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China's JD.com posts 39% rise in quarterly revenue

Chinese e-commerce platform JD.com Inc reported a 39% rise in quarterly revenue on Wednesday, aided

China's JD.com posts 39% rise in quarterly revenue

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Analysts on average had expected revenue of 191.83 billion yuan, according to IBES data from Refinitiv.<img src=\"https://static.tigerbbs.com/fab4616b9116f62104b847dce7bfaa81\" tg-width=\"889\" tg-height=\"734\" referrerpolicy=\"no-referrer\">The shares of JD.com jumped more than 1% from a drop in premarket trading.<img src=\"https://static.tigerbbs.com/87d85727ae695bdaa5e19dd608c93902\" tg-width=\"1302\" tg-height=\"663\" referrerpolicy=\"no-referrer\">First Quarter 2021 Highlights<ul><li>Net revenues&nbsp;for the first quarter of 2021 were&nbsp;RMB203.2 billion(US$131.0 billion), an increase of 39.0% from the first quarter of 2020. Net service revenues for the first quarter of 2021 were&nbsp;RMB27.9 billion(US$4.3 billion), an increase of 73.1% from the first quarter of 2020.</li><li>Income from operations&nbsp;for the first quarter of 2021 was&nbsp;RMB1.7 billion(US$0.3 billion), compared toRMB2.3 billionfor the same period last year.Non-GAAP2income from operations&nbsp;for the first quarter of 2021 wasRMB3.5 billion(US$0.5 billion), compared toRMB3.3 billionfor the first quarter of 2020. Operating margin of JD Retail before unallocated items for the first quarter of 2021 was 4.0%, compared to 3.7%3for the first quarter of 2020.</li><li>Net income&nbsp;attributable to ordinary shareholders&nbsp;for the first quarter of 2021 wasRMB3.6 billion(US$0.6 billion), compared toRMB1.1 billionfor the same period last year.Non-GAAP net income&nbsp;attributable to ordinary shareholders&nbsp;for the first quarter of 2021 was&nbsp;RMB4.0 billion(US$0.6 billion), compared to&nbsp;RMB3.0 billionfor the same period last year.</li><li>Diluted net income per ADS&nbsp;for the first quarter of 2021 was&nbsp;RMB2.25(US$0.34), compared toRMB0.72for the first quarter of 2020.Non-GAAP diluted net income per ADS&nbsp;for the first quarter of 2021 was&nbsp;RMB2.47(US$0.38), compared toRMB1.98for the same period last year.</li><li>Annual active customer accounts4&nbsp;increased by 29.0% to 499.8 million in the twelve months ended&nbsp;March 31, 2021from 387.4 million in the twelve months endedMarch 31, 2020.</li></ul>“As we mark JD.com’s 18th anniversary, we are pleased to deliver another strong quarter of growth to kick off 2021,” saidRichard Liu, Chairman and Chief Executive Officer ofJD.com. “Since our establishment, JD’s focus on customers has set us apart and today we are proud that 500 million active users rely on JD’s broad selection of quality products and best-in-class customer services to support every aspect of their lives. JD is also increasingly the partner of choice for millions of businesses who benefit from our advanced supply-chain infrastructure to reduce costs and boost operating efficiency.”“As our strong growth momentum from last year continued into the first quarter of 2021, we are also encouraged by the diversification of our revenue streams with an increasing contribution from service revenues.” saidSandy Xu, Chief Financial Officer ofJD.com. “JD Retail’s operating margin further expanded during the quarter, as we continue to drive stronger operating leverage through technology and innovation.”Business HighlightsEnvironment, Social and Governance<ul><li>JD.comreleased its first ESG report onApril 19thhighlighting the company’s long-term approach to ESG initiatives and corporate social responsibility. The report details JD.com’s vision of leveraging the digital supply chain to boost the real economy, improve efficiency and enhance environmentally friendly initiatives including green supply chain, green data centers and poverty alleviation.</li><li>As part of its commitment to poverty alleviation,JD.comhelped impoverished counties to market more than 3 million local commodities online.JD.comwill focus on rural digitalization to promote the sustainable development of rural areas in the future. With over 80% ofJD.comfront-line employees originally from rural areas,JD.comprovides sustainable employment opportunities and social insurance and housing fund for hundreds of thousands of employees throughout ruralChina.</li></ul>JD Retail<ul><li>JD.comandLouis Vuittonlaunched an innovative cooperation in April. The ground-breaking cooperation model connectsLouis Vuittondirectly with JD.com’s high-quality customers, providing them with access to the brand while further enhancing the luxury shopping experience onJD.com.</li><li>In the first quarter,JD.comhas started new partnerships with a wide spectrum of&nbsp;luxury brands.John Lobb, the luxury shoes and boots brand under Hermès Group, recently launched flagship stores onJD.com. Some brands went further to partner withJD.comin supply chain services. Italian brand Marni not only launched a flagship store onJD.com, but also adopted a customized one-stop solution offered byJD.com, covering marketing, technology, and supply chain management. With this service, customers can purchase directly from Marni’s inventory with the products delivered by JD Logistics.</li><li>In response to local authorities’ appeals to limit travel during this year’s Spring Festival, JD Retail collaborated with JD Logistics to provide non-stop delivery during Spring Festival for the ninth consecutive year and launched a series of initiatives for the JD New Year Shopping Festival. JD City-wide Shopping collaborated with JD Daojia (JDDJ) to coordinate inventory, logistics and employee resources in order to provide uninterrupted services during the Spring Festival holiday. Through cooperation with well-known chain retailers,JD.comprovided residents in more than 1,400 counties, districts and cities across the country with one-hour delivery service for products across all categories.JD.comalso upgraded the hassle-free shopping experience on its third-party platform, offering delivery time and price guarantees, free pickup for returns, as well as flash refunds.</li><li>During the first quarter, JD Home entered into strategic cooperation with Honor, Xiaomi, OPPO,OnePlus, realme, and other cellphone brands to collaborate on innovative omni-channel marketing initiatives, including in retail chain stores. JD Home has already achieved National Key Account (NKA) status with many major cellphone brands, supporting their omni-channel retail channels and the offline shopping experience. JD Home provides brands with additional channels to connect with customers and accelerate growth through omni-channel sales, user services, and event marketing.</li><li>JD.com’s recent announcement that it will increase its stake inDada Group(Dada) marks a tighter collaboration under the omni-channel strategy. Dada will have the full support ofJD.comand strategically&nbsp;undertake JD’s local on-demand retail and delivery businesses. Through this alignment,JD.comand Dada will be able to provide JD.com’s nearly 500 million annual active customers with superior customer services and enriched coverage in on-demand retail and delivery, and will accelerate the digital transformation of real economy enterprises.</li></ul>JD Health<ul><li>In February, JD Health announced the launch of theRare Diseases Care Project, under which it establishedJD Pharmacy Rare Diseases Care Centerand a dedicated fund for patients with rare diseases. In collaboration with partners from all relevant fields, the Project leverages JD Health’s supply chain capabilities and comprehensive healthcare offerings to create a one-stop solution for rare disease patients inChinaproviding financial assistance as well as ongoing support for diagnosis, treatment and access to medication.</li></ul>JD Logistics<ul><li>OnApril 17, JD Logistics andTencentSmart Retail jointly announced the launch ofJD-Tencent Cloud Warehouse. Integrated with JD Logistics cloud warehouse technologies, logistics platform and supply chain capabilities, as well asTencentSmart Retail's smart retailing analysis technology,JD-Tencent Cloud Warehouseprovides integrated solutions including business leads, branding and marketing as well as logistics services to merchants and warehousing companies, supporting areas including private traffic operations, traffic promotions, supply chains and logistics. Following its launch in 2017 to serve third-party warehouses and merchants,JD Cloud Warehousecan now leverage this partnership to serve new business models including social and live-streaming e-commerce, further opening JD Logistics’s integrated supply chain capabilities for diverse commercial use cases.</li><li>As ofMarch 31, 2021, JD Logistics operated over 1,000 warehouses, which covered an aggregate gross floor area of over 21 million square meters, including warehouse space of cloud warehouses managed under the JD Logistics Open Warehouse Platform.</li></ul>Other Highlights<ul><li>In May,Jingdong Digits Technology Holding Co., Ltd.(“JD Digits”) was officially renamed asJingdong Technology Holding Co., Ltd.(“JD Technology”). During the quarter endedMarch 31, 2021,JD.com, through a subsidiary, transferred JD Cloud &amp; AI business and certain assets to JD Technology, in exchange for issuance of ordinary shares of JD Technology. Through this transaction, JD.com’s equity interest in JD Technology increased to approximately 42%. The company deconsolidated the operating results of JD Cloud &amp; AI business upon the completion date of the transaction, which wasMarch 31, 2021.JD.comwill continue to focus on its core competences and synergistic businesses to better serve customers, and JD Technology will be better positioned to deliver a suite of cutting-edge technology services to its business partners.</li></ul>Operational Metrics Update<ul><li>As ofMarch 31, 2021,JD.comhad over 310,000 employees excluding part-time and interns.</li></ul>First Quarter 2021 Financial ResultsNet Revenues.&nbsp;&nbsp; For the first quarter of 2021,JD.comreported net revenues ofRMB203.2 billion(US$31.0 billion), representing a 39.0% increase from the same period in 2020. Net product revenues increased by 34.7%, while net service revenues increased by 73.1% for the first quarter of 2021, as compared to the same period of 2020.Cost of Revenues.Cost of revenues increased by 40.7% toRMB174.1 billion(US$26.6 billion) for the first quarter of 2021 fromRMB123.7 billionfor the first quarter of 2020.Fulfillment Expenses.Fulfillment expenses, which primarily include procurement, warehousing, delivery, customer service and payment processing expenses, increased by 32.7% toRMB13.8 billion(US$2.1 billion) for the first quarter of 2021 fromRMB10.4 billionfor the first quarter of 2020.Marketing Expenses.Marketing expenses increased by 56.6% toRMB7.0 billion(US$1.1 billion) for the first quarter of 2021 fromRMB4.5 billionfor the first quarter of 2020.Research and Development Expenses.Research and development expenses increased by 15.1% toRMB4.5 billion(US$0.7 billion) for the first quarter of 2021 fromRMB3.9 billionfor the first quarter of 2020.General and Administrative Expenses.&nbsp;&nbsp; General and administrative expenses increased by 56.8% toRMB2.2 billion(US$0.3 billion) for the first quarter of 2021 fromRMB1.4 billionfor the first quarter of 2020. The increase was primarily due to the increase in share-based compensation expenses in relation to JD Health’s and JD Logistics’s share incentive plans.Income from Operations and Non-GAAP Income from Operations.Income from operations for the first quarter of 2021 wasRMB1.7 billion(US$0.3 billion), compared toRMB2.3 billionfor the same period last year. Non-GAAP income from operations for the first quarter of 2021 wasRMB3.5 billion(US$0.5 billion), compared to non-GAAP income from operations ofRMB3.3 billionfor the first quarter of 2020. Operating margin of JD Retail before unallocated items for the first quarter of 2021 was 4.0%, compared to 3.7% for the first quarter of 2020.Non-GAAP EBITDAfor the first quarter of 2021 wasRMB4.9 billion(US$0.8 billion), compared toRMB4.5 billionfor the first quarter of 2020.Share of Results of Equity Investees.&nbsp;&nbsp; In the first quarter of 2021, share of results of equity investees was an income ofRMB0.7 billion(US$0.1 billion), which was mainly contributed by JD Technology. In the first quarter of 2020, share of results of equity investees was a loss ofRMB1.1 billion, which was mainly resulted fromJiangsu Five Star, Dada and Yixin.Net Income&nbsp;Attributable to Ordinary Shareholdersand Non-GAAP Net IncomeAttributable to Ordinary Shareholders.Net income attributable to ordinary shareholders for the first quarter of 2021 wasRMB3.6 billion(US$0.6 billion), compared toRMB1.1 billionfor the same period last year. Non-GAAP net income attributable to ordinary shareholders for the first quarter of 2021 wasRMB4.0 billion(US$0.6 billion), compared toRMB3.0 billionfor the same period last year.Diluted EPS and Non-GAAP Diluted EPS.Diluted net income per ADS for the first quarter of 2021 wasRMB2.25(US$0.34), compared toRMB0.72for the first quarter of 2020. Non-GAAP diluted net income per ADS for the first quarter of 2021 wasRMB2.47(US$0.38), compared toRMB1.98for the first quarter of 2020.","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>China's JD.com posts 39% rise in quarterly revenue</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChina's JD.com posts 39% rise in quarterly revenue\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\nTiger Newspress \n2021-05-19 18:56\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\nChinese e-commerce platform JD.com Inc&nbsp;reported a 39% rise in quarterly revenue on Wednesday, aided by an expanded product line-up that helped lure in more users.Net revenue at JD.com, China's largest e-commerce company by revenue, rose to 203.2 billion yuan ($31.57 billion) in the quarter ended March 31 from 146.2 billion yuan a year earlier. Analysts on average had expected revenue of 191.83 billion yuan, according to IBES data from Refinitiv.<img src=\"https://static.tigerbbs.com/fab4616b9116f62104b847dce7bfaa81\" tg-width=\"889\" tg-height=\"734\" referrerpolicy=\"no-referrer\">The shares of JD.com jumped more than 1% from a drop in premarket trading.<img src=\"https://static.tigerbbs.com/87d85727ae695bdaa5e19dd608c93902\" tg-width=\"1302\" tg-height=\"663\" referrerpolicy=\"no-referrer\">First Quarter 2021 Highlights<ul><li>Net revenues&nbsp;for the first quarter of 2021 were&nbsp;RMB203.2 billion(US$131.0 billion), an increase of 39.0% from the first quarter of 2020. Net service revenues for the first quarter of 2021 were&nbsp;RMB27.9 billion(US$4.3 billion), an increase of 73.1% from the first quarter of 2020.</li><li>Income from operations&nbsp;for the first quarter of 2021 was&nbsp;RMB1.7 billion(US$0.3 billion), compared toRMB2.3 billionfor the same period last year.Non-GAAP2income from operations&nbsp;for the first quarter of 2021 wasRMB3.5 billion(US$0.5 billion), compared toRMB3.3 billionfor the first quarter of 2020. Operating margin of JD Retail before unallocated items for the first quarter of 2021 was 4.0%, compared to 3.7%3for the first quarter of 2020.</li><li>Net income&nbsp;attributable to ordinary shareholders&nbsp;for the first quarter of 2021 wasRMB3.6 billion(US$0.6 billion), compared toRMB1.1 billionfor the same period last year.Non-GAAP net income&nbsp;attributable to ordinary shareholders&nbsp;for the first quarter of 2021 was&nbsp;RMB4.0 billion(US$0.6 billion), compared to&nbsp;RMB3.0 billionfor the same period last year.</li><li>Diluted net income per ADS&nbsp;for the first quarter of 2021 was&nbsp;RMB2.25(US$0.34), compared toRMB0.72for the first quarter of 2020.Non-GAAP diluted net income per ADS&nbsp;for the first quarter of 2021 was&nbsp;RMB2.47(US$0.38), compared toRMB1.98for the same period last year.</li><li>Annual active customer accounts4&nbsp;increased by 29.0% to 499.8 million in the twelve months ended&nbsp;March 31, 2021from 387.4 million in the twelve months endedMarch 31, 2020.</li></ul>“As we mark JD.com’s 18th anniversary, we are pleased to deliver another strong quarter of growth to kick off 2021,” saidRichard Liu, Chairman and Chief Executive Officer ofJD.com. “Since our establishment, JD’s focus on customers has set us apart and today we are proud that 500 million active users rely on JD’s broad selection of quality products and best-in-class customer services to support every aspect of their lives. JD is also increasingly the partner of choice for millions of businesses who benefit from our advanced supply-chain infrastructure to reduce costs and boost operating efficiency.”“As our strong growth momentum from last year continued into the first quarter of 2021, we are also encouraged by the diversification of our revenue streams with an increasing contribution from service revenues.” saidSandy Xu, Chief Financial Officer ofJD.com. “JD Retail’s operating margin further expanded during the quarter, as we continue to drive stronger operating leverage through technology and innovation.”Business HighlightsEnvironment, Social and Governance<ul><li>JD.comreleased its first ESG report onApril 19thhighlighting the company’s long-term approach to ESG initiatives and corporate social responsibility. The report details JD.com’s vision of leveraging the digital supply chain to boost the real economy, improve efficiency and enhance environmentally friendly initiatives including green supply chain, green data centers and poverty alleviation.</li><li>As part of its commitment to poverty alleviation,JD.comhelped impoverished counties to market more than 3 million local commodities online.JD.comwill focus on rural digitalization to promote the sustainable development of rural areas in the future. With over 80% ofJD.comfront-line employees originally from rural areas,JD.comprovides sustainable employment opportunities and social insurance and housing fund for hundreds of thousands of employees throughout ruralChina.</li></ul>JD Retail<ul><li>JD.comandLouis Vuittonlaunched an innovative cooperation in April. The ground-breaking cooperation model connectsLouis Vuittondirectly with JD.com’s high-quality customers, providing them with access to the brand while further enhancing the luxury shopping experience onJD.com.</li><li>In the first quarter,JD.comhas started new partnerships with a wide spectrum of&nbsp;luxury brands.John Lobb, the luxury shoes and boots brand under Hermès Group, recently launched flagship stores onJD.com. Some brands went further to partner withJD.comin supply chain services. Italian brand Marni not only launched a flagship store onJD.com, but also adopted a customized one-stop solution offered byJD.com, covering marketing, technology, and supply chain management. With this service, customers can purchase directly from Marni’s inventory with the products delivered by JD Logistics.</li><li>In response to local authorities’ appeals to limit travel during this year’s Spring Festival, JD Retail collaborated with JD Logistics to provide non-stop delivery during Spring Festival for the ninth consecutive year and launched a series of initiatives for the JD New Year Shopping Festival. JD City-wide Shopping collaborated with JD Daojia (JDDJ) to coordinate inventory, logistics and employee resources in order to provide uninterrupted services during the Spring Festival holiday. Through cooperation with well-known chain retailers,JD.comprovided residents in more than 1,400 counties, districts and cities across the country with one-hour delivery service for products across all categories.JD.comalso upgraded the hassle-free shopping experience on its third-party platform, offering delivery time and price guarantees, free pickup for returns, as well as flash refunds.</li><li>During the first quarter, JD Home entered into strategic cooperation with Honor, Xiaomi, OPPO,OnePlus, realme, and other cellphone brands to collaborate on innovative omni-channel marketing initiatives, including in retail chain stores. JD Home has already achieved National Key Account (NKA) status with many major cellphone brands, supporting their omni-channel retail channels and the offline shopping experience. JD Home provides brands with additional channels to connect with customers and accelerate growth through omni-channel sales, user services, and event marketing.</li><li>JD.com’s recent announcement that it will increase its stake inDada Group(Dada) marks a tighter collaboration under the omni-channel strategy. Dada will have the full support ofJD.comand strategically&nbsp;undertake JD’s local on-demand retail and delivery businesses. Through this alignment,JD.comand Dada will be able to provide JD.com’s nearly 500 million annual active customers with superior customer services and enriched coverage in on-demand retail and delivery, and will accelerate the digital transformation of real economy enterprises.</li></ul>JD Health<ul><li>In February, JD Health announced the launch of theRare Diseases Care Project, under which it establishedJD Pharmacy Rare Diseases Care Centerand a dedicated fund for patients with rare diseases. In collaboration with partners from all relevant fields, the Project leverages JD Health’s supply chain capabilities and comprehensive healthcare offerings to create a one-stop solution for rare disease patients inChinaproviding financial assistance as well as ongoing support for diagnosis, treatment and access to medication.</li></ul>JD Logistics<ul><li>OnApril 17, JD Logistics andTencentSmart Retail jointly announced the launch ofJD-Tencent Cloud Warehouse. Integrated with JD Logistics cloud warehouse technologies, logistics platform and supply chain capabilities, as well asTencentSmart Retail's smart retailing analysis technology,JD-Tencent Cloud Warehouseprovides integrated solutions including business leads, branding and marketing as well as logistics services to merchants and warehousing companies, supporting areas including private traffic operations, traffic promotions, supply chains and logistics. Following its launch in 2017 to serve third-party warehouses and merchants,JD Cloud Warehousecan now leverage this partnership to serve new business models including social and live-streaming e-commerce, further opening JD Logistics’s integrated supply chain capabilities for diverse commercial use cases.</li><li>As ofMarch 31, 2021, JD Logistics operated over 1,000 warehouses, which covered an aggregate gross floor area of over 21 million square meters, including warehouse space of cloud warehouses managed under the JD Logistics Open Warehouse Platform.</li></ul>Other Highlights<ul><li>In May,Jingdong Digits Technology Holding Co., Ltd.(“JD Digits”) was officially renamed asJingdong Technology Holding Co., Ltd.(“JD Technology”). During the quarter endedMarch 31, 2021,JD.com, through a subsidiary, transferred JD Cloud &amp; AI business and certain assets to JD Technology, in exchange for issuance of ordinary shares of JD Technology. Through this transaction, JD.com’s equity interest in JD Technology increased to approximately 42%. The company deconsolidated the operating results of JD Cloud &amp; AI business upon the completion date of the transaction, which wasMarch 31, 2021.JD.comwill continue to focus on its core competences and synergistic businesses to better serve customers, and JD Technology will be better positioned to deliver a suite of cutting-edge technology services to its business partners.</li></ul>Operational Metrics Update<ul><li>As ofMarch 31, 2021,JD.comhad over 310,000 employees excluding part-time and interns.</li></ul>First Quarter 2021 Financial ResultsNet Revenues.&nbsp;&nbsp; For the first quarter of 2021,JD.comreported net revenues ofRMB203.2 billion(US$31.0 billion), representing a 39.0% increase from the same period in 2020. Net product revenues increased by 34.7%, while net service revenues increased by 73.1% for the first quarter of 2021, as compared to the same period of 2020.Cost of Revenues.Cost of revenues increased by 40.7% toRMB174.1 billion(US$26.6 billion) for the first quarter of 2021 fromRMB123.7 billionfor the first quarter of 2020.Fulfillment Expenses.Fulfillment expenses, which primarily include procurement, warehousing, delivery, customer service and payment processing expenses, increased by 32.7% toRMB13.8 billion(US$2.1 billion) for the first quarter of 2021 fromRMB10.4 billionfor the first quarter of 2020.Marketing Expenses.Marketing expenses increased by 56.6% toRMB7.0 billion(US$1.1 billion) for the first quarter of 2021 fromRMB4.5 billionfor the first quarter of 2020.Research and Development Expenses.Research and development expenses increased by 15.1% toRMB4.5 billion(US$0.7 billion) for the first quarter of 2021 fromRMB3.9 billionfor the first quarter of 2020.General and Administrative Expenses.&nbsp;&nbsp; General and administrative expenses increased by 56.8% toRMB2.2 billion(US$0.3 billion) for the first quarter of 2021 fromRMB1.4 billionfor the first quarter of 2020. The increase was primarily due to the increase in share-based compensation expenses in relation to JD Health’s and JD Logistics’s share incentive plans.Income from Operations and Non-GAAP Income from Operations.Income from operations for the first quarter of 2021 wasRMB1.7 billion(US$0.3 billion), compared toRMB2.3 billionfor the same period last year. Non-GAAP income from operations for the first quarter of 2021 wasRMB3.5 billion(US$0.5 billion), compared to non-GAAP income from operations ofRMB3.3 billionfor the first quarter of 2020. Operating margin of JD Retail before unallocated items for the first quarter of 2021 was 4.0%, compared to 3.7% for the first quarter of 2020.Non-GAAP EBITDAfor the first quarter of 2021 wasRMB4.9 billion(US$0.8 billion), compared toRMB4.5 billionfor the first quarter of 2020.Share of Results of Equity Investees.&nbsp;&nbsp; In the first quarter of 2021, share of results of equity investees was an income ofRMB0.7 billion(US$0.1 billion), which was mainly contributed by JD Technology. In the first quarter of 2020, share of results of equity investees was a loss ofRMB1.1 billion, which was mainly resulted fromJiangsu Five Star, Dada and Yixin.Net Income&nbsp;Attributable to Ordinary Shareholdersand Non-GAAP Net IncomeAttributable to Ordinary Shareholders.Net income attributable to ordinary shareholders for the first quarter of 2021 wasRMB3.6 billion(US$0.6 billion), compared toRMB1.1 billionfor the same period last year. Non-GAAP net income attributable to ordinary shareholders for the first quarter of 2021 wasRMB4.0 billion(US$0.6 billion), compared toRMB3.0 billionfor the same period last year.Diluted EPS and Non-GAAP Diluted EPS.Diluted net income per ADS for the first quarter of 2021 wasRMB2.25(US$0.34), compared toRMB0.72for the first quarter of 2020. Non-GAAP diluted net income per ADS for the first quarter of 2021 wasRMB2.47(US$0.38), compared toRMB1.98for the first quarter of 2020.\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09618":"京东集团-SW","JD":"京东"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2136116599","content_text":"Chinese e-commerce platform JD.com Inc reported a 39% rise in quarterly revenue on Wednesday, aided by an expanded product line-up that helped lure in more users.Net revenue at JD.com, China's largest e-commerce company by revenue, rose to 203.2 billion yuan ($31.57 billion) in the quarter ended March 31 from 146.2 billion yuan a year earlier. Analysts on average had expected revenue of 191.83 billion yuan, according to IBES data from Refinitiv.The shares of JD.com jumped more than 1% from a drop in premarket trading.First Quarter 2021 HighlightsNet revenues for the first quarter of 2021 were RMB203.2 billion(US$131.0 billion), an increase of 39.0% from the first quarter of 2020. Net service revenues for the first quarter of 2021 were RMB27.9 billion(US$4.3 billion), an increase of 73.1% from the first quarter of 2020.Income from operations for the first quarter of 2021 was RMB1.7 billion(US$0.3 billion), compared toRMB2.3 billionfor the same period last year.Non-GAAP2income from operations for the first quarter of 2021 wasRMB3.5 billion(US$0.5 billion), compared toRMB3.3 billionfor the first quarter of 2020. Operating margin of JD Retail before unallocated items for the first quarter of 2021 was 4.0%, compared to 3.7%3for the first quarter of 2020.Net income attributable to ordinary shareholders for the first quarter of 2021 wasRMB3.6 billion(US$0.6 billion), compared toRMB1.1 billionfor the same period last year.Non-GAAP net income attributable to ordinary shareholders for the first quarter of 2021 was RMB4.0 billion(US$0.6 billion), compared to RMB3.0 billionfor the same period last year.Diluted net income per ADS for the first quarter of 2021 was RMB2.25(US$0.34), compared toRMB0.72for the first quarter of 2020.Non-GAAP diluted net income per ADS for the first quarter of 2021 was RMB2.47(US$0.38), compared toRMB1.98for the same period last year.Annual active customer accounts4 increased by 29.0% to 499.8 million in the twelve months ended March 31, 2021from 387.4 million in the twelve months endedMarch 31, 2020.“As we mark JD.com’s 18th anniversary, we are pleased to deliver another strong quarter of growth to kick off 2021,” saidRichard Liu, Chairman and Chief Executive Officer ofJD.com. “Since our establishment, JD’s focus on customers has set us apart and today we are proud that 500 million active users rely on JD’s broad selection of quality products and best-in-class customer services to support every aspect of their lives. JD is also increasingly the partner of choice for millions of businesses who benefit from our advanced supply-chain infrastructure to reduce costs and boost operating efficiency.”“As our strong growth momentum from last year continued into the first quarter of 2021, we are also encouraged by the diversification of our revenue streams with an increasing contribution from service revenues.” saidSandy Xu, Chief Financial Officer ofJD.com. “JD Retail’s operating margin further expanded during the quarter, as we continue to drive stronger operating leverage through technology and innovation.”Business HighlightsEnvironment, Social and GovernanceJD.comreleased its first ESG report onApril 19thhighlighting the company’s long-term approach to ESG initiatives and corporate social responsibility. The report details JD.com’s vision of leveraging the digital supply chain to boost the real economy, improve efficiency and enhance environmentally friendly initiatives including green supply chain, green data centers and poverty alleviation.As part of its commitment to poverty alleviation,JD.comhelped impoverished counties to market more than 3 million local commodities online.JD.comwill focus on rural digitalization to promote the sustainable development of rural areas in the future. With over 80% ofJD.comfront-line employees originally from rural areas,JD.comprovides sustainable employment opportunities and social insurance and housing fund for hundreds of thousands of employees throughout ruralChina.JD RetailJD.comandLouis Vuittonlaunched an innovative cooperation in April. The ground-breaking cooperation model connectsLouis Vuittondirectly with JD.com’s high-quality customers, providing them with access to the brand while further enhancing the luxury shopping experience onJD.com.In the first quarter,JD.comhas started new partnerships with a wide spectrum of luxury brands.John Lobb, the luxury shoes and boots brand under Hermès Group, recently launched flagship stores onJD.com. Some brands went further to partner withJD.comin supply chain services. Italian brand Marni not only launched a flagship store onJD.com, but also adopted a customized one-stop solution offered byJD.com, covering marketing, technology, and supply chain management. With this service, customers can purchase directly from Marni’s inventory with the products delivered by JD Logistics.In response to local authorities’ appeals to limit travel during this year’s Spring Festival, JD Retail collaborated with JD Logistics to provide non-stop delivery during Spring Festival for the ninth consecutive year and launched a series of initiatives for the JD New Year Shopping Festival. JD City-wide Shopping collaborated with JD Daojia (JDDJ) to coordinate inventory, logistics and employee resources in order to provide uninterrupted services during the Spring Festival holiday. Through cooperation with well-known chain retailers,JD.comprovided residents in more than 1,400 counties, districts and cities across the country with one-hour delivery service for products across all categories.JD.comalso upgraded the hassle-free shopping experience on its third-party platform, offering delivery time and price guarantees, free pickup for returns, as well as flash refunds.During the first quarter, JD Home entered into strategic cooperation with Honor, Xiaomi, OPPO,OnePlus, realme, and other cellphone brands to collaborate on innovative omni-channel marketing initiatives, including in retail chain stores. JD Home has already achieved National Key Account (NKA) status with many major cellphone brands, supporting their omni-channel retail channels and the offline shopping experience. JD Home provides brands with additional channels to connect with customers and accelerate growth through omni-channel sales, user services, and event marketing.JD.com’s recent announcement that it will increase its stake inDada Group(Dada) marks a tighter collaboration under the omni-channel strategy. Dada will have the full support ofJD.comand strategically undertake JD’s local on-demand retail and delivery businesses. Through this alignment,JD.comand Dada will be able to provide JD.com’s nearly 500 million annual active customers with superior customer services and enriched coverage in on-demand retail and delivery, and will accelerate the digital transformation of real economy enterprises.JD HealthIn February, JD Health announced the launch of theRare Diseases Care Project, under which it establishedJD Pharmacy Rare Diseases Care Centerand a dedicated fund for patients with rare diseases. In collaboration with partners from all relevant fields, the Project leverages JD Health’s supply chain capabilities and comprehensive healthcare offerings to create a one-stop solution for rare disease patients inChinaproviding financial assistance as well as ongoing support for diagnosis, treatment and access to medication.JD LogisticsOnApril 17, JD Logistics andTencentSmart Retail jointly announced the launch ofJD-Tencent Cloud Warehouse. Integrated with JD Logistics cloud warehouse technologies, logistics platform and supply chain capabilities, as well asTencentSmart Retail's smart retailing analysis technology,JD-Tencent Cloud Warehouseprovides integrated solutions including business leads, branding and marketing as well as logistics services to merchants and warehousing companies, supporting areas including private traffic operations, traffic promotions, supply chains and logistics. Following its launch in 2017 to serve third-party warehouses and merchants,JD Cloud Warehousecan now leverage this partnership to serve new business models including social and live-streaming e-commerce, further opening JD Logistics’s integrated supply chain capabilities for diverse commercial use cases.As ofMarch 31, 2021, JD Logistics operated over 1,000 warehouses, which covered an aggregate gross floor area of over 21 million square meters, including warehouse space of cloud warehouses managed under the JD Logistics Open Warehouse Platform.Other HighlightsIn May,Jingdong Digits Technology Holding Co., Ltd.(“JD Digits”) was officially renamed asJingdong Technology Holding Co., Ltd.(“JD Technology”). During the quarter endedMarch 31, 2021,JD.com, through a subsidiary, transferred JD Cloud & AI business and certain assets to JD Technology, in exchange for issuance of ordinary shares of JD Technology. Through this transaction, JD.com’s equity interest in JD Technology increased to approximately 42%. The company deconsolidated the operating results of JD Cloud & AI business upon the completion date of the transaction, which wasMarch 31, 2021.JD.comwill continue to focus on its core competences and synergistic businesses to better serve customers, and JD Technology will be better positioned to deliver a suite of cutting-edge technology services to its business partners.Operational Metrics UpdateAs ofMarch 31, 2021,JD.comhad over 310,000 employees excluding part-time and interns.First Quarter 2021 Financial ResultsNet Revenues.   For the first quarter of 2021,JD.comreported net revenues ofRMB203.2 billion(US$31.0 billion), representing a 39.0% increase from the same period in 2020. Net product revenues increased by 34.7%, while net service revenues increased by 73.1% for the first quarter of 2021, as compared to the same period of 2020.Cost of Revenues.Cost of revenues increased by 40.7% toRMB174.1 billion(US$26.6 billion) for the first quarter of 2021 fromRMB123.7 billionfor the first quarter of 2020.Fulfillment Expenses.Fulfillment expenses, which primarily include procurement, warehousing, delivery, customer service and payment processing expenses, increased by 32.7% toRMB13.8 billion(US$2.1 billion) for the first quarter of 2021 fromRMB10.4 billionfor the first quarter of 2020.Marketing Expenses.Marketing expenses increased by 56.6% toRMB7.0 billion(US$1.1 billion) for the first quarter of 2021 fromRMB4.5 billionfor the first quarter of 2020.Research and Development Expenses.Research and development expenses increased by 15.1% toRMB4.5 billion(US$0.7 billion) for the first quarter of 2021 fromRMB3.9 billionfor the first quarter of 2020.General and Administrative Expenses.   General and administrative expenses increased by 56.8% toRMB2.2 billion(US$0.3 billion) for the first quarter of 2021 fromRMB1.4 billionfor the first quarter of 2020. The increase was primarily due to the increase in share-based compensation expenses in relation to JD Health’s and JD Logistics’s share incentive plans.Income from Operations and Non-GAAP Income from Operations.Income from operations for the first quarter of 2021 wasRMB1.7 billion(US$0.3 billion), compared toRMB2.3 billionfor the same period last year. Non-GAAP income from operations for the first quarter of 2021 wasRMB3.5 billion(US$0.5 billion), compared to non-GAAP income from operations ofRMB3.3 billionfor the first quarter of 2020. Operating margin of JD Retail before unallocated items for the first quarter of 2021 was 4.0%, compared to 3.7% for the first quarter of 2020.Non-GAAP EBITDAfor the first quarter of 2021 wasRMB4.9 billion(US$0.8 billion), compared toRMB4.5 billionfor the first quarter of 2020.Share of Results of Equity Investees.   In the first quarter of 2021, share of results of equity investees was an income ofRMB0.7 billion(US$0.1 billion), which was mainly contributed by JD Technology. In the first quarter of 2020, share of results of equity investees was a loss ofRMB1.1 billion, which was mainly resulted fromJiangsu Five Star, Dada and Yixin.Net Income Attributable to Ordinary Shareholdersand Non-GAAP Net IncomeAttributable to Ordinary Shareholders.Net income attributable to ordinary shareholders for the first quarter of 2021 wasRMB3.6 billion(US$0.6 billion), compared toRMB1.1 billionfor the same period last year. Non-GAAP net income attributable to ordinary shareholders for the first quarter of 2021 wasRMB4.0 billion(US$0.6 billion), compared toRMB3.0 billionfor the same period last year.Diluted EPS and Non-GAAP Diluted EPS.Diluted net income per ADS for the first quarter of 2021 wasRMB2.25(US$0.34), compared toRMB0.72for the first quarter of 2020. Non-GAAP diluted net income per ADS for the first quarter of 2021 wasRMB2.47(US$0.38), compared toRMB1.98for the first quarter of 2020.","news_type":1},"isVote":1,"tweetType":1,"viewCount":301,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"upFlag":false,"length":4,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}