智通财经APP获悉，京东健康(06618)涨超3%，截至发稿，涨3.5%，报63.6港元，成交额2.41亿港元。
大摩发布研报指出，预期京东健康第三季度收入按年增约24%，主要是受到自有药品销售强劲(尤其是慢性病领域)、营养产品超出预期支持，而医疗器械销售应符合预期。大摩续指，京东健康广告收入增长速度应持续比产品销售更快，支持利润率进一步改善。凭借营运杠杆、严谨执行，以及线下投资可能低于先前预期(比之前预期少1亿元人民币)，看到当前对2025财年收入预测增长20%、调整后营业利润35亿元人民币及调整后净利润53亿元人民币，存在上行空间。
大摩认为，京东健康线下投资与报销范围扩大为关键焦点领域，其持续扩张线下业务，第三季度开设50多家药房门市，并计划第四季度新增约150家门市。值得注意，京东线上药房现已于7个城市(之前3个)获得部分OTC(非处方)药个别帐户报销资格，包括北京、深圳、广州、东莞、沈阳、合肥及济南，视此为未来数年更广泛覆盖的鼓舞性一步。
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