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JD Health International, Inc. (HK:6618)
:6618
Hong Kong Market
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JD Health International, Inc. (6618) AI Stock Analysis

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HK:6618

JD Health International, Inc.

(6618)

Rating:79Outperform
Price Target:
HK$55.00
▲(14.23%Upside)
JD Health International, Inc. scores highly due to its strong financial performance and positive earnings call sentiment, which highlight significant revenue growth and strategic expansions. The technical analysis suggests current overbought conditions, and the valuation indicates potential risks due to high expectations.

JD Health International, Inc. (6618) vs. iShares MSCI Hong Kong ETF (EWH)

JD Health International, Inc. Business Overview & Revenue Model

Company DescriptionJD Health International Inc., an investment holding company, operates an online healthcare platform in the People's Republic of China. It offers pharmaceutical and healthcare products, including OTC drugs, prescription drugs, and medical devices and supplies, as well as health supplements and tonics through direct selling and an online retail pharmacy network. The company also provides online healthcare services, online consultation, hospital or doctor referral, health check-ups, genetic testing, and beauty care services; health management and intelligent healthcare solutions, as well as technical and advertising services. In addition, it offers access to medical checkups, medical aesthetics, vaccination appointments, dental care services, and nucleic acid testing tests. The company was incorporated in 2018 and is headquartered in Beijing, the People's Republic of China. JD Health International Inc. is a subsidiary of JD Jiankang Limited.
How the Company Makes MoneyJD Health International, Inc. generates revenue primarily through its online pharmacy platform, which sells a vast array of pharmaceutical and healthcare products directly to consumers. The company also earns income by offering online medical consultation services, where users can pay for virtual consultations with healthcare professionals. Additionally, JD Health leverages its platform to offer health management services and personalized wellness programs, contributing to its revenue streams. Strategic partnerships with hospitals, clinics, and pharmaceutical companies further enhance its service offerings and expand its customer base, driving additional revenue growth.

JD Health International, Inc. Earnings Call Summary

Earnings Call Date:Mar 06, 2025
(Q4-2024)
|
% Change Since: 24.58%|
Next Earnings Date:Aug 26, 2025
Earnings Call Sentiment Positive
JD Health demonstrated strong performance in 2024 with significant revenue growth and expansion in AI and B2C leadership. Despite some increases in expenses and slower direct sales growth, the company's strategic initiatives and robust service revenue highlight a positive outlook.
Q4-2024 Updates
Positive Updates
Robust Revenue Growth
JD Health achieved a full year revenue of RMB58.16 billion in 2024, up 8.6% year-over-year, with significant growth in pharmaceutical sales and non-pharmaceutical segments.
Expansion of B2C Leadership
The company solidified its B2C leadership by increasing its omnichannel initiatives and leadership in pharmaceuticals, with a focus on imported drugs and innovative treatments.
AI Innovations
JD Health launched Jingyi Qianxun, a large language model, and other AI-powered tools to enhance doctor productivity and user experience, aiming for AI-powered transformation in healthcare.
Increased Service Revenue
Service revenue surpassed RMB9.36 billion for the year, marking an 18.9% increase year-over-year, with significant contributions from platform commissions and advertising revenue.
High-Quality Active User Base
The annual active user count exceeded 183 million, with an average daily online consultation volume of over 498,000, demonstrating strong user engagement.
Negative Updates
Increased Fulfillment and Marketing Expenses
The fulfillment expenses ratio increased by 15 basis points to 10.2%, and the selling and marketing expense ratio increased by 30 basis points to 5.2% in 2024.
Slow Growth in Direct Sales
Direct sales revenue grew by 6.9% year-over-year, which, while positive, indicates slower growth compared to other segments like service revenue.
Company Guidance
During the JD Health International 2024 Annual Results Conference Call, the company reported a full-year revenue of RMB58.16 billion, marking an 8.6% year-over-year increase. Excluding the pandemic-related high comparison base from the first quarter, revenue growth in the second to fourth quarters was 13.4% year-over-year. The annual active user count exceeded 183 million, with over 498,000 average daily online consultations. JD Health's direct sales revenue was RMB48.8 billion, a 6.9% increase from the previous year, driven by strong performance in pharmaceuticals. Service revenue for 2024 reached RMB9.36 billion, growing 18.9% year-over-year and comprising 16.1% of total revenue. The company's gross profit margin improved by 17 basis points to 22.9%, and non-IFRS net profit rose by 15.9% to RMB4.8 billion, achieving a margin of 8.2%. JD Health continued to enhance its omnichannel and AI initiatives, maintaining a robust cash position with RMB59.42 billion in reserves by year-end.

JD Health International, Inc. Financial Statement Overview

Summary
JD Health International, Inc. has demonstrated strong revenue growth, improved profitability, and a robust balance sheet. The company effectively manages its debt levels and exhibits solid cash flow generation, supporting its operations and growth initiatives.
Income Statement
85
Very Positive
JD Health International, Inc. has demonstrated strong revenue growth over the years, with a notable increase from 2019 to 2024. Gross profit margins have remained healthy, reflecting efficient cost management. The net profit margin has improved significantly, turning from losses in earlier years to profitable outcomes in recent periods, showcasing strong profitability. EBIT and EBITDA margins have shown positive trends, indicating enhanced operational efficiency.
Balance Sheet
80
Positive
The company's balance sheet is robust, characterized by a high equity ratio, which indicates strong financial stability and low reliance on debt. The debt-to-equity ratio is low, suggesting prudent financial management and reduced financial risk. Return on equity has improved significantly, reflecting better utilization of shareholders' funds.
Cash Flow
78
Positive
JD Health International exhibits a solid cash flow position, with consistent operating cash flow generation. Free cash flow growth has been positive, indicating strong cash generation capabilities. The operating cash flow to net income ratio is healthy, underscoring efficient cash conversion. However, a slight decline in operating cash flow compared to the previous year is a point of concern.
BreakdownDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue58.16B53.53B46.74B30.68B19.38B
Gross Profit13.31B11.87B9.89B7.20B4.92B
EBITDA1.38B2.93B-60.93M-1.37B364.50M
Net Income4.16B2.14B380.11M-1.07B-17.23B
Balance Sheet
Total Assets71.27B64.29B61.28B48.00B43.99B
Cash, Cash Equivalents and Short-Term Investments51.24B41.22B47.67B41.99B40.30B
Total Debt258.39M214.75M199.41M201.27M89.98M
Total Liabilities16.03B14.92B16.49B8.15B4.74B
Stockholders Equity55.23B49.36B44.78B39.85B39.25B
Cash Flow
Free Cash Flow4.29B4.54B5.86B2.93B3.68B
Operating Cash Flow4.33B4.60B5.91B3.43B3.70B
Investing Cash Flow3.15B-8.02B-4.24B-17.75B-7.84B
Financing Cash Flow-45.61M-117.20M-925.45M-163.65M32.03B

JD Health International, Inc. Technical Analysis

Technical Analysis Sentiment
Positive
Last Price48.15
Price Trends
50DMA
42.39
Positive
100DMA
38.73
Positive
200DMA
34.25
Positive
Market Momentum
MACD
1.95
Negative
RSI
70.06
Negative
STOCH
86.72
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:6618, the sentiment is Positive. The current price of 48.15 is above the 20-day moving average (MA) of 44.85, above the 50-day MA of 42.39, and above the 200-day MA of 34.25, indicating a bullish trend. The MACD of 1.95 indicates Negative momentum. The RSI at 70.06 is Negative, neither overbought nor oversold. The STOCH value of 86.72 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:6618.

JD Health International, Inc. Peers Comparison

Overall Rating
UnderperformOutperform
Sector (52)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
79
Outperform
HK$154.09B33.547.98%6.51%88.28%
74
Outperform
HK$10.49B16.419.30%7.28%-13.77%
70
Outperform
HK$8.76B27.1013.13%0.03%28.02%19.41%
69
Neutral
HK$9.00B28.652.78%1.81%-1.04%-20.43%
68
Neutral
HK$1.75B5.4324.13%4.09%-3.85%-19.28%
57
Neutral
HK$585.19M35.211.07%5.08%-1.20%-87.51%
52
Neutral
$7.63B0.11-62.96%2.08%16.16%0.31%
* Healthcare Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
HK:6618
JD Health International, Inc.
48.15
27.10
128.74%
HK:1526
Rici Healthcare Holdings Ltd.
1.10
-0.11
-9.09%
HK:1951
Jinxin Fertility Group Ltd.
3.28
0.85
34.98%
HK:2273
Gushengtang Holdings Limited
37.10
3.88
11.68%
HK:3689
Guangdong Kanghua Healthcare Co., Ltd. Class H
1.75
-0.79
-31.10%
HK:6078
Hygeia Healthcare Holdings Co., Ltd.
16.92
-5.88
-25.79%

JD Health International, Inc. Corporate Events

JD Health Grants Over 800,000 Award Shares to Employees
Jul 1, 2025

JD Health International, Inc. announced the grant of 834,433 Award Shares to its employees under the Post-IPO Share Award Scheme, representing approximately 0.03% of the total issued shares. The shares will vest over various periods ranging from 0.25 to 4 years, with no performance targets attached. This move aims to incentivize employees and align their interests with the company’s growth, potentially enhancing employee retention and satisfaction.

The most recent analyst rating on (HK:6618) stock is a Buy with a HK$31.00 price target. To see the full list of analyst forecasts on JD Health International, Inc. stock, see the HK:6618 Stock Forecast page.

JD Health International Secures Shareholder Approval at AGM
Jun 20, 2025

JD Health International, Inc. announced the successful passing of all proposed resolutions at its Annual General Meeting held on June 20, 2025. The resolutions included the adoption of financial statements, re-election of directors, and granting of mandates for share issuance and repurchase. This outcome reflects strong shareholder support and positions the company for continued strategic initiatives and governance stability.

The most recent analyst rating on (HK:6618) stock is a Buy with a HK$31.00 price target. To see the full list of analyst forecasts on JD Health International, Inc. stock, see the HK:6618 Stock Forecast page.

JD Health Reports Strong Q1 2025 Growth and AI Advancements
May 13, 2025

JD Health International Inc. has announced significant advancements in its operations during the first quarter of 2025. The company launched several innovative drugs online and strengthened partnerships with major healthcare product companies to expand its product offerings and market reach. Additionally, JD Health made strides in medical AI, introducing the ‘AI Jingyi’ system and open-sourcing its ‘Jingyi Qianxun’ LLM, which have been well-received by healthcare professionals. Financially, the company reported a 25.5% increase in revenue and a 47.7% rise in non-IFRS profit compared to the same period in 2024, indicating strong growth and operational success.

The most recent analyst rating on (HK:6618) stock is a Buy with a HK$46.30 price target. To see the full list of analyst forecasts on JD Health International, Inc. stock, see the HK:6618 Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jul 22, 2025