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May 17, 2024

<Research>UBS Lifts TP of JD-SW (09618.HK) to HK$156; 1Q24 Results Beat

UBS noted in a report that JD-SW (09618.HK)  +1.700 (+1.284%)    Short selling $196.38M; Ratio 10.404%   's 1Q24 results have beaten expectations. Revenue elevated 7% YoY, in line with expectations. Adjusted net profit rose 17% YoY to RMB8.9 billion, exceeding estimates by 19%, thanks to strong gross profit at JD Retail and a turnaround from loss to profit at JD LOGISTICS (02618.HK)  +0.420 (+4.286%)    Short selling $12.16M; Ratio 3.818%   .

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