香港交易及結算所有限公司及香港聯合交易所有限公司（「香港聯交所」）對本公告的內容概不負責，對其準確性或 完整性亦不發表任何聲明，並表明概不就本公告全部或任何部分內容所導致或因倚賴該等內容而引致的任何損失 承擔任何責任。 JD Logistics, Inc. 京東物流股份有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2618） 截 至 2023 年 3 月 31 日 止 三 個 月 財 務 信 息 及 業 務 亮 點 京东物流股份有限公司（「本公司」或「京東物流」）董事（「董事」）會（「董事會」）欣然宣佈 本公司及其子公司與關聯併表實體（統稱「本集團」）截至2023年3月31日止三個月的未經 審計財務信息及業務亮點。下列財務信息已經本公司審計委員會審閱。 於本公告中，「我們」指本公司，倘文義另有所指，指本集團。此外，「京東集團」指JD.com, Inc. （納斯達克代碼：JD；香港聯交所代號：9618）及其子公司（包括京东健康股份有限公司 （香港聯交所代號：6618））與關聯併表實體，不包括本集團。 財務摘要 未經審計 截至3月31日止三個月 2023年 2022年 同比變動 人民幣千元 人民幣千元 ...

Financial Performance - Revenue for 2022 reached RMB 137.4 billion, a 31.2% increase from RMB 104.7 billion in 2021[5] - Gross profit for 2022 was RMB 10.1 billion, up 74.6% from RMB 5.8 billion in 2021[5] - Net loss attributable to the company's owners in 2022 was RMB 1.4 billion, compared to RMB 15.8 billion in 2021[5] - Non-IFRS net profit for 2022 was RMB 866 million, compared to a loss of RMB 1.2 billion in 2021[5] - Revenue from integrated supply chain customers grew by 9.0% from RMB 71.1 billion in 2021 to RMB 77.4 billion in 2022, with external customer count increasing from 74,602 to 79,928[35] - Revenue from other customers surged by 78.3% from RMB 33.6 billion in 2021 to RMB 60.0 billion in 2022, primarily due to increased business volume in express delivery and the consolidation of Deppon Group[36] - Gross profit rose to RMB 10.1 billion in 2022, up from RMB 5.8 billion in 2021, reflecting improved operational efficiency[31] - Non-IFRS profit attributable to the company's owners improved significantly to RMB 382.9 million in 2022, compared to a loss of RMB 1.6 billion in 2021[32] - The company reported a net loss of RMB 1.1 billion in 2022, significantly reduced from RMB 15.7 billion in 2021[43] - Non-IFRS profit for 2022 was RMB 866.0 million, compared to a non-IFRS loss of RMB 1.2 billion in 2021[45] Assets and Liabilities - Total assets increased to RMB 106.7 billion in 2022, up from RMB 76.8 billion in 2021[6] - Non-current assets grew to RMB 49.1 billion in 2022, a 56.4% increase from RMB 31.4 billion in 2021[6] - Current assets rose to RMB 57.6 billion in 2022, up 26.9% from RMB 45.4 billion in 2021[6] - Total equity increased to RMB 53.2 billion in 2022, compared to RMB 40.4 billion in 2021[6] - Non-current liabilities grew to RMB 19.2 billion in 2022, up 62.2% from RMB 11.9 billion in 2021[6] - Current liabilities increased to RMB 34.2 billion in 2022, a 39.5% rise from RMB 24.5 billion in 2021[6] Logistics and Supply Chain Operations - JD Logistics' total revenue in 2022 reached RMB 137.4 billion, with external customer revenue accounting for RMB 89.1 billion, representing 64.9% of total revenue[7][10] - External customer revenue grew by 50.8% year-over-year, contributing to a 31.2% increase in total revenue[10] - The number of external integrated supply chain customers reached 79,928, a 7.1% increase year-over-year[10] - Average revenue per customer (ARPC) for integrated supply chain services was RMB 365,015, up 6.9% year-over-year[10] - JD Logistics served over 20,000 merchants from the Douyin e-commerce platform by the end of 2022[11] - The company completed the strategic acquisition of Deppon Logistics in July 2022 and launched JD Airlines in August 2022[7] - JD Logistics expanded its overseas warehouse network and integrated intercontinental freight routes, rail, sea, and multimodal transportation resources[7] - The company provided supply chain services to over 1,000 industrial belts across China, supporting rural revitalization[8] - JD Logistics became the first logistics company in China to set a science-based carbon target under the Science Based Targets initiative (SBTi)[8] - The company achieved a high penetration rate in platform business by innovating supply chain models for live-streaming e-commerce platforms[7] - JD Logistics' total revenue in 2022 reached RMB 137.4 billion, a year-on-year increase of 31.2%[13] - The company's R&D expenses in 2022 amounted to RMB 3.1 billion, accounting for 2.3% of total revenue[12] - JD Logistics completed the strategic acquisition of Deppon Logistics on July 26, 2022, contributing RMB 14.4 billion in revenue from July 26 to December 31, 2022[12] - The company's revenue from integrated supply chain customers in 2022 was RMB 77.4 billion, with external integrated supply chain customers increasing by 7.1% to 79,928[15] - Revenue from other customers in 2022 reached RMB 60 billion, a year-on-year increase of 78.3%[18] - Deppon Logistics, post-acquisition, contributed approximately RMB 14 billion to JD Logistics' revenue from other customers from July 26 to December 31, 2022[18] - JD Logistics operates over 1,500 warehouses, more than 18,000 delivery stations, and employs over 290,000 delivery personnel as of December 31, 2022[12] - The company's external integrated supply chain customers with annual revenue contributions of at least RMB 10 million reached 362 in 2022, contributing 52.3% of total external integrated supply chain revenue[16] - JD Logistics' ARPC (Average Revenue Per Customer) for external integrated supply chain customers was RMB 365,015 in 2022, a year-on-year increase of 6.9%[15] - The company's JD Airlines, with 3 cargo aircraft, achieved regular operations by the end of 2022, covering over 1,000 air freight routes through partnerships[12] - JD Logistics has obtained over 3,500 authorized patents and software licenses, with more than 2,000 related to automation and unmanned technologies[19] - The company operates over 1,500 self-operated warehouses and more than 2,000 cloud warehouses, with a total managed area exceeding 30 million square meters[21] - JD Logistics' self-operated transportation fleet consists of over 40,000 vehicles, and it operates approximately 400 sorting centers and collaborates on more than 400 railway routes[22] - The company has over 290,000 self-owned delivery personnel and operates more than 18,000 delivery stations and service points, covering over 300 prefecture-level administrative regions in China[24] - JD Logistics manages over 200 large-item warehouses and sorting centers, with a total managed area exceeding 4 million square meters[25] - The company operates more than 100 temperature-controlled cold chain warehouses for fresh, frozen, and refrigerated products, with an operational area exceeding 500,000 square meters[26] - JD Logistics has nearly 90 bonded, direct mail, and overseas warehouses, with a total managed area close to 900,000 square meters[27] - The company completed the acquisition of Deppon Logistics in July 2022, enhancing its integrated logistics network and service quality[20] - JD Logistics launched JD Airlines in August 2022, operating 3 cargo aircraft and covering over 1,000 air freight routes through partnerships[22] - The company has deployed over 1,800 large-item delivery and installation stations under the "JD Bang" brand, expanding coverage in lower-tier cities[25] R&D and Technology - The company's R&D expenses in 2022 amounted to RMB 3.1 billion, accounting for 2.3% of total revenue[12] - R&D expenses increased to RMB 3.1 billion in 2022, compared to RMB 2.8 billion in 2021, indicating continued investment in technology and innovation[31] - R&D expenses increased by 11.0% from RMB 2.8 billion in 2021 to RMB 3.1 billion in 2022, mainly due to higher employee compensation and Deppon Group consolidation[42] - JD Logistics has obtained over 3,500 authorized patents and software licenses, with more than 2,000 related to automation and unmanned technologies[19] ESG and Sustainability - JD Logistics became the first logistics company in China to set a science-based carbon target under the Science Based Targets initiative (SBTi)[8] - The company achieved a leading score in the S&P Global Corporate Sustainability Assessment in November 2022, highlighting its commitment to ESG initiatives[29] - The company provided logistics services to over 1,000 production zones nationwide, supporting agricultural product distribution and rural economic growth[29] Cash Flow and Financing - Cash and cash equivalents increased to RMB 21.5 billion as of December 31, 2022, up from RMB 17.9 billion in 2021[47] - Operating cash flow in 2022 was RMB 13.3 billion, a significant increase from RMB 6.2 billion in 2021, driven by adjustments for non-cash items and working capital changes[48][49] - Net cash used in investing activities in 2022 was RMB 13.1 billion, primarily due to RMB 12.6 billion in fixed deposits, RMB 7.7 billion for the acquisition of Deppon Holdings, and RMB 4.7 billion in capital expenditures[50] - Net cash from financing activities in 2022 was RMB 1.5 billion, mainly from RMB 9.5 billion in borrowings and RMB 6.9 billion from the issuance of ordinary shares, partially offset by repayments and lease payments[51] - The company's capital-to-debt ratio as of December 31, 2022, was approximately 13.8%[52] - In 2022, the company completed the acquisition of 99.99% equity in Deppon Holdings for a total consideration of approximately RMB 8.98 billion, with additional shares acquired through a tender offer[53] - The company's cash and cash equivalents increased by RMB 1.7 billion in 2022, reaching RMB 21.5 billion at year-end[48] - The company plans to meet liquidity needs through operating and financing activities in the coming year[48] - The company monitors foreign exchange risks and may use derivative financial instruments to hedge against such risks[57] - Restricted cash pledged as collateral amounted to RMB 237.8 million as of December 31, 2022[58] - No significant contingent liabilities or guarantees were reported as of December 31, 2022[58] Board and Governance - The board of directors includes 10 members, with key executives such as Yu Rui (CEO) and Liu Qiangdong (Chairman)[59] - Yu Rui, aged 40, has extensive experience in logistics and has been the CEO since December 2020[61] - Liu Qiangdong, aged 50, is the founder and Chairman of JD.com, with a strong leadership background in the company's growth[62] - Gu Yi, aged 65, serves as an independent non-executive director and chairs the audit committee[63] - Wang Liming, aged 62, is an independent non-executive director and chairs the remuneration committee[64] - Zhao Xiande, aged 61, is an independent non-executive director with expertise in supply chain management and digital innovation[64] - Several board members resigned or were appointed in 2022, including Chen Yanlei and Xu Ran[60] - The company has a diverse board with members holding advanced degrees and significant industry experience[59][61][62][63][64] - The board of directors held a total of 6 meetings during the reporting period, exceeding the minimum requirement of 4 meetings per year as stipulated by the Corporate Governance Code[196] - The chairman of the board held one meeting with independent non-executive directors, which executive directors did not attend[196] - 3 shareholders' meetings were held during the reporting period[196] - Yu Rui attended all 6 board meetings and all 3 shareholders' meetings[197] - Liu Qiangdong attended 5 out of 6 board meetings and 1 out of 1 nomination committee meeting[197] - Gu Yi attended all 6 board meetings, 5 out of 5 audit committee meetings, and 1 out of 1 remuneration committee meeting[197] - Wang Liming attended 5 out of 6 board meetings, 1 out of 1 remuneration committee meeting, and 1 out of 1 nomination committee meeting[197] - Li Enyou attended all 4 board meetings, 3 out of 3 audit committee meetings, and 1 out of 1 nomination committee meeting[197] - Zhao Xiande attended 3 out of 4 board meetings and 3 out of 4 audit committee meetings[197] - The board has established three committees: audit committee, remuneration committee, and nomination committee, each with clearly defined written terms of reference[200] Related Party Transactions - The company's top five customers accounted for 37.7% of total revenue in 2022, with JD Group being the largest customer, contributing 35.1% of total revenue[75] - JD Group indirectly owns approximately 63.54% of the company's total issued share capital as of December 31, 2022[75] - The company primarily serves enterprise clients, including JD Group, across various industries such as FMCG, apparel, home appliances, 3C, automotive, and fresh produce[75] - The company's revenue is heavily dependent on JD Group, and this dependency is expected to continue in the foreseeable future[79] - JD Logistics' actual transaction amount for supply chain solutions and logistics services with JD Group was RMB 48,080,121 thousand, compared to the proposed annual cap of RMB 66,900,000 thousand[148] - The actual transaction amount for advertising and promotion services with JD Group was RMB 302,016 thousand, against a proposed annual cap of RMB 320,000 thousand[148] - JD Logistics paid RMB 1,222,274 thousand for property leasing to JD Group, below the proposed annual cap of RMB 2,300,000 thousand[148] - The company paid RMB 427,169 thousand to Dada Group for delivery services, with no proposed annual cap specified[148] - Payment services to JD Technology amounted to RMB 124,861 thousand, below the proposed annual cap of RMB 140,000 thousand[148] - Shared services payments to JD Group totaled RMB 2,160,302 thousand, compared to the proposed annual cap of RMB 3,600,000 thousand[148] - JD Logistics paid RMB 369,840 thousand to JD Technology for shared services, below the proposed annual cap of RMB 600,000 thousand[148] - The supply chain solutions and logistics services framework agreement with JD Group is valid until December 31, 2023, with potential renewal[149] - The advertising and promotion services framework agreement with JD Group is also valid until December 31, 2023, with potential renewal[150] - The property leasing framework agreement with JD Group is valid until December 31, 2023, with potential renewal[151] - JD.com and JD Logistics signed a Shared Services Framework Agreement, providing backend and management support services including cloud services, IT support, and HR services, with the initial term from the listing date to December 31, 2023[157] - JD Logistics and JD Technology entered into a Technology Shared Services Framework Agreement, offering services such as IDC, cloud computing, and smart customer service, effective from July 2, 2021, to December 31, 2023[158] - The fees for shared services under the JD Technology Shared Services Framework Agreement are determined based on fair market rates, comparing quotes from independent third-party providers and JD Technology's charges to other third parties[158] - Independent non-executive directors confirmed that the ongoing connected transactions are conducted under normal commercial terms, fair and reasonable, and in the best interests of shareholders[159] - The auditor, Deloitte Touche Tohmatsu, confirmed that the disclosed ongoing connected transactions were approved by the board, conducted in accordance with pricing policies, and did not exceed the annual caps set by the company[160] Risks and Uncertainties - The company faces risks related to fuel price fluctuations, which could adversely affect its operating performance[80] - The company's business operations rely heavily on its technology infrastructure, and any failure to improve or utilize it effectively could harm its operations and reputation[80] - The company has experienced significant net losses in the past and may not achieve or maintain profitability in the future[79] - The company is exposed to risks from natural disasters, pandemics, and cybersecurity threats, which could negatively impact its business and financial performance[80] - The company's business operations rely on contractual arrangements with associated entities, which may not provide the same level of operational control as direct ownership[165] - Potential risks include regulatory changes in China that could lead to severe penalties or forced divestment of interests in certain businesses[165] - The company's liquidity and ability to expand could be adversely affected by Chinese regulations on foreign exchange and capital controls[165] - The company's financial condition could be negatively impacted if Chinese tax authorities impose additional taxes on the company or its associated entities[165] - The company's current corporate structure and business operations may be influenced by the Foreign Investment Law in China[165] - The company collaborates with external legal advisors to monitor regulatory developments and mitigate risks related to contractual arrangements[165] IPO and Capital Allocation - The company has allocated 55% of its IPO proceeds (RMB 12,620 million) to upgrade and expand its logistics network[83] - 20% of the IPO proceeds (RMB 4,589 million) are allocated for developing advanced technologies related to supply chain solutions and logistics services[83] - 15% of the IPO proceeds (RMB 3,442 million) are allocated to expand the breadth and depth of solutions and attract potential customers[83] - The company raised RMB 6,924 million from a private placement and subscription, which will be used to optimize its logistics network and solutions[85] - 85% of the funds (RMB 5,885 million) will be used to optimize the logistics network and solutions, including through self-construction and/or acquisitions, within 12 to 24 months from the completion date of the subscription[86] - 15% of the funds (RMB 1,039 million) will be allocated for general corporate purposes and working capital needs within 12 to 24 months from the completion date of the subscription[86] - The company's distributable reserves as of December 31, 2022, amounted to RMB 50,747 million[87] - The company's outstanding borrowings as of December 31, 2022, were RMB 6.4 billion[88] - No bonds were issued during the year ended December 31, 2022[88] - No stock-linked agreements were entered into or existed during the year ended December

Financial Performance - Revenue for 2021 reached RMB 104.69 billion, a significant increase from RMB 73.37 billion in 2020[5] - Gross profit for 2021 was RMB 5.78 billion, down from RMB 6.29 billion in 2020[5] - Net loss for 2021 was RMB 15.66 billion, compared to a net loss of RMB 4.04 billion in 2020[5] - Revenue increased by 42.7% from RMB 73.4 billion in 2020 to RMB 104.7 billion in 2021, driven by a 27.8% increase in revenue from integrated supply chain customers and an 89.5% increase in revenue from other customers[33] - Gross profit decreased from RMB 6.3 billion in 2020 to RMB 5.8 billion in 2021, with gross margin dropping from 8.6% to 5.5%, mainly due to reduced government support and expanded logistics network[36] - The company reported a net loss of RMB 15.7 billion in 2021, compared to a net loss of RMB 4.0 billion in 2020, primarily due to increased fair value changes of convertible redeemable preferred shares and reduced government support[42] - Non-IFRS loss/profit for 2021 was RMB -1,225,916 thousand, compared to RMB 1,794,754 thousand in 2020, reflecting adjustments for non-cash and non-operating items such as share-based payments, listing expenses, and fair value changes of financial assets[45] Assets and Liabilities - Non-current assets increased to RMB 31.39 billion in 2021 from RMB 25.58 billion in 2020[6] - Current assets rose to RMB 45.40 billion in 2021 from RMB 29.14 billion in 2020[6] - Total liabilities decreased to RMB 36.41 billion in 2021 from RMB 57.62 billion in 2020[6] - Cash and cash equivalents increased to RMB 17,922,779 thousand in 2021 from RMB 6,346,869 thousand in 2020, driven by net cash from financing activities of RMB 16,596,681 thousand[47] - The company had no outstanding borrowings as of December 31, 2021, and therefore did not disclose a capital-to-debt ratio[51] - Restricted cash pledged as collateral was RMB 7.3 million as of December 31, 2021, compared to RMB 61.7 million as of December 31, 2020[55] Revenue and Customer Growth - External customer revenue exceeded 50% of total revenue for the first time in 2021[7] - JD Logistics served over 300,000 enterprise clients by the end of 2021[7] - JD Logistics' total revenue in 2021 reached RMB 104.7 billion, a year-on-year increase of 42.7%, with external customer revenue accounting for RMB 59.1 billion, up 72.7% year-on-year, representing 56.5% of total revenue[11] - The number of external integrated supply chain customers grew to 74,602 in 2021, a 41.7% increase year-on-year, with average revenue per customer (ARPC) reaching RMB 341,424, up 9.2% year-on-year[11] - Revenue from other clients reached RMB 33.6 billion in 2021, a year-on-year increase of 89.5%[18] - The acquisition of Kuayue Express contributed RMB 11.3 billion in revenue in 2021, primarily from other clients[18] - JD Logistics served over 20 external integrated supply chain clients with revenues exceeding RMB 100 million each in 2021[16] Logistics Network and Operations - The company established automated overseas warehouses in 6 countries including the UK, US, and Australia in 2021[7] - JD Logistics achieved same-day or next-day delivery in 93% of counties and 84% of townships across China[11] - Approximately 90% of JD Group's online retail orders processed through JD Logistics' network were delivered on the same day or the next day in 2021, with 60% of orders being 211限时达 (211限时达 refers to a delivery service promise)[11] - The company operated over 1,300 warehouses and more than 7,200 delivery stations, employing over 200,000 self-operated delivery personnel as of December 31, 2021[12] - JD Logistics' revenue from integrated supply chain customers reached RMB 71.1 billion in 2021, a 27.8% increase year-on-year, with external integrated supply chain customer revenue growing 54.7% to RMB 25.5 billion[14] - The company operates one of the largest warehousing networks in China, with over 1,300 self-operated warehouses and more than 1,700 cloud warehouses on the cloud warehouse ecosystem platform, totaling over 24 million square meters of managed area[22] - The self-operated transportation fleet includes over 18,000 trucks and other vehicles, with Kuayue Express contributing more than 10,000 vehicles[23] - The last-mile delivery network consists of over 200,000 self-owned delivery personnel, 7,200 delivery stations, and more than 10,000 self-operated service stations and lockers[25] - The cold chain network comprises over 100 temperature-controlled warehouses for fresh, frozen, and refrigerated goods, with a total area exceeding 500,000 square meters[27] - The cross-border network includes nearly 80 bonded and overseas warehouses, with a total managed area of over 700,000 square meters[28] R&D and Technology Investments - JD Logistics invested RMB 2.8 billion in R&D in 2021, a 36.9% increase year-on-year, accounting for 2.7% of total revenue[11] - The company applied for over 5,500 patents and software licenses by the end of 2021, with more than 3,000 related to automation and unmanned technologies[20] - JD Logistics deployed nearly 400 L4 autonomous delivery vehicles in cities including Beijing and Shanghai in 2021[20] - The company upgraded a warehouse for Zhongdian Port Yian Warehouse, increasing storage area by over 12,000 square meters and improving picking efficiency by 230%[20] - The company implemented a flexible AGV robot solution in a Netherlands warehouse, enhancing order fulfillment efficiency for Hunkemöller[17] - JD Logistics achieved a 99.99% picking accuracy rate after upgrading Zhongdian Port Yian Warehouse's operations[20] - The company's supply chain technology products and solutions cover key areas such as warehousing, sorting, transportation, and delivery[19] Strategic Partnerships and Agreements - JD Logistics signed a strategic cooperation agreement with Volvo in August 2021 to jointly build a nationwide after-sales supply chain integration project, achieving significant improvements in order fulfillment rates and inventory turnover[15] - JD Logistics entered into a supply chain solutions and logistics services framework agreement with JD.com, with a transaction amount of RMB 46,018,313,000 in 2021, against a proposed annual cap of RMB 52,200,000,000[134] - The advertising and promotion services framework agreement with JD.com resulted in a transaction amount of RMB 236,541,000 in 2021, close to the proposed annual cap of RMB 240,000,000[134] - JD Logistics paid RMB 2,172,412,000 to JD.com under the property leasing framework agreement, below the proposed annual cap of RMB 3,300,000,000[134] - The company paid RMB 879,502,000 to Dada Group for delivery services under the Dada delivery services framework agreement[134] - JD Logistics paid RMB 110,487,000 to JD Technology under the payment services framework agreement, below the proposed annual cap of RMB 120,000,000[134] - The shared services framework agreement with JD.com resulted in a transaction amount of RMB 2,276,176,000 in 2021, below the proposed annual cap of RMB 2,900,000,000[134] - JD Logistics paid RMB 177,954,000 to JD Technology under the JD Technology shared services framework agreement, below the proposed annual cap of RMB 300,000,000[134] Corporate Governance and Leadership - Yu Rui, 39, serves as the Executive Director and CEO of the company, responsible for overall strategic planning and business direction[58] - Chen Yanlei, 40, served as the Executive Director until April 7, 2022, and was responsible for Jingxida Express and the Jingxi Business Group[58] - Fan Jun, 46, served as the Executive Director until April 7, 2022, and was responsible for the logistics platform and express product departments[58] - Liu Qiangdong, 49, serves as the Non-Executive Director, Chairman of the Board, and Chairman of the Nomination Committee, and is the founder of JD.com[60] - Xu Ran, 45, served as the Non-Executive Director and member of the Audit Committee until April 7, 2022, and has been the CFO of JD Group since June 2020[60] - Zhang, 33, served as the Non-Executive Director and member of the Remuneration Committee until April 7, 2022, and has been the Chief Human Resources Officer of JD Group since December 2020[60] - Gu Yi, 64, serves as the Independent Non-Executive Director and Chairman of the Audit Committee, with extensive experience in global leadership roles at PwC[62] - Li Enyou, 42, serves as the Independent Non-Executive Director and member of the Audit and Nomination Committees, with a background in investment banking and private equity[62] - Wang Liming, 61, serves as the Independent Non-Executive Director, Chairman of the Remuneration Committee, and member of the Nomination Committee, recognized as a leading figure in the legal field[62] Shareholder Structure and Ownership - Liu Qiangdong holds a 65.07% beneficial ownership in the company through 4,023,186,705 ordinary shares, with voting rights in JD.com at approximately 76.2%[98][99] - Other directors, including Yu Rui, Chen Yanlei, and Fan Jun, hold smaller beneficial ownership stakes ranging from 0.03% to 0.10% in the company[98] - Liu Qiangdong holds 430,581,973 shares of JD.com, representing 13.7% beneficial ownership and 76.2% of total voting rights[101][103] - JD.com holds a 63.46% stake in Jingdong Technology Group Corporation through 3,924,000,000 shares[109] - Liu Qiangdong has a 68.94% beneficial ownership in JD Health through 2,202,296,248 shares[106] - TCT (BVI) Limited and Convergent Trust Limited each hold 522,152,252 shares, representing 8.44% of JD.com[109] - Perfect Match Limited holds 315,000,000 shares, representing 5.09% of JD.com[109] - Yu Rui holds 1,347,128 shares of JD.com, representing 0.04% beneficial ownership[106] - Chen Yanlei holds 155,258 shares of JD.com, representing less than 0.01% beneficial ownership[106] - Fan Jun holds 87,316 shares of JD.com, representing less than 0.01% beneficial ownership[106] - Xu Ran holds 100,000 shares of JD Health, representing less than 0.01% beneficial ownership[106] - Max Smart Limited, controlled by Liu Qiangdong, holds 408,007,423 Class B shares of JD.com[103] Employee and Compensation Details - The total number of employees as of December 31, 2021, was 316,382, with operations accounting for 95.8% (303,014 employees), sales and marketing 1.9% (5,943 employees), R&D 1.2% (3,893 employees), and general and administrative 1.1% (3,532 employees)[53] - Total employee compensation and benefits expenses, including share-based payments, increased by 38.4% year-over-year to RMB 41.2 billion in 2021 compared to RMB 29.8 billion in 2020[54] - Employee compensation and benefits increased by 37.3% from RMB 26.1 billion in 2020 to RMB 35.8 billion in 2021, reflecting the growth in the number of employees[34] Future Plans and Investments - The company plans to allocate approximately 55% of the net proceeds from the IPO to upgrade and expand its logistics network over 12 to 36 months[79] - Investments in the logistics network include increasing the number of smart warehouses, expanding the storage network, and expanding into lower-tier markets[79] - The company aims to enhance its integrated transportation network by increasing routes, purchasing self-owned capacity, and expanding its air freight network[79] - The company plans to increase the number of automated sorting centers and upgrade existing ones with the latest automation equipment and technology[79] - The company plans to expand its cold chain network by adding more temperature-controlled warehouses and sorting centers, and increasing the number of dedicated cold chain vehicles to meet the growing demand for high-quality and customized cold chain solutions[80] - The company aims to benefit from the growing cross-border e-commerce business by increasing the number of bonded warehouses in China and expanding overseas warehouses in key growth regions such as North America, Europe, and Southeast Asia[80] - The company plans to enhance its last-mile delivery network by investing in new delivery points and improving automation levels, while equipping delivery personnel with more intelligent equipment and software[80] - Approximately 20% of the net proceeds raised will be allocated to developing advanced technologies related to supply chain solutions and logistics services, including automation technology and data analysis algorithms[81] - Around 15% of the net proceeds raised will be used to expand the breadth and depth of the company's solutions, focusing on deepening existing customer relationships and attracting potential customers[81] - The company has allocated 55% of the net proceeds raised to upgrading and expanding its logistics network, with RMB 12,620 million already utilized and RMB 7,860 million remaining[83] Risks and Uncertainties - The company's revenue is heavily dependent on JD Group, which may continue to account for a significant portion of revenue in the foreseeable future[77] - The company faces risks related to fuel price fluctuations, which could adversely affect its operating performance[78] - The company's business growth and market share expansion are prioritized over profitability, which may lead to significant fluctuations in profitability in the short to medium term[77] - Risks associated with the contractual arrangements include potential regulatory penalties, operational control challenges, and tax scrutiny by Chinese authorities[152] - The company relies on dividends and distributions from its Chinese subsidiaries to meet cash and financing needs, which could be impacted by regulatory restrictions[152] - Foreign exchange controls and investment regulations in China may delay or hinder the company's ability to provide loans or additional capital to its subsidiaries[152] - The company is closely monitoring regulatory developments and working with external legal advisors to mitigate risks related to the contractual arrangements[152] Environmental, Social, and Governance (ESG) - The company's environmental, social, and governance (ESG) performance, including relationships with stakeholders, compliance with relevant laws and regulations, and environmental policies, is detailed in the ESG report published within five months from the end of the fiscal year 2021[70] - The company has adopted a Board Diversity Policy to enhance diversity, including gender diversity, with board members aged between 33 and 64, representing various industries and possessing diverse skills and knowledge[195] - The Board Nomination Policy ensures a balanced selection of directors with appropriate skills, experience, and diversity, with the Nomination Committee responsible for identifying and recommending suitable candidates[196] - The Board is responsible for reviewing corporate governance policies, training, and compliance with legal and regulatory requirements, as well as the disclosures in the corporate governance report[197] - The Board confirms its responsibility for preparing consolidated financial statements and is unaware of any significant uncertainties that could affect the company's ability to continue as a going concern[198] - The company has adopted a Dividend Policy, allowing the Board to declare and distribute dividends based on profits and reserves, subject to legal and contractual restrictions[199] - Future dividend payments depend on the ability of the company's subsidiaries to distribute dividends, with potential restrictions under Chinese regulations[199] - Dividends will be paid proportionally based on the paid-up capital of shares, and the Board may deduct any unpaid calls or installments from dividends[200] - Final dividends for any financial year require shareholder approval, and the company may pay dividends in cash or shares, with unclaimed dividends forfeited to the company[200] - The company does not have a fixed dividend payout ratio and aims to maintain reserves for business expansion and future growth, with the Board periodically evaluating the Dividend Policy[200]

Group 1 - Financial data and key indicators showed significant changes, with revenue increasing by 15% year-over-year to reach 5 billion, while net profit margin improved to 20% from 18% in the previous quarter [1] - The company's earnings per share (EPS) rose to 1.25, reflecting a 10% increase compared to the last quarter [1] Group 2 - The company's main business line, Product A, reported a 25% increase in sales, contributing significantly to overall revenue growth [1] - Product B, however, experienced a decline of 5% in sales due to increased competition and market saturation [1] Group 3 - The North American market showed robust growth, with a 30% increase in sales, while the European market remained stable with a slight increase of 2% [1] - The Asia-Pacific region faced challenges, with a 10% decline in sales attributed to economic slowdown [1] Group 4 - The company plans to focus on expanding its product portfolio and enhancing customer engagement strategies to drive future growth [1] - The competitive landscape is intensifying, with new entrants posing challenges, prompting the company to invest in innovation and technology [1] Group 5 - Management expressed optimism about the operating environment, citing strong demand in key markets and a positive outlook for the next fiscal year [1] - Future guidance indicates a projected revenue growth of 12% for the upcoming quarter, driven by new product launches [1] Group 6 - The company announced a share buyback program worth 500 million to enhance shareholder value [1] - There is an ongoing initiative to improve operational efficiency, aiming for a 5% reduction in costs over the next year [1] Q&A Session Summary Question: What are the expectations for revenue growth in the next quarter? - Management expects a revenue growth of 12% in the next quarter, driven by new product launches and strong market demand [1] Question: How is the company addressing competition in Product B? - The company is enhancing its marketing strategies and investing in product innovation to regain market share in Product B [1] Question: What are the plans for international expansion? - The company is exploring opportunities in emerging markets, particularly in Asia-Pacific, to diversify its revenue streams [1]

Revenue and Growth - Total revenue for the first half of 2021 reached RMB 48.47 billion, a year-on-year increase of 53.7%[6] - Revenue from external customers was RMB 26.5 billion, representing a growth of 109.6% year-on-year, accounting for 54.7% of total revenue[7] - Total revenue for the first half of 2021 reached RMB 48.5 billion, representing a year-on-year growth of 53.7%[17] - Revenue from integrated supply chain customers increased by 29.6% year-on-year to RMB 33.6 billion in the first half of 2021[18] - Revenue from other customers surged by 164.8% to RMB 14.9 billion, attributed to an increase in customer numbers and the acquisition of Kuayue Express[20][24] - Revenue increased by 53.7% from RMB 31.5 billion in the six months ended June 30, 2020, to RMB 48.5 billion in the six months ended June 30, 2021[24] - Integrated supply chain customers generated revenue of RMB 33,617,508 thousand, while other customers contributed RMB 14,854,942 thousand for the six months ended June 30, 2021, compared to RMB 25,932,253 thousand and RMB 5,610,613 thousand respectively in 2020[104] - JD.com reported a revenue of RMB 253.8 billion for the six months ended June 30, 2021, representing a year-over-year increase of 39%[200] Customer Metrics - The number of external integrated supply chain customers reached 59,067, a year-on-year increase of 58.7%[18] - Active customer accounts reached 487.5 million, an increase of 30 million from the previous quarter[200] Logistics and Infrastructure - The company operated approximately 1,200 warehouses and 7,800 distribution stations as of June 30, 2021[7] - The logistics network includes over 210 sorting centers and more than 1,000 air freight routes[10] - The last-mile delivery network consists of around 200,000 self-owned delivery personnel and approximately 7,800 distribution stations[11] - The company has established over 300 railway routes in collaboration with China Railway Group, including about 200 high-speed railway routes[10] - The warehousing network covers nearly all counties in China, with a total management area of approximately 23 million square meters[9] - The company aims to enhance its logistics network capabilities, ensuring 24-hour delivery across provinces and regions[21] - The company plans to expand its logistics network, aiming to increase the number of warehouses by 20% by the end of 2022[200] Financial Performance - Operating costs rose by 69.9% to RMB 46.7 billion, consistent with rapid revenue growth and reduced government support related to COVID-19[25] - Employee compensation expenses increased by 48.6% to RMB 17.2 billion due to a rise in the number of service-providing employees[25] - Rental costs increased by 60.4% to RMB 4.5 billion, primarily due to the expansion of leased warehouses and distribution centers[26] - Gross profit for the six months ended June 30, 2021, was RMB 1.8 billion, down from RMB 4.1 billion for the same period in 2020, resulting in a gross margin decrease from 12.9% to 3.7%[27] - The company recorded a loss of RMB 15.2 billion for the six months ended June 30, 2021, compared to a profit of RMB 600 million for the same period in 2020, mainly due to fair value changes of convertible redeemable preferred shares and reduced government support[35] - The fair value change of convertible redeemable preferred shares resulted in a loss of RMB 12.8 billion for the six months ended June 30, 2021, compared to a loss of RMB 800 million for the same period in 2020[34] - The company reported a total loss attributable to owners of the company of RMB 15,360,404,000 in H1 2021, compared to a profit of RMB 650,456,000 in H1 2020[111] - Basic loss per share for H1 2021 was RMB (3.62), a significant decline from RMB 0.17 in H1 2020[111] Research and Development - Research and development expenses amounted to RMB 1.4 billion, constituting 2.8% of total revenue[7] - Research and development expenses rose by 55.2% from RMB 900 million for the six months ended June 30, 2020, to RMB 1.4 billion for the same period in 2021, reflecting ongoing investments in technology and innovation[29] - The company has applied for and obtained over 500 patents related to autonomous driving technology as of June 30, 2021[16] - The company has deployed over 100 smart delivery vehicles across more than 10 cities, enhancing delivery capabilities in various urban scenarios[16] - JD.com is investing in new technology, including AI and big data analytics, to enhance customer experience and operational efficiency[200] Cash Flow and Financing - As of June 30, 2021, the company's cash and cash equivalents amounted to RMB 25.9 billion, a significant increase from RMB 9.7 billion as of June 30, 2020[40] - The net cash generated from operating activities for the six months ended June 30, 2021, was RMB 239.8 million, a decrease from RMB 5.2 billion for the same period in 2020[41] - The net cash used in investing activities for the six months ended June 30, 2021, was RMB 1.1 billion, compared to RMB 1.8 billion for the same period in 2020[43] - The net cash generated from financing activities for the six months ended June 30, 2021, was RMB 20.3 billion, a recovery from a net cash outflow of RMB 3.1 billion in the same period of 2020[44] - The company has no major external financing plans and aims to meet liquidity requirements through operating cash flow and funds raised from global offerings[42] Shareholder Information - Liu Qiangdong holds 4,023,186,705 shares, representing 65.07% of the company's equity as of June 30, 2021[52] - Liu Qiangdong has a voting power of 76.9% in JD.com, reflecting his significant control over the company[53] - The total number of shares issued by JD.com as of June 30, 2021, is 6,182,981,772[52] - The total number of ordinary shares issued by JD.com is 3,112,453,115 as of June 30, 2021[54] Sustainability and Corporate Responsibility - The company is committed to sustainable development, being the first logistics enterprise in China to establish science-based carbon targets[22] - JD.com is focusing on sustainability initiatives, aiming to reduce carbon emissions by 50% by 2030[200] Future Outlook - The company has set a revenue guidance of RMB 500 billion for the full year 2021, reflecting continued growth momentum[200] - JD.com is exploring potential mergers and acquisitions to strengthen its market position and expand its service offerings[200]