JD: Expect Better 4Q17 Revenue Results; Apparel Is Still Weak; Spending In Promotions and Offline Businesses Were Aggressive; Maintain BUY
JD will report 4Q17 results on Friday, March 2nd before the market opens with a 7:30am EST conference call. Based on our proprietary data and calculations, we believe JD’s net revenue is likely to grow 39.8% Y/Y to reach RMB 111.1B in 4Q17, higher than consensus topline at RMB 108.5B (35.3% Y/Y growth) and tops its top-line guidance of RMB 107B - 110B or 35% - 39% Y/Y growth.
T.H. Capital is an independent research and investment advisory firm specializing in China. We offers real-time, on-the-ground, bottom-up research across a wide spectrum from macro and industry analysis to company specific projects; from China ADRs to international names that have meaningful exposure to China market. We deliver relevant, comprehensive and data driven research adding immense value to clients.
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