理解市场 | 京东集团-SW 午前涨超 3% 25 年以旧换新相关政策可减轻市场对公司收入增长忧虑
JD-SW rose over 3% in the morning, and as of the time of writing, it has increased by 3.57%, trading at HKD 133.6, with a transaction volume of HKD 407 million. UBS released a research report stating that since China launched the home appliance trade-in subsidy policy at the end of August last year, consumer sentiment has gradually stabilized in the fourth quarter. Given that JD-SW has a GMV share of up to 60% in the home appliance and 3C electronics sectors, its performance should outperform the industry and China's retail sector. UBS pointed out that entering 2025, the extension of trade-in subsidies and category expansion should alleviate market concerns about JD's revenue growth this year. There is still room for improvement in consumer and category penetration. The firm reiterated JD as the preferred stock in the mainland China's e-commerce sector, considering the market's low expectations, low valuations, and the upside potential brought by macroeconomic stimulus measures, believing that JD's risk-reward is attractive, setting a target price of USD 64 for its U.S. stock, with a rating of "Buy."
According to Zhitong Finance APP, JD Group-SW (09618) rose over 3% in the morning, and as of the time of writing, it was up 3.57%, priced at HKD 133.6, with a transaction volume of HKD 407 million.
UBS released a research report stating that since China launched the home appliance trade-in subsidy policy at the end of August last year, consumer sentiment has gradually stabilized in the fourth quarter. Given that JD Group-SW has a GMV share of up to 60% in the home appliance and 3C electronics sectors, its performance should outperform the industry and China's retail sector.
UBS pointed out that entering 2025, the extension of trade-in subsidies and category expansion should alleviate market concerns about JD's revenue growth this year. There is still room for improvement in consumer and category penetration. The firm reiterated JD as its preferred stock in the mainland China's e-commerce sector, considering the market's low expectations, reasonable valuations, and the upside potential brought by macroeconomic stimulus measures, believing that JD presents an attractive risk-reward profile, setting a target price of USD 64 for its U.S. stock, with a rating of "Buy."
