Huatai Securities reports that JD.com (JD, Financial) achieved a 5.1% year-on-year increase in revenue, reaching 260.4 billion yuan in the third quarter, which aligns with market forecasts. The company's non-GAAP net profit soared by 23.9% to 13.17 billion yuan, exceeding expectations by 7.5%. This growth was primarily driven by better-than-expected operating profits from its logistics segment and improved non-operating income.
Looking ahead, JD.com's initiatives such as trade-in programs and aggressive marketing strategies during major shopping events like Singles' Day are anticipated to positively impact its retail segment in the fourth quarter. This momentum is expected to maintain the current trend of accelerated revenue growth.
For the coming year, more proactive consumption-promoting measures are predicted to help JD.com continue benefiting from the recovery in domestic demand, leading to healthy profit growth. Additionally, a more stable competitive landscape in the e-commerce sector could further enhance JD.com's valuation center level. Huatai Securities maintains a "buy" rating for JD.com, setting a target price of $46.58.
