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JD’s shares may have also gained because the company did not provide guidance in its latest earnings report, while its competitor, Alibaba (NYSE:BABA) Group Holding Limited (BABA), provided weaker-than-expected guidance for its fiscal 2022.
This month, JD was fined by China’s State Administration for Market Regulation for “failing to declare illegal implementation of operating concentration.” Also, JD warned that slowing consumption amid higher input costs could hurt business in the second half of its fiscal year. So, its near-term prospects look bleak.
