HKG:7618

GuoSen Securities Starts Jingdong Industrials at Outperform with HK$21.15 Price Target

Jingdong Industrials' Profit Jumps 45% in Q1; Share Buyback Planned

Jingdong Industrials (HKG:7618) recorded a 45% rise in profit for the first quarter to 185.1 million yuan from 127.7 million yuan a year prior, according to a Tuesday Hong Kong bourse filing.The industrial supply chain services group's revenue for the three months ended March 31 jumped 25% to 5.66 billion yuan from 4.52 billion yuan in the prior-year period.The company is also planning to buy back up to $200 million of shares from the open market over 24 months, subject to approval, according to a separate same-day stock exchange filing.