Zhi Tong Cai Jing·2025-11-11 03:25Core Viewpoint - The report from Credit Lyonnais indicates an upward revision of JD Health's (06618) revenue growth forecast for 2025 to 22%, with an expected EBIT margin of 5.7%, up from the previous forecast of 5.0% [1] Group 1: Financial Projections - The adjusted net profit forecasts for the company have been increased by 5% and 4% for the current and next year, respectively [1] - The target price for JD Health has been raised from 64 HKD to 66 HKD, maintaining an "outperform" rating [1] Group 2: Sales Performance - JD Health's pharmaceutical sales in Q3 showed a robust year-on-year growth of over 30%, driven by prescription drugs and chronic disease medications, while health products maintained a year-on-year growth of over 20% [1] - The total revenue for Q3 is expected to increase by 25% year-on-year to 16.6 billion RMB [1] Group 3: Operational Outlook - The company plans to open 200 new stores in the second half of the year, having opened only 50 in Q3, which is expected to contribute to an adjusted EBIT increase of over 40% to 1.2 billion RMB [1] - For the outlook of the second half of the year, revenue is projected to grow by 20% year-on-year, indicating a 16% year-on-year growth for Q4 [1]