October 16th - CICC released a research report stating that jd.com's third-quarter revenue is expected to increase by 4.9% year-on-year to 260 billion yuan, accelerating from the 1.2% growth in the second quarter, mainly benefiting from the growth of GMV and the trade-in policy. The bank predicts that the group's gross margin in the third quarter of 2024 will expand by 0.2 percentage points year-on-year, driving a 3% year-on-year increase in the group's net income in the third quarter, reaching 11 billion yuan. The bank expects the group's revenue for the fiscal year 2024 to increase by 4.5% year-on-year, with jd.com's retail and logistics revenue increasing by 5.1% and 9.5% respectively, expecting the group's non-GAAP net income to grow by 20% year-on-year. The bank points out that the company is a major beneficiary of fiscal stimulus measures, with a positive long-term profit growth outlook, raising the target price of US stocks from $42 to $50, and also raising the H-share target price from HK$165 to HK$194, maintaining a "buy" rating.