On June 24, JD.com (09618.HK) declined 3.06% in regular trading, trading at HK$99.65 per share, with turnover of HK$194 million.

On the news front, Daiwa Securities downgraded JD.com's US-listed shares from \"buy\" to \"hold\" and sharply cut its price target from $47 to $27 per share, signaling significantly reduced confidence in the company's near-term outlook. Trading volume on the US listing exceeded 5.7 million shares.

The downgrade compounds ongoing market concerns over lackluster GMV growth expectations for JD.com's 618 shopping festival. While the company reported record-high order user numbers, analysts have questioned the quality of growth. Additionally, founder Liu Qiangdong's recently disclosed \"Nirvana Plan\" — a full-scale initiative to replace delivery personnel with robots and retrain approximately 700,000 blue-collar workers — has raised investor concerns over long-term execution costs and workforce transition risks, adding further pressure to the stock.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)