Nomura: Maintains "Buy" rating on JD Health (06618) and raises target price to 41.5 Hong Kong dollars.

Nomura released a research report stating that it maintains a "buy" rating for JD HEALTH (06618), with a target price raised from 31 Hong Kong dollars to 41.5 Hong Kong dollars. The revenue forecasts for JD HEALTH in 2025 and 2026 have been respectively raised by 2% and 3%. In the second half of the 2024 fiscal year, JD HEALTH's revenue increased by 13% year-on-year, exceeding market and Nomura's forecasts by 1%; the operating profit margin under non-International Financial Reporting Standards increased by 0.4 percentage points to 3.4%, exceeding Nomura's forecast by 0.2 percentage points; the net profit under non-International Financial Reporting Standards increased by 27% year-on-year, exceeding market and Nomura's estimates by 15% and 6%, respectively.