{"id":7315,"date":"2023-05-11T12:02:10","date_gmt":"2023-05-11T16:02:10","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/jd-com-beats-estimates-in-q1\/"},"modified":"2023-05-11T12:02:11","modified_gmt":"2023-05-11T16:02:11","slug":"jd-com-beats-estimates-in-q1","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=7315","title":{"rendered":"JD.com Beats Estimates In Q1"},"content":{"rendered":"<div>\n<h3 class=\"subhead3-embed color-body bg-base font-accent font-size text-align\">Key News<\/h3>\n<p>Asian equities were mixed overnight on lower volumes as growth stocks outperformed value.<\/p>\n<p>E-Commerce company JD.com beat analyst expectations in its Q4 results, reported overnight. While JD\u2019s percentage increases year-over-year (YoY) are not large, the key was management\u2019s statement that Q2 gross merchandise value (GMV) is rising faster than in Q1. This is due to China\u2019s consumers coming back online slowly as confidence is rebuilt following the repeal of China&#8217;s zero COVID policy. JD.com is focused on electronics and big-ticket items, which have come back slower than luxury goods, restaurants, hotels, and other services. Management did a good job keeping costs down, which led to a pop in profitability. JD&#8217;s CEO Xu Lei will leave the company for \u201cpersonal reasons\u201d after a little more than a year on the job though he spent a decade with JD. The new CEO Sandy Xu served as JD&#8217;s CFO after two decades with PWC.<\/p>\n<ul>\n<li>Revenue increased +1.4% YoY to RMB 243B ($35.4B) versus analyst expectations of RMB 240B<\/li>\n<li>Adjusted Net Income increased to RMB 7.9B ($1.4B) from RMB 4.7B YoY versus analyst expectations of RMB 5.3B.<\/li>\n<li>Adjusted EPS increased to RMB 4.76 ($0.69) from RMB 2.53<\/li>\n<\/ul>\n<p>Today is MSCI\u2019s Semi-Annual Index Review will be announced with multiple \u201crefreshes\u201d to their indices. At month end, tonight\u2019s announcement will provide the recipe for the refreshed benchmarks as index funds and ETFs need to trade their MSCI benchmarked funds in order to match the refreshed index. There has been a fair amount of chatter Full Truck Alliance (YMM US) could be added to MSCI indices. We\u2019ll find out tonight!<\/p>\n<p><fbs-ad position=\"inread\" progressive=\"\" ad-id=\"article-0-inread\" aria-hidden=\"true\" role=\"presentation\"><\/fbs-ad><\/p>\n<p>Alibaba, among other internet names, got a significant boost from JD.com\u2019s positive Q1 results. Online car dealer Autohome also reported better-than-expected results for Q1 on China\u2019s surging car sales year-to-date, which were also exhibited yesterday in Li Auto\u2019s results.<\/p>\n<p>China released April credit data overnight. Inflation continues to fall in China from already low levels. This would have been seen as a positive, though markets were tepid due to slowing loan growth from March. Nonetheless, China\u2019s low CPI and positive M2 growth stands in stark contrast to Western economies. Theoretically, this creates a favorable environment for equities, though economics takes time to translate in stock performance, evidently. Slowing loan growth may mean more fiscal stimulus, which would be positive for markets.<\/p>\n<p>Softbank\u2019s latest financial results weren\u2019t 100% clear, but they alluded to the fact that they may no longer be a shareholder in Alibaba after having sold shares through forward contracts. If so, the removal of a significant seller removes a significant overhang on the stock. These are things that happen at the bottom, which is why I am writing down today\u2019s date: May 11th, 2023.<\/p>\n<p>US-listed China stocks were weaker yesterday on the results of US Public Company Accounting Oversight Board (PCAOB) inspections in China as some sources noted \u201cchallenges\u201d in their review. But there were no challenges in terms of access. Yes, audit firms will need to improve their processes to satisfy the PCAOB review, which will be positive in the long run. This morning, the PCAOB further clarified that remediation will take place to fix the deficiencies. Meanwhile, the China Securities Regulatory Commission (CSRC) reiterated its willingness to work constructively with the PCAOB and protect the interests of global investors. The PCAOB has done an excellent job articulating their thorough process!<\/p>\n<p>On the geopolitical front, Biden said to reporters that he may call Xi soon. Meanwhile, China\u2019s foreign minister Qin Gang had a meeting with his counterpart in France on Wednesday. There is also talk that Biden and Xi may meet at the upcoming APEC conference. In my book, these are green shoots for US-China political relations.<\/p>\n<p>The Hang Seng and Hang Seng Tech indexes diverged to close -0.09% and 1.34%, respectively, overnight, on volume that decreased -2% from yesterday. Mainland investors net purchased $268 million worth of Hong Kong stocks via Southbound Stock Connect.<\/p>\n<p>Shanghai, Shenzhen, and the STAR Board diverged to close -0.29%, 0.17%, and 0.03%, respectively, overnight on volume that decreased -12% from yesterday. Foreign investors net purchased $4 million worth of Mainland stocks via Northbound Stock Connect.<\/p>\n<p><strong>Upcoming Event<\/strong><\/p>\n<p>Join us today at 12:15 pm PDT\/3:15 pm EDT for our virtual conference:<\/p>\n<p><strong>KraneShares 2nd Annual West Coast Virtual Investment Forum: Investing in a Changing World<\/strong><\/p>\n<p>Click here to register<\/p>\n<p><em> <\/em><strong><em>5.5 CFP &amp; CIMA CE Credits Available<\/em><\/strong><\/p>\n<h3 class=\"subhead3-embed color-body bg-base font-accent font-size text-align\">Last Night&#8217;s Performance<\/h3>\n<h3 class=\"subhead3-embed color-body bg-base font-accent font-size text-align\">Last Night\u2019s Exchange Rates, Prices, &amp; Yields<\/h3>\n<ul>\n<li>CNY per USD 6.94 versus 6.93 yesterday<\/li>\n<li>CNY per EUR 7.57 versus 7.61 yesterday<\/li>\n<li>Yield on 1-Day Government Bond 1.37% versus 1.37% yesterday<\/li>\n<li>Yield on 10-Year Government Bond 2.70% versus 2.72% yesterday<\/li>\n<li>Yield on 10-Year China Development Bank Bond 2.87% versus 2.89% yesterday<\/li>\n<li>Copper Price -3.33% overnight<\/li>\n<\/ul>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.forbes.com\/sites\/brendanahern\/2023\/05\/11\/jdcom-beats-estimates-in-q1\/\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key News Asian equities were mixed overnight on lower volumes as growth stocks outperformed value. E-Commerce company JD.com beat analyst expectations in its Q4 results, reported overnight. While JD\u2019s percentage increases year-over-year (YoY) are not large, the key was management\u2019s statement that Q2 gross merchandise value (GMV) is rising faster than in Q1. This is [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7316,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-7315","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>JD.com Beats Estimates In Q1 | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Key News Asian equities were mixed overnight on lower volumes as growth stocks outperformed value. 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