Financial Performance - Total net revenues for Q2 2024 were RMB291.4 billion (US$40.1 billion), a 1.2% increase from RMB287.9 billion in Q2 2023[7] - Net income attributable to the Company's ordinary shareholders for the three months ended June 30, 2024, was RMB 12,644 million, representing a significant increase of 92.5% compared to RMB 6,581 million for the same period in 2023[26] - Non-GAAP net income attributable to the Company's ordinary shareholders for the three months ended June 30, 2024, was RMB 14,460 million, up 68.5% from RMB 8,557 million for the same period in 2023[26] - Operating income for Q2 2024 was RMB 10.5 billion (US$ 1.4 billion), up 27.0% from RMB 8.3 billion in Q2 2023, with a non-GAAP operating income of RMB 11.6 billion (US$ 1.6 billion)[61][69] - The company reported a net income of RMB 20,959 million for the six months ended June 30, 2024, up 59.5% from RMB 13,122 million for the same period in 2023[18] Revenue Growth - General merchandise revenues grew by 8.7% year-over-year to RMB88.8 billion (US$12.2 billion) for Q2 2024[7] - Total net revenues for the six months ended June 30, 2024, reached RMB 551,446 million, an increase of 3.8% from RMB 530,887 million for the same period in 2023[18] - Total revenues increased by 1.2% year-on-year, driven by robust growth in the general merchandise category, particularly supermarkets[46] Cash Flow and Liquidity - Free cash flow increased to RMB55.6 billion (US$7.7 billion) for the twelve months ended June 30, 2024, compared to RMB33.5 billion for the same period in 2023[5] - Operating cash flow for the twelve months ended June 30, 2024, was RMB 74.0 billion (US$ 10.2 billion), a 40.9% increase from RMB 52.5 billion in the previous year[61] - Net cash provided by operating activities for the six months ended June 30, 2024, was RMB 39.42 billion, up from RMB 24.90 billion for the same period in 2023, reflecting a growth of 58.5%[86] Expenses - Marketing expenses increased by 7.3% to RMB11.9 billion (US$1.6 billion) for Q2 2024, compared to RMB11.1 billion for Q2 2023, representing 4.1% of net revenues[1] - Research and development expenses for the three months ended June 30, 2024, were RMB 4,217 million, a slight increase from RMB 4,072 million for the same period in 2023[18] - Fulfillment expenses for Q2 2024 were RMB 17.2 billion (US$ 2.4 billion), a 3.2% increase from RMB 16.7 billion in Q2 2023, representing 5.9% of net revenues[68] Shareholder Equity - Shareholders' equity decreased to RMB287.3 billion (US$39.5 billion) as of June 30, 2024, from RMB295.8 billion[17] - The company repurchased a total of 136.8 million Class A ordinary shares for a total of US$2.1 billion during the three months ended June 30, 2024[46] - The company repurchased approximately 4.5% of its ordinary shares outstanding for the three months ended June 30, 2024, and 7.1% for the six months ended June 30, 2024[63][64] Assets and Liabilities - Total liabilities rose to RMB363.7 billion (US$50.0 billion) as of June 30, 2024, up from RMB332.6 billion as of December 31, 2023[17] - Total assets rose from RMB 628.96 billion as of December 31, 2023, to RMB 651.64 billion as of June 30, 2024, marking a 3.6% increase[80] - Cash and cash equivalents increased from RMB 71.89 billion as of December 31, 2023, to RMB 84.50 billion as of June 30, 2024, a rise of 17.5%[80] Non-GAAP Measures - Non-GAAP EBITDA rose by 30.1% to RMB13.5 billion (US$1.9 billion) for Q2 2024, with a margin of 4.6%, up from 3.6% in Q2 2023[2] - The company's non-GAAP operating margin improved to 4.0% for the three months ended June 30, 2024, compared to 3.0% for the same period in 2023[25] - Non-GAAP net margin attributable to the Company's ordinary shareholders was 5.0% for Q2 2024, up from 3.0% for Q2 2023[97] Strategic Initiatives - JD.com entered into strategic partnerships with brands like Xiaomi, Lenovo, and OPPO to enhance cooperation in smart devices and AI technology[48] - JD Health debuted new and specialty drugs online, including the first domestic order of Leqembi® for Alzheimer's treatment[48] Future Outlook - The company plans to discuss its financial results for the three and six months ended June 30, 2024, in a conference call on August 15, 2024[9] - The company remains focused on enhancing user experience and price competitiveness to ensure sustainable growth in the future[62]

BEIJING, Aug. 15, 2024 (GLOBE NEWSWIRE) -- JD.com, Inc. (NASDAQ: JD and HKEX: 9618 (HKD counter) and 89618 (RMB counter), the “Company”), a leading supply chain-based technology and service provider, today announced its unaudited financial results for the three and six months ended June 30, 2024. Second Quarter 2024 Highlights Net revenues were RMB291.4 billion (US$140.1 billion) for the second quarter of 2024, an increase of 1.2% from the second quarter of 2023.Income from operations was RMB10.5 billion (U ...

These two solid companies trade at attractive prices for courageous investors willing to explore them further.As investors, we seek to buy good companies at attractive prices and hold them over the long run. This strategy might sound simple, but it is tough to execute in reality. Most companies can't meet the criteria of being good companies, and the few that do usually come at a high price tag.However, for investors willing to venture beyond their comfort zone to consider foreign stocks, their chances of f ...

JD.com, Inc. (JD) is slated to report second-quarter 2024 results on Aug 15.For the second quarter, the Zacks Consensus Estimate for revenues is pegged at $40.12 billion, indicating growth of 1.03% from the year-ago quarter’s reported figure.The consensus mark for earnings is pinned at 86 cents per share, suggesting 16.2% growth from the prior-year quarter’s reported number. The figure has been revised 6.2% upward over the past 30 days. Image Source: Zacks Investment Research JD.com has an impressive earnin ...

BEIJING, Aug. 01, 2024 (GLOBE NEWSWIRE) -- JD.com, Inc. (NASDAQ: JD and HKEX: 9618 (HKD counter) and 89618 (RMB counter)), a leading supply chain-based technology and service provider, today announced that it plans to release its unaudited financial results for the three months and six months ended June 30, 2024 on Thursday, August 15, 2024, before the U.S. market opens. JD.com's management will hold a conference call at 8:00 am, Eastern Time on August 15, 2024, (8:00 pm, Beijing/Hong Kong Time on August 15 ...

BEIJING, Aug. 01, 2024 (GLOBE NEWSWIRE) -- JD.com, Inc. (NASDAQ: JD and HKEX: 9618 (HKD counter) and 89618 (RMB counter)), a leading supply chain-based technology and service provider, today announced that it plans to release its unaudited financial results for the three months and six months ended June 30, 2024 on Thursday, August 15, 2024, before the U.S. market opens. JD.com’s management will hold a conference call at 8:00 am, Eastern Time on August 15, 2024, (8:00 pm, Beijing/Hong Kong Time on August 15 ...

JD.com, Inc. (JD) closed the latest trading day at $26.56, indicating a +0.87% change from the previous session's end. The stock fell short of the S&P 500, which registered a gain of 1.11% for the day. Meanwhile, the Dow experienced a rise of 1.64%, and the technology-dominated Nasdaq saw an increase of 1.03%.The the stock of company has risen by 0.27% in the past month, leading the Retail-Wholesale sector's loss of 2.12% and the S&P 500's loss of 1.16%.The upcoming earnings release of JD.com, Inc. will be ...

JD has the ingredients to be a long-term winner, but it's not for everyone.It has been a horrendous few years for investors in JD.com (JD 2.21%). Thanks to a series of challenges, including the Chinese government's tech crackdown, geopolitical tension between the U.S. and China, and the increasingly challenging e-commerce industry, JD's stock price has declined by more than 70% from its peak of $99.91 in 2021.While most investors have generally shunned the stock, bargain hunters are sniffing for potential o ...

Core Viewpoint - Analyst recommendations play a significant role in influencing stock prices, but their reliability is questionable due to potential biases from brokerage firms [1][2]. Group 1: JD.com Brokerage Recommendations - JD.com has an average brokerage recommendation (ABR) of 1.56, indicating a consensus between Strong Buy and Buy, based on 18 brokerage firms [1]. - Out of the 18 recommendations, 13 are Strong Buy, accounting for 72.2% of the total recommendations [1]. Group 2: Limitations of Brokerage Recommendations - Studies indicate that brokerage recommendations have limited success in guiding investors towards stocks with the highest price increase potential [2]. - Brokerage analysts often exhibit a strong positive bias due to vested interests, with five "Strong Buy" recommendations for every "Strong Sell" [2][4]. - The ABR may not reflect the actual price direction of a stock, suggesting that it should be used to validate independent research rather than as a sole decision-making tool [2]. Group 3: Zacks Rank vs. ABR - The Zacks Rank is a proprietary stock rating tool that classifies stocks from Zacks Rank 1 (Strong Buy) to Zacks Rank 5 (Strong Sell) and is based on earnings estimate revisions [3][5]. - Unlike the ABR, which is based solely on brokerage recommendations, the Zacks Rank is a quantitative model that reflects timely changes in earnings estimates [4][5]. - The Zacks Rank for JD.com is currently 3 (Hold), indicating a cautious outlook despite the positive ABR [6]. Group 4: Earnings Estimates for JD.com - The Zacks Consensus Estimate for JD.com remains unchanged at $3.33 for the current year, suggesting stability in analysts' views on the company's earnings prospects [6]. - The unchanged consensus estimate contributes to the Zacks Rank 3 (Hold) for JD.com, indicating potential alignment with broader market performance [6].

Investment Rating - The report maintains a **Buy** rating for the company with a target price of **$40/155 HKD**, based on a 13x forward P/E multiple for JD Retail in 2024 [2][4] Core Views - The company's **Q2 2024 revenue** is expected to grow **1% YoY to RMB 291.4 billion**, below the Bloomberg consensus of RMB 306 billion, with a downward revision of **5 percentage points** in growth expectations [1] - **Adjusted net profit** is projected to increase **15% YoY to RMB 9.8 billion**, **13% higher** than previous expectations, driven by improved gross margins due to changes in product mix, lower procurement costs, and reduced air conditioner subsidies [1] - The **adjusted net profit margin** is expected to improve by **40 basis points YoY to 3.4%** [1] - The company's **active buyers and purchase frequency** showed double-digit growth in Q2, partially offset by a decline in average order value due to changes in product mix and low-price strategies [2] - The company plans to continue investing in low-price strategies, with **full-year revenue growth expectations unchanged**, but may increase investments in the second half of the year to drive revenue growth while ensuring ROI [2] - The **2024 revenue forecast** has been revised downward by **2%**, primarily due to the impact of electronics categories, while the **adjusted net profit** is expected to grow **10% YoY** [2] Operational Data - The company's **user experience NPS** continued to improve in Q2, supported by ecosystem development and low-price strategies [2] - During the **618 shopping festival**, daily active buyers also showed double-digit growth [2] - The **electronics category** is expected to decline by **5% YoY** in Q2, mainly due to a high base effect from air conditioner sales last year, weak PC industry demand, and growth in communication equipment [28] - The **daily necessities category** is expected to grow **9% YoY**, driven by strong performance in supermarkets, partially offset by pressure in home and furniture categories [28] - The **Q2 GMV** is expected to grow at a **low single-digit rate**, with positive growth during the 618 period, slightly higher than retail revenue growth [28] Valuation and Financials - The company's **2024E revenue** is projected at **RMB 1.139 trillion**, with a **5% YoY growth**, while **adjusted net profit** is expected to reach **RMB 38.6 billion**, a **10.4% YoY increase** [15] - The **2024E EPS** is forecasted at **RMB 24.56**, with a **P/E ratio of 8.5x** [15] - The **gross margin** is expected to improve to **15.3% in 2024E**, up from **14.7% in 2023**, driven by better product mix and cost control [15] - The **adjusted EBITDA margin** is projected to increase to **4.4% in 2024E**, up from **3.9% in 2023** [15] Industry and Market Context - The company's **valuation** is considered to be at the bottom, with potential for healthy profit growth, continued shareholder returns, and benefits from new advertising products like **Quanzhan Tui** [2] - The **electronics category**, which accounts for **10% of the electronics segment** and **30% of the home appliance segment**, is expected to see a double-digit decline in air conditioner sales in Q2 [28] - The company expects **Q3 revenue growth** to recover compared to Q2, as it returns to a normal comparable base [28]