Broker Name: DBS
Date of Report: 4Q25 Preview (implied to be in 2025; exact date not provided)
Excerpt from DBS report.
Report Summary:
- DBS forecasts JD Retail revenue to decline by around 4% year-on-year in 4Q25, mainly due to a double-digit drop in electronics and home appliances sales as national subsidy effects fade.
- Profit recovery for JD is expected to continue, though at a slower pace, with food delivery losses narrowing and strong capital returns helping to support the stock; DBS maintains a BUY rating but lowers the target price to HKD150/USD38.
above is an excerpt from a report by DBS. Clients of DBS can be the first to access the full report from the DBS website : https://www.dbs.com
