market performance will also be influenced by these macro variables. Therefore, JD.com's future market movements are not only related to its own strategic implementation but also affected by the overall market environment. From an investment strategy perspective, investors should pay close attention to the dynamic changes in JD.com's intraday buying power and the flow of mainstream market funds. If buying activity remains strong and trading volume significantly increases after the stock price stabilizes, it may indicate a rebound opportunity. At the same time, given the comparison of risks and returns, appropriate position management is particularly important. Overall, while being vigilant about short-term high-level risks, it is also essential to seize potential rebound opportunities in a timely manner

- JD.com is currently in a delicate position with short-term buying activity increasing, suggesting potential for a rebound if buying pressure builds at key support levels.  
- Despite the cautious market sentiment influenced by global economic factors, the company’s performance remains tied to these macroeconomic variables as well as its own strategic decisions.  
- Investors should monitor the dynamics of buying strength and market capital flow, as sustained buying and increased volume could indicate rebound opportunities while maintaining prudent risk management.

Technical Forecast

Amplify Online Retail ETF

JD 04-14 Focus on support levels, can short-term buying support a rebound?

00241

562600

Chinese tech giants Meituan, Alibaba, and JD.Com are competing in the AI healthcare market, launching various AI products this year. Meituan introduced the Xiaotuan Health Assistant for family health management, while JD Health upgraded its strategy to integrate AI into medical devices. Alibaba Health released Hydrogen Ion, an AI tool for doctors. Each company targets different user needs, with Meituan focusing on family health, JD on supply chain, and Alibaba on doctor assistance. The shift to AI in healthcare is driven by stagnating e-commerce traffic and the sector's high demand and repurchase rates.

- Chinese tech giants Meituan, Alibaba Group Holding, and JD.Com have heightened competition with their recent launches of AI service products in healthcare.  
- Meituan's AI assistant targets family health management, while JD Health integrates AI into medical devices, and Alibaba Health focuses on doctor support tools, catering to different user needs.  
- The drive into AI healthcare is driven by stagnating traditional e-commerce traffic, as firms seek to leverage high demand and user loyalty in the healthcare sector to establish competitive advantages.

Yicai

ALI HEALTH

ChinaAMC CSI All Share Health Care Devices ETF

China Universal 800 Health Care ETF

SPDR S&P Health Equip

ChinaAMC SSE Health Care ETF Initiating Fund

iShares US Healthcare Providers

VG Health

Health Care Select Sector SPDR

Maxwealth CSI All Share Medical Apparatus and Instruments ETF

Dacheng CSI All Share Health Care Equipment and Services ETF

Guotai SSE STAR Brand Name Drug ETF

iShares US Medical Devices

China Merchants CSI All Share Medical Apparatus and Instruments ETF

E Fund CSI 300 Health Care ETF

SPDR S&P Health

MEITUAN

MEITUAN-WR

Meituan

Meituan HK SDR 5to1

JD HEALTH-R

China's Meituan, Alibaba, JD.Com Vie for AI in Healthcare Market

Jefferies Group's report on April 15 indicates that JD.comis poised to meet market expectations for the first fiscal quarter, driven by strong execution. The firm has raised its profit forecasts due to better-than-expected operating profits from JD Retail and lower losses from new ventures. JD Retail's revenue growth is anticipated to exceed that of Q4 2025, with improvements in its food delivery sector. Jefferies maintains a 'buy' rating for JD.com, setting a target price of HKD 190.

CoinLive

Jefferies Expects JD.com to Meet Market Expectations with Strong Execution

MB-JDHI@EC2702A(27861.HK)

UBS Lists JD-SW 1Q26 Results Forecast (Table)

Brokers Expect JD-SW 1Q26 Adjusted Net Profit to Drop 56% YoY, Focus on Food Delivery Competition and Strategy

JD-SW Jingxi's GMV Surges 10x YoY Last Year, To Invest Over RMB10B This Year