15 July 2025 | 11:09AM HKT JD Health International (6618.HK) 2Q25 Preview: solid topline alongside still disciplined spending; On-demand investments a key focus; Buy | | | JDH share price has rallied 60% YTD (vs. HSI +21%), outperforming peers (ALH +37%) and the broader Internet sector. At the current valuation level (21X CY26 PE), heading into 2Q result season we anticipate the key debates to be around: 1) On-demand initiatives: JDH's investments/spending and competition dynamics amid broadly intense on-de ...