Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

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Equity Bottom-Up

<ul><li>JD.com is making its boldest push yet into the European market. On Thursday, the Chinese e commerce giant announced plans to acquire all outstanding shares in Germany’s CeconomyAG, the parent company of electronics retailers MediaMarkt and Saturn, in a cash offer valuing the deal at about 2.2 billion euros ($2.5 billion).</li><li>Through its wholly owned subsidiary Jingdong Holding Germany GmbH, JD.com is offering 4.60 euros per share, a 43% premium to Ceconomy’s three month volume weighted average price and 23% above its July 23 close, before news of the potential takeover emerged.</li><li>Shares rose to 4.41 euros Thursday, up 1.26%. Upon completion, Ceconomy would be privatized and delisted.</li></ul>

JD.com is making its boldest push yet into the European market. On Thursday, the Chinese e commerce giant announced plans to acquire all outstanding shares in Germany’s CeconomyAG, the parent company of electronics retailers MediaMarkt and Saturn, in a cash offer valuing the deal at about 2.2 billion euros ($2.5 billion).Through its wholly owned subsidiary Jingdong Holding Germany GmbH, JD.com is offering 4.60 euros per share, a 43% premium to Ceconomy’s three month volume weighted average price and 23% above its July 23 close, before news of the potential takeover emerged.Shares rose to 4.41 euros Thursday, up 1.26%. Upon completion, Ceconomy would be privatized and delisted.

JD.com Sets Sights on Europe as It Moves to Buy Ceconomy in $2.4 Billion Deal 

<ul><li>Three robotics startups announced Monday they had completed funding rounds led by JD.com Inc., signaling the Chinese e-commerce giant is accelerating its push into the burgeoning, much-hyped field of embodied artificial intelligence (AI).</li><li>Embodied AI — which refers to intelligent systems with physical forms that interact with the real world, such as robots and self-driving cars — has recently become a battleground for tech firms. As JD.com is a relative latecomer, it’s making an aggressive effort to catch up with rivals like Meituan and Lenovo Group Ltd.</li><li>While supporters of the tech say it’s set to reshape industries from logistics to consumer households, others warn that the technology is a long way off mass adoption and that many firms in the space lack a viable commercial model.</li></ul>

Three robotics startups announced Monday they had completed funding rounds led by JD.com Inc., signaling the Chinese e-commerce giant is accelerating its push into the burgeoning, much-hyped field of embodied artificial intelligence (AI).Embodied AI — which refers to intelligent systems with physical forms that interact with the real world, such as robots and self-driving cars — has recently become a battleground for tech firms. As JD.com is a relative latecomer, it’s making an aggressive effort to catch up with rivals like Meituan and Lenovo Group Ltd.While supporters of the tech say it’s set to reshape industries from logistics to consumer households, others warn that the technology is a long way off mass adoption and that many firms in the space lack a viable commercial model.

JD.com Splashes Cash on Robotics AI Startups 

Blue Lotus Non US Internet research, Blue Lotus Research Institute

Ying Pan

Blue Lotus Non US Internet research

China growth and global non-US Internet equities

Blue Lotus Research Institute

Blue Lotus Research is a Hong Kong Type 4 Licensed investment advisory firm focusing on Chinese growth equities and global non-US Internet equities

<ul>
<li>We expect JD.com to report C2Q25 revenue/adjusted operating profit growth of 16%/(63%) YoY, which is 2%/(50%) vs. cons. due to the takeout subsidies.</li>
<li>Despite the surge in new users, we remain skeptical on the ST effectiveness of food delivery (FD) cross-selling. We expect 2025 FD losses at RMB29bn.</li>
<li>We keep JD as SELL and cut TP from US$25 to US$24.</li>
</ul>


We expect JD.com to report C2Q25 revenue/adjusted operating profit growth of 16%/(63%) YoY, which is 2%/(50%) vs. cons. due to the takeout subsidies.
Despite the surge in new users, we remain skeptical on the ST effectiveness of food delivery (FD) cross-selling. We expect 2025 FD losses at RMB29bn.
We keep JD as SELL and cut TP from US$25 to US$24.


[JD.com, Inc (JD US, SELL, TP US$24) TP Change]: C2Q25 Preview: Near Term Loss Pressure Imminent

External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

<ul><li>For 2Q25E, we anticipate JD.com (JD) to ink total revenue of RMB337.4bn, up 15.8% YoY, 2% better than Bloomberg consensus.</li><li>However, with the stepping up in investment of food delivery (FD) business to drive for user growth and shopping frequency improvement, which we have baked in c. RMB10bn impact on net profit, we are forecasting non-GAAP net profit of RMB4.6bn, representing a 68% YoY decline.</li><li>JD has observed strong growth in daily active users for the main app, and an early-stage increase in cross-selling from FD users to some categories of JD Retail, such as daily necessities and home cleaning. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

For 2Q25E, we anticipate JD.com (JD) to ink total revenue of RMB337.4bn, up 15.8% YoY, 2% better than Bloomberg consensus.However, with the stepping up in investment of food delivery (FD) business to drive for user growth and shopping frequency improvement, which we have baked in c. RMB10bn impact on net profit, we are forecasting non-GAAP net profit of RMB4.6bn, representing a 68% YoY decline.JD has observed strong growth in daily active users for the main app, and an early-stage increase in cross-selling from FD users to some categories of JD Retail, such as daily necessities and home cleaning. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

JD.com (JD US) - Increasing Investment in Food Delivery Weighs on Profit

Derivatives and Quantitative Strategist

Gaudenz Schneider

Equity Derivatives

<ul>
<li>
Context: Over the past five trading days, <a href="https://www.smartkarma.com/entities/jd-com-inc" target="_blank" data-smartkarma-citation="entities:29043:1" rel="noopener">JD.com (9618 HK)</a> multi-leg option strategies showcased a variety of approaches. Strategy highlights are provided.</li>
<li>
Highlights: Diagonal Spreads continue to enjoy popularity. Plus, an out of the money butterfly at near zero premium demonstrates a creative application of this popular option combination.</li>
<li>
Why read: This breakdown of complex option strategies sheds light on market sentiment and positioning. Detailed examples provide actionable insights that could inspire similar strategies,</li>
</ul>



Context: Over the past five trading days, JD.com (9618 HK) multi-leg option strategies showcased a variety of approaches. Strategy highlights are provided.

Highlights: Diagonal Spreads continue to enjoy popularity. Plus, an out of the money butterfly at near zero premium demonstrates a creative application of this popular option combination.

Why read: This breakdown of complex option strategies sheds light on market sentiment and positioning. Detailed examples provide actionable insights that could inspire similar strategies,


JD.com (9618 HK) Top Option Trades: Bullish Butterfly Stands Out Amond Bearish Sentiment

China

JD.com, Inc. is an online direct sales company in China. The Company offers a wide selection of products through its website and mobile applications. JD.com sells appliances, computers, digital products, communication products, garments, books, and household items to consumers and vendors.

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JD.com (9618 HK)

JD.com Sets Sights on Europe as It Moves to Buy Ceconomy in $2.4 Billion Deal

JD. com is making its boldest push yet into the European market. On Thursday, the Chinese e commerce giant announced plans to acquire all...

Caixin Global

JD.com Splashes Cash on Robotics AI Startups

Three robotics startups announced Monday they had completed funding rounds led by JD. com Inc. , signaling the Chinese e-commerce giant is...

Caixin Global

[JD.com, Inc (JD US, SELL, TP US$24) TP Change]: C2Q25 Preview: Near Term Loss Pressure Imminent

JD.com expected to report revenue growth of 16% YoY in Q2 2025, but doubts remain on the effectiveness of food delivery cross-selling. Analysts...

Blue Lotus Research Institute

JD.com (JD US) - Increasing Investment in Food Delivery Weighs on Profit

For 2Q25E, we anticipate JD.com (JD) to ink total revenue of RMB337.4bn, up 15.8% YoY, 2% better than Bloomberg consensus.

CMB International

JD.com (9618 HK) Top Option Trades: Bullish Butterfly Stands Out Amond Bearish Sentiment

Article highlights various multi-leg option strategies traded in JD.com (9618 HK) over the past five trading days, including an out-of-the-money...

Gaudenz Schneider

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

JD.com Sets Sights on Europe as It Moves to Buy Ceconomy in $2.4 Billion Deal

JD. com is making its boldest push yet into the European market. On Thursday, the Chinese e commerce giant announced plans to acquire all...

Caixin Global

JD.com Splashes Cash on Robotics AI Startups

Three robotics startups announced Monday they had completed funding rounds led by JD. com Inc. , signaling the Chinese e-commerce giant is...

Caixin Global

[JD.com, Inc (JD US, SELL, TP US$24) TP Change]: C2Q25 Preview: Near Term Loss Pressure Imminent

​JD.com expected to report revenue growth of 16% YoY in Q2 2025, but doubts remain on the effectiveness of food delivery cross-selling. Analysts...

Blue Lotus Research Institute

JD.com (JD US) - Increasing Investment in Food Delivery Weighs on Profit

For 2Q25E, we anticipate JD.com (JD) to ink total revenue of RMB337.4bn, up 15.8% YoY, 2% better than Bloomberg consensus.

CMB International

JD.com (9618 HK) Top Option Trades: Bullish Butterfly Stands Out Amond Bearish Sentiment

​Article highlights various multi-leg option strategies traded in JD.com (9618 HK) over the past five trading days, including an out-of-the-money...

Gaudenz Schneider

JD.com expected to report revenue growth of 16% YoY in Q2 2025, but doubts remain on the effectiveness of food delivery cross-selling. Analysts...

Article highlights various multi-leg option strategies traded in JD.com (9618 HK) over the past five trading days, including an out-of-the-money...