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2026-05-13 12:10:10 HSBC Research said in a report that JD HEALTH (06618.HK)'s supplement business slowed in April due to tighter regulation, but signs of recovery emerged in May. The broker believes the slowdown in supplement demand is only temporary. It also noted that JD HEALTH's newly announced dual share buyback plan supports valuation. As a result, it slightly lowered the TP from HKD80 to HKD79.5 and maintained a Buy rating, while remaining confident in its long-term revenue growth. The report stated that JD HEALTH's revenue in 1Q26 rose 17% YoY, in line with market expectations. The pharmaceutical business continued to lead growth, increasing 25% YoY. The broker observed that the supplement segment, particularly functional supplements from international brands, was affected. However, JD HEALTH will focus on providing more reliable evidence of product efficacy and leverage its exposure to the basic supplement category, where sales performance has remained resilient. (ad/da)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |