---
title: "CICC: Raises JD.com's target price to HKD 194 as the main beneficiary of fiscal stimulus measures"
type: "News"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/216947941.md"
description: "CICC raised JD.com's target price to HKD 194, expecting JD.com's third-quarter revenue to increase by 4.9% year-on-year to reach CNY 260 billion, with a gross profit margin expanding by 0.2 percentage points and net profit growing by 3% to CNY 11 billion. Revenue for the fiscal year 2024 is expected to grow by 4.5%, with JD.com's retail and logistics revenue increasing by 5.1% and 9.5% respectively. The bank believes that JD.com is a major beneficiary of fiscal stimulus measures and maintains a \"buy\" rating"
datetime: "2024-10-16T06:14:20.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/216947941.md)
  - [en](https://longbridge.com/en/news/216947941.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/216947941.md)
---

> 支持的語言: [简体中文](https://longbridge.com/zh-CN/news/216947941.md) | [English](https://longbridge.com/en/news/216947941.md)


# CICC: Raises JD.com's target price to HKD 194 as the main beneficiary of fiscal stimulus measures

CMB International released a research report stating that JD.com's third-quarter revenue is expected to increase by 4.9% year-on-year to 260 billion yuan, accelerating from the 1.2% growth in the second quarter, mainly due to the growth in GMV and the trade-in policy. The bank predicts that the group's gross profit margin in the third quarter of 2024 will expand by 0.2 percentage points year-on-year, driving a 3% year-on-year increase in the group's net profit to 11 billion yuan. The bank expects the group's revenue for the fiscal year 2024 to increase by 4.5% year-on-year, with JD Retail and JD Logistics revenue increasing by 5.1% and 9.5% respectively, and the group's non-GAAP net profit expected to grow by 20% year-on-year this year. The bank pointed out that the company is a major beneficiary of fiscal stimulus measures, coupled with positive long-term profit growth prospects, raising the target price for US stocks from $42 to $50 and the target price for H shares from HK$165 to HK$194, maintaining a "buy" rating

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