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:
- 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.
- Operating margin of JD Mall was 2.1%, as compared to 2.2% for the same period last year.
- 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.
- 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.
- 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
- 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.
- 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
- 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.