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Pre-IPO JD Industrials - Thoughts on Valuation, IPO Pricing, and the Outlook
Xinyao has highlighted this Insight as a Top Pick
513 Views08 Dec 2025 08:55
JD Industrials IPO priced at reasonable valuation range of 1.28-1.56x P/S based on 2025 forecast, balancing industry leadership premium with challenges.Future depends on addressing fundamental issues
What is covered in the Full Insight:
- Introduction to JD Industrials IPO
- Valuation Analysis
- Comparison with Peers
- Challenges in B2B E-commerce
- Conclusion and Outlook
Boomeranged on Thu, 11 Dec 2025 08:00
The IPO pricing of JD Industrials (HK$14.1/share) is in line with our analysis and is fairly priced in our view. However, as analyzed in the insight, valuation performance after IPO still depends on whether JD Industrials can solve fundamental issues such as low profit margin, independence within JD Group ecosystem and "its own shortcomings". In other words, the upside may be lower than expected..
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