GJJDCOM@EC2605A

JD-SW to release FY2025 Q4 earnings on March 5 Pre-Market (BJT), forecast revenue HKD 399.2 B

JD Group applies for JDA JD Insurance Advisor series trademark

JD Robot and AI Related Products Experience Significant Sales and Traffic Growth During Spring Festival

Citibank Adjusts JD's Earnings Forecast and Downgrades Target Price

JD Robots See Surge in Searches and Orders During Chinese New Year Gala

JD Announces 1.3 Billion Yuan Investment in Employee Benefits and Five-Year Logistics Supply Chain Plan for Spring Festival

Glaxis Capital Management LLC Invests in JD.com

JD's Paris Warehouse Theft Case Solved, Majority of Stolen Goods Recovered

JD Announces $22 Billion Investment in 1.5 Million 'Brother's Home' Over the Next Five Years

JD.com and 11Street Establish Strategic Cooperation to Launch Reverse Cross-border E-commerce

JD Air Launches International Cargo Route from Chongqing to South Asia

JD Launches 'JD AI Pay' Smart Payment Solution

JD Launches JoyExpress Delivery Service in Europe

JD Releases Industry-Purchasing Integration Value White Paper to Promote Digitalization of Supply Chain

JD Instant Medication Delivery Business Surpasses Expectations

JD Integrates Kappa Supermarket, Introduces 100 Own-Brand Products

JD's Innovation Retail Department to be Integrated into JD Retail

JD MALL Expected to Open in June 18 in Hong Kong's Grand Bay View Center

JD's Global Sales During Lunar New Year Festival Rose Over 100% in One Week

JD to Subsidize On-Duty Employees with Over 130 Million Yuan During the 9-Day Spring Festival in 2026

CT IND GROUP

KEEN OCEAN

EPI (HOLDINGS)

MOBI DEV

MS CONCEPT

NANFANG COMM

CCOE

HK ENT INTL

IDT INT'L

PUTIAN COMM

09888

BIDU

89888

K3SD

HBUD

UBER

09618

89618

HJDD

LYFT

BYTED

Below is Dolphin Research's Trans of the $Baidu(BIDU.US) FY25Q4 earnings call. For our take on the print, cf. 'BIDU: Buybacks backstop, but the rerating still needs a narrative'.Key financials recap follows. Core AI business metrics refer to Q4 FY25.Baidu General Business revenue: RMB 26.1bn. Core AI-powered Business revenue: over RMB 11.0bn...

BIDU (Trans): Prioritizing Shareholder Returns and Better Mgmt. Execution

09961

TCOM

TRIP

K3RD

HTGD

09988

89988

HBBD

BABA

KBAB

BABO

BABX

In the early hours on Feb 26 after the US close, $Trip.com(TCOM.US) released Q4 FY2025 results under a regulatory overhang.Overall, the print was solid, with revenue growth beating prior guidance and re-accelerating.However, opex climbed across the board, rising faster than revenue and resulting in a GAAP OP miss vs. expectations.1) Strong revenue, accelerating growth:Group net revenue rose 21% YoY this quarter, the highest pace this year and notably faster vs. last quarter.Revenue across business lines exceeded prior guidance...

TCOM: Regulatory Overhang — Opportunity or Risk?

---

Baidu revealed in its 2025 earnings call that the number of digital human live streams on its platform in December increased by nearly 200% year-on-year. Huibo Star's digital human technology has provided services for companies such as JD.com and TikTok, demonstrating its application potential across multiple industries

Wallstreetcn

KraneShares 2x Long JD Daily ETF

BIDU-SW

JD-SW

Baidu

JD.com

Baidu HuiBoXing digital humans have served companies such as JD.com and TikTok

01617

00005

09896

00700

01024

Hong Kong stocks experienced a collective pullback today, with the three major indices retreating after reaching highs. The Hang Seng Index closed down 1.44%, and the Hang Seng Tech Index plummeted 2.87%. On the market, tech stocks and retail stocks showed weakness, with significant declines in heavyweight stocks like Alibaba and Kuaishou; bank stocks exhibited mixed performance, with HSBC Holdings rising 1.61% against the trend, supporting the market. Funds have not completely withdrawn, as the telecommunications equipment sector was in demand, with NANFANG COMM and MOBI DEV seeing significant price increases. On the macro front, the market is closely monitoring economic data from early 2026 to assess the sustainability of the recovery

- Hong Kong stocks experienced a collective pullback today, with the Hang Seng Index dropping 1.44% to close at 26,381.02 points after recent highs.  
- The Hang Seng Tech Index fell 2.87%, indicating significant profit-taking, while retail and internet sectors also showed declines amid a subdued market mood.  
- Investors are focusing on macroeconomic signals for early 2026, watching GDP growth and inflation rates to assess economic recovery and stock valuation trends.

Market Heartbeat

HSBC HOLDINGS

BABA-W

MNSO

TENCENT

KUAISHOU-W

ICBC

KPM HOLDING

KraneShares 2x Long BABA Daily ETF

Alibaba

Hang Seng Index

ISHARESHSI

Hong Kong Stock Market Closing | The Hang Seng Index fell by 1.44%, the Tech Index plummeted by 2.87%, Alibaba's decline exceeded 3%, and NANFANG COMM surged over 42%

IBUY

EBIZ

ONLN

02618

JD.com (NASDAQ:JD) is set to release its Q4 2025 earnings on March 5, 2026, before market opening. Analysts predict earnings of $0.07 per share and revenue of $49.7 billion. The company has a market cap of $39.45 billion and a current stock price of $27.54. Recent institutional investments have increased, with 15.98% of shares held by institutional investors. Analysts have mixed ratings on the stock, with a consensus rating of "Moderate Buy" and an average target price of $38.71.

- JD.com is set to announce its Q4 2025 results on March 5th, 2026, with anticipated earnings of $0.07 per share and revenue of $49.7038 billion.  
- Currently trading at $27.54, the company has a market capitalization of $39.45 billion and notable analyst ratings, including a "Moderate Buy" consensus.  
- JD.com operates a comprehensive online retail platform and has expanded into sectors such as digital marketplaces and cloud solutions, supported by an integrated logistics network.

Market Beat

Amplify Online Retail ETF

Global X E-commerce ETF

VanEck Retail ETF

SPDR S&P Retail ETF

ProShares Online Retail

JD LOGISTICS

JD.com (JD) to Release Quarterly Earnings on Thursday

On February 26th, the Hong Kong stock market sentiment turned cautious, with all three major indices retreating. The Hang Seng Index fell by 0.95%, and the Hang Seng TECH Index plummeted by 2.19%. Blue-chip stocks generally weakened, with Alibaba and Tencent Holdings dropping by 2.9% and 1.82%, respectively. The funding situation showed a clear divergence, with the demand for AI computing infrastructure driving the communication equipment sector to rise against the trend, as YOFC surged over 4%. The current market is in the pullback confirmation phase after a breakout, with macro-level attention focused on liquidity verification and signals of domestic demand recovery

- On February 26, Hong Kong stocks declined across all major indices, reversing previous gains due to profit-taking and cautious investor sentiment.  
- The Hang Seng Index fell 0.95% to 26,511.22 points, with significant losses in technology stocks, while communication equipment firms saw gains driven by AI infrastructure demand.  
- Market liquidity and domestic consumption recovery remain key focuses for investors, monitoring M3 money supply and retail sales for insights into economic resilience.

YOFC

DONGFANG ELEC

ILUVATAR COREX

FIT HON TENG

Tencent Holdings Limited

ALI HEALTH

CSOP HS TECH

Fullgoal CSI Communication Equipment Thematic ETF

Hang Seng TECH Index

Hong Kong Stock Market Update | The Hang Seng Index fell 0.95%, Alibaba dropped 2.9%, while the communication equipment sector surged against the trend

As of noon on February 26, Hong Kong stocks showed weakness across the three major indices, with the Hang Seng Index down 0.39% and the Hang Seng Tech Index falling 1.65%, leading the decline. In terms of sectors, retail and technology stocks generally retreated, with Alibaba down 2.09% and Kuaishou down 2.41%; the telecommunications equipment sector performed strongly against the trend, with Yangtze Optical Fibre and Cable rising 4.65% and Cambridge Technology up 5.02%. The market experienced a technical adjustment after reaching a peak, focusing on the endogenous momentum of economic recovery, with investment sentiment becoming cautious

- The Hong Kong stock market saw a collective decline in the main indices after reaching a peak, with the Hang Seng Index closing at 26,661.2 points, down 0.39%.  
- The technology sector led the decline, with the Hang Seng Tech Index falling 1.65%, attributed to significant technical corrections from recent highs.  
- While retail stocks fell, communication equipment stocks increased, driven by optimism around digital infrastructure policies.

FULUM GP HLDG

ZIJING INTL FIN

SINOPHARM TECH

Hong Kong Stock Market Mid-Review | Hang Seng Tech Index fell 1.65%, communication equipment stocks rose against the trend, Changfei Fiber increased by 4.65%, Alibaba dropped by 2.09%

The three major Hong Kong stock indices collectively adjusted during the session, with the Hang Seng TECH Index leading the market decline, down 1.57%. In terms of sectors, retailers, internet, and building materials sectors generally weakened, with heavyweight stocks under significant pressure. In terms of individual stocks, Alibaba fell 2.43%, Kuaishou dropped 2.56%, and CONCH CEMENT plummeted 7.19%. Market sentiment is becoming cautious, closely monitoring expectations for Federal Reserve policy and data on the recovery of the mainland economy

- The Hong Kong stock market experienced a collective decline, with the Hang Seng Index dropping 0.58% to 26,609.88 points as profit-taking pressure hindered further gains.  
- Notable declines were seen in the Hang Seng Tech Index and the Hang Seng China Enterprise Index, reflecting a cautious market sentiment amid concerns over economic recovery and the performance of various sectors.  
- Key stocks related to retail and construction suffered significant losses, while select small-cap stocks experienced sharp increases, indicating volatility and market speculation.

CONCH CEMENT

CNBM

WESTCHINACEMENT

MICROWARE

Dacheng Hang Seng Technology ETF(QDII)

Tianhong Hang Seng TECH ETF(QDII)

ChinaAMC Hang Seng Technology ETF(QDII)

HSTECH ETF

Harvest Hang Seng SCHK Technology ETF

Hang Seng TECH ETF I

Huatai-PB CSOP Hang Seng Technology ETF(QDII)

Hong Kong stock market intraday | Hang Seng Tech Index down 1.57%, Alibaba down 2.43%, CONCH CEMENT down 7.19%

06618

JD.com's financial landscape in Hong Kong is evolving from compliance-level entry permits to brand building at the commercial level. According to publicly available information from the Hong Kong Intellectual Property Department, Bei…

- JD.com is expanding its financial services in Hong Kong with a recent trademark application for "JDA JD Insurance Consultant," which covers a wide range of financial services beyond traditional insurance.  
- The company has acquired an insurance brokerage license and is actively building a team, signaling a significant step in establishing its brand in the competitive Hong Kong insurance market.  
- While JD.com adopts a unique asset-light strategy compared to competitors, it faces challenges in adapting its successful mainland operations to the mature and heavily regulated Hong Kong market.

JD HEALTH

From obtaining the license to building the brand: JD.com has submitted the "Insurance Consultant" trademark

JD.com founder Liu Qiangdong announced an investment of 5 billion yuan to establish an independent yacht brand Sea Expandary, planning to develop the yacht industry in Guangdong, covering the entire industry chain including research and development, manufacturing, and sales. He hopes to launch yachts priced at 100,000 yuan in the future, allowing the working class to enjoy yacht life. Sea Expandary will focus on new energy intelligent yachts and has signed strategic cooperation agreements with local governments in Shenzhen, Zhuhai, and other areas to build yacht manufacturing bases and headquarters. The yacht economy will drive the development of related high-end industries and become an important lever for expanding service consumption

- On February 24, JD Group founder Liu Qiangdong announced the creation of an independent yacht brand, Sea Expandary, with a 5 billion yuan investment in Guangdong.  
- The brand plans to cover the yacht industry’s entire chain, including R&D, manufacturing, and sales, aiming to produce affordable yachts for the middle class.  
- Strategic agreements were signed with local governments for manufacturing bases, and the investment reflects China's significant growth potential in yacht consumption and related sectors.

Heading south to Guangdong, major investment! Liu Qiangdong officially announced: hoping to have a yacht worth 100,000 yuan, making it affordable for the working class

JD Group has applied for the "JDA JD Insurance Consultant" trademark, covering multiple areas such as insurance brokerage, consulting, and underwriting, reflecting its layout in the Hong Kong financial market. The trademark application has been received by the Hong Kong Intellectual Property Department, indicating JD's intention to expand its financial business

AASTOCKS

JD attacks the Hong Kong insurance market, applying for the "JD Insurance Consultant" trademark

09987

02513

01888

On February 24th, Hong Kong stocks closed with all three major indices significantly retreating, with the Hang Seng Index down 1.82% and the Hang Seng Technology Index down 2.13%. Dragged down by the adjustment in U.S. stocks and macroeconomic concerns, the technology and catering sectors saw widespread declines, with Meituan down 4.24% and Tencent Holdings down 3.35%. Despite the weak market, KNOWLEDGE ATLAS surged against the trend, driven by positive news from AI model breakthroughs, rising 12.14%, while YUM CHINA increased by 2.55% due to strong earnings reports. Market sentiment has turned cautious, facing short-term profit-taking pressure

- On February 24, Hong Kong stocks faced a significant retreat, with major indices, including the Hang Seng Index, falling by 1.82% after reaching a high phase.  
- The declines were attributed to profit-taking pressures and cautious market sentiment, particularly affecting the tech and retail sectors.  
- Investors are closely monitoring macroeconomic indicators, including retail sales and import-export data, to assess the sustainability of local consumption and external demand recovery.

MEITUAN

HAIDILAO

YUM CHINA

KNOWLEDGE ATLAS

KB LAMINATES

ADD NEW ENERGY

GIGADEVICE

Hong Kong Stock Market Closing | The Hang Seng Index fell 1.82%, technology and restaurant stocks were under pressure, while KNOWLEDGE ATLAS surged 12.14%

On February 24, 2026, Beijing time, the Hong Kong stock market collectively weakened in the afternoon, with all three major indices adjusting high and falling more than 2%. The Hang Seng Tech Index led the decline, dragged down by a pullback in AI themes. Technology stocks generally fell, with major stocks such as Tencent Holdings, Alibaba, and Meituan showing weak performance. Funds shifted towards defensive stocks and individual stock speculation, with Aito rising sharply against the trend due to positive acquisition news. On the macro level, the market is closely monitoring liquidity and the recovery of local consumption data, with investment sentiment leaning towards caution

- The Hong Kong stock market experienced a significant downturn, with major indices falling over 2% led by the Hang Seng Index which dropped 2.01%.  
- Key sectors such as internet and retail reflected negative sentiment, influenced by a retreat in AI stocks, highlighting a broader market adjustment.  
- Notable individual stock movements included significant increases for certain companies while others like Tencent and Alibaba faced declines amid increased market caution.

DAISHOMICROLINE

Hong Kong stocks intraday | Hang Seng Index fell 2.3%, Meituan dropped 4.59%, Aide New Energy surged 30.28%

On February 24th, the Hong Kong stock market's midday review showed a collective pullback in the morning session, with the three major indices experiencing a unilateral adjustment. The Hang Seng Index fell by 1.93%, and the Hang Seng TECH Index dropped by 2.36%, leading the market decline. Risk aversion sentiment increased, causing technology heavyweight stocks to weaken across the board, with Meituan -W down 4.76%, leading the blue-chip decline, and Tencent Holdings down 3.44%. The internet, retail, and catering sectors were generally under pressure, but YUM CHINA rose 1.98 against the trend. In terms of individual stocks, KNOWLEDGE ATLAS surged by 20.89%, and KB LAMINATES rose by 11.09, driven by positive earnings expectations. Market focus has shifted to macroeconomic data and liquidity in the capital market

- On February 24, Hong Kong's stock market showed a notable downturn with the Hang Seng Index closing at 26,560.57, down 1.93%. 
- Sector performance was broadly negative, particularly in technology and retail, with major companies like Tencent and Alibaba seeing significant declines amid rising risk aversion and concerns over macroeconomic conditions. 
- Investors are closely monitoring economic indicators such as retail sales and unemployment to gauge the recovery potential of the Hong Kong economy.

Shandong Molong

KINGBOARD HLDG

Meituan

FI2 CSOP HSI

FL2 CSOP HSI

FI CSOP HSI

Hong Kong Stock Midday Review | Hang Seng Index fell 1.93%, KNOWLEDGE ATLAS surged 20.89%, Meituan dropped 4.76%

01357

On February 24th, during the Hong Kong stock market, the three major indices collectively weakened, with the Hang Seng Tech Index leading the decline, down 2.26%. The internet and retail sectors were under pressure, and market risk aversion increased, with Tencent Holdings falling 3.16% and Alibaba dropping 2.50%. The communication equipment sector showed mixed performance, with YOFC rising against the trend by 3.84%. In terms of individual stocks, KNOWLEDGE ATLAS surged 13.57% due to the release of its flagship model, while Jiantao's laminated board rose 11.19% on positive earnings expectations. Investors are closely watching Hong Kong's retail and unemployment rate data

- On February 24, Hong Kong stocks experienced a decline as profit-taking pressures emerged after reaching recent highs, with the Hang Seng Index down 1.65% at 26,634.12 points.  
- Notable declines were observed in the tech sector, led by Tencent, Kuaishou, and Meitu, while the retail sector also suffered due to external market influences.  
- Investors are closely monitoring economic indicators such as retail sales and unemployment rates to gauge local consumer recovery, impacting market momentum and liquidity expectations.

MEITU

BYD ELECTRONIC

SHANDONG MOLONG

Hong Kong stock market intraday | The Hang Seng Index fell 1.65%, the Tech Index fell 2.26% leading the decline, KNOWLEDGE ATLAS surged 13.57%, YOFC strengthened against the trend

Conference Minutes

BIDU-SWR

BIDU ADR US

Grocery Outlet

Baidu HK SDR 10to1

Uber Tech

JD-SWR

JD HK SDR 10to1

ByteDance

Ctrip

Financial Analysis

TRIP.COM-S

Trip.com

Tripadvisor

TRIP ADR US+

Trip.com HK SDR 50to1

BABA-WR

Alibaba HK SDR 5to1

YieldMax BABA Option Income Strategy ETF

BABA 2x Long Daily ETF - GraniteShares

$JD-SW(09618.HK)JD.com is trading close to historic lows and below many estimates of its intrinsic value. As of February 2026, the stock has a trailing P/E of about 7. For long-term value investors, it provides a dividend yield exceeding 3.75% and benefits from a best-in-class logistics network in China that supports a strong, defensible moat.At current prices, the market seems to be assuming no future growth. An outlook that may be overly pessimistic given the company’s continued revenue expansion. I am holding with strong conviction. Are you?

$JD-SW(09618.HK)I view JD.com as an attractive investment given its strong balance sheet and aggressive shareholder returns.The company’s conservative financial structure is highlighted by a cash-to-equity ratio of 0.65 and a low debt-to-equity ratio of 26.5%. It provides meaningful downside protection, balance sheet flexibility, and resilience across economic cycles. Its investment-grade credit rating from S&amp;P further reinforces its financial strength.JD.com is also actively returning capital to shareholders through a $5.0 billion share repurchase program running through August 2027, signaling strong confidence in intrinsic value.At a price-to-earnings multiple of around 7, the stock appears deeply undervalued, offering a compelling risk-reward profile for long-term value investors.

KC1028

AdmiralY

$JD-SW(09618.HK)$BABA-W(09988.HK)JD.com offers retail and logistics stability, while Alibaba’s diversified retail, cloud, and AI bring higher cyclical growth. I invest in both to capture China’s economic expansion. Are you on the same boat with me?

GJJDCOM@EC2605A(25306.HK)

BIDU (Trans): Prioritizing Shareholder Returns and Better Mgmt. Execution

TCOM: Regulatory Overhang — Opportunity or Risk? ---

Baidu HuiBoXing digital humans have served companies such as JD.com and TikTok

Hong Kong Stock Market Closing | The Hang Seng Index fell by 1.44%, the Tech Index plummeted by 2.87%, Alibaba's decline exceeded 3%, and NANFANG COMM surged over 42%

JD.com (JD) to Release Quarterly Earnings on Thursday