Corporate ActionsWalmart has sold all of its JD stake (144.5mn ADS) at US$24.95 per ADS, implying an 11.5% discount to its last ADR close price.
Financial PerformanceNet product revenues stayed flattish YoY at RMB233.9b in 2Q, decelerating from 6.6% YoY growth in 1Q24, dragged by declined electronic product sales.
Market DynamicsPotential market share loss when competitors ramp up subsidies and promotions.