Zhi Tong Cai Jing·2025-08-19 06:44Core Viewpoint - Bank of America Securities reaffirms "Buy" rating for JD Health (06618), highlighting the company's strong growth momentum and AI application potential [1] Financial Performance - JD Health's revenue for the first half of the year increased by 25% year-on-year to 35.3 billion RMB [1] - Adjusted net profit rose by 35% year-on-year to 3.6 billion RMB, exceeding expectations [1] - Adjusted operating profit grew by 61% year-on-year [1] Future Projections - The company is expected to achieve revenue and adjusted operating profit growth of 15% and 26% respectively by 2026, surpassing Alibaba Health's (00241) projections of 10% and 22% [1] - Bank of America has raised its adjusted operating profit forecasts for 2025 to 2027 by 13% to 14% [1] Growth Drivers - Two key factors driving the strong performance in the first half are the increase in offline pharmacy market share and the rise in advertising budgets for healthcare brands [1]