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JD.com Inc
XMUN:013C

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JD.com Inc
XMUN:013C
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Price: 11.652 EUR 0.05% Market Closed
Market Cap: €31.8B

JD.com Inc
Investor Relations

JD.com is one of China’s largest online retailers. It sells electronics, appliances, home goods, groceries, and many other consumer products through its own retail platform. A big part of the business is direct sales, where JD buys inventory, stores it in its own network, and sells it to shoppers, which gives customers fast delivery and a reliable shopping experience. The company also runs a marketplace for third-party merchants that want to reach JD’s customers. In that model, JD earns money from commissions, advertising, logistics services, and other fees, while merchants handle their own products and pricing. Its main customers are Chinese consumers shopping online, plus brands and sellers that use JD to reach those consumers. What makes JD different is that it is not just a website that matches buyers and sellers. It also owns and runs much of the delivery and warehouse network that supports the business. That makes JD a mix of retailer, marketplace operator, and logistics provider, which gives it more control over service quality and delivery speed than a typical online marketplace.

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Last Earnings Call
Fiscal Period
Q2 2026
Call Date
Aug 13, 2026
AI Summary
Q2 2026

Profitability: JD.com said Q2 was a turning point for profitability, with non-GAAP net income up 20.8% year on year to RMB 8.9 billion and margins expanding despite a slight revenue decline.

Revenue mix: Total revenue fell 2.9% to RMB 346 billion, but service revenue and marketplace and marketing revenue grew faster than total sales, helping support margins.

JD Retail: JD Retail remained the main profit engine, with gross margin rising to 18.5% and operating margin reaching 4.6%, both described as record highs for a peak promotional quarter.

Food delivery: JD Food Delivery narrowed losses by more than 50% year on year and management said the business is still improving unit economics while creating cross-sell benefits for the core retail business.

Second-half outlook: Management expects JD Retail growth to reaccelerate in the second half as the trade-in comparison base fades, electronics price pressure eases, and advertising monetization improves.

Capital returns: JD repurchased about USD 1 billion of stock in the first half and reiterated a commitment to dividends and buybacks as part of long-term shareholder returns.

AI and automation: The company said AI and logistics automation are being integrated more deeply across search, recommendations, customer service, forecasting and warehouse operations to improve efficiency and conversion.

Key Financials
Total revenue
RMB 346 billion
Non-GAAP net income attributable to ordinary shareholders
RMB 8.9 billion
Non-GAAP net margin
2.6%
JD Retail revenue
RMB 295 billion
JD Retail gross margin
18.5%
JD Retail operating margin
4.6%
JD Retail non-GAAP operating profit
RMB 13.5 billion
Service revenue
up 6.8% year on year
Marketplace and marketing revenue
up 8.3% year on year
Logistics and other service revenue
up 5.9% year on year
JD Logistics revenue
RMB 64.1 billion
JD Logistics non-GAAP operating income
RMB 2.3 billion
JD Logistics operating margin
3.5%
New Businesses revenue
RMB 7.3 billion
New Businesses operating loss
RMB 9.9 billion
Free cash flow
RMB 31 billion
Cash and cash equivalents, restricted cash and short-term investments
RMB 235 billion
Share repurchases in first half
approximately 69.9 million Class A ordinary shares
Other Earnings Calls

Management

Mr. Qiangdong Liu
Founder & Chairman

Qiangdong Liu, also known as Richard Liu, is the founder and former CEO of JD.com, one of China's largest e-commerce companies. Born on March 10, 1973, in Suqian, Jiangsu province, China, Liu grew up in a rural area and experienced poverty as a child. Despite the challenges, he was able to attend Renmin University of China, where he earned a degree in sociology in 1996. Liu later pursued an EMBA from the China Europe International Business School. Liu started his entrepreneurial journey by opening a retail business selling magneto-optical drives in Beijing in 1998. However, the outbreak of the SARS epidemic in 2003 forced him to close his physical stores and switch entirely to online operations. This decision led to the founding of JD.com, originally known as Jingdong Mall, in 2004. Under Liu's leadership, JD.com experienced rapid growth, expanding its product categories and investing heavily in logistics and technology to enhance user experience. Liu's vision of building an extensive logistics network helped the company establish a competitive advantage in terms of delivery speed and reliability, distinguishing it from other e-commerce platforms like Alibaba. JD.com went public on the NASDAQ in 2014, marking a significant milestone as it became one of the largest ever U.S. listings by a Chinese company. Throughout his career at JD.com, Liu has been recognized for his innovative approach to e-commerce and logistics. However, his journey has also faced challenges, including legal issues and shifts in leadership roles within the company. Despite stepping down from his role as CEO in 2021, Liu remains an influential figure in the company's strategic direction as JD.com's Chairman. Liu is also known for his philanthropic efforts, particularly in education and poverty alleviation, reflecting his commitment to social responsibility.

Mr. Su Shan
Chief Financial Officer

Su Shan is a prominent executive at JD.com Inc., one of China's largest e-commerce companies. He holds the position of Chief Financial Officer (CFO) at JD.com. Su Shan is responsible for overseeing the company's financial operations, strategic investments, and economic planning. Su Shan has an extensive background in finance and management, with experience in working for both multinational corporations and major financial institutions. Prior to joining JD.com, he held several significant roles in finance. His expertise spans areas such as financial management, strategic investments, risk management, and mergers and acquisitions. Su Shan's leadership is instrumental in steering JD.com's financial strategies, ensuring robust fiscal health, operational efficiency, and supporting the company’s expansion and innovation initiatives. His contributions are pivotal in navigating the company through the complexities of the modern digital marketplace and fostering sustainable growth. His academic background includes degrees in finance and business administration, which laid the foundation for his successful career in the financial sector. Su Shan is recognized for his strategic vision, analytical skills, and ability to drive performance in the fast-paced environment of e-commerce.

Mr. Ruiyu Li
Senior Director of Investor Relations

Ruiyu Li is recognized as the Chief Compliance Officer of JD.com, Inc. JD.com is one of China's largest e-commerce companies, often compared to Amazon in the Western world due to its extensive logistics network and diverse product offerings. As the Chief Compliance Officer, Ruiyu Li is responsible for ensuring that the company adheres to legal regulations and internal policies, managing risk, and promoting ethical standards across operations. His role is crucial in maintaining the company's reputation and operational integrity, especially in the highly competitive and regulated environment of e-commerce in China. His leadership helps guide JD.com through the complexities of legal compliance, safeguarding the company's interests and supporting its growth objectives.

Mr. Chengfeng He
Chief Compliance Officer

Chengfeng He is a notable figure at JD.com Inc., one of China's largest e-commerce companies. He is the Chief Financial Officer (CFO) of the company, a role he assumed in August 2023. Prior to this, he garnered extensive experience in finance and management. Before joining JD.com, Chengfeng He worked at PwC for over 15 years, where he held various leadership positions and gained significant expertise in financial management and audit. At JD.com, he is responsible for overseeing financial operations, strategies, and compliance, playing a crucial role in guiding the company's financial decisions and growth strategies. His appointment as CFO is part of JD.com's efforts to reinforce its financial team with experienced professionals, ensuring robust fiscal management as the company continues to expand its operations both domestically and internationally.

Ms. Pang Zhang
Chief Human Resources Officer

Ms. Pang Zhang is the Chief Human Resources Officer at JD.com Inc., a leading Chinese e-commerce company. She is responsible for overseeing all aspects of human resources management and development at JD.com, including talent acquisition, organizational development, employee relations, and human resources strategy. With a focus on fostering a strong company culture and enhancing employee engagement, Ms. Zhang plays a critical role in supporting the company's growth and innovation. She brings extensive experience in human resources and leadership to her role at JD.com, contributing to the company's reputation as an employer of choice in the competitive tech industry.

Mr. Sean Shibiao Zhang
Director of Investor Relations

Sean Shibiao Zhang is known for his role at JD.com Inc., a leading Chinese e-commerce company. He has held several important positions within the organization. As the Chief Human Resources Officer (CHRO), Zhang was responsible for overseeing the company's global HR operations, focusing on talent acquisition, development, and retention, as well as cultivating organizational culture. Zhang has been an integral part of JD.com through its growth phases, contributing to its strategic initiatives related to human capital. His work often involves aligning HR strategies with the business objectives of JD.com to foster innovation and maintain a competitive edge in the e-commerce industry. With his vast experience in HR, Sean Zhang plays a critical role in driving JD.com's employee-centered policies and growth strategies.

Mr. Daxue Li
Advisor

Daxue Li is a prominent executive associated with JD.com, Inc., one of China's leading e-commerce companies. He has played a significant role in the company's operations and strategic growth. Li has been involved in various executive roles within JD.com, contributing to the advancement of its technology and logistics infrastructure. His leadership has been instrumental in enhancing efficiency and customer service, thereby strengthening JD.com's position in the highly competitive e-commerce market. Under his guidance, the company has continued to innovate and expand its services, maintaining a focus on delivering quality and convenience to customers.

Jia Dong
Investor Relations of Associate Director

As of now, there isn't a specific public figure named Jia Dong who is prominently associated with JD.com Inc. JD.com, one of China's leading e-commerce companies, is known for its founder and former CEO, Richard Liu Qiangdong. However, if Jia Dong is a less public-facing or emerging executive within the organization, there might be limited publicly available information. If there's a chance of a name variation or different individual you might be referring to, additional context could be helpful. Otherwise, I can conclude that Jia Dong is not a notable executive in publicly available records related to JD.com.

Contacts

Address
BEIJING
Beijing
Kechuang 11 Street, Yizhuang Economic and Technological Development Zone
Contacts
+861089118888
corporate.jd.com