JD-SW (09618) achieved revenue of 356.7 billion yuan in the second quarter, a year-on-year increase of 22.4%, and continues to expand into new growth areas.

JD-SW (09618) released the financial results for the second quarter and mid-year of 2025. In the second quarter, the company achieved a revenue of 356.7 billion yuan, an increase of 22.4% year-on-year; the net profit attributable to ordinary shareholders of the company was 6.2 billion yuan; diluted earnings per American depositary share were 4.15 yuan; and basic earnings per share were 2.17 yuan. For the six months ended June 30, 2025, the group's revenue was 657.742 billion yuan, an increase of 19.28% year-on-year; the net profit attributable to ordinary shareholders of the company was 17.068 billion yuan; and basic earnings per share were 5.95 yuan. "In the second quarter, JD's platform saw significant growth in user traffic, quarterly active users, and user purchase frequency, primarily driven by the continued momentum of core JD Retail and new businesses such as delivery," said JD Group CEO Xu Ran. "This quarter, JD Retail revenue increased by 20.6% year-on-year, showing strong performance, with an operating profit margin of 4.5%, setting a new record for the highest profit margin in the company's history for all major promotional quarters. During the same period, JD's delivery business also achieved healthy development, not only steadily advancing in terms of order volume growth, expansion of merchant numbers, and recruitment of full-time riders but also more importantly forming effective synergy with JD Retail and other existing businesses to successfully achieve our initial strategic goals. Looking ahead, as we continue to focus on user experience, cost, and efficiency, we believe that the core retail business will always be the cornerstone of JD's business landscape, while we will also continue to expand into new growth areas in line with our long-term strategic plan." "In the second quarter, JD Group's total revenue increased by 22.4% year-on-year, fully reflecting our supply chain strength and relentless pursuit of high-quality user experience," said JD Group's CFO Shan Su. "The core retail business continued to release its potential, improve operational efficiency, and as of the second quarter, JD Retail gross profit margin has achieved consecutive year-on-year growth for 13 quarters, and the operating profit margin has also maintained a steady upward trend. While the momentum of the core retail business continues to strengthen, we will also gradually promote the strategic implementation of new businesses such as JD Delivery at a reasonable pace, ensuring that every step JD takes will accumulate momentum for long-term value creation." During JD 618, JD Supermarket introduced a variety of products with obvious JD "labels," such as large brands of milk and yogurt in 211 milliliter packaging, as well as white wine in 211 milliliter and 618 milliliter packaging. JD Supermarket provides consumers with differentiated shopping experiences through customized packaging, IP, gift sets, craftsmanship, functionality, and materials in 6 categories of customized product assortments. At the same time, these tailored assortments also help many brand merchants avoid falling into homogenized competition and price wars, bringing new growth opportunities to the entire retail industry. This is one of the most tangible manifestations of JD's supply chain advantages. In the second quarter of 2025, JD MALL opened new stores in multiple cities including Beijing, Shenzhen, Nanjing, Wuhan, and Taiyuan. By the end of June 2025, JD MALL had a total of 24 store openings. Different from traditional offline stores, JD MALL relies on JD's strong supply chain capabilities, and through the deep integration of Wuxi Online Offline Communication Information Technology Co., Ltd.'s data, services, and scenes, it provides consumers with an immersive, digital, and "one-stop" shopping experience. In the first half of 2025, JD LOGISTICS' self-developed efficient intelligent warehousing solution "Intelligent Wolf" system has entered into large-scale nationwide application, with deployment implemented in various types of warehouses in core cities such as Beijing, Guangzhou, Chengdu, and Fuzhou. JD LOGISTICS is accelerating its smart layout. The "Intelligent Wolf" system integrates core components such as Siasun Robot & Automation's handling, flying ladder, and vertical shelves, as well as auxiliary facilities such as automatic warehousing and picking workstations, and automatic return lines for empty boxes, making full use of the 12-meter clear space in the warehouse for high-density storage. The application of the "Intelligent Wolf" system has significantly improved the efficiency of warehouse operations. In warehouses with tens of thousands of SKUs, picking can be completed in seconds. In the second quarter of 2025, JD Delivery continued to develop healthily. During JD 618, the daily order volume for delivery exceeded 25 million, over 1.5 million high-quality merchants joined, and by the end of the second quarter, the scale of full-time riders exceeded 150,000. JD Delivery is deeply rooted in JD's overall ecosystem and not a separate business, it will continue to play a synergistic value with JD's existing businesses, including user-side, fulfillment-side, and supply-side, providing momentum for JD's long-term efficiency improvement and healthy growth. In addition, in July 2025, JD launched Seven Fresh Kitchen, which cooperates with partners to develop signature dishes through the "dish partner model." Seven Fresh Kitchen is committed to innovating and reforming the supply chain model in the food delivery market, using supply chain innovation to drive the industry's high-quality development.