Core Viewpoint - Southbound funds increased their holdings in JD Health (06618.HK) by 409,400 shares on November 5, 2025, indicating a positive sentiment towards the company [1]. Group 1: Shareholding Changes - In the last five trading days, there were two days of net reductions in holdings by southbound funds, totaling a net decrease of 137,200 shares [1]. - Over the past twenty trading days, southbound funds increased their holdings on fourteen occasions, resulting in a cumulative net increase of 2,579,100 shares [1]. - As of now, southbound funds hold 279 million shares of JD Health, accounting for 8.7% of the company's total issued ordinary shares [1]. Group 2: Company Overview - JD Health is primarily engaged in providing pharmaceutical and health products, internet medical health services, health management, and intelligent medical health solutions [2]. - The company's business includes retail pharmacy operations, which sell pharmaceutical and health products as well as medical devices through self-operated and online platforms, as well as instant retail channels [2]. - JD Health also offers medical health services through internet hospitals and medical models, along with online marketing services such as advertising [2].

Core Points - The article highlights the importance of flu prevention, especially for the elderly, and discusses a donation initiative by JD Health to support rural elderly populations in China [1] Group 1: Company Initiatives - JD Health, in collaboration with the China Social Relief Foundation, is donating a batch of small medicine boxes and flu prevention medications to 50 village health clinics in cities like Hebi and Xinxiang in Henan Province, benefiting over 20,000 rural elderly individuals [1] - The initiative aims to provide better access to medication and health services for elderly individuals in rural areas, where healthcare resources are limited [1] Group 2: Industry Context - The article notes that the elderly are particularly susceptible to flu, which can lead to severe complications such as pneumonia and myocarditis, making preventive measures crucial [1] - There is a significant increase in the demand for flu-related medications, with JD Health reporting a notable rise in search volumes for drugs like Oseltamivir, Mabalasavir, and 999 Cold Medicine Granules during the autumn and winter seasons [1]

Core Insights - JD Health and Innovent Biologics have signed a strategic cooperation agreement, focusing on weight management and showcasing their collaborative achievements in the industry [1] - Innovent Biologics has 16 commercialized products and aims to advance approximately 10 new molecular entities into clinical trials each year [1] - The recently approved drug, Ma Shidu Tai (信尔美), is the world's first GLP-1 and GCG dual-target drug, demonstrating significant advantages in weight loss and blood sugar reduction [1] Group 1: Company Collaboration - JD Health leverages its "super supply chain" advantage to provide a new model for the biopharmaceutical industry [1] - The partnership aims to create a complete ecosystem from drug research and development to production, distribution, and service [3] Group 2: Market Trends and Consumer Behavior - JD Health has developed a one-stop service for chronic disease management, allowing users to access healthcare services from home [2] - The online channel has become a significant entry point for weight management, with over a million users searching for "Ma Shidu Tai" within a month of its launch [2] - There is a notable shift in consumer demographics for GLP-1 drugs, with a high proportion of users from lower-tier cities, indicating improved accessibility through online channels [2] Group 3: Industry Implications - The national strategy for weight management highlights the importance of addressing obesity as a root cause of chronic diseases [3] - The collaboration between JD Health and Innovent Biologics is redefining the service model for weight management in China, aligning with the mission to make high-quality biopharmaceuticals affordable for the public [3]

Core Insights - The forum focused on "technology empowering the assistive care industry," discussing innovations in smart rehabilitation devices, digital health services, and AI technology in the assistive care sector [1][2] - There is a growing demand for high-quality medical health products and services among the disabled population, with significant increases in search volumes for assistive devices since 2025 [1][2] - JD Health's assistive care supply now covers over 30,000 brands and thousands of subcategories, addressing the full spectrum of health needs for disabled individuals [2] Group 1 - The 17th Health China Forum, supported by JD Health, highlighted the importance of technology in enhancing the quality of life for disabled individuals [1] - JD Health's "Assistive Care Zone" launched in May, featuring three main sections: assistive devices, labor products for the disabled, and intelligent health services [2] - The company aims to solve the "last mile" care challenge by providing a comprehensive service loop that includes online consultations, home testing, and medication delivery [2] Group 2 - AI technology is a core competitive advantage for JD Health, leveraging its proprietary medical model and extensive user health data [2] - JD Health has established the largest medical device knowledge base in the industry, with over 1.5 billion user health records [2] - The company plans to deepen its "product + service + AI" innovation model and collaborate with more industry partners to create a smarter and more efficient assistive care ecosystem [3]

Core Insights - JD Health is showcasing its strengths in the pet healthcare sector at the 2025 Upet Pet Life Expo in Beijing, emphasizing its comprehensive supply chain and hospital services for pet medications [1] - The establishment of the "JD Pet Health Good Pet Medicine Alliance" aims to enhance product reliability and service quality for users [1] Supply Chain and Product Offerings - JD Health has built the most comprehensive online pet medication supply chain, covering 132 types of pet medication, including deworming, prescription drugs, and skin care products [2] - The company achieved a significant milestone by offering compliant pet vaccines online, supported by a complete cold chain system and professional after-sales service [2] Sales Growth and Market Position - JD Health's pet medication sales growth significantly outpaces the industry average, with a 3.6 times increase in prescription food sales and over 90% growth in specialized treatment medications in 2024 [2] - The pet hospital services have become the largest and most innovative online pet hospital in the industry, with over 5,500 licensed veterinarians and partnerships with more than 2,400 offline animal hospitals [2] Brand Collaboration and Future Plans - JD Health is enhancing brand collaboration through initiatives like "Love Pets Together Day," partnering with over 20 brands to drive valuable growth [3] - The company plans to improve user pet profile systems and launch 28 new pet health products in 2025, including notable products from leading pharmaceutical companies [3] - JD Health aims to provide a comprehensive, professional, and convenient one-stop pet health solution by strengthening its supply chain and collaborating with more brand partners [3]

Core Insights - JD Health is positioning itself as a leading new medical health service provider in the pet health sector, showcasing its strengths in the pet medicine supply chain and hospital services at the 2025 Upet Pet Life Expo in Beijing [1][3] - The establishment of the "JD Pet Health Good Medicine Alliance" aims to unite industry forces to provide users with more reliable products and services [1] Company Developments - JD Health has completed a comprehensive layout of "medical, testing, medicine, and insurance" in its pet health business, reinforcing its position as a trusted pet health service platform [3] - The company has built the most comprehensive online pet medicine supply chain in the industry, covering 132 pet medicine product approvals, including core categories such as deworming, prescription drugs, and skin care [4] - JD Health's pet medicine sales growth significantly outpaces the industry average, with a 3.6 times increase in prescription food transaction value and over 90% growth in specialized treatment medication sales in 2024 [4] Service Capabilities - JD Health's pet hospital has become the largest and most professional online pet hospital in the industry, with over 5,500 licensed veterinarians and partnerships with over 2,400 offline animal hospitals [5] - The platform offers 24/7 online consultation services, with an average response time of 8 seconds, serving 4.2 million pet owners and achieving a 99.5% order satisfaction rate [5][6] - The use of AI technology in the form of the "JD Medical Inquiry" model allows for automatic responses to 54% of common inquiries, saving pet owners over 6 million in consultation fees annually [6] Ecosystem Development - JD Health is enhancing brand collaboration by leveraging its marketing capabilities, having partnered with over 20 brands to create the "Love Pet Long Companion Day" IP [7] - In 2025, 28 new pet health products will be launched on JD Health's platform, with significant sales achievements already noted for some products [7] - The company aims to build a robust pet health product supply chain and improve its full-cycle service capabilities in collaboration with more brand partners [12] Industry Trends - Industry representatives discussed trends in preventive care, nutrition management, and service experience, emphasizing the need for continuous innovation and quality in pet medicine [9][10] - The online consultation trend is seen as a solution to urgent user needs, breaking spatial and temporal limitations [10]

Core Insights - The strategic cooperation agreement between Guangzhou Pharmaceutical Group and JD Health aims to leverage digital innovation to enhance supply chain collaboration, market operations, and user services, ultimately providing consumers with more efficient health products and services [1][2] Group 1: Partnership Objectives - The partnership focuses on product innovation, channel co-construction, and service integration to boost health consumption confidence and explore joint investment and resource integration for industry upgrades [1][2] - Both companies aim to create a multi-layered, integrated cooperation system to optimize resource allocation and value release [1] Group 2: Historical Context and Growth - Since the deep cooperation began in 2017, the partnership has maintained a high compound growth rate of over 20% in business operations over the past three years, laying a solid foundation for this strategic upgrade [2] - The companies plan to establish a normalized, multi-level collaborative mechanism to enhance decision-making and execution [2] Group 3: Future Collaboration Focus - Future efforts will concentrate on precise procurement, intelligent inventory management, and automated replenishment to build an agile and efficient supply chain [3] - JD Health's big data analytics will enable Guangzhou Pharmaceutical's products to reach consumers more effectively, while leveraging JD Health's extensive logistics network to optimize warehousing, transportation, and delivery [3] Group 4: Market and User Engagement - The partnership will utilize JD Health's vast user resources and data capabilities to gain insights into user needs, enhancing service precision and personalization [3] - New products from Guangzhou Pharmaceutical will be prioritized for launch on JD Health's platform, with joint efforts in precision marketing to facilitate market entry [3] Group 5: Social Responsibility and Industry Transformation - The collaboration will also focus on corporate social responsibility, exploring mechanisms for the recycling of expired medications through existing platforms [3] - This partnership represents a significant step towards the integration of products, services, and platforms in the pharmaceutical and health industry [3]

Core Insights - Hanwang and JD Health have signed a cooperation agreement to launch the "Precise Measurement · Nurse at Home" initiative, providing home guidance and standardized measurement processes for users of Hanwang's K-type electronic blood pressure monitors in 20 cities across China [1] Group 1: Service Offering - The "Nurse at Home" service includes professional blood pressure measurement demonstrations, education on the K-type method, comparisons with traditional mercury sphygmomanometers, and personalized reminders for users [1] - The service aims to help users achieve accurate blood pressure measurements at home, closely resembling the experience in hospitals [1] Group 2: Target Market - The initial rollout of the service will cover key cities such as Shanghai, Tianjin, Chongqing, Wuhan, and Chengdu, and is available for users who have purchased the Hanwang K-type electronic blood pressure monitor [1] Group 3: Product Features - The newly launched Hanwang KSY3610 electronic blood pressure monitor not only measures blood pressure but also provides five key indicators: blood pressure, heart rate, pulse pressure, atrial fibrillation screening results, and irregular pulse alerts [1] Group 4: Industry Context - Hanwang has previously promoted the "Mercury-Free Action" to replace mercury sphygmomanometers in medical institutions, and the new "Nurse at Home" service complements this initiative by extending support to individual households [1]

京东健康CEO曹冬表示，广药集团是京东健康最重要的战略伙伴之一，希望未来能够更好地将广药的优 质产品与京东健康的数字能力、服务场景紧密结合，挖掘新的增长机会，共同为更多用户提供优质的健 康服务。 据悉，自2017年开启深度合作以来，广药集团与京东健康始终秉持互信共赢的理念，合作成果丰硕，过 去三年双方合作业务更是保持了20%以上的高复合增长，为此次战略升级奠定了坚实基础。 就合作项目的落地，广药集团党委副书记、副董事长、总经理陈杰辉表示，接下来双方构建常态化全层 级协同机制，决策层引领、执行层推进、业务层联动；深化优势互补，聚焦大品种拓展等领域突破；拓 展创新边界，共探出海等新场景合作，力争今年合作业务大幅增长，明年向更高目标迈进。 本报讯(记者王镜茹)10月21日，广州医药集团有限公司(以下简称"广药集团")与京东健康在广州签署战 略合作协议。 根据合作协议，双方将以数智创新为核心引擎，整合产品、渠道、技术和服务资源，围绕供应链协同、 市场运营、用户服务等维度，构建多层次、一体化的合作体系，推动资源高效整合与价值释放，为消费 者提供更高效、便捷的健康产品与服务体验。 广药集团党委书记、董事长李小军表示，此次 ...

Core Viewpoint - The strategic cooperation agreement between Guangzhou Pharmaceutical Group and JD Health aims to leverage digital innovation to enhance resource integration and value release in the pharmaceutical and healthcare industry [1][2]. Group 1: Strategic Cooperation - The agreement focuses on integrating products, channels, technology, and service resources to build a multi-layered, integrated cooperation system [1]. - Both companies aim to deepen collaboration in product innovation, channel development, and service integration, while exploring joint investment and resource integration for industry upgrades [1][2]. Group 2: Business Growth and Collaboration - Since their deep cooperation began in 2017, the partnership has achieved over 20% compound annual growth rate in business collaboration over the past three years [1]. - Future efforts will include establishing a regular collaboration mechanism across all levels, focusing on major product expansion and exploring new cooperation scenarios such as international markets [2]. Group 3: Supply Chain and User Services - The partnership will enhance supply chain efficiency through precise procurement, smart inventory management, and automated replenishment, utilizing JD Health's extensive delivery network [2]. - Guangzhou Pharmaceutical Group will leverage JD Health's user data to improve service precision and personalization, with new products launching first on JD Health's platform [2]. Group 4: Corporate Social Responsibility - Both companies will collaborate on a drug recycling initiative, combining Guangzhou Pharmaceutical Group's existing program with JD Health's public welfare platform [2].