On August 21st, influenced by negative news, Hong Kong stock JD.com Group opened lower and closed lower. As of press time, the stock fell more than 10% to HKD 100.3. Previously, the stock fell nearly 12% at one point, marking the largest intraday decline since October last year and ranking first among Hang Seng Technology component stocks in terms of decline.
Wal Mart plans to sell shares of JD worth 3.74 billion dollars
In terms of the US stock market, as of Tuesday local time, JD's stock price fell 4.57% to close at $28.19 per share, and fell about 10% in after hours trading.
On the news, Wal Mart said in the document submitted to the Securities and Exchange Commission that it would reduce its holdings of JD stock, and Wal Mart Department Store planned to sell JD stock at a price of $24.85 to $25.85 per share. According to the source, Wal Mart is seeking to sell 144.5 million shares of JD stock, and Wal Mart can raise 3.74 billion dollars at the highest asking price.
Data shows that Wal Mart is the largest shareholder of JD. According to foreign media reports, Wal Mart said that the decision to sell shares would enable the company to focus on the strong business of Wal Mart China and Sam's Club in China, and deploy funds to other priorities.
Wal Mart also said: "In the past eight years, JD has been our important partner, and we will be committed to maintaining business relations."
JD's US stock fell nearly 10% after trading on Tuesday, and neither company has commented on the matter. According to sources, Morgan Stanley is the broker dealer for this issuance.
JD's Q2 net profit significantly exceeded expectations
Recently, JD Group disclosed its second quarter performance, with a revenue of 291.4 billion yuan, compared to 287.93 billion yuan in the same period last year. Benefiting from the continuous optimization of supply chain efficiency, as of the second quarter, JD Logistics' non GAAP operating profit has achieved profitability for five consecutive quarters, and the non GAAP operating profit margin in the second quarter reached a new high since JD Logistics went public. Based on the improvement of user experience and continuous optimization of supply chain efficiency, JD Group's net profit attributable to common shareholders of listed companies under non US GAAP reached 14.5 billion yuan in the second quarter, a year-on-year increase of 69.0%, with a net profit margin of 5.0%.
On the evening of the financial report announcement, the US stock market JD.com closed up 4.25%. The next day, Hong Kong stock company JD.com closed up 8.91%.
According to a research report by Guohai Securities, the company's profit growth is strong, with net profit and adjusted net profit attributable to shareholders in the second quarter exceeding Bloomberg's consensus expectations, mainly due to JD Logistics' operating profit margin exceeding Bloomberg's consensus expectations. Provide JD Group with a total target market value of RMB 461.6 billion by 2025, corresponding to a target price of RMB 145/HKD 158, and maintain a "buy" rating.