Financial Associated Press, May 10 (Editor Feng Yi) Hong Kong stocks and US-listed stocks will usher in a peak of performance disclosure next week. The recent market continued to rebound, technology stocks outstanding performance, the upcoming earnings season is also seen by the market as one of the key factors affecting the future market.

Due to the high sensitivity of the e-commerce industry to the recovery of consumption, Ali (09988Megawayssistersites.HK) and JD.com (09618MegawayssistersitesHK) will take the lead in the release of financial results on May 13 and May 15.MegawayssistersitesThe market has paid a lot of attention.

Note: recent trend of Hong Kong stocks of Alibaba and JD.com Group

According to a previous report by the overseas team of Tianfeng Securities, from a macro point of view, consumer retail recovered well in the first quarter, recovering to 123% in the same period in 1919.

According to the National Bureau of Statistics, retail sales of consumer goods totaled 12.0327 trillion yuan in the first three months, up 4.7 percent from the same period last year, while online retail sales nationwide totaled 3.3082 trillion yuan, up 12.4 percent from the same period last year. In addition, the logistics end in the first quarterMegawayssistersitesThe volume of express delivery in China increased by 25.2% over the same period last year.

Taken together, the above data guide the e-commerce industry to maintain revenue growth in the first quarter, and the growth rate is higher than that of the retail market.

However, due to the strong entry of live e-commerce platforms such as Douyin and Kuaishou, as well as the continuous rise of pinduoduo in recent years. Despite the recovery of the e-commerce market, the challenges faced by Ali and JD.com in the first quarter are still severe.

Guohai Securities expects Alibaba's revenue in the first quarter of this year to reach 219.8 billion yuan, up 6% from the same period last year, but adjusted EBITA fell 2% to 24.8 billion yuan, while JD.com 's total revenue in the first quarter was 258.2 billion yuan, up 6.3% from the same period last year. Non-US general criteria for homing net profit was 7.5 billion yuan, down 1.5% from the same period last year.

Guoxin Securities estimates that Alibaba's revenue in the first quarter was 219.744 billion yuan, up 6% from the same period last year, and the net profit attributable to shareholders under non-US accounting standards was 25.293 billion yuan, down 8% from the same period last year. JD.com 's revenue in the first quarter was 251.6 billion yuan, up 4% from the same period last year, and 7.548 billion yuan belongs to shareholders under non-US accounting standards, down 1.5% from the same period last year.

It can be seen that from the institutional perspective, the performance prospects of Ali and JD.com in the first quarter are more cautious.

Previously released reports by Huachuang Securities analysts Wang Weina and Yao Jing also showed that according to the GMV growth rate of the major e-commerce platforms in the first quarter, Ali Taotian, JD.com and pinduoduo were 15%, 29% and 21% respectively. In contrast, the GMV growth rates of the two live e-commerce platforms Douyin and Kuaishou were 45% and 38% over the same period, much higher than traditional e-commerce.