T. H. Data Flash - JD.com, Inc. – May & 2Q19E: New Business Initiatives To Play Out; Benefiting From Being Left Out Of The Fight Between Its Peers; Raise PT
We are positive on JD’s 2Q19 performance. While there is a fight between PDD and BABA, JD is not part of it and actually benefits from being left out of the fight, as JD can concentrate on its new business initiatives and its annual promotions. The company is well prepared for its 6.18 annual promotion event with many initiatives: Pinggou for lower tier city users, cash incentives for higher value purchase, and expanding its logistic services.
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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