JD.com Quarterly Report Illustration: Operating profit of 5 billion, more than 70% of new users from low-tier cities

JD today reported net income of 134.8 billion yuan, up 28.7 percent year-on-year. JD’s operating profit in the third quarter was $5 billion. Operating cash flow in the past 12 months increased to 30.8 billion yuan (about $4.3 billion) in the 12 months ended September 30, 2019, compared with 18.2 billion yuan in the same period a year earlier.

Excluding the impact of JD baitiao in JD.com, JD’s free cash flow for the past 12 months rose to 15.6 billion yuan (about $2.2 billion) in the 12 months ended September 30, 2019, compared with 5.5 billion yuan for free cash flow in the same period a year earlier.

As of September 30, 2019, JD’s active purchases grew to 334.4 million in the past 12 months. As of June 30, 2019, JD had 321.3 million active purchases in the past 12 months. In September 2019, monthly active users of JD mobile increased by 36% over the same period of last year.

In the third quarter of 2019, more than 70% of JD’s new users came from low-tier cities.

In September, as part of the development of the sinking market strategy, the social e-commerce platform “Jingxi” went live. Consumers can access Jingxi through independent Jingxi app, Beijing Xi small program, WeChat first-level entrance and other channels to access Jingxi. During the “11.11 JD.com Global Good Things Festival”, about 75% of the new users came from low-tier cities, and about 55% of Jingxi’s total users were women.

JD.com Health, a subsidiary of JD.com, successfully completed the Round a destitafinancing in November 2019, with a post-investment valuation of about $7 billion.

“Consumers in China’s growing number of fast-growing low-tier cities recognize JD.com’s superior value and service and turn to JD.com,” said Liu Qiangdong, chairman and CEO of JD.com. As Chinese consumers and businesses continue to demand convenient and reliable e-commerce services and supply chain solutions, we will continue to invest in technology and innovation to meet their needs. ”

“JD.com’s revenue growth accelerated in the third quarter and its operating margin reached a record high. “User growth has also maintained a solid upward trend, ” said Huang Xuande, JD.com’s chief financial officer. ”

JD.com Q3 revenue of 134.8 billion yuan, up 28.7% YoY

JD.com Quarterly Report Illustration: Operating profit of 5 billion, more than 70% of new users from low-tier cities

JD.com’s third-quarter net revenue was 134.8 billion yuan (about $189), up 28.7 percent from a year earlier. JD’s year-on-year growth exceeded the previous four quarters, which also meant that JD.com’s growth rate had picked up once.

JD Q3 cost 114.7 billion YoY 29.4% YoY

JD.com Quarterly Report Illustration: Operating profit of 5 billion, more than 70% of new users from low-tier cities

JD.com’s third-quarter revenue costs were 114.7 billion yuan ($16.1 billion), up 29.4 percent from 88.7 billion yuan a year earlier.

JD Q3 gross margin 19.8 billion gross margin 14.7%

JD.com Quarterly Report Illustration: Operating profit of 5 billion, more than 70% of new users from low-tier cities

JD’s gross profit in the third quarter was RMB19,796 million, with a gross margin of 14.7%.

JD Q3 fee 14.823 billion yoy down 12% YoY

JD.com Quarterly Report Illustration: Operating profit of 5 billion, more than 70% of new users from low-tier cities

JD.com’s third-quarter cost was Rmb14,823m, down 12% from a year earlier.

JD’s performance costs in the third quarter were 8.8 billion yuan (about $1.2 billion), up 11.4% from 7.8 billion yuan a year earlier. Performance costs accounted for 6.5 per cent of net revenue, compared with 7.4 per cent a year earlier.

JD.com’s marketing costs in the third quarter were 4.4 billion yuan (about $600 million), up 7.6 percent from 4.1 billion yuan a year earlier, while technology and content costs were 3.6 billion yuan (about $500 million), compared with 3.4 billion yuan a year earlier.

JD.com’s general and administrative expenses were 1.3 billion yuan (about $200 million) in the third quarter, compared with 1.4 billion yuan a year earlier.

JD Q3 operating profit of $5 billion operating margin 3.7%

JD.com Quarterly Report Illustration: Operating profit of 5 billion, more than 70% of new users from low-tier cities

JD.com’s third-quarter return on long-term assets was 3 billion yuan (about $400 million)

JD.com’s operating profit in the third quarter was 5 billion yuan (about $700 million), compared with an operating loss of 700 million yuan a year earlier. JD.com’s operating margin was 3.7% in the third quarter.

Non-U.S. GAAP operating profit was Rmb3bn ($400m) in the third quarter, compared with a 2.2 per cent operating margin under non-GAAP.

JD.com’s third-quarter operating profit under non-U.S. General Accounting Standards (Non-GAAP) was $600 million, compared with a 0.6 percent operating margin under non-U.S. GAAP.

JD Q3 net profit of 610 million fell from a year earlier

JD.com Quarterly Report Illustration: Operating profit of 5 billion, more than 70% of new users from low-tier cities

JD’s net income attributable to common shareholders in the third quarter was 600 million yuan (about $85.7 million), compared with 3 billion yuan attributable to common shareholders in the same period last year.

JD’s net profit fell from a year earlier due to a net profit under GAAP that was included in equity investment income.

Farfetch’s listing in the third quarter of last year led to a substantial increase in JD’s equity investment income, which did not affect JD’s overall operating performance due to the volatility of Farfetch’s share price in the secondary market this year, which also affected investment income for the same period, resulting in an adjustment in net profit under GAAP.

JD’s net income attributable to common shareholders under non-U.S. General Accounting Standards (Non-GAAP) was 3.1 billion yuan ($400 million) in the third quarter, compared with 1.2 billion yuan a year earlier.

JD’s third-quarter non-U.S. General Accounting Standards (Non-GAAP) EBITDA was RMB4.2 billion ($600 million), compared with Rmb1.7 billion a year earlier.

JD’s non-U.S. GAAP EBITDA was 3.1 percent in the third quarter, compared with 1.6 percent a year earlier.

As of September 30, 2019, JD.com’s cash and cash equivalents, restricted funds and short-term investments totalled 59.2 billion yuan (approximately $8.3 billion). As of December 31, 2018, JD.com’s cash and cash equivalents, restricted funds and short-term investments totaled 39.5 billion yuan.

As of September 30, 2019, there are more than 250,000 contracted businesses on JD.com’s third-party platform. As of September 30, 2019, JD.com employs more than 200,000 people in addition to part-time staff and interns.

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