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 ...

ab 27 June 2025 Global Research China Healthcare Expert call takeaways: JDH, a rising competitor in drug retail O2O Meituan: a clear leader in drug retail O2O We invited an ex-Meituan manager of the drug retail business to discuss the pharmaceutical retail O2O (online-to-offline, or quick-commerce) market. According to the expert, Meituan was one of the first to start the O2O business in 2013 and is now China's largest O2O provider owing to its delivery capability and dispatch system advantages. To expand o ...