On May 28, JD Health fell 3.02% in regular trading, trading at HK$38.66/share, with trading volume of HK$59.45 million. The stock extended its multi-day selloff amid tightening regulations on online prescription drug sales.

On May 25, China's National Medical Products Administration issued the Compliance Guidelines for Online Retail of Prescription Drugs, requiring real prescriptions, real-name sales, and prohibiting AI from replacing licensed pharmacists in prescription review. The guidelines also ban platforms from guiding consumers toward excessive or unreasonable drug use. The regulation specifically targets GLP-1 weight-loss drugs such as semaglutide and tirzepatide, which since May 15 require valid hospital paper prescriptions for purchase, restricting internet hospital-issued prescriptions.

JD Health has conducted share buybacks for seven consecutive trading days since May 15, repurchasing a total of 11.61 million shares worth HK$474 million. Despite the aggressive buyback program, the stock has declined approximately 18% during the same period, reflecting sustained investor concerns over the regulatory impact on its core online pharmacy business.

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