Market Insight | JD.com-SW Surges Over 7% in Q2, Profits and Buybacks Exceed Expectations
JD.com-SW rose more than 7%, as of the time of publication, it rose by 7.4% to HKD 106.7, with a turnover of HKD 315 million. On the news front, JD.com announced its second quarter and interim performance for 2024. In the second quarter, revenue reached RMB 291.4 billion (about USD 40.1 billion); net profit attributable to common shareholders of the listed company under non-US GAAP reached RMB 14.5 billion, a year-on-year increase of 69.0%; the net profit margin reached 5.0% for the first time, both significantly exceeding market expectations. Citi stated that JD's second-quarter profit exceeded expectations and indicated that if the implementation speed of the trade-in policy is faster than expected, it will become a catalyst for the company's stock price. CICC pointed out that the company's second-quarter profit and repurchase exceeded expectations. As of June 30, 2024, the company has repurchased a total of USD 3.3 billion this year, with the total number of repurchased shares accounting for approximately 7.1% of its outstanding common shares as of December 31, 2023, exceeding expectations
According to the information from Zhitong Finance and Economics APP, JD.com-SW (09618) surged over 7%, reaching a 7.4% increase as of the time of publication, closing at HKD 106.7 with a turnover of HKD 315 million.
On the news front, JD.com announced its second quarter and interim results for 2024. In the second quarter, revenue reached RMB 291.4 billion (approximately USD 40.1 billion); net profit attributable to ordinary shareholders of the listed company under non-US GAAP reached RMB 14.5 billion, a year-on-year increase of 69.0%; the net profit margin reached 5.0% for the first time, significantly exceeding market expectations.
Citi stated that JD.com's second-quarter profit exceeded expectations and indicated that if the implementation speed of the trade-in policy is faster than expected, it will become a catalyst for the company's stock price. CICC mentioned that the company's second-quarter profit and repurchase exceeded expectations. As of June 30, 2024, the company has repurchased a total of USD 3.3 billion worth of shares this year, representing approximately 7.1% of its outstanding ordinary shares issued as of December 31, 2023, with a repurchase speed exceeding expectations