October 17th, bocom intl released a report stating that jd.com's third-quarter performance is in line with expectations, with total revenue expected to grow by 4.9% to 259.8 billion yuan year-on-year, in line with expectations; expected adjusted net income to be 10.9 billion yuan, a 2% year-on-year increase. It is expected that the health of the business will improve, the gross profit margin will improve year-on-year, marketing expenses will continue to be invested, driving double-digit growth in users. In addition, the bank expects jd.com's revenue and adjusted net income to grow by 4.6% and 21.8% year-on-year respectively this year, bullish on the sustainability of the government's policy to boost large consumer consumption through trade-in programs and the elasticity of performance improvement after consumption enhancement. It is expected that revenue and adjusted net income in 2025 will increase by 5.8% and 10% year-on-year, respectively, with the retail trade benefiting from the enhanced supply chain capabilities maintaining stable profit growth, jd.com's logistics benefiting from the favorable trend of refined operations maintaining an improving profit margin, the bank has raised jd.com's Hong Kong-listed target price from 159 Hong Kong dollars to 217 Hong Kong dollars, maintaining a "buy" rating.