Zhitong Financial APP learned that Goldman Sachs Group released a research report saying that it maintained the "buy" rating of JD.com Group-SW (09618) and continued to be included in the "convinced buy" list, with a target price of HK $382. Tencent (00700) and JD.com announced the renewal of a three-year strategic cooperation agreement. The two sides will carry out business cooperation in the areas of physical e-commerce portal, cloud technology and cloud services, membership system, online meetings, enterprise services, smart retail and advertising, while the bank expects JD.com to continue to be supported by Wechat traffic.
According to the report, the agreement states that JD.com will issue Class A common shares to Tencent in the next three years, with a maximum value of 220 million US dollars as part of the consideration. Although Tencent distributed JD.com 's shares to shareholders in kind in March this year, he still owns about 2.3 per cent of JD.com. The bank believes that the reissue of shares in the next three years will help to strengthen the consistency of interests between the two sides. JD.com 's risk and return is attractive.