《大行》建銀國際:京東(09618.HK)第三季外賣投資或增至130億人民幣 維持「跑贏大市」評級
建銀國際發表研究報告,估算京東(09618.HK)(JD.US)於今年第二季投入了約100億元人民幣用於發展外賣業務,隨着市場競爭持續加劇,集團第三季投資額預期將達到約130億元人民幣的高峯。
相應地,建銀國際將京東2025至2027年收入預測上調1%,盈利預測則下調44%、21%及15%,港股目標價從191.1元降至166.2元,美股目標價由49美元下調至42.6美元,評級維持「跑贏大市」。
建銀國際目前預測京東第二季收入將按年增長15%至3,340億元人民幣,主要來自於京東零售(JDR)收入增長15%的推動。該行預測外賣業務投入將抵銷大部分盈利增長,令次季非通用會計準則淨利潤下跌69%至45億元人民幣。
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