HK Stock Market Move | JD-SW (09618) rose by more than 4%, with third-quarter profits exceeding expectations. Institutions have raised the company's full-year overall profit forecast.

JD-SW (09618) rises more than 4%, up 4.22% to HK$138.2, with a turnover of HK$8.93 billion as of the time of writing. In terms of news, JD Group released its third quarter 2024 performance, achieving a total revenue of RMB 260.387 billion, a year-on-year increase of 5.12%; net profit attributable to ordinary shareholders of the company was RMB 11.731 billion, a year-on-year increase of 47.82%. In the first three quarters of 2024, total revenue reached RMB 811.833 billion, a year-on-year increase of 4.27%; net profit attributable to ordinary shareholders of the company was RMB 31.505 billion, a year-on-year increase of 51.63%. BOCOM INTL stated that JD's revenue for the third quarter of 2024 met expectations, with profits exceeding expectations. Looking ahead to the fourth quarter, the bank expects revenue to increase by 5.7% year-on-year. While the data for the Double Eleven shopping festival exceeded expectations, considering the impact of the large promotion period on November, the bank maintains its revenue forecast unchanged and expects adjusted net profit of RMB 8.5 billion, flat year-on-year. It is expected that the overall profit of the company in 2024 will increase by 28% year-on-year to RMB 45 billion, 5% higher than the bank's previous expectations, reflecting the positive impact of the release of logistics profitability.