Financial Performance - Revenue for 2023 reached RMB 166,624.71 million, a 21.3% increase from RMB 137,402.01 million in 2022[5] - Gross profit for 2023 was RMB 12,683.16 million, up 25.6% from RMB 10,099.64 million in 2022[5] - Net profit for 2023 was RMB 1,167.20 million, compared to a net loss of RMB 1,090.29 million in 2022[5] - Non-IFRS profit for 2023 was RMB 2,760.84 million, a significant increase from RMB 866.03 million in 2022[5] - Revenue increased by 21.3% from RMB 137.4 billion in 2022 to RMB 166.6 billion in 2023[37] - Revenue from integrated supply chain customers grew by 5.2% from RMB 77.4 billion in 2022 to RMB 81.5 billion in 2023[37] - Revenue from other customers surged by 42.0% from RMB 60.0 billion in 2022 to RMB 85.2 billion in 2023[38] - The average revenue per integrated supply chain customer increased by 15.2% from RMB 365,015 in 2022 to RMB 420,363 in 2023[37] - The company's non-IFRS EBITDA increased from RMB 10.99 billion in 2022 to RMB 14.61 billion in 2023[35] - The company's non-IFRS profit rose from RMB 866 million in 2022 to RMB 2.76 billion in 2023[35] - Gross profit and gross margin improved to RMB 12.7 billion and 7.6% in 2023, up from RMB 10.1 billion and 7.4% in 2022, due to optimized business and customer structure and economies of scale[41] - Net profit for 2023 was RMB 1.2 billion, a significant turnaround from a net loss of RMB 1.1 billion in 2022[46] - Non-IFRS profit for 2023 was RMB 2.76 billion, with a non-IFRS profit margin of 1.7%, compared to RMB 866 million and 0.6% in 2022[48] - Other net income for 2023 was RMB 858.7 million, a reversal from a loss of RMB 571.7 million in 2022, driven by increased government subsidies and financial income[45] - The company's non-IFRS EBITDA for 2023 was RMB 14,605,753 thousand, with a profit margin of 8.8%[50] Assets and Liabilities - Total assets for 2023 increased to RMB 112,901.72 million from RMB 106,697.27 million in 2022[6] - Non-current assets for 2023 grew to RMB 56,243.30 million, up from RMB 49,093.11 million in 2022[6] - Current liabilities for 2023 rose to RMB 39,331.40 million from RMB 34,246.23 million in 2022[6] - Equity attributable to owners of the company for 2023 was RMB 48,157.92 million, up from RMB 46,580.70 million in 2022[6] - Total cash resources as of December 31, 2023, amounted to RMB 42.2 billion[51] - Net cash generated from operating activities in 2023 was RMB 16,352,016 thousand[52] - Free cash inflow for 2023 was RMB 2.8 billion, compared to RMB 1.3 billion in 2022[53] - Net cash used in investing activities in 2023 was RMB 15,099,215 thousand[55] - Net cash used in financing activities in 2023 was RMB 5,546,825 thousand[56] - The capital-to-debt ratio as of December 31, 2023, was approximately 20.7%[57] - The company's outstanding borrowings as of December 31, 2023, amounted to RMB 10 billion[90] - Restricted cash pledged as collateral amounted to RMB 194.0 million as of December 31, 2023[62] Logistics and Operations - JD Logistics' total revenue in 2023 reached RMB 166.6 billion, a year-on-year increase of 21.3%[7][10] - Revenue from external customers in 2023 was RMB 116.6 billion, accounting for 70.0% of total revenue, with a year-on-year growth of 30.8%[7][10] - External integrated supply chain customer revenue in 2023 was RMB 31.4 billion, a year-on-year increase of 7.7%[10] - The number of external integrated supply chain customers with annual revenue contribution of at least RMB 10 million reached 384, a year-on-year increase of 6.1%[10] - The average revenue per external integrated supply chain customer was RMB 45.9 million, a year-on-year increase of 8.8%[10] - JD Logistics operates over 1,600 warehouses and more than 19,000 delivery stations as of December 31, 2023[11] - The company employs nearly 350,000 self-operated delivery and operational personnel as of December 31, 2023[11] - JD Logistics has nearly 4,600 professional R&D personnel as of December 31, 2023[11] - The company continues to integrate its network with Deppon Logistics to enhance its comprehensive logistics network[11] - JD Logistics' warehouse automation solutions have been adopted by external clients in industries such as automotive parts, apparel, and pharmaceuticals[7] - Revenue from integrated supply chain customers reached RMB 81.5 billion in 2023, with external integrated supply chain customer revenue at RMB 31.4 billion, a year-on-year increase of 7.7%[12] - The number of external integrated supply chain customers served reached 74,714, with average revenue per customer increasing by 15.2% to RMB 420,000[12] - Revenue from external integrated supply chain customers contributing at least RMB 10 million annually increased to RMB 17.624 billion, accounting for 56.1% of total external integrated supply chain customer revenue[14] - Revenue from external integrated supply chain customers contributing less than RMB 10 million annually was RMB 13.783 billion, accounting for 43.9% of total external integrated supply chain customer revenue[15] - Revenue from other customers grew by 42.0% year-on-year to RMB 85.2 billion in 2023[18] - The company completed the transfer of assets from 83 JD Logistics freight forwarding centers to Deppon Logistics by the end of December 2023[19] - JD Logistics launched a "next morning delivery" service in December 2023, covering 9 cities including Beijing and Shanghai[19] - The company deepened its cooperation with a Chinese tech company in Europe, optimizing inventory allocation for faster delivery in core European countries and regions[17] - JD Logistics expanded its cooperation with Douyin and Kuaishou, providing high-quality logistics services during Kuaishou's Double 11 shopping festival[19] - The company provided exclusive nationwide home charging pile supply chain services for a renowned international new energy vehicle brand in the second half of 2023[16] - The company's warehousing network covers nearly all counties in China, with over 1,600 self-operated warehouses and 2,000 cloud warehouses, totaling over 32 million square meters[23] - The company operates 41 Asia No. 1 smart industrial parks in 30 cities, with the Kunshan Asia No. 1 facility handling over 4.5 million packages daily during the 618 promotion[23] - The company's self-owned transportation fleet exceeds 40,000 vehicles, with over 600 railway routes and more than 1,000 air cargo routes covered through partnerships[25] - The company operates 6 self-owned cargo aircraft, covering domestic and international routes, including 4 international cargo routes opened in 2023[25] - The company has nearly 350,000 self-owned delivery personnel and operates over 19,000 delivery stations and outlets, covering 300+ cities across 33 provinces[26] - The company manages over 200 large-item warehouses and sorting centers, with a total area exceeding 4 million square meters[27] - The company operates approximately 100 cold chain warehouses for fresh and frozen food, covering 500,000 square meters, and over 30 specialized warehouses for pharmaceuticals and medical devices, covering 300,000 square meters[29] - The company has deployed over 1,800 large-item delivery and installation stations under the "Jingdong Bang" brand to expand coverage in lower-tier cities[28] - The company's logistics technology includes high-density storage systems, automated guided vehicles, and intelligent delivery vehicles, enhancing automation across the supply chain[20] - The company operates nearly 90 bonded warehouses, direct mail warehouses, and overseas warehouses, with a total managed area of nearly 900,000 square meters[30] - The company deployed dozens of hydrogen-powered heavy-duty logistics trucks in 2023, becoming the first logistics enterprise to scale the use of hydrogen-powered trucks[32] Costs and Expenses - Operating costs increased by 20.9% from RMB 127.3 billion in 2022 to RMB 153.9 billion in 2023, driven by business growth and the full-year consolidation of Deppon Logistics[40] - Employee compensation and benefits for operational staff rose by 23.9% from RMB 44.6 billion in 2022 to RMB 55.3 billion in 2023, partly due to increased headcount and the full-year consolidation of Deppon Logistics[40] - Outsourcing costs increased by 16.9% from RMB 51.6 billion in 2022 to RMB 60.3 billion in 2023, driven by higher demand for outsourcing services and the full-year consolidation of Deppon Logistics[40] - R&D expenses grew by 14.4% from RMB 3.1 billion in 2022 to RMB 3.6 billion in 2023, reflecting continued investment in technology and innovation[43] - The company's total human resources expenditure (including own employees and external personnel) reached RMB 22.8 billion for the three months ended December 31, 2023, and RMB 82.1 billion for the full year[32] - Employee compensation and benefits expenses, including share-based payments, reached RMB 62.2 billion in 2023, a 22.3% increase from RMB 50.8 billion in 2022[60] Technology and Innovation - The company has obtained over 4,000 authorized patents and software, with more than 2,000 related to automation and unmanned technologies[21] - The company's logistics technology includes high-density storage systems, automated guided vehicles, and intelligent delivery vehicles, enhancing automation across the supply chain[20] - The company deployed dozens of hydrogen-powered heavy-duty logistics trucks in 2023, becoming the first logistics enterprise to scale the use of hydrogen-powered trucks[32] - R&D expenses grew by 14.4% from RMB 3.1 billion in 2022 to RMB 3.6 billion in 2023, reflecting continued investment in technology and innovation[43] Human Resources - The company employs nearly 350,000 self-operated delivery and operational personnel as of December 31, 2023[11] - JD Logistics has nearly 4,600 professional R&D personnel as of December 31, 2023[11] - Total number of employees as of December 31, 2023, is 457,015, with operations staff accounting for 95.4% (436,208 employees)[60] - Employee distribution by function: Sales and Marketing (10,011 employees, 2.2%), R&D (4,553 employees, 1.0%), General and Administrative (6,243 employees, 1.4%)[60] - The company implements pre-IPO and post-IPO employee equity incentive plans, share option plans, and share award plans[60] - Employee compensation and benefits expenses, including share-based payments, reached RMB 62.2 billion in 2023, a 22.3% increase from RMB 50.8 billion in 2022[60] - The company participates in mandatory social security programs in China, including pension, medical, unemployment, maternity, work injury insurance, and housing provident fund[60] Corporate Governance and Leadership - Hu Wei, aged 41, was appointed as Executive Director and CEO on June 26, 2023[63] - Liu Qiangdong, aged 51, serves as Chairman and Non-Executive Director, having been re-appointed on October 15, 2020[63] - Wu Hao, aged 37, was appointed as the Chief Financial Officer on May 11, 2023, overseeing the company's finance and investments[70] - Wu Hao joined JD Group in May 2014, holding positions such as Group Internal Control Director, Risk Control Director, and Head of the Audit Department[70] - Wu Hao holds a Bachelor's degree in Management from China University of Geosciences and an MBA from Peking University's Guanghua School of Management[70] - Zhao Mingjing serves as the Company Secretary and has over 10 years of experience in the company secretarial industry[71] - Zhao Mingjing holds a Bachelor of Arts degree from the University of Toronto and a Master of Arts in Professional Accounting and Information Systems from City University of Hong Kong[71] - Zhao Mingjing is a Fellow and Senior Member of the Chartered Governance Institute and the Hong Kong Chartered Governance Institute[71] - The Board consists of executive directors, non-executive directors, and independent non-executive directors, with Liu Qiangdong serving as Chairman[196] - Hu Wei was appointed as an executive director effective June 26, 2023, while Yu Rui resigned as an executive director on the same date[197] - The Chairman, Liu Qiangdong, is responsible for the effective operation and leadership of the Board, while the CEO oversees business development and daily operations[198] - The Board has complied with the Listing Rules by appointing at least three independent non-executive directors, constituting one-third of the Board[199] - Non-executive directors and independent non-executive directors have initial terms of three years, subject to retirement and re-election[200] - All directors confirmed strict compliance with the insider trading policy during the reporting period[195] - The company has adopted and complied with all applicable code provisions of the Corporate Governance Code as set out in Appendix C1 of the Listing Rules[194] Shareholding and Equity - Liu Qiangdong holds approximately 64.94% of the company's shares through beneficial ownership and controlled entities[101] - Liu Qiangdong holds 340,405,330 shares of JD.com, representing 10.8% beneficial ownership and 69.9% of total voting rights[105] - Liu Qiangdong has a 68.51% beneficial ownership in JD Health through controlled entities, holding 2,184,655,829 shares[108] - Liu Qiangdong fully controls China Logistics Assets with 3,474,283,058 shares, representing 100% ownership[108] - JD.com has issued a total of 3,144,236,167 shares of common stock as of December 31, 2023[104] - Fortune Rising Holdings Limited holds 17,581,344 B-class shares of JD.com, managed under the company's equity incentive plan[106] - Hu Wei holds 48,360 shares of JD.com, representing 0.00% beneficial ownership[108] - Zhao Xiande holds 661 shares of JD.com, representing 0.00% beneficial ownership[108] - JD Jiankang Limited, a wholly-owned subsidiary of JD.com, holds 2,149,253,732 shares of JD Health[109] - JD Property Development holds 74.96% of China Logistics Assets as of December 31, 2023[109] - Jingdong Technology Group Corporation holds 4,192,271,100 shares, representing 63.44% of the total issued shares[111] - TCT (BVI) Limited and 匯聚信託有限公司 each hold 508,143,522 shares, representing 7.69% of the total issued shares[111] - 50,870,208 new shares were issued or may be issued under the post-IPO share option plan and post-IPO share award plan, representing approximately 0.77% of the weighted average number of issued shares[114] - The maximum number of new shares that may be issued under the pre-IPO employee equity incentive plan is 598,847,916 shares[117] - As of the reporting date, 127,111,887 unexercised share options were granted under the pre-IPO employee equity incentive plan, representing approximately 1.92% of the issued share capital[117] - Total equity incentives granted to directors and other grantees amounted to 161,490,066 shares[122] - The maximum number of shares available for issuance under the post-IPO share option plan is 609,160,767, representing 9.20% of the issued share capital[126] - The post-IPO share option plan has a remaining term of over 7 years, effective until May 28, 2031[128] - The exercise price for the post-IPO share option plan cannot be lower than the higher of the closing price on the grant date or the average closing price of the five trading days preceding the grant date[130] - The total equity incentives granted to the five highest-paid individuals during the reporting period amounted to 6,828,667 shares[122] - The maximum number of reward shares that can be granted under the post-IPO share reward plan is 609,160,767 shares, limited to 3% of the total issued shares during the relevant period[136] - As of December 31, 2023, 519,696,156 reward shares are available for grant under the post-IPO share reward plan[137] - The total number of new shares that can be issued under the post-IPO share reward plan is capped at 609,160,767 shares, representing 10% of the post-listing issued share capital[138] - As of December 31, 2023, 280,860,767 new shares are available for issuance under the post-IPO share reward plan, representing approximately 4.24% of the issued share capital[138] - During the reporting period, 55,937,435 reward shares were granted to eligible participants under the post-IPO share reward plan[137] - The post-IPO share reward plan will remain effective for a 10-year period from the listing date until May 28, 2031, with approximately 7 years remaining[141] - The fair value of the reward shares granted during the reporting period was determined based on the market value of the shares on
京东物流(02618) - 2023 - 年度财报