0847 GMT - JD.com's earnings might continue to improve this year, HSBC analysts say in a research note. The retail segment's wider margin was the driver of higher-than-expected earnings in the first quarter, they note. "Continued margin improvement on JD retail and narrowing of food-delivery losses can improve visibility on 2026 earnings recovery," they note. While top-line growth in 2Q might be damped by a high base effect for electronics sales due to government subsidies last year, 2H growth could recover on favorable comparisons and more resilient growth in general merchandise such as healthcare, they say. HSBC keeps a buy rating on the stock and raises its target price to US$37.00 from US$35.00. JD's ADRs last traded at US$31.49. (tracy.qu@wsj.com)

(END) Dow Jones Newswires

May 13, 2026 04:47 ET (08:47 GMT)

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