Welcome to our dedicated page for JD.com news (Ticker: JD), a resource for investors and traders seeking the latest updates and insights on JD.com stock.
JD.com, Inc. (JD), also known as Jingdong and internationally as Joybuy, is a major Chinese e-commerce company headquartered in Beijing. Formerly known as 360buy, JD.com is recognized for its vast selection of authentic products, speedy, and reliable delivery services. The company's 2022 China GMV is comparable to Pinduoduo but remains lower than Alibaba, according to estimates.
JD.com has developed a robust nationwide fulfillment infrastructure and last-mile delivery network that employs its own staff. This infrastructure supports the company's online direct sales, online marketplace, and omnichannel businesses. By maintaining control over its logistics, JD.com ensures a high level of service quality and efficiency.
The company continually strives to enhance its business operations and financial performance. For the first quarter of 2024, JD.com reported an increase in income from operations by 19.8% to RMB7.7 billion (US$1.1 billion) from RMB6.4 billion for the same period in 2023. The operating margin improved to 3.0% from 2.6% over the same periods. Non-GAAP income from operations also saw an increase, rising 12.7% to RMB8.9 billion (US$1.2 billion) from RMB7.9 billion.
JD.com continues to innovate and expand its services. Notable recent endeavors include the adoption of the 2023 Share Incentive Plan and a comprehensive focus on Environment, Social, and Governance (ESG) practices. Additionally, JD.com has announced a share repurchase program and is committed to returning value to its shareholders.
The company regularly updates its stakeholders through conference calls and webcasts available on its investor relations website. Stakeholders can access supplemental information, business highlights, and detailed financial results through these platforms.
Naspers Limited announced that Tencent declared a special interim dividend in the form of a distribution of JD.com shares. Prosus N.V., majority-owned by Naspers, received 131,873,028 JD.com shares, amounting to a 4% interest. Following the distribution, Prosus executed an orderly market disposal of these shares, concluding on June 24, 2022, generating proceeds of approximately US$3.67 billion. The carrying value of the JD.com shares, as of March 31, 2022, was around US$3.94 billion, with zero profit after tax for the fiscal year ending on that date.
On December 23, 2021, Tencent Holdings announced a special interim dividend in the form of Class A shares of JD.com, resulting in Prosus receiving approximately 131.87 million JD.com shares, an effective interest of 4%. The orderly disposal of these shares concluded on June 24, 2022, generating about US$3.67 billion in proceeds, which will support general corporate purposes. As of March 31, 2022, the carrying value of these shares was approximately US$3.94 billion, with no profit attributed for the fiscal year ending March 31, 2022.
JD.com has launched its annual 618 Grand Promotion, running from May 23 to June 20, 2022. The event, now China’s largest mid-year shopping festival, offers significant benefits for US merchants through its partnership with Shopify. JD will waive deposit and platform fees while providing marketing support such as exclusive traffic and promotional activities. The initiative aims to help US brands reach JD's 580 million Chinese customers. Notably, ColourPop reported a 550% month-on-month sales growth since joining this platform, underscoring the promotion's potential.
JD.com announced its annual general meeting of shareholders (AGM) scheduled for June 21, 2022, in Beijing. The AGM will not include proposals for shareholder approval but will provide a platform for discussions between management and shareholders. Shareholders of record as of May 19, 2022, are entitled to attend. Additionally, JD.com has filed its annual report on Form 20-F with the SEC, featuring audited financial statements for the fiscal year ending December 31, 2021, accessible via its investor relations website.
JD.com has launched its Green Impact Initiative to promote sustainable consumption through green-labeled products. Starting from the 618 Grand Promotion on May 31, 2022, one million products will be available, making it easier for consumers to choose environmentally friendly options. Customers will earn green credits through purchases, redeemable for rewards. The initiative also includes reusable delivery boxes. JD aims to cut carbon emissions by 50% by 2030 and has previously saved over 2 billion carton boxes annually through its Green Stream Initiative.
JD.com reported unaudited financial results for Q1 2022, highlighting a 18.0% increase in net revenues, reaching RMB239.7 billion (US$37.8 billion). Net service revenues surged 26.3% to RMB35.2 billion (US$5.6 billion). Operating income saw a 41.2% increase to RMB2.4 billion (US$0.4 billion). However, the company recorded a net loss of RMB3.0 billion (US$0.5 billion) compared to a net income of RMB3.6 billion in Q1 2021. Active customer accounts rose 16.2% to 580.5 million, despite challenges posed by the external environment.
JD.com has been identified under the Holding Foreign Companies Accountable Act by the SEC as a Commission-Identified Issuer due to audit inspection issues. The SEC's identification follows JD.com's filing of its annual report for the fiscal year ended December 31, 2021. This identification indicates that JD.com used an auditor whose working papers cannot be inspected by the PCAOB. While this poses a risk, the company is actively seeking solutions to maintain its listing on Nasdaq and the Hong Kong Stock Exchange.
JD.com has declared a special cash dividend of US$0.63 per ordinary share, totaling approximately US$2.0 billion, with a payment date expected around June 8, 2022. Shareholders must register their shares by May 20, 2022 to qualify. The board's decision reflects confidence in JD.com's long-term growth and robust financial position. This move aims to return capital effectively to shareholders while maintaining operational flexibility for future growth initiatives.
JD.com, Inc. plans to release its unaudited first quarter 2022 financial results on May 17, 2022, before the U.S. market opens. The management will host a conference call at 8:00 am ET on the same day to discuss these results. Investors can register in advance using a provided link and join the call 10 minutes prior. A replay will be available from May 17 until May 24, 2022. JD.com continues to position itself as a leading supply chain-based technology provider, enhancing its retail infrastructure and services.
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