Haitong International: Gives JD-SW a target price of HKD 167 and maintains an "Outperform" rating

智通财经
2025.08.22 06:21

海通国际发布研报称，京东集团-SW 次季收入同比增长 22.4%，增速创三年新高;期内毛利率同比升 0.12 个百分点至 15.88%，零售毛利率实现连续 13 个季度同比增长，反映经营效率不断提高，料后续毛利率仍有进一步改善空间。海通国际调整京东 2025 至 27 年各年营业收入至分别 13,324 亿、14,402 亿及 15,273 亿元，予目标价 167 港元，维持 “优于大市” 评级。

智通财经 APP 获悉，海通国际发布研报称，京东集团-SW(09618) 次季收入同比增长 22.4%，增速创三年新高;期内毛利率同比升 0.12 个百分点至 15.88%，零售毛利率实现连续 13 个季度同比增长，反映经营效率不断提高，料后续毛利率仍有进一步改善空间。海通国际调整京东 2025 至 27 年各年营业收入至分别 13,324 亿、14,402 亿及 15,273 亿元，予目标价 167 港元，维持 “优于大市” 评级。

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