Chinese e-commerce giant JD.com Inc. (NASDAQ:JD) looks well-positioned going into its third-quarter results on Thursday, as it comes off a better-than-expected Singles’ Day shopping performance.

Positive Singles’ Day Sales Data

The company reported a record 11.11. Singles’ Day haul with the number of customers making purchases during the unofficial Chinese holiday surging 40% year-over-year, and total order volumes up 60%, despite growing deflationary concerns in China.

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Fund manager Brendan Ahern of KraneShares noted in a post on X that while the company didn’t provide a comprehensive, granular breakdown of its performance during the holiday, the results are “positive nonetheless.”

$JD releases positive Singles Day sales data. Not to deep in the weeds but positive nonetheless. pic.twitter.com/rpwdXL9ljm

— Brendan Ahern (@ahern_brendan) ...