京东健康（06618）：2025年收入和利润超市场预期，线下药店及AI布局稳步推进

研究报告 Research Report 2025 年收入和利润超市场预期，线下药店及 AI 布局稳步推进 FY2025 top-line and bottom-line results surpassed market consensus, as offline pharmacy network expansion and AI strategy advanced on track [Table_yemei 观点聚焦 1] Investment Focus [Table_Info] 维持优于大市 Maintain OUTPERFORM 评级 优于大市 OUTPERFORM 现价 HK$49.18 目标价 HK$71.07 HTI ESG 4.0-4.0-4.0 E-S-G: 0-5, (Please refer to the Appendix for ESG comments) 市值 HK$157.91bn / US$20.19bn 日交易额 (3 个月均值) US$60.69mn 发行股票数目 3,211mn 自由流通股 (%) 32% 1 年股价最高最低值 HK$69.65-HK$27.80 注：现价 ...