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Online healthcare platform under JD.com offering e-pharmacy, telemedicine and health services.
Online healthcare platform under JD.com offering e-pharmacy, telemedicine and health services.
Mostly buys medicines and health products from suppliers and resells them to consumers online, earning the retail margin, with smaller income from marketplace commissions, advertising and online consultations. JD.com is the controlling shareholder, and its logistics network delivers the orders.
In one line: A Chinese Amazon Pharmacy/Teladoc hybrid.
Moat: narrow (scale, distribution, installed base). Leverages JD.com's logistics/fulfillment network for fast drug delivery, a scale advantage over standalone e-pharmacies.
Headquarters: Beijing, China · Founded: 2014 · Employees: 5,263
Size Jd Health (6618.HK) is a Hong Kong Health Care company (Drugstore Chains) with a market value of $17.6B, the 101st largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$43.26 on 6 Nov 2026.
Performance Over six months the shares fell 7.2%, against -2.4% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 7th lowest of 21 in its peer set.
Growth Revenue grew 25.8% over the last twelve months (peer median +24.6%); the operating margin is 6.2% (peer median 17.1%).
Valuation It trades at 19.4× forward earnings against a peer median of 22.9× (8th cheapest of 20).
Price implies For today's price to make sense, revenue must grow about 8% a year for seven years (Req g). Recent delivered growth is +30%, so the hurdle is -21 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 17.8 points above its cost of capital (12.4% WACC).
Next results Next results expected around 29 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$88.4B | HK$79.6B | HK$63.1B | HK$59.2B | HK$54.3B |
| Revenue growth | — | +26% | +7% | +9% | — |
| Gross profit | HK$22.4B | HK$19.7B | HK$14.4B | HK$13.1B | HK$11.5B |
| EBITDA | HK$5.84B | HK$4.42B | HK$1.49B | HK$948M | -HK$5.17M |
| Net income | HK$6.96B | HK$5.83B | HK$4.51B | HK$2.37B | HK$442M |
| Free cash flow | HK$9.36B | HK$10.9B | HK$4.64B | HK$5.00B | HK$6.81B |
| Capital expenditure | HK$230M | HK$164M | HK$50.3M | HK$76.6M | HK$2.64B |
| Total debt | n/a | HK$708M | HK$275M | HK$241M | HK$895M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Jd Health 6618.HK | $17.6B | -7% | +26% | 6% | 19.4× | 8.5% |
| Ali Health 0241.HK | $6.39B | -33% | +14% | 5% | 20.9× | 23.9% |
| Ping An Healthcare and Technology 1833.HK | $1.63B | -47% | +8% | 3% | 40.1× | 15.0% |
| Yifeng Pharmacy Chain 603939.SS | $4.91B | +17% | +5% | 10% | 17.2× | -9.2% |
| DaShenLin Pharmaceutical 603233.SS | $3.80B | +15% | +7% | 8% | 16.6× | -9.0% |
| LBX Pharmacy Chain Joint Stock 603883.SS | $1.69B | +7% | +3% | 5% | 16.3× | -10.9% |
Peer set: Sector in the same market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 6618.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +22.4% | -7.4% | highest of 21 |
| 6-month return | -7.2% | -2.4% | 7th lowest of 21 |
| Distance from 52-week high | -39.7% | -23.8% | 5th lowest of 21 |
| Revenue growth (TTM) | +25.8% | +24.6% | 9th highest of 21 |
| Operating margin | 6.2% | 17.1% | 6th lowest of 21 |
| Forward P/E | 19.4× | 22.9× | 8th cheapest of 20 |
| Growth the price implies (Req g, 7 yrs) | 8.5% | 11.0% | 6th least demanding of 17 |
| Growth delivered (Del g) | +29.6% | +15.9% | 5th highest of 17 |
| Hurdle (Req g minus delivered) | -21.2 pp | -9.4 pp | 3rd least demanding of 17 |
| ROIC minus cost of capital | +17.8 pp | +2.9 pp | 8th highest of 21 |
| EV / EBITDA | 14.1× | 18.3× | 4th cheapest of 11 |
| Net debt / EBITDA | -9.6× | -1.8× | least indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Jd Health 6618.HK | Hong Kong | $17.6B | -7% | +26% | 6% | 19.4× | 8.5% | +29.6% |
| Innovent Biologics 1801.HK | Hong Kong | $19.2B | -5% | +43% | 17% | 53.3× | 11.7% | +26.8% |
| Sichuan Kelun-Biotech Biopharmaceutical 6990.HK | Hong Kong | $13.9B | 0% | +44% | -38% | 1,255.9× | 56.2% | +33.7% |
| Sbp 1177.HK | Hong Kong | $12.7B | +4% | +15% | 30% | 18.3× | -5.4% | +5.4% |
| Wuxi Bio 2269.HK | Hong Kong | $25.0B | +43% | +22% | 32% | 28.7× | 21.8% | +30.2% |
| Cspc Pharma 1093.HK | Hong Kong | $12.4B | +5% | +25% | 28% | 9.3× | -10.3% | +0.1% |
| Hansoh Pharma 3692.HK | Hong Kong | $26.9B | -7% | +25% | 38% | 27.5× | 8.9% | +10.8% |
| WuXi XDC Cayman 2268.HK | Hong Kong | $11.4B | +23% | +42% | 28% | 39.5× | 22.0% | +126.4% |
| Pharmaron Beijing 3759.HK | Hong Kong | $11.3B | +45% | +24% | 14% | 22.9× | n/a | n/a |
| Akeso 9926.HK | Hong Kong | $10.2B | -38% | +42% | -25% | n/a | n/a | n/a |
| Genscript Biotech 1548.HK | Hong Kong | $8.81B | +96% | +53% | 12% | 297.9× | 36.5% | +19.8% |
| Shanghai Fosun Pharmaceutical (Group) 2196.HK | Hong Kong | $8.69B | -10% | +10% | 6% | 10.4× | 20.5% | +5.8% |
| Shanghai Pharmaceuticals 2607.HK | Hong Kong | $8.48B | -7% | +9% | 3% | 6.6× | -10.3% | +7.4% |
| Asymchem Laboratories (Tianjin) 6821.HK | Hong Kong | $8.19B | +22% | +24% | 17% | 29.2× | n/a | n/a |
| RemeGen 9995.HK | Hong Kong | $6.92B | -31% | +293% | 61% | 7.4× | -4.8% | +57.9% |
| Sinopharm 1099.HK | Hong Kong | $6.83B | -4% | +3% | 3% | 6.3× | -8.1% | +4.0% |
| Ali Health 0241.HK | Hong Kong | $6.39B | -33% | +14% | 5% | 20.9× | 23.9% | +16.2% |
| Jiangsu Hengrui Pharmaceuticals 1276.HK | Hong Kong | $48.8B | -20% | +11% | 27% | 32.1× | 10.2% | +2.0% |
| Hangzhou Tigermed Consulting 3347.HK | Hong Kong | $5.65B | -1% | +22% | 10% | 71.8× | 28.3% | +15.6% |
| 3SBio 1530.HK | Hong Kong | $4.92B | -34% | +102% | 61% | 13.7× | n/a | n/a |
| Wuxi Apptec 2359.HK | Hong Kong | $66.3B | +40% | +38% | 44% | 20.4× | 8.7% | +20.4% |