Understanding the Market | JD-SW rose nearly 4% as third-quarter profits exceeded expectations, institutions raised their overall profit forecasts for the year

Zhitong
2024.11.27 06:54
portai
I'm PortAI, I can summarize articles.

JD Group-SW rose nearly 4%, as of the time of writing, up 3.9%, reported at HKD 141.1, with a transaction volume of HKD 873 million. In terms of news, JD Group recently released its third-quarter performance for 2024, with total revenue of RMB 260.387 billion, an increase of 5.12% year-on-year; the net profit attributable to ordinary shareholders was RMB 11.731 billion, an increase of 47.82% year-on-year. Additionally, on the morning of November 26, the Chongqing municipal government signed a comprehensive strategic cooperation framework agreement with JD Group. According to the agreement, Chongqing and JD Group will further deepen strategic cooperation in areas such as retail, technology, logistics, industry, smart medicine, and financial services. CMB International stated that JD's revenue for the third quarter of 2024 met expectations, and profits exceeded expectations. Looking ahead to the fourth quarter, the bank expects a year-on-year revenue increase of 5.7%, with Double Eleven data better than expected. However, considering the impact of the promotional timing on November, the bank maintains its revenue forecast unchanged, expecting adjusted net profit to be RMB 8.5 billion, flat year-on-year. The bank expects the company's overall profit in 2024 to increase by 28% year-on-year to RMB 45 billion, a 5% upward adjustment from its previous forecast, reflecting the benefits brought by the release of logistics profitability

According to Zhitong Finance APP, JD Group-SW (09618) rose nearly 4%, as of the time of writing, up 3.9%, priced at HKD 141.1, with a transaction volume of HKD 873 million.

In terms of news, JD Group recently released its third-quarter performance for 2024, with total revenue of RMB 260.387 billion, an increase of 5.12% year-on-year; the net profit attributable to ordinary shareholders was RMB 11.731 billion, an increase of 47.82% year-on-year. Additionally, on the morning of November 26, the Chongqing Municipal Government signed a comprehensive strategic cooperation framework agreement with JD Group. According to the agreement, Chongqing and JD Group will further deepen strategic cooperation in areas such as retail, technology, logistics, industry, smart medicine, and financial services.

China Merchants Jinling International stated that JD's revenue for the third quarter of 2024 met expectations, and profits exceeded expectations. Looking ahead to the fourth quarter, the bank expects a year-on-year revenue increase of 5.7%. The Double Eleven data was better than expected, but considering the impact of the promotional timing on November, the bank maintains its revenue forecast unchanged, expecting an adjusted net profit of RMB 8.5 billion, flat year-on-year. The bank expects the company's overall profit to increase by 28% year-on-year to RMB 45 billion in 2024, a 5% upward adjustment from its previous forecast, reflecting the benefits brought by the release of logistics profitability

Source: Zhitong The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.