JD will report 2Q21 results on August 23rd before the US market opens with an 8am ET conference call. With e-commerce reaching almost full penetration in China, all e-commerce vendors are looking into new investments while enforcing its core business. For JD’s existing business, the 6.18 sales accomplished exceptionally good results with 27.7% Y/Y growth. For new investments, JD is focusing on omni-channel retails, logistics, lower tier city expansion as well as getting into community group-buy. If 2020 was a year of high growth for JD, then 2021 is the year of investment. We should expect better topline but weak bottom line. For the rest of 2021, the macro data has shown some level of slowdown in retail sales, and we believe compared with its peers, JD is likely to be better positioned to weather the slowdown.
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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