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JD.com Reports Strong Q4 Performance Amid Rebounding Consumer Spending
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JD.com Reports Strong Q4 Performance Amid Rebounding Consumer Spending

Nov 17, 2024

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JD.com Reports Strong Q4 Performance Amid Rebounding Consumer Spending
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JD.com, a leading Chinese e-commerce company, reported robust financial results for the fourth quarter of 2024, signaling a strong rebound in consumer spending and solidifying its position in the market.

Financial Performance

The company's net revenues for Q4 2024 reached RMB 347.0 billion (approximately US$47.5 billion), marking a 13.4% increase from the same period in 2023. This growth rate is the fastest JD.com has experienced since the first quarter of 2022, reflecting a significant acceleration from the previous quarters.

Net income attributable to ordinary shareholders nearly tripled, soaring to RMB 9.85 billion (US$1.36 billion) from RMB 3.4 billion in Q4 2023. This substantial increase underscores the company's improved profitability during this period.

Segment Growth

JD.com's retail segment experienced a 14.7% revenue increase, reaching RMB 307.1 billion, driven by a broad recovery across multiple categories.

The electronics and home appliances sector saw a notable 16% year-on-year growth in Q4, while general merchandise revenue rose by 11% during the same period.

The logistics segment also performed well, with revenues increasing by 10.4% to RMB 52.1 billion. This growth was bolstered by promotional periods and enhanced services, such as four-hour intra-city delivery, which significantly improved the online shopping and shipping experience for customers.

Market Response and Outlook

Following the announcement, JD.com's U.S.-listed shares experienced volatility. Initially, the stock jumped nearly 6% in premarket trading but closed with a modest gain of 0.37% at $43.92.

Looking ahead, JD.com's leadership expresses optimism for 2025. CEO Sandy Xu highlighted the company's growing consumer mindshare, evidenced by strong double-digit growth in active users and shopping frequency across various product categories.

The company plans to leverage government subsidies for electronics and household appliances to drive further revenue growth, aligning with national efforts to stimulate consumption.


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By CIW Team · Launched 4 months ago
CIW publishes data-driven insights on China’s innovation landscape—covering technology breakthroughs, consumer trends, regulatory developments, and corporate strategies.

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