JD.com Announces Third Quarter 2024 Results
JD.com reported strong Q3 2024 financial results with net revenues of RMB260.4 billion, up 5.1% year-over-year. The company saw significant improvements in profitability with operating income increasing 29.5% to RMB12.0 billion and net income rising 47.8% to RMB11.7 billion. Operating margin improved to 4.6% from 3.8% year-over-year. The company completed its US$3.0 billion share repurchase program and launched a new US$5.0 billion program through August 2027. Growth was driven by electronics, home appliances, and general merchandise sales, with the latter showing particularly robust performance.
JD.com ha riportato risultati finanziari solidi per il Q3 2024 con entrate nette di RMB260,4 miliardi, in aumento del 5,1% rispetto all'anno precedente. L'azienda ha registrato miglioramenti significativi nella redditività, con un aumento del reddito operativo del 29,5% a RMB12,0 miliardi e un incremento del reddito netto del 47,8% a RMB11,7 miliardi. Il margine operativo è migliorato al 4,6% rispetto al 3,8% dell'anno precedente. L'azienda ha completato il suo programma di riacquisto di azioni da 3,0 miliardi di dollari e ha avviato un nuovo programma di 5,0 miliardi di dollari fino ad agosto 2027. La crescita è stata trainata dalle vendite di elettronica, elettrodomestici e merci generali, con quest'ultima che ha mostrato una performance particolarmente robusta.
JD.com reportó resultados financieros sólidos para el Q3 2024 con ingresos netos de RMB260,4 mil millones, un aumento del 5,1% en comparación con el año anterior. La compañía vio mejoras significativas en su rentabilidad, con un incremento del ingreso operativo del 29,5% a RMB12,0 mil millones y un aumento del ingreso neto del 47,8% a RMB11,7 mil millones. El margen operativo mejoró al 4,6% desde el 3,8% del año anterior. La empresa completó su programa de recompra de acciones de 3,0 mil millones de dólares y lanzó un nuevo programa de 5,0 mil millones de dólares hasta agosto de 2027. El crecimiento fue impulsado por las ventas de electrónica, electrodomésticos y mercancías generales, siendo estas últimas las que mostraron un rendimiento particularmente robusto.
JD.com은 2024년 3분기 강력한 재무 결과를 보고했으며, 순수익이 RMB260.4억 달러로 작년 대비 5.1% 증가했습니다. 회사는 영업 소득이 29.5% 증가하여 RMB12.0억 달러에 이르고, 순이익이 47.8% 증가하여 RMB11.7억 달러에 도달하는 등 수익성에서 중요한 개선을 보였습니다. 영업 마진은 작년 3.8%에서 4.6%로 향상되었습니다. 회사는 30억 달러 규모의 자사주 매입 프로그램을 완료했으며, 2027년 8월까지 50억 달러 규모의 새로운 프로그램을 시작했습니다. 성장은 전자 제품, 가전 제품 및 일반 상품 판매에 의해 주도되었으며, 특히 일반 상품 판매가 강력한 성과를 보였습니다.
JD.com a annoncé de solides résultats financiers pour le Q3 2024, avec des revenus nets de RMB260,4 milliards, en hausse de 5,1 % par rapport à l'année précédente. L'entreprise a constaté d'importantes améliorations de sa rentabilité, avec un revenu d'exploitation en hausse de 29,5 % pour atteindre RMB12,0 milliards et un revenu net en hausse de 47,8 % pour atteindre RMB11,7 milliards. La marge opérationnelle s'est améliorée pour atteindre 4,6 %, contre 3,8 % l'année précédente. L'entreprise a achevé son programme de rachat d'actions de 3,0 milliards de dollars et a lancé un nouveau programme de 5,0 milliards de dollars jusqu'en août 2027. La croissance a été stimulée par les ventes d'électroniques, d'appareils ménagers et de marchandises générales, ce dernier affichant des performances particulièrement robustes.
JD.com berichtete über starke Finanzzahlen für das Q3 2024 mit Nettoeinnahmen von RMB260,4 Milliarden, was einem Anstieg von 5,1% im Vergleich zum Vorjahr entspricht. Das Unternehmen verzeichnete erhebliche Verbesserungen bei der Rentabilität, wobei das Betriebsergebnis um 29,5% auf RMB12,0 Milliarden anstieg und der Nettogewinn um 47,8% auf RMB11,7 Milliarden zunahm. Die Betriebsmarge verbesserte sich von 3,8% im Vorjahr auf 4,6%. Das Unternehmen hat sein Rückkaufprogramm von Aktien in Höhe von 3,0 Milliarden US-Dollar abgeschlossen und ein neues Programm in Höhe von 5,0 Milliarden US-Dollar bis August 2027 gestartet. Das Wachstum wurde durch Verkäufe von Elektronik, Haushaltsgeräten und allgemeinen Waren angetrieben, wobei letzteres besonders stark abschneidet.
- Net revenues increased 5.1% YoY to RMB260.4 billion
- Operating income grew 29.5% YoY to RMB12.0 billion
- Net income rose 47.8% YoY to RMB11.7 billion
- Operating margin improved to 4.6% from 3.8%
- Launched new US$5.0 billion share repurchase program
- General merchandise revenues increased 8.0% YoY
- Marketing expenses increased 25.7% YoY
- Research and development expenses rose 15.9% YoY
- Negative free cash flow of RMB13.8 billion in Q3 2024
Insights
BEIJING, Nov. 14, 2024 (GLOBE NEWSWIRE) -- JD.com, Inc. (NASDAQ: JD and HKEX: 9618 (HKD counter) and 89618 (RMB counter), the “Company” or “JD.com”), a leading supply chain-based technology and service provider, today announced its unaudited financial results for the three months ended September 30, 2024.
Third Quarter 2024 Highlights
- Net revenues were RMB260.4 billion (US$137.1 billion) for the third quarter of 2024, an increase of
5.1% from the third quarter of 2023. - Income from operations was RMB12.0 billion (US
$1.7 billion ) for the third quarter of 2024, an increase of29.5% from the third quarter of 2023. Operating margin was4.6% for the third quarter of 2024, compared to3.8% for the third quarter of 2023. Non-GAAP2 income from operations was RMB13.1 billion (US$1.9 billion ) for the third quarter of 2024, an increase of17.9% from the third quarter of 2023. Non-GAAP operating margin was5.0% for the third quarter of 2024, compared to4.5% for the third quarter of 2023. - Net income attributable to the Company's ordinary shareholders was RMB11.7 billion (US
$1.7 billion ) for the third quarter of 2024, an increase of47.8% from the third quarter of 2023. Net margin attributable to the Company's ordinary shareholders was4.5% for the third quarter of 2024, compared to3.2% for the third quarter of 2023. Non-GAAP net income attributable to the Company's ordinary shareholders was RMB13.2 billion (US$1.9 billion ) for the third quarter of 2024, an increase of23.9% from the third quarter of 2023. Non-GAAP net margin attributable to the Company's ordinary shareholders was5.1% for the third quarter of 2024, compared to4.3% for the third quarter of 2023. - Diluted net income per ADS was RMB7.73 (US
$1.10) for the third quarter of 2024, an increase of54.6% from RMB5.00 for the third quarter of 2023. Non-GAAP diluted net income per ADS was RMB8.68 (US$1.24) for the third quarter of 2024, an increase of29.5% from RMB6.70 for the third quarter of 2023.
“We saw an uptick in our topline growth, as well as healthy profitability in the third quarter, as overall consumer sentiment continued to brighten," said Sandy Xu, Chief Executive Officer of JD.com. "During the quarter, we were able to play an important role in China’s trade-in program, thanks to our leading supply chain capabilities and fulfillment infrastructure that we’ve built over the past two decades. Our general merchandise category also grew robustly in the quarter, driven by our efforts in driving better user experience and user mindshare, which were also highlighted by the enthusiastic user response to our Singles Day Grand Promotion this year. We believe we’ve laid a solid foundation for sustainable operational and financial progress in the months and years ahead."
“In the third quarter, our total revenues increased by
Updates of Share Repurchase Program
The Company repurchased a total of approximately 31.0 million Class A ordinary shares (equivalent of 15.5 million ADSs) for a total of approximately US
The total number of ordinary shares repurchased by the Company for the three months ended September 30, 2024 amounted to approximately
The Company has fully utilized the repurchase amount authorized under its US
Business Highlights
- JD Retail:
Since August 26, 2024, China’s government-backed trade-in programs in over 20 provinces and cities, including Beijing, Guangzhou, Shanghai, Zhejiang, and Sichuan, among others, have been launched on JD.com. With years of experience in first-party business model, advanced logistics and fulfillment capabilities and other differentiated supply-chain expertise, JD.com offers customers a wealth of product selections and industry-leading integrated services covering delivery, installation, dismantling and cleaning, along with a seamless process for customers to benefit from the government subsidies effortlessly. JD.com’s trade-in offerings have been well received by customers.
In the third quarter, JD.com announced its expansion in the apparel and accessories business, committed to becoming a premier destination for stylish fashion items. By enriching product selections and providing superior shopping experience, the initiative aims to promote the user mindshare of “shopping for clothing on JD.com” while boosting growth for both domestic and international brands. In addition, during the third quarter, the French luxury brands BALENCIAGA and SAINT LAURENT unveiled their official flagship stores on JD.com.
On September 5, 2024, JD Super, JD.com’s supermarket division, celebrated its 10th anniversary. As an important component of the Company’s strategic vision for the coming decade, JD Super will further boost the core competencies of partnered brands, including supply chain efficiency, product competitiveness, and cost-effectiveness, supporting them to achieve high-quality, sustainable growth on JD.com.
- JD Health:
During the third quarter, JD Health made further progress in innovating its service model, enabling online payment through individual medical insurance accounts in ten cities, including Guangzhou, Shenzhen, and Chengdu. As of September 30, 2024, JD Health had cumulatively introduced such services in twelve cities, with access to nearly 2,000 medical insurance-designated retail pharmacies, covering a population of over 100 million.
- JD Logistics:
JD Logistics and Taobao and Tmall Group recently reached a cooperation, under which JD Logistics will connect with the Taobao and Tmall platforms. As of mid-October 2024, the parties have mostly completed the system integration. A large number of merchants on the Taobao and Tmall platforms have selected JD Logistics as a service provider, and users are also able to track JD Logistics shipments within the Taobao and Tmall apps.
Environment, Social and Governance
- JD.com excelled in the 2024 Standard & Poor’s Global Corporate Sustainability Assessment, with a notable increase in its score compared to last year and a leading position in the global retail sector. This achievement is primarily attributable to JD.com’s commitment to ESG, particularly its efforts in areas such as enhancing governance for compliance, supporting employee development, strengthening supplier management, and further optimizing ESG information disclosure.
- Driven by JD.com’s unwavering commitment and unremitting efforts to creating more jobs and making contribution to the society, the Company’s total expenditure for human resources, including both its own employees and external personnel who work for the Company, amounted to RMB111.6 billion for the twelve months ended September 30, 2024.
Third Quarter 2024 Financial Results
Net Revenues. Net revenues increased by
Cost of Revenues. Cost of revenues increased by
Fulfillment Expenses. Fulfillment expenses, which primarily include procurement, warehousing, delivery, customer service and payment processing expenses, increased by
Marketing Expenses. Marketing expenses increased by
Research and Development Expenses. Research and development expenses increased by
General and Administrative Expenses. General and administrative expenses decreased by
Income from Operations and Non-GAAP Income from Operations. Income from operations increased by
Non-GAAP EBITDA. Non-GAAP EBITDA increased by
Net Income Attributable to the Company's Ordinary Shareholders and Non-GAAP Net Income Attributable to the Company's Ordinary Shareholders. Net income attributable to the Company's ordinary shareholders increased by
Diluted EPS and Non-GAAP Diluted EPS. Diluted net income per ADS increased by
Cash Flow and Working Capital
As of September 30, 2024, the Company's cash and cash equivalents, restricted cash and short-term investments totaled RMB196.8 billion (US
| For the three months ended | |||||||||
| September 30, 2023 | September 30, 2024 | September 30, 2024 | |||||||
| RMB | RMB | US$ | |||||||
| (In millions) | |||||||||
| Net cash provided by/(used in) operating activities | 15,004 | (6,219 | ) | (886 | ) | ||||
| Less: Impact from consumer financing receivables included in the operating cash flow | (1,747 | ) | (2,232 | ) | (318 | ) | |||
| Less: Capital expenditures, net of related sales proceeds | |||||||||
| Capital expenditures for development properties | (3,013 | ) | (3,461 | ) | (493 | ) | |||
| Other capital expenditures* | (1,980 | ) | (1,897 | ) | (271 | ) | |||
| Free cash flow | 8,264 | (13,809 | ) | (1,968 | ) | ||||
* Including capital expenditures related to the Company's headquarters in Beijing and all other CAPEX.
Net cash used in operating activities was RMB6.2 billion (US
Net cash provided by investing activities was RMB21.7 billion (US
Net cash used in financing activities was RMB1.8 billion (US
For the twelve months ended September 30, 2024, free cash flow of the Company was as follows:
| For the twelve months ended | |||||||||
| September 30, 2023 | September 30, 2024 | September 30, 2024 | |||||||
| RMB | RMB | US$ | |||||||
| (In millions) | |||||||||
| Net cash provided by operating activities | 58,394 | 52,817 | 7,526 | ||||||
| Add/(Less): Impact from consumer financing receivables included in the operating cash flow | 451 | (1,124 | ) | (160 | ) | ||||
| Less: Capital expenditures, net of related sales proceeds | |||||||||
| Capital expenditures for development properties | (13,618 | ) | (11,007 | ) | (1,568 | ) | |||
| Other capital expenditures | (5,831 | ) | (7,117 | ) | (1,014 | ) | |||
| Free cash flow | 39,396 | 33,569 | 4,784 | ||||||
Supplemental Information
From the first quarter of 2024, the Company started to report three segments, JD Retail, JD Logistics and New Businesses, to reflect changes made to the reporting structure whose financial information is reviewed by the chief operating decision maker of the Company under its ongoing operating strategies. JD Retail, including JD Health and JD Industrials, among other components, mainly engages in online retail, online marketplace and marketing services in China. JD Logistics includes both internal and external logistics businesses. New Businesses mainly include Dada, JD Property, Jingxi and overseas businesses.
The table below sets forth the segment operating results, with prior period segment information retrospectively recast to conform to the current period presentation:
| For the three months ended | For the nine months ended | ||||||||||||||||
| September 30, 2023 | September 30, 2024 | September 30, 2024 | September 30, 2023 | September 30, 2024 | September 30, 2024 | ||||||||||||
| RMB | RMB | US$ | RMB | RMB | US$ | ||||||||||||
| (In millions, except percentage data) | |||||||||||||||||
| Net revenues: | |||||||||||||||||
| JD Retail | 212,059 | 224,986 | 32,060 | 677,697 | 708,893 | 101,016 | |||||||||||
| JD Logistics | 41,663 | 44,396 | 6,326 | 119,424 | 130,740 | 18,630 | |||||||||||
| New Businesses | 6,685 | 4,970 | 708 | 19,838 | 14,476 | 2,063 | |||||||||||
| Inter-segment eliminations* | (12,709 | ) | (13,965 | ) | (1,989 | ) | (38,374 | ) | (42,276 | ) | (6,024 | ) | |||||
| Total consolidated net revenues | 247,698 | 260,387 | 37,105 | 778,585 | 811,833 | 115,685 | |||||||||||
| Operating income/(loss): | |||||||||||||||||
| JD Retail | 11,001 | 11,608 | 1,654 | 28,988 | 31,041 | 4,423 | |||||||||||
| JD Logistics | 288 | 2,086 | 297 | (325 | ) | 4,493 | 640 | ||||||||||
| New Businesses | (192 | ) | (615 | ) | (87 | ) | 466 | (1,980 | ) | (281 | ) | ||||||
| Including: gain on sale of development properties | — | — | — | 1,481 | — | — | |||||||||||
| Total segment operating income | 11,097 | 13,079 | 1,864 | 29,129 | 33,554 | 4,782 | |||||||||||
| Unallocated items** | (1,794 | ) | (1,035 | ) | (147 | ) | (5,129 | ) | (3,309 | ) | (472 | ) | |||||
| Total consolidated operating income | 9,303 | 12,044 | 1,717 | 24,000 | 30,245 | 4,310 | |||||||||||
| YoY% change of net revenues: | |||||||||||||||||
| JD Retail | 0.1 | % | 6.1 | % | 1.0 | % | 4.6 | % | |||||||||
| JD Logistics | 16.5 | % | 6.6 | % | 26.5 | % | 9.5 | % | |||||||||
| New Businesses | (9.4 | )% | (25.7 | )% | (11.3 | )% | (27.0 | )% | |||||||||
| Operating margin: | |||||||||||||||||
| JD Retail | 5.2 | % | 5.2 | % | 4.3 | % | 4.4 | % | |||||||||
| JD Logistics | 0.7 | % | 4.7 | % | (0.3 | )% | 3.4 | % | |||||||||
| New Businesses | (2.9 | )% | (12.4 | )% | 2.3 | % | (13.7 | )% | |||||||||
* The inter-segment eliminations mainly consist of revenues from supply chain solutions and logistics services provided by JD Logistics to JD Retail, on-demand delivery and retail services provided by Dada to JD Retail and JD Logistics, and property leasing services provided by JD Property to JD Logistics.
** Unallocated items include share-based compensation, amortization of intangible assets resulting from assets and business acquisitions, effects of business cooperation arrangements, and impairment of goodwill and intangible assets, which are not allocated to segments.
The table below sets forth the revenue information:
| For the three months ended | |||||||
| September 30, 2023 | September 30, 2024 | September 30, 2024 | YoY% Change | ||||
| RMB | RMB | US$ | |||||
| (In millions, except percentage data) | |||||||
| Electronics and home appliances revenues | 119,316 | 122,560 | 17,465 | 2.7 | % | ||
| General merchandise revenues | 75,988 | 82,053 | 11,692 | 8.0 | % | ||
| Net product revenues | 195,304 | 204,613 | 29,157 | 4.8 | % | ||
| Marketplace and marketing revenues | 19,529 | 20,763 | 2,959 | 6.3 | % | ||
| Logistics and other service revenues | 32,865 | 35,011 | 4,989 | 6.5 | % | ||
| Net service revenues | 52,394 | 55,774 | 7,948 | 6.5 | % | ||
| Total net revenues | 247,698 | 260,387 | 37,105 | 5.1 | % | ||
| For the nine months ended | |||||||
| September 30, 2023 | September 30, 2024 | September 30, 2024 | YoY% Change | ||||
| RMB | RMB | US$ | |||||
| (In millions, except percentage data) | |||||||
| Electronics and home appliances revenues | 388,446 | 390,833 | 55,693 | 0.6 | % | ||
| General merchandise revenues | 236,277 | 256,196 | 36,508 | 8.4 | % | ||
| Net product revenues | 624,723 | 647,029 | 92,201 | 3.6 | % | ||
| Marketplace and marketing revenues | 61,100 | 63,477 | 9,045 | 3.9 | % | ||
| Logistics and other service revenues | 92,762 | 101,327 | 14,439 | 9.2 | % | ||
| Net service revenues | 153,862 | 164,804 | 23,484 | 7.1 | % | ||
| Total net revenues | 778,585 | 811,833 | 115,685 | 4.3 | % | ||
Conference Call
JD.com's management will hold a conference call at 7:00 am, Eastern Time on November 14, 2024, (8:00 pm, Beijing/Hong Kong Time on November 14, 2024) to discuss its financial results for the three months ended September 30, 2024.
Please register in advance of the conference using the link provided below and dial in 15 minutes prior to the call, using participant dial-in numbers, the Passcode and unique access PIN which would be provided upon registering. You will be automatically linked to the live call after completion of this process, unless required to provide the conference ID below due to regional restrictions.
PRE-REGISTER LINK: https://s1.c-conf.com/diamondpass/10042830-skvylg.html
CONFERENCE ID: 10042830
A telephone replay will be available for one week until November 21, 2024. The dial-in details are as follows:
| US: | +1-855-883-1031 |
| International: | +61-7-3107-6325 |
| Hong Kong: | 800-930-639 |
| Mainland China: | 400-120-9216 |
| Passcode: | 10042830 |
Additionally, a live and archived webcast of the conference call will also be available on the JD.com's investor relations website at http://ir.jd.com.
About JD.com
JD.com is a leading supply chain-based technology and service provider. The Company's cutting-edge retail infrastructure seeks to enable consumers to buy whatever they want, whenever and wherever they want it. The Company has opened its technology and infrastructure to partners, brands and other sectors, as part of its Retail as a Service offering to help drive productivity and innovation across a range of industries.
Non-GAAP Measures
In evaluating the business, the Company considers and uses non-GAAP measures, such as non-GAAP income/(loss) from operations, non-GAAP operating margin, non-GAAP net income/(loss) attributable to the Company's ordinary shareholders, non-GAAP net margin attributable to the Company's ordinary shareholders, free cash flow, non-GAAP EBITDA, non-GAAP EBITDA margin, non-GAAP net income/(loss) per share and non-GAAP net income/(loss) per ADS, as supplemental measures to review and assess operating performance. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The Company defines non-GAAP income/(loss) from operations as income/(loss) from operations excluding share-based compensation, amortization of intangible assets resulting from assets and business acquisitions, effects of business cooperation arrangements, gain on sale of development properties and impairment of goodwill and long-lived assets. The Company defines non-GAAP net income/(loss) attributable to the Company's ordinary shareholders as net income/(loss) attributable to the Company's ordinary shareholders excluding share-based compensation, amortization of intangible assets resulting from assets and business acquisitions, effects of business cooperation arrangements and non-compete agreements, gain/(loss) on disposals/deemed disposals of investments and others, reconciling items on the share of equity method investments, loss/(gain) from fair value change of long-term investments, impairment of goodwill, long-lived assets and investments, gain in relation to sale of development properties and tax effects on non-GAAP adjustments. The Company defines free cash flow as operating cash flow adjusting the impact from consumer financing receivables included in the operating cash flow and capital expenditures, net of the proceeds from sale of development properties. Capital expenditures include purchase of property, equipment and software, cash paid for construction in progress, purchase of intangible assets and land use rights. The Company defines non-GAAP EBITDA as non-GAAP income/(loss) from operations plus depreciation and amortization excluding amortization of intangible assets resulting from assets and business acquisitions. Non-GAAP basic net income/(loss) per share is calculated by dividing non-GAAP net income/(loss) attributable to the Company's ordinary shareholders by the weighted average number of ordinary shares outstanding during the periods. Non-GAAP diluted net income/(loss) per share is calculated by dividing non-GAAP net income/(loss) attributable to the Company's ordinary shareholders by the weighted average number of ordinary shares and dilutive potential ordinary shares outstanding during the periods, including the dilutive effects of share-based awards as determined under the treasury stock method. Non-GAAP net income/(loss) per ADS is equal to non-GAAP net income/(loss) per share multiplied by two.
The Company presents these non-GAAP financial measures because they are used by management to evaluate operating performance and formulate business plans. Non-GAAP income/(loss) from operations, non-GAAP net income/(loss) attributable to the Company's ordinary shareholders and non-GAAP EBITDA reflect the Company's ongoing business operations in a manner that allows more meaningful period-to-period comparisons. Free cash flow enables management to assess liquidity and cash flow while taking into account the impact from consumer financing receivables included in the operating cash flow and the demands that the expansion of fulfillment infrastructure and technology platform has placed on financial resources. The Company believes that the use of the non-GAAP financial measures facilitates investors to understand and evaluate the Company's current operating performance and future prospects in the same manner as management does, if they so choose. The Company also believes that the non-GAAP financial measures provide useful information to both management and investors by excluding certain expenses, gain/loss and other items that are not expected to result in future cash payments or that are non-recurring in nature or may not be indicative of the Company's core operating results and business outlook.
The non-GAAP financial measures have limitations as analytical tools. The Company's non-GAAP financial measures do not reflect all items of income and expense that affect the Company's operations or not represent the residual cash flow available for discretionary expenditures. Further, these non-GAAP measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited. The Company compensates for these limitations by reconciling the non-GAAP financial measures to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating performance. The Company encourages you to review the Company's financial information in its entirety and not rely on a single financial measure.
CONTACTS:
Investor Relations
Sean Zhang
+86 (10) 8912-6804
IR@JD.com
Media Relations
+86 (10) 8911-6155
Press@JD.com
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as JD.com's strategic and operational plans, contain forward-looking statements. JD.com may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in announcements made on the website of the Hong Kong Stock Exchange, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about JD.com's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: JD.com's growth strategies; its future business development, results of operations and financial condition; its ability to attract and retain new customers and to increase revenues generated from repeat customers; its expectations regarding demand for and market acceptance of its products and services; trends and competition in China's e-commerce market; changes in its revenues and certain cost or expense items; the expected growth of the Chinese e-commerce market; laws, regulations and governmental policies relating to the industries in which JD.com or its business partners operate; potential changes in laws, regulations and governmental policies or changes in the interpretation and implementation of laws, regulations and governmental policies that could adversely affect the industries in which JD.com or its business partners operate, including, among others, initiatives to enhance supervision of companies listed on an overseas exchange and tighten scrutiny over data privacy and data security; risks associated with JD.com's acquisitions, investments and alliances, including fluctuation in the market value of JD.com's investment portfolio; natural disasters and geopolitical events; change in tax rates and financial risks; intensity of competition; and general market and economic conditions in China and globally. Further information regarding these and other risks is included in JD.com's filings with the SEC and the announcements on the website of the Hong Kong Stock Exchange. All information provided herein is as of the date of this announcement, and JD.com undertakes no obligation to update any forward-looking statement, except as required under applicable law.
| JD.com, Inc. | ||||||
| Unaudited Interim Condensed Consolidated Balance Sheets | ||||||
| (In millions, except otherwise noted) | ||||||
| As of | ||||||
| December 31, 2023 | September 30, 2024 | September 30, 2024 | ||||
| RMB | RMB | US$ | ||||
| ASSETS | ||||||
| Current assets | ||||||
| Cash and cash equivalents | 71,892 | 99,092 | 14,120 | |||
| Restricted cash | 7,506 | 5,862 | 835 | |||
| Short-term investments | 118,254 | 91,801 | 13,082 | |||
| Accounts receivable, net (including consumer financing receivables of RMB2.3 billion and RMB1.2 billion as of December 31, 2023 and September 30, 2024, respectively)(1) | 20,302 | 19,714 | 2,809 | |||
| Advance to suppliers | 2,753 | 3,382 | 482 | |||
| Inventories, net | 68,058 | 72,883 | 10,386 | |||
| Prepayments and other current assets | 15,639 | 14,235 | 2,028 | |||
| Amount due from related parties | 2,114 | 3,171 | 452 | |||
| Assets held for sale | 1,292 | 962 | 137 | |||
| Total current assets | 307,810 | 311,102 | 44,331 | |||
| Non-current assets | ||||||
| Property, equipment and software, net | 70,035 | 84,203 | 11,999 | |||
| Construction in progress | 9,920 | 5,765 | 822 | |||
| Intangible assets, net | 6,935 | 6,537 | 932 | |||
| Land use rights, net | 39,563 | 38,154 | 5,437 | |||
| Operating lease right-of-use assets | 20,863 | 23,587 | 3,361 | |||
| Goodwill | 19,980 | 21,729 | 3,096 | |||
| Investment in equity investees | 56,746 | 55,107 | 7,853 | |||
| Marketable securities and other investments | 80,840 | 87,266 | 12,435 | |||
| Deferred tax assets | 1,744 | 1,656 | 236 | |||
| Other non-current assets | 14,522 | 8,453 | 1,204 | |||
| Total non-current assets | 321,148 | 332,457 | 47,375 | |||
| Total assets | 628,958 | 643,559 | 91,706 | |||
| JD.com, Inc. | ||||||
| Unaudited Interim Condensed Consolidated Balance Sheets | ||||||
| (In millions, except otherwise noted) | ||||||
| As of | ||||||
| December 31, 2023 | September 30, 2024 | September 30, 2024 | ||||
| RMB | RMB | US$ | ||||
| LIABILITIES | ||||||
| Current liabilities | ||||||
| Short-term debts | 5,034 | 9,684 | 1,380 | |||
| Accounts payable | 166,167 | 162,500 | 23,156 | |||
| Advance from customers | 31,625 | 32,352 | 4,610 | |||
| Deferred revenues | 2,097 | 2,170 | 309 | |||
| Taxes payable | 7,313 | 8,996 | 1,282 | |||
| Amount due to related parties | 1,620 | 541 | 77 | |||
| Accrued expenses and other current liabilities | 43,533 | 41,635 | 5,933 | |||
| Operating lease liabilities | 7,755 | 7,675 | 1,094 | |||
| Liabilities held for sale | 506 | — | — | |||
| Total current liabilities | 265,650 | 265,553 | 37,841 | |||
| Non-current liabilities | ||||||
| Deferred revenues | 964 | 565 | 81 | |||
| Unsecured senior notes | 10,411 | 24,126 | 3,438 | |||
| Deferred tax liabilities | 9,267 | 9,148 | 1,304 | |||
| Long-term borrowings | 31,555 | 29,721 | 4,235 | |||
| Operating lease liabilities | 13,676 | 16,792 | 2,393 | |||
| Other non-current liabilities | 1,055 | 909 | 129 | |||
| Total non-current liabilities | 66,928 | 81,261 | 11,580 | |||
| Total liabilities | 332,578 | 346,814 | 49,421 | |||
| MEZZANINE EQUITY | 614 | 471 | 67 | |||
| SHAREHOLDERS' EQUITY | ||||||
| Total JD.com, Inc. shareholders' equity (US | 231,858 | 228,611 | 32,576 | |||
| Non-controlling interests | 63,908 | 67,663 | 9,642 | |||
| Total shareholders' equity | 295,766 | 296,274 | 42,218 | |||
| TOTAL LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS' EQUITY | 628,958 | 643,559 | 91,706 | |||
| (1) JD Technology performs credit risk assessment services for consumer financing receivables business and absorbs the credit risk of the underlying consumer financing receivables. Facilitated by JD Technology, the Company periodically securitizes consumer financing receivables through the transfer of those assets to securitization plans and derecognizes the related consumer financing receivables through sales type arrangements. | ||||||
| JD.com, Inc. | ||||||||||||||||||||||||
| Unaudited Interim Condensed Consolidated Statements of Operations | ||||||||||||||||||||||||
| (In millions, except per share data) | ||||||||||||||||||||||||
| For the three months ended | For the nine months ended | |||||||||||||||||||||||
| September 30, 2023 | September 30, 2024 | September 30, 2024 | September 30, 2023 | September 30, 2024 | September 30, 2024 | |||||||||||||||||||
| RMB | RMB | US$ | RMB | RMB | US$ | |||||||||||||||||||
| Net revenues | ||||||||||||||||||||||||
| Net product revenues | 195,304 | 204,613 | 29,157 | 624,723 | 647,029 | 92,201 | ||||||||||||||||||
| Net service revenues | 52,394 | 55,774 | 7,948 | 153,862 | 164,804 | 23,484 | ||||||||||||||||||
| Total net revenues | 247,698 | 260,387 | 37,105 | 778,585 | 811,833 | 115,685 | ||||||||||||||||||
| Cost of revenues | (208,947 | ) | (215,344 | ) | (30,686 | ) | (662,383 | ) | (681,082 | ) | (97,053 | ) | ||||||||||||
| Fulfillment | (15,225 | ) | (16,278 | ) | (2,320 | ) | (47,275 | ) | (50,305 | ) | (7,168 | ) | ||||||||||||
| Marketing | (7,955 | ) | (10,000 | ) | (1,425 | ) | (27,023 | ) | (31,121 | ) | (4,435 | ) | ||||||||||||
| Research and development | (3,794 | ) | (4,396 | ) | (626 | ) | (12,052 | ) | (12,647 | ) | (1,802 | ) | ||||||||||||
| General and administrative | (2,474 | ) | (2,325 | ) | (331 | ) | (7,333 | ) | (6,433 | ) | (917 | ) | ||||||||||||
| Gain on sale of development properties | — | — | — | 1,481 | — | — | ||||||||||||||||||
| Income from operations(2)(3) | 9,303 | 12,044 | 1,717 | 24,000 | 30,245 | 4,310 | ||||||||||||||||||
| Other income/(expenses) | ||||||||||||||||||||||||
| Share of results of equity investees | 427 | 1,359 | 194 | 513 | 1,771 | 252 | ||||||||||||||||||
| Interest expense | (710 | ) | (681 | ) | (97 | ) | (1,954 | ) | (1,970 | ) | (281 | ) | ||||||||||||
| Others, net(4) | 1,782 | 2,521 | 358 | 5,785 | 9,878 | 1,408 | ||||||||||||||||||
| Income before tax | 10,802 | 15,243 | 2,172 | 28,344 | 39,924 | 5,689 | ||||||||||||||||||
| Income tax expenses | (2,579 | ) | (2,406 | ) | (343 | ) | (6,999 | ) | (6,128 | ) | (873 | ) | ||||||||||||
| Net income | 8,223 | 12,837 | 1,829 | 21,345 | 33,796 | 4,816 | ||||||||||||||||||
| Net income attributable to non-controlling interests shareholders | 287 | 1,106 | 158 | 567 | 2,291 | 326 | ||||||||||||||||||
| Net income attributable to the Company's ordinary shareholders | 7,936 | 11,731 | 1,671 | 20,778 | 31,505 | 4,490 | ||||||||||||||||||
| Net income per share: | ||||||||||||||||||||||||
| Basic | 2.52 | 4.02 | 0.57 | 6.61 | 10.44 | 1.49 | ||||||||||||||||||
| Diluted | 2.50 | 3.86 | 0.55 | 6.54 | 10.19 | 1.45 | ||||||||||||||||||
| Net income per ADS: | ||||||||||||||||||||||||
| Basic | 5.04 | 8.05 | 1.15 | 13.22 | 20.88 | 2.97 | ||||||||||||||||||
| Diluted | 5.00 | 7.73 | 1.10 | 13.09 | 20.39 | 2.91 | ||||||||||||||||||
| JD.com, Inc. | ||||||||||||||||||||||||
| Unaudited Interim Condensed Consolidated Statements of Operations | ||||||||||||||||||||||||
| (In millions, except per share data) | ||||||||||||||||||||||||
| For the three months ended | For the nine months ended | |||||||||||||||||||||||
| September 30, 2023 | September 30, 2024 | September 30, 2024 | September 30, 2023 | September 30, 2024 | September 30, 2024 | |||||||||||||||||||
| RMB | RMB | US$ | RMB | RMB | US$ | |||||||||||||||||||
| (2) Includes share-based compensation as follows: | ||||||||||||||||||||||||
| Cost of revenues | (35 | ) | (18 | ) | (3 | ) | (99 | ) | (54 | ) | (8 | ) | ||||||||||||
| Fulfillment | (239 | ) | (91 | ) | (13 | ) | (570 | ) | (309 | ) | (44 | ) | ||||||||||||
| Marketing | (112 | ) | (60 | ) | (8 | ) | (330 | ) | (223 | ) | (32 | ) | ||||||||||||
| Research and development | (203 | ) | (172 | ) | (24 | ) | (690 | ) | (511 | ) | (73 | ) | ||||||||||||
| General and administrative | (784 | ) | (437 | ) | (62 | ) | (2,135 | ) | (1,106 | ) | (157 | ) | ||||||||||||
| Total | (1,373 | ) | (778 | ) | (110 | ) | (3,824 | ) | (2,203 | ) | (314 | ) | ||||||||||||
| (3) Includes amortization of business cooperation arrangement and intangible assets resulting from assets and business acquisitions as follows: | ||||||||||||||||||||||||
| Fulfillment | (103 | ) | (10 | ) | (1 | ) | (311 | ) | (216 | ) | (31 | ) | ||||||||||||
| Marketing | (220 | ) | (229 | ) | (33 | ) | (659 | ) | (674 | ) | (96 | ) | ||||||||||||
| Research and development | (66 | ) | (18 | ) | (3 | ) | (239 | ) | (152 | ) | (22 | ) | ||||||||||||
| General and administrative | (32 | ) | — | — | (96 | ) | (64 | ) | (9 | ) | ||||||||||||||
| Total | (421 | ) | (257 | ) | (37 | ) | (1,305 | ) | (1,106 | ) | (158 | ) | ||||||||||||
| (4) Others, net are other non-operating income/(loss), primarily consist of gains/(losses) from fair value change of long-term investments, government incentives, interest income, gains/(losses) from acquirements or disposals of businesses and investments, impairment of investments, foreign exchange gains/(losses), net. | ||||||||||||||||||||||||
| JD.com, Inc. | ||||||||||||||||||||||||
| Unaudited Non-GAAP Net Income Per Share and Per ADS | ||||||||||||||||||||||||
| (In millions, except per share data) | ||||||||||||||||||||||||
| For the three months ended | For the nine months ended | |||||||||||||||||||||||
| September 30, 2023 | September 30, 2024 | September 30, 2024 | September 30, 2023 | September 30, 2024 | September 30, 2024 | |||||||||||||||||||
| RMB | RMB | US$ | RMB | RMB | US$ | |||||||||||||||||||
| Non-GAAP net income attributable to the Company's ordinary shareholders | 10,637 | 13,174 | 1,877 | 26,785 | 36,533 | 5,207 | ||||||||||||||||||
| Weighted average number of shares: | ||||||||||||||||||||||||
| Basic | 3,147 | 2,916 | 2,916 | 3,143 | 3,018 | 3,018 | ||||||||||||||||||
| Diluted | 3,170 | 3,035 | 3,035 | 3,172 | 3,088 | 3,088 | ||||||||||||||||||
| Non-GAAP net income per share: | ||||||||||||||||||||||||
| Basic | 3.38 | 4.52 | 0.64 | 8.52 | 12.10 | 1.72 | ||||||||||||||||||
| Diluted | 3.35 | 4.34 | 0.62 | 8.43 | 11.82 | 1.68 | ||||||||||||||||||
| Non-GAAP net income per ADS: | ||||||||||||||||||||||||
| Basic | 6.76 | 9.04 | 1.29 | 17.04 | 24.21 | 3.45 | ||||||||||||||||||
| Diluted | 6.70 | 8.68 | 1.24 | 16.87 | 23.64 | 3.37 | ||||||||||||||||||
| JD.com, Inc. | ||||||||||||||||||||||||
| Unaudited Interim Condensed Consolidated Statements of Cash Flows and Free Cash Flow | ||||||||||||||||||||||||
| (In millions) | ||||||||||||||||||||||||
| For the three months ended | For the nine months ended | |||||||||||||||||||||||
| September 30, 2023 | September 30, 2024 | September 30, 2024 | September 30, 2023 | September 30, 2024 | September 30, 2024 | |||||||||||||||||||
| RMB | RMB | US$ | RMB | RMB | US$ | |||||||||||||||||||
| Net cash provided by /(used in) operating activities | 15,004 | (6,219 | ) | (886 | ) | 39,908 | 33,204 | 4,732 | ||||||||||||||||
| Net cash provided by investing activities | 14,964 | 21,725 | 3,096 | 3,529 | 11,612 | 1,655 | ||||||||||||||||||
| Net cash used in financing activities | (4,486 | ) | (1,806 | ) | (257 | ) | (5,063 | ) | (18,220 | ) | (2,596 | ) | ||||||||||||
| Effects of exchange rate changes on cash, cash equivalents and restricted cash | (763 | ) | (791 | ) | (114 | ) | 338 | (1,038 | ) | (150 | ) | |||||||||||||
| Net increase in cash, cash equivalents and restricted cash | 24,719 | 12,909 | 1,839 | 38,712 | 25,558 | 3,641 | ||||||||||||||||||
| Cash, cash equivalents, and restricted cash at beginning of period, including cash and cash equivalents classified within assets held for sale | 99,149 | 92,047 | 13,116 | 85,156 | 79,451 | 11,322 | ||||||||||||||||||
| Less: Cash, cash equivalents, and restricted cash classified within assets held for sale at beginning of period | — | (2 | ) | — | * | (41 | ) | (53 | ) | (8 | ) | |||||||||||||
| Cash, cash equivalents, and restricted cash at beginning of period | 99,149 | 92,045 | 13,116 | 85,115 | 79,398 | 11,314 | ||||||||||||||||||
| Cash, cash equivalents, and restricted cash at end of period, including cash and cash equivalents classified within assets held for sale | 123,868 | 104,956 | 14,955 | 123,868 | 104,956 | 14,955 | ||||||||||||||||||
| Less: Cash, cash equivalents, and restricted cash classified within assets held for sale at end of period | — | (2 | ) | — | * | — | (2 | ) | — | * | ||||||||||||||
| Cash, cash equivalents and restricted cash at end of period | 123,868 | 104,954 | 14,955 | 123,868 | 104,954 | 14,955 | ||||||||||||||||||
| Net cash provided by/(used in) operating activities | 15,004 | (6,219 | ) | (886 | ) | 39,908 | 33,204 | 4,732 | ||||||||||||||||
| Less: Impact from consumer financing receivables included in the operating cash flow | (1,747 | ) | (2,232 | ) | (318 | ) | (743 | ) | (1,375 | ) | (196 | ) | ||||||||||||
| Less: Capital expenditures, net of related sales proceeds | ||||||||||||||||||||||||
| Capital expenditures for development properties | (3,013 | ) | (3,461 | ) | (493 | ) | (7,521 | ) | (6,411 | ) | (914 | ) | ||||||||||||
| Other capital expenditures | (1,980 | ) | (1,897 | ) | (271 | ) | (4,292 | ) | (5,148 | ) | (734 | ) | ||||||||||||
| Free cash flow | 8,264 | (13,809 | ) | (1,968 | ) | 27,352 | 20,270 | 2,888 | ||||||||||||||||
| *Absolute value is less than US | ||||||||||||||||||||||||
| JD.com, Inc. | ||||||||||||||||||||
| Supplemental Financial Information and Business Metrics | ||||||||||||||||||||
| (In RMB billions, except turnover days data) | ||||||||||||||||||||
| Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | ||||||||||||||||
| Cash flow and turnover days | ||||||||||||||||||||
| Operating cash flow – trailing twelve months (“TTM”) | 58.4 | 59.5 | 69.8 | 74.0 | 52.8 | |||||||||||||||
| Free cash flow – TTM | 39.4 | 40.7 | 50.6 | 55.6 | 33.6 | |||||||||||||||
| Inventory turnover days(5) – TTM | 30.8 | 30.3 | 29.0 | 29.8 | 30.4 | |||||||||||||||
| Accounts payable turnover days(6) – TTM | 52.6 | 53.2 | 51.8 | 57.0 | 57.5 | |||||||||||||||
| Accounts receivable turnover days(7) – TTM | 5.4 | 5.6 | 5.4 | 5.7 | 5.8 | |||||||||||||||
| (5) TTM inventory turnover days are the quotient of average inventory over the immediately preceding five quarters, up to and including the last quarter of the period, to cost of revenues of retail business for the last twelve months, and then multiplied by 360 days. (6) TTM accounts payable turnover days are the quotient of average accounts payable for retail business over the immediately preceding five quarters, up to and including the last quarter of the period, to cost of revenues of retail business for the last twelve months, and then multiplied by 360 days. (7) TTM accounts receivable turnover days are the quotient of average accounts receivable over the immediately preceding five quarters, up to and including the last quarter of the period, to total net revenues for the last twelve months and then multiplied by 360 days. Presented are the accounts receivable turnover days excluding the impact from consumer financing receivables. | ||||||||||||||||||||
| JD.com, Inc. | ||||||||||||||||||||||||
| Unaudited Reconciliation of GAAP and Non-GAAP Results | ||||||||||||||||||||||||
| (In millions, except percentage data) | ||||||||||||||||||||||||
| For the three months ended | For the nine months ended | |||||||||||||||||||||||
| September 30, 2023 | September 30, 2024 | September 30, 2024 | September 30, 2023 | September 30, 2024 | September 30, 2024 | |||||||||||||||||||
| RMB | RMB | US$ | RMB | RMB | US$ | |||||||||||||||||||
| Income from operations | 9,303 | 12,044 | 1,717 | 24,000 | 30,245 | 4,310 | ||||||||||||||||||
| Add: Share-based compensation | 1,373 | 778 | 110 | 3,824 | 2,203 | 314 | ||||||||||||||||||
| Add: Amortization of intangible assets resulting from assets and business acquisitions | 309 | 144 | 21 | 972 | 769 | 110 | ||||||||||||||||||
| Add: Effects of business cooperation arrangements | 112 | 113 | 16 | 333 | 337 | 48 | ||||||||||||||||||
| Reversal of: Gain on sale of development properties | — | — | — | (1,481 | ) | — | — | |||||||||||||||||
| Non-GAAP income from operations | 11,097 | 13,079 | 1,864 | 27,648 | 33,554 | 4,782 | ||||||||||||||||||
| Add: Depreciation and other amortization | 1,792 | 1,998 | 284 | 5,143 | 5,840 | 832 | ||||||||||||||||||
| Non-GAAP EBITDA | 12,889 | 15,077 | 2,148 | 32,791 | 39,394 | 5,614 | ||||||||||||||||||
| Total net revenues | 247,698 | 260,387 | 37,105 | 778,585 | 811,833 | 115,685 | ||||||||||||||||||
| Non-GAAP operating margin | 4.5 | % | 5.0 | % | 3.6 | % | 4.1 | % | ||||||||||||||||
| Non-GAAP EBITDA margin | 5.2 | % | 5.8 | % | 4.2 | % | 4.9 | % | ||||||||||||||||
| JD.com, Inc. | ||||||||||||||||||||||||
| Unaudited Reconciliation of GAAP and Non-GAAP Results | ||||||||||||||||||||||||
| (In millions, except percentage data) | ||||||||||||||||||||||||
| For the three months ended | For the nine months ended | |||||||||||||||||||||||
| September 30, 2023 | September 30, 2024 | September 30, 2024 | September 30, 2023 | September 30, 2024 | September 30, 2024 | |||||||||||||||||||
| RMB | RMB | US$ | RMB | RMB | US$ | |||||||||||||||||||
| Net income attributable to the Company's ordinary shareholders | 7,936 | 11,731 | 1,671 | 20,778 | 31,505 | 4,490 | ||||||||||||||||||
| Add: Share-based compensation | 1,078 | 639 | 91 | 3,073 | 1,780 | 254 | ||||||||||||||||||
| Add: Amortization of intangible assets resulting from assets and business acquisitions | 144 | 48 | 7 | 525 | 342 | 49 | ||||||||||||||||||
| Add: Reconciling items on the share of equity method investments(8) | 301 | 83 | 12 | 1,002 | 664 | 95 | ||||||||||||||||||
| Add: Impairment of goodwill, long-lived assets, and investments | 384 | 1,036 | 148 | 1,772 | 2,696 | 384 | ||||||||||||||||||
| Add/(Reversal of): Loss/(Gain) from fair value change of long-term investments | 783 | (360 | ) | (51 | ) | 395 | (472 | ) | (67 | ) | ||||||||||||||
| Reversal of: Gain on sale of development properties | — | — | — | (1,120 | ) | — | — | |||||||||||||||||
| Reversal of: Gain on disposals/deemed disposals of investments and others | (5 | ) | (49 | ) | (7 | ) | (55 | ) | (279 | ) | (40 | ) | ||||||||||||
| Add: Effects of business cooperation arrangements and non-compete agreements | 112 | 113 | 16 | 333 | 337 | 48 | ||||||||||||||||||
| Add/(Reversal of): Tax effects on non-GAAP adjustments | (96 | ) | (67 | ) | (10 | ) | 82 | (40 | ) | (6 | ) | |||||||||||||
| Non-GAAP net income attributable to the Company's ordinary shareholders | 10,637 | 13,174 | 1,877 | 26,785 | 36,533 | 5,207 | ||||||||||||||||||
| Total net revenues | 247,698 | 260,387 | 37,105 | 778,585 | 811,833 | 115,685 | ||||||||||||||||||
| Non-GAAP net margin attributable to the Company's ordinary shareholders | 4.3 | % | 5.1 | % | 3.4 | % | 4.5 | % | ||||||||||||||||
| (8) To exclude the GAAP to non-GAAP reconciling items on the share of equity method investments and share of amortization of intangibles not on their books. | ||||||||||||||||||||||||
_________________________________
1 The U.S. dollar (US$) amounts disclosed in this announcement, except for those transaction amounts that were actually settled in U.S. dollars, are presented solely for the convenience of the readers. The conversion of Renminbi (RMB) into US$ in this announcement is based on the exchange rate set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System as of September 30, 2024, which was RMB7.0176 to US
2 See the sections entitled “Non-GAAP Measures” and “Unaudited Reconciliation of GAAP and Non-GAAP Results” for more information about the non-GAAP measures referred to in this announcement.
3 The number of ordinary shares outstanding as of June 30, 2024 was approximately 2,928 million shares.
4 The number of ordinary shares outstanding as of December 31, 2023 was approximately 3,138 million shares.
FAQ
What was JD.com's revenue growth in Q3 2024?
How much did JD.com's operating income increase in Q3 2024?
What is JD.com's new share repurchase program amount and duration?
What was JD.com's operating margin in Q3 2024?
