CICC: Maintains "Outperform" rating for JD Health (06618) with a target price of HKD 66.2.

Zhitong Finance APP has learned that CICC has released a research report stating that, considering the company's overall profit output continues to improve, it has raised the non-IFRS net profit estimates for JD Health (06618) by 5%/3% to 6.73 billion/7.01 billion yuan for 2026 and 2027. Given that the "siphoning effect" in the hard technology sector may be weakening since July, the mid-term valuation of the sector is expected to continue to recover, but it may still experience short-term fluctuations. The firm values the company based on a 20x EV/non-IFRS EBIT for 2026 (currently trading at a 7x EV/non-IFRS EBIT) and maintains the target price at HKD 66.2 (with an upside potential of 67.5%), reiterating its "outperform" rating in the industry.