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China’s leading e-commerce company JD.com released first quarter 2018 results

Chinese leading e-commerce company and retail infrastructure service provider JD.com (also known as Jingdong) released its unaudited financial results for the first quarter of 2018 today.

Here are the highlights:

  1. Net revenues at RMB100.1 billion (S$21.09bil) were up 33.1% from the first quarter of 2017. Net service revenues for the first quarter of 2018 were RMB8.6 billion, a 60.0% increase from the first quarter of 2017.
  2. Operating margin of JD Mall was 2.1%, as compared to 2.2% for the same period last year.
  3. Net income from continuing operations attributable to ordinary shareholders for the first quarter of 2018 was RMB1,524.9 million, compared to RMB298.8 million for the same period last year. Non-GAAP net income from continuing operations attributable to ordinary shareholders for the first quarter of 2018 was RMB1,047.4 million, compared to RMB1,321.9 million for the same period last year.
  4. Diluted net income per ADS from continuing operations for the first quarter of 2018 was RMB1.04, compared to RMB0.21 for the first quarter of 2017. Non-GAAP diluted net income per ADS from continuing operations for the first quarter of 2018 was RMB0.71, compared to RMB0.92 for the same quarter last year.
  5. Annual active customer accounts increased by 27.6% to 301.8 million in the twelve months ended March 31, 2018 from 236.5 million in the twelve months ended March 31, 2017.

Recent Business Developments

  1. World famous watch brands TAG Heuer, SEIKO and MIDO launched “real-time purchases” on JD’s platform in parallel with the Baselworld Watch and Jewelry Show, enabling consumers to purchase their latest models online during the show.
  2. In March, Italian customized men’s wear brand CANALI and British luxury brand Mulberry joined JD.com’s independent online luxury fashion platform TOPLIFE, which brings high-end fashion and luxury items from around the globe directly to Chinese consumers, providing a curated, premium online shopping experience
  3. JD Logistics launched a new premium logistics service with China Railway Corporation, leveraging domestic high-speed trains for secure, long-distance transportation of high-end goods and JD’s Luxury Express, a premium delivery service for luxury products, for last mile delivery. This allows customers to enjoy same-day delivery for high-end goods originating from non-local warehouses.
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