智通财经APP获悉，中信建投发布研报称，维持京东集团-SW(09618)“买入”评级，给予目标价193.07港元，对应集团2026年12倍PE。另预计2025、2026年公司收入分别为13243亿元和13951亿元人民币，同比增长14.28%和5.34%，Non-GAAP净利润分别为281.66亿元和467.97亿元人民币。
该行预计，京东2025Q3收入同比增长13.5%至2955.39亿元，Non-GAAP净利润为44亿元，对应净利率为1.49%，去年同期为5.06%。本季度日百品类景气延续，增速继续维持高位。利润端，预计零售主业利润好于预期。关注京东外卖单量、UE、投入持续性，以及在国补退坡的大背景下今年京东双11增长情况。
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