Changes in Hong Kong stocks | JD Health (06618) rose more than 6% in the morning, the company has strong demand for influenza varieties, and institutions expect the year-on-year revenue growth rate last year to be close to 25%

The Zhitong Finance App learned that JD Health (06618) rose more than 6% in the morning. As of press release, it had risen 6.53% to HK$62, with a turnover of HK$411 million.

Nomura released a research report saying that JD Health's performance in the second half of 2025 is expected to be better than market expectations, mainly due to a surge in influenza cases in the fourth quarter of 2025, leading to a rise in drug demand. Nomura estimates that JD Health's revenue for the fourth quarter of 2025 will reach 20 billion yuan, an increase of 22% year-on-year, benefiting from 30%, 20%, and 10% year-on-year sales growth from the pharmaceutical/nutrition/medical equipment business, respectively. The spread of influenza cases in the fourth quarter of 2025 led to related drugs accounting for a high unit percentage of drug sales, as well as sales of medical equipment such as household oxygen concentrators. Meanwhile, nutrition brands continued to implement effective marketing activities in the fourth quarter of 2025, strengthening their steady growth trend.

CICC pointed out that on a quarterly basis in 2025, the bank observed strong performance on the revenue side of JD Health, achieving a year-on-year growth rate of around 25% in a single quarter from 1-3Q25. According to the disclosure announcement at the end of 3Q25, the company signed strategic cooperation agreements with pharmaceutical companies such as Eli Lilly, Cinda Biotech, and Bayer China during the 3Q25 period to continuously strengthen the business characteristics of new drug launches across the entire network. Considering that the trend of continued release of original drugs during the year is still the same, and the demand for influenza prevention and control in winter has gradually increased since 4Q25, the bank determined that 4Q25 is also expected to achieve strong revenue performance. The bank expects the company's revenue growth rate for the full year of 2025 to be close to 25% year-on-year.