Zhi Tong Cai Jing·2025-08-18 06:22Core Viewpoint - JD Health's strong performance in the first half of the year exceeded market expectations, driven by significant revenue growth and user engagement [1][2] Group 1: Financial Performance - JD Health reported total revenue of 35.29 billion yuan in the first half of the year, representing a year-on-year increase of 24.5%, surpassing the market consensus growth of 20.2% [1] - The company achieved product revenue of 29.33 billion yuan (+22.7% YoY) and service revenue of 5.96 billion yuan (+34.4% YoY) [2] - In Q2, JD Health's revenue reached 18.65 billion yuan, reflecting a year-on-year growth of 23.7% [2] Group 2: User Engagement and Growth - As of the end of the first half of the year, JD Health had over 200 million active users in the past twelve months, marking a historical high [2] - The daily active users (DAU) of the JD app grew by 44.8%, 33.4%, and 46.4% year-on-year from May to July 2025, indicating strong traffic growth [1] Group 3: Strategic Initiatives - JD Health is expected to benefit from the rapid traffic growth of JD's main platform and increased advertising demand from upstream partners [1] - The company's ongoing investment in medical AI is seen as a key driver for improving operational efficiency and enhancing user experience [1]