news flash·2025-07-11 07:40Core Viewpoint - Huatai Securities maintains a "Buy" rating for JD Group, adjusting the target price to HKD 179.72, anticipating robust retail performance in Q2 2025 with double-digit growth in both revenue and profit, despite pressures from new business investments like food delivery [1] Revenue and Profit Forecast - The company has revised its revenue forecasts for 2025, 2026, and 2027 to CNY 1.3 trillion, CNY 1.4 trillion, and CNY 1.5 trillion respectively, reflecting a slight adjustment [1] - Non-GAAP net profit estimates for 2025, 2026, and 2027 have been lowered to CNY 221 billion, CNY 415 billion, and CNY 551 billion, primarily due to higher-than-expected investments in food delivery [1] Business Synergy and User Retention - The potential for synergy and cross-selling within the e-commerce business is expected to take time to fully materialize, indicating a need for ongoing monitoring of user retention and collaborative progress [1]