decadesarcade| Nomura: Maintain Jingdong Group-SW "Buy" rating target price rises to HK$165

Nomura released a research report sayingdecadesarcade, maintain Jingdong Group-SW (09618)"Buy" ratingdecadesarcade, the target price was raised by 29% from HK$128 to HK$165. The company announced strong first-quarter results for Jingdong Retail (JDR), with revenue increasing 6.5% year-on-yeardecadesarcade.8%, in line with market expectations, due in part to a 6% increase in revenue from 1P productsdecadesarcade.6%。Retail data and comprehensive results exceeded expectations.

The report stated that the company's comprehensive income and non-GAAP earnings per share increased by 7% and 19% year-on-year, which were 1% and 21% higher than market expectations. Supermarket and 3P revenue growth momentum is strong. Jingdong's supermarket business was due to last year's reorganization, and its revenue growth in the first fiscal quarter was strong, with a double-digit increase compared with the same period last year. Jingdong enriches the supply of goods and improves the shopping experience (such as lowering the threshold for free shipping).