JD.com Unveils Third Quarter Results for 2021
JD.com announced its financial report for the third quarter of 2021 on Thursday. Its net revenue in this quarter was 218.7 billion yuan ($33.9 billion), a year-on-year increase of 25.5%. Its income from operations was 2.6 billion yuan, while operating margins were 1.2%. However, its net loss attributable to ordinary shareholders reached 2.8 billion yuan, substantially lower compared with 7.56 billion yuan in the same period last year.
In terms of revenue composition, net product revenues increased by 22.9%, while net service revenues increased by 43.3% for the third quarter of 2021, as compared to the same period of 2020.
JD.com‘s annual active customer accounts increased by 25.0% to 552.2 million in the twelve months ending September 30, 2021 from 441.6 million in the twelve months ending September 30, 2020.
As of 8:00 p.m. on October 31 to 23:59 on November 11, the accumulated order value for transactions on JD.com, during the Double Eleven festival, had exceeded 349.1 billion yuan.
JD Logistics’ revenue in the third quarter was 25.7 billion yuan, a year-on-year increase of 43.3%. In terms of logistics infrastructure, as of September 30th this year, JD Logistics operated approximately 1,300 warehouses, which covered an aggregate gross floor area of over 23 million square meters, including space in cloud warehouses managed under the JD Logistics Open Warehouse Platform.
During this year’s 11.11 shopping festival, JD Logistics distributed nearly 400 intelligent express vehicles in over 25 cities across the country. The fifth generation intelligent express vehicles of JD Logistics feature sensors that minimize blind spots, enhance remote control and vehicle monitoring.
In September, JD.com opened its first “JD MALL” offline store in Xi’an offering consumers an immersive omni-channel shopping experience. In addition to traditional electronic categories offered by JD’s Super Experience Store, JD MALL provides over 200,000 items from more than 150 brands, in categories including home, furniture, kids, smart healthcare products and auto accessories.
During the quarter, JD.com and Dada Group formed a strategic partnership with ASUS, a global technology leader, launching more than 150 ASUS stores on JD Daojia (JDDJ) and “Shop Now”, JD.com’s new on-demand consumer retail section. The three parties will further accelerate the digital transformation of physical stores in the second half of 2021 to improve the offline shopping experience for computer and digital products, including the extension of its “one-hour delivery” service to all offline ASUS stores in China.
In July, JD Health and Allianz JD, JD.com’s joint venture with Allianz, one of the world’s leading insurers and asset managers, jointly launched a comprehensive online clinical insurance service which offers a one-stop platform for healthcare, medicine and insurance services. By connecting users directly with doctors, pharmacies and insurance companies, JD Health is able to take insured users through its full cycle service of online health consultations, prescriptions, direct claims and reimbursements as well as medicine purchasing and delivery.
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In the third quarter, JD.com also experienced tremendous personnel changes. JD.com announced on September 6 the appointment of Xu Lei, the former CEO of JD Retail, as the new president of the company. Xu will be responsible for day-to-day operations and the collaborative development of various business units within JD.com and will continue to report to Chairman and CEO Richard Qiangdong Liu. After Xu Lei’s promotion, Richard Qiangdong Liu will devote more time to formulating the company’s long-term strategies, mentoring younger management and contributing to the revitalization of rural areas.