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06618
JD HEALTH
HKD
64.850-1.950
(-2.92%)
1D
AI Analysis for 06618
AI Analysis
High
67.150
Open
66.800
VWAP
65.00
Vol
6.00M
Mkt Cap
193.00B
Low
64.500
Amount
396.00M
EV/EBITDA(TTM)
36.00
Total Shares
3.00B
EV
21.00B
EV/OCF(TTM)
18.00
P/S(TTM)
3.00
JD Health International Inc is an investment holding company primarily engaged in the provision of pharmaceutical and healthcare products, Internet healthcare, health management and intelligent healthcare solutions. The Company's businesses primarily include retail pharmacy and healthcare services. The retail pharmacy business is primarily engaged in the sales of pharmaceuticals and health products, as well as medical devices through online marketplace and on-demand retail channels. The healthcare services business is primarily engaged in the provision of healthcare services through Internet hospitals and large language models. The Company is also engaged in the provision of online marketing services such as advertising. The Company primarily conducts its businesses in the domestic market.
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News
4.5
04:31 AMaastocksHSI Declines 26 Points at Midday, While BIDU Rises Over 4% and ASMPT Jumps 6%
Market Performance: The HSI fell 0.1% to 26,558, while the HSCEI and HSTECH also experienced declines of 0.3% and 0.4%, respectively, with a total half-day turnover of $131.628 billion.
Chip Stocks Surge: External memory chip stocks saw significant gains, with Disco hitting the day limit and ASMPT rising 6%, while other chip stocks like HUA HONG SEMI and INNOSCIENCE also posted positive performances.
Tech Stock Movements: KINGDEE INT'L surged 3.2% on profit expectations, while BIDU-SW rose 4.2% after positive forecasts from JPMorgan; however, major players like TENCENT and MEITUAN-W saw slight declines.
Economic Indicators: China's unemployment rate remained stable at 5.1%, and the Loan Prime Rate for January 2026 was unchanged at 3.00%, aligning with forecasts.
7.5
01-21aastocksJD Health and Peak Pharmaceutical Collaborate on Comprehensive Health Management Solutions
Collaboration Announcement: JD Health has partnered with Beijing Peak Biology Pharmaceuticals to develop a comprehensive health management solution that encompasses screening, diagnosis, treatment, medication, follow-up, and protection.
Service Enhancement Goals: The collaboration aims to improve health service delivery by integrating digital technology and industrial resources, creating a closed-loop service that spans preventive intervention to rehabilitation management.
3.5
01-18aastocksJD HEALTH Partners with NHC to Launch AI-Driven Clinical Nutrition Solution
AI-Driven Solution Announcement: JD Health, in collaboration with Wenzhou Medical University and China's NHC, unveiled an AI-driven full-process management solution aimed at standardizing clinical nutrition.
Implementation Plans: The solution is ready for large-scale implementation and will be promoted to various healthcare institutions across China in the future.
3.5
01-18aastocksJD HEALTH: Over 1,500 AI Doctor Agents Available in 'AI JD Doctor' System
JD Health's AI Innovations: JD Health has launched an AI health service matrix, featuring the "AI JD Doctor" system with over 1,500 expert AI agents and the "JoyDocBrain" model implemented in various hospitals.
Market Performance: JD Health's stock has seen a decline of 1.786%, with significant short selling activity amounting to $123.13 million and a short selling ratio of 23.081%.
7.5
01-15aastocksJD HEALTH Partners with Haleon to Create a New Ecosystem for Holistic Disease Management and Health Services
Collaboration Agreement: JD Health has signed an agreement with Haleon to enhance their partnership in health management.
Expansion of Services: The collaboration aims to create a comprehensive ecosystem for disease co-management by 2026, covering over 15 health subfields including chronic disease management, child development, and mental health.
Money Flow
Over the past 66 trading days, overall net money flow is 391.00M, with retail investors contributing 2.00M and major investors adding 331.00M.
Net Buy $ Volume
Net Sell $ Volume
Huatai Securities
Huatai Securities
Buy
maintain
2026-01-07
Reason
The analyst rating from Huatai Securities for JD HEALTH is based on several key factors:
1. Revenue Growth: The report predicts a 22.7% year-over-year growth in 4Q25 revenue, driven by increased online penetration in the pharmaceutical category and the company's supply chain advantages.
2. Operating Profit: JD HEALTH is expected to achieve a non-IFRS operating profit of RMB260 million, indicating strong operational performance.
3. Seasonal Factors: The seasonal misalignment of the flu is anticipated to provide short-term support for revenue growth in the last quarter.
4. Long-term Projections: For the entire year of 2025, revenue is expected to increase by 25% year-over-year to RMB72.7 billion, with non-IFRS operating profit reaching RMB4.11 billion.
5. Revised Profit Forecasts: Huatai Securities has raised its non-IFRS net profit forecasts for JD HEALTH for 2025-2027 by significant percentages (11.6%/15.6%/22.4%), reflecting increased confidence in the company's financial performance.
6. Target Price Increase: The target price for JD HEALTH has been raised from HKD68.3 to HKD77.4, reinforcing a positive outlook.
Overall, these factors contribute to Huatai Securities maintaining a "Buy" rating for JD HEALTH.
Huatai Securities
Buy
Price Target
2026-01-07
maintain
The analyst rating from Huatai Securities for JD HEALTH is based on several key factors:
1. Revenue Growth: The report predicts a 22.7% year-over-year growth in 4Q25 revenue, driven by increased online penetration in the pharmaceutical category and the company's supply chain advantages.
2. Operating Profit: JD HEALTH is expected to achieve a non-IFRS operating profit of RMB260 million, indicating strong operational performance.
3. Seasonal Factors: The seasonal misalignment of the flu is anticipated to provide short-term support for revenue growth in the last quarter.
4. Long-term Projections: For the entire year of 2025, revenue is expected to increase by 25% year-over-year to RMB72.7 billion, with non-IFRS operating profit reaching RMB4.11 billion.
5. Revised Profit Forecasts: Huatai Securities has raised its non-IFRS net profit forecasts for JD HEALTH for 2025-2027 by significant percentages (11.6%/15.6%/22.4%), reflecting increased confidence in the company's financial performance.
6. Target Price Increase: The target price for JD HEALTH has been raised from HKD68.3 to HKD77.4, reinforcing a positive outlook.
Overall, these factors contribute to Huatai Securities maintaining a "Buy" rating for JD HEALTH.
CICC
Outperform
maintain
$71.4
2026-01-06
Reason
CICC's analyst rating for JD HEALTH (06618.HK) is based on the expectation of nearly 25% year-over-year revenue growth and a stable, improving trend in operating profit margins, which reflects the company's strong competitive edge. Despite the typical peak investment season in 4Q25, CICC believes the company's performance will remain robust. They have maintained a target price of HKD 71.4 and an Outperform rating, indicating confidence in the company's future performance amidst sector challenges.
CICC
Outperform
Price Target
$71.4
2026-01-06
maintain
CICC's analyst rating for JD HEALTH (06618.HK) is based on the expectation of nearly 25% year-over-year revenue growth and a stable, improving trend in operating profit margins, which reflects the company's strong competitive edge. Despite the typical peak investment season in 4Q25, CICC believes the company's performance will remain robust. They have maintained a target price of HKD 71.4 and an Outperform rating, indicating confidence in the company's future performance amidst sector challenges.
Nomura
Buy
maintain
$80
2026-01-06
Reason
The analyst rating from Nomura for JD HEALTH is based on several positive expectations regarding the company's financial performance. They anticipate a 22% year-over-year increase in revenue for the fourth quarter of FY2025, driven by heightened demand for pharmaceuticals due to a surge in influenza cases. Additionally, they expect improvements in the operating profit margin and significant growth in both operating profit (72% YoY increase) and net profit (27% YoY increase). As a result of these optimistic projections, Nomura raised its earnings forecasts for FY2025 and FY2026 by 1%, maintaining a "Buy" rating and setting a target price of $80.
Nomura
Buy
Price Target
$80
2026-01-06
maintain
The analyst rating from Nomura for JD HEALTH is based on several positive expectations regarding the company's financial performance. They anticipate a 22% year-over-year increase in revenue for the fourth quarter of FY2025, driven by heightened demand for pharmaceuticals due to a surge in influenza cases. Additionally, they expect improvements in the operating profit margin and significant growth in both operating profit (72% YoY increase) and net profit (27% YoY increase). As a result of these optimistic projections, Nomura raised its earnings forecasts for FY2025 and FY2026 by 1%, maintaining a "Buy" rating and setting a target price of $80.
Morgan Stanley
Morgan Stanley
Equalweight
maintain
$60
2025-11-19
Reason
Morgan Stanley raised its target price for JD HEALTH from $60 to $68.8 based on a discounted cash flow valuation, maintaining an Equalweight rating. The increase in target price is attributed to the company's growth in direct sales and service revenue, leading to a 1.4% rise in total revenue forecasts for 2025-2027. Additionally, the expansion of drug sales and a higher proportion of advertising revenue have contributed to an upward trend in the company's gross profit margin. Consequently, Morgan Stanley also elevated its recurring EPS estimations for the upcoming years by 9%, 13%, and 13%.
Morgan Stanley
Equalweight
Price Target
$60
2025-11-19
maintain
Morgan Stanley raised its target price for JD HEALTH from $60 to $68.8 based on a discounted cash flow valuation, maintaining an Equalweight rating. The increase in target price is attributed to the company's growth in direct sales and service revenue, leading to a 1.4% rise in total revenue forecasts for 2025-2027. Additionally, the expansion of drug sales and a higher proportion of advertising revenue have contributed to an upward trend in the company's gross profit margin. Consequently, Morgan Stanley also elevated its recurring EPS estimations for the upcoming years by 9%, 13%, and 13%.
UBS
NULL
to
Buy
upgrade
$85
2025-11-17
Reason
The analyst rating for JD Health (06618.HK) is maintained at "Buy" due to several positive factors highlighted in the UBS research report. The reasons for this rating include:
1. Strong Financial Performance: JD Health's 3Q25 revenue and profit exceeded expectations, with revenue year-over-year growth accelerating from 24.5% in the first half of 2025 to 28.7% in the third quarter.
2. Growth Drivers: The strong growth in drug sales and a significant increase in the health supplement business contributed to the positive financial results. Additionally, the relatively low base in 3Q24 provided a favorable comparison.
3. Earnings Forecast Increase: UBS raised its earnings forecasts for JD Health for the years 2025-2027 by 4-13%, indicating confidence in the company's future performance.
4. Target Price Adjustment: UBS increased its target price for JD Health from $78.5 to $85, based on a 30x FY2027 price-to-earnings ratio, which reflects a positive outlook for the company's growth.
Overall, these factors led UBS to maintain a "Buy" rating on JD Health, suggesting that the stock is expected to perform well in the future.
UBS
NULL
to
Buy
Price Target
$85
2025-11-17
upgrade
The analyst rating for JD Health (06618.HK) is maintained at "Buy" due to several positive factors highlighted in the UBS research report. The reasons for this rating include:
1. Strong Financial Performance: JD Health's 3Q25 revenue and profit exceeded expectations, with revenue year-over-year growth accelerating from 24.5% in the first half of 2025 to 28.7% in the third quarter.
2. Growth Drivers: The strong growth in drug sales and a significant increase in the health supplement business contributed to the positive financial results. Additionally, the relatively low base in 3Q24 provided a favorable comparison.
3. Earnings Forecast Increase: UBS raised its earnings forecasts for JD Health for the years 2025-2027 by 4-13%, indicating confidence in the company's future performance.
4. Target Price Adjustment: UBS increased its target price for JD Health from $78.5 to $85, based on a 30x FY2027 price-to-earnings ratio, which reflects a positive outlook for the company's growth.
Overall, these factors led UBS to maintain a "Buy" rating on JD Health, suggesting that the stock is expected to perform well in the future.
Nomura
Nomura
Buy
maintain
$72 -> $80
2025-11-17
Reason
The analyst rating for JD HEALTH was maintained as "Buy" due to the company's exceptional 3Q25 results, which included a total revenue growth of 29% year-over-year, surpassing the broker's estimate by 4%. Additionally, Nomura raised its earnings forecasts for FY25-26 by 9% and 8%, respectively, and increased the target price from HKD72 to HKD80, reflecting confidence in the company's performance and growth potential.
Nomura
Buy
Price Target
$72 -> $80
2025-11-17
maintain
The analyst rating for JD HEALTH was maintained as "Buy" due to the company's exceptional 3Q25 results, which included a total revenue growth of 29% year-over-year, surpassing the broker's estimate by 4%. Additionally, Nomura raised its earnings forecasts for FY25-26 by 9% and 8%, respectively, and increased the target price from HKD72 to HKD80, reflecting confidence in the company's performance and growth potential.
Morgan Stanley
Morgan Stanley
Equalweight
maintain
$60
2025-11-14
Reason
The analyst rating for JD HEALTH (06618.HK) from Morgan Stanley is an "Equalweight" with a target price of HKD60. This rating is based on the company's strong performance in the third quarter of 2025, where revenue increased by 28.7% year-over-year to RMB17.1 billion, exceeding market expectations. The growth was attributed to robust first-party sales, particularly in pharmaceuticals, and increased advertising revenue from nutritional and health products. Additionally, management's confidence in achieving or surpassing its 2025 annual revenue growth target of 22% and the raised adjusted net profit target to RMB6.2 billion further supports the rating.
Morgan Stanley
Equalweight
Price Target
$60
2025-11-14
maintain
The analyst rating for JD HEALTH (06618.HK) from Morgan Stanley is an "Equalweight" with a target price of HKD60. This rating is based on the company's strong performance in the third quarter of 2025, where revenue increased by 28.7% year-over-year to RMB17.1 billion, exceeding market expectations. The growth was attributed to robust first-party sales, particularly in pharmaceuticals, and increased advertising revenue from nutritional and health products. Additionally, management's confidence in achieving or surpassing its 2025 annual revenue growth target of 22% and the raised adjusted net profit target to RMB6.2 billion further supports the rating.
CLSA
CLSA
Outperform
maintain
$66 -> $71
2025-11-14
Reason
The analyst rating for JD Health (06618.HK) was maintained at "Outperform" due to the company's strong performance in its 3Q25 results, which exceeded expectations in both revenue and profit. The report highlighted a 29% year-over-year growth in total revenue and a 60% increase in adjusted EBIT, driven by robust pharmaceutical sales and health supplement growth. Additionally, the broker raised its adjusted net profit forecasts for 2025 and 2026 by 11% each, reflecting stronger gross profit margin expansion, and increased the target price from HKD 66 to HKD 71.
CLSA
Outperform
Price Target
$66 -> $71
2025-11-14
maintain
The analyst rating for JD Health (06618.HK) was maintained at "Outperform" due to the company's strong performance in its 3Q25 results, which exceeded expectations in both revenue and profit. The report highlighted a 29% year-over-year growth in total revenue and a 60% increase in adjusted EBIT, driven by robust pharmaceutical sales and health supplement growth. Additionally, the broker raised its adjusted net profit forecasts for 2025 and 2026 by 11% each, reflecting stronger gross profit margin expansion, and increased the target price from HKD 66 to HKD 71.
BofA Securities
BofA Securities
Buy
maintain
$71 -> $75
2025-11-14
Reason
The analyst rating for JD Health (06618.HK) is a "Buy" due to the company's strong 3Q25 results, which exceeded expectations with a 29% year-over-year revenue growth and a 60% increase in adjusted operating profit. Additionally, the adjusted operating profit margin reached a historical high of 8%. Despite maintaining conservative expectations for 4Q25, the positive performance led to an increase in the target price from HKD71 to HKD75.
BofA Securities
Buy
Price Target
$71 -> $75
2025-11-14
maintain
The analyst rating for JD Health (06618.HK) is a "Buy" due to the company's strong 3Q25 results, which exceeded expectations with a 29% year-over-year revenue growth and a 60% increase in adjusted operating profit. Additionally, the adjusted operating profit margin reached a historical high of 8%. Despite maintaining conservative expectations for 4Q25, the positive performance led to an increase in the target price from HKD71 to HKD75.
CLSA
upgrade
$64 -> $66
2025-11-11
Reason
The analyst rating from CLSA is based on the expectation that JD HEALTH will achieve significant growth in drug sales and health products, with projected YoY increases of over 30% and 20%, respectively, leading to an overall revenue increase of 25% YoY to RMB16.6 billion for 3Q25. Additionally, the company's plan to expand its store presence and the anticipated rise in adjusted EBIT by over 40% YoY to RMB1.2 billion further supports the positive outlook. Consequently, CLSA raised its target price and maintained an Outperform rating.
CLSA
Price Target
$64 -> $66
2025-11-11
upgrade
The analyst rating from CLSA is based on the expectation that JD HEALTH will achieve significant growth in drug sales and health products, with projected YoY increases of over 30% and 20%, respectively, leading to an overall revenue increase of 25% YoY to RMB16.6 billion for 3Q25. Additionally, the company's plan to expand its store presence and the anticipated rise in adjusted EBIT by over 40% YoY to RMB1.2 billion further supports the positive outlook. Consequently, CLSA raised its target price and maintained an Outperform rating.
Valuation Metrics
Forward PE
N/A
5Y Average PE
77.56
Current PE
0.00
Overvalued PE
183.70
Undervalued PE
-28.57
Forward EV/EBITDA
N/A
5Y Average EV/EBITDA
47.53
Current EV/EBITDA
23.19
Overvalued EV/EBITDA
251.92
Undervalued EV/EBITDA
-156.86
Forward PS
5Y Average PS
3.33
Current PS
2.11
Overvalued PS
6.13
Undervalued PS
0.53
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