Financial Performance - For the fiscal year ending December 31, 2024, JD Logistics reported total revenue of RMB 182.84 billion, a year-on-year increase of 9.7%[7] - Gross profit for the same period reached RMB 18.70 billion, reflecting a significant growth of 47.4% compared to the previous year[7] - The company achieved a pre-tax profit of RMB 7.72 billion, marking a remarkable increase of 376.6% year-on-year[7] - Net profit for the fiscal year was RMB 7.09 billion, which is a staggering increase of 507.2% compared to the previous year[7] - The non-IFRS profit for the year was RMB 7.92 billion, up 186.8% year-on-year, with a non-IFRS profit margin of 4.3%, an increase of 2.7 percentage points[7] - In 2024, the company's total revenue reached RMB 182.8 billion, a year-on-year increase of 9.7%, with external customer revenue at RMB 127.8 billion, up 9.6%, accounting for nearly 70% of total revenue[17] - The non-IFRS profit for 2024 was RMB 7.9 billion, a significant year-on-year increase of 186.8%, with a profit margin of 4.3%, marking the highest levels since the company went public[18] - The annual profit for 2024 reached RMB 7,087,553 thousand, a significant increase from RMB 1,167,195 thousand in 2023, representing a growth of approximately 507%[121] - The total revenue for the year ended December 31, 2024, was RMB 182.84 billion, an increase from RMB 166.62 billion in 2023, representing a growth of approximately 9.3%[119] Customer Growth and Market Expansion - The number of external integrated supply chain customers increased to 80,703, representing an 8.0% year-on-year growth, with an average revenue per customer of RMB 400,000[12] - The integrated supply chain customer revenue reached RMB 87.4 billion in 2024, with external integrated supply chain customer revenue at RMB 32.3 billion, maintaining a steady growth trend[22] - The number of external integrated supply chain customers increased to 80,703, representing an 8.0% year-on-year growth, with an average revenue per external customer of RMB 400,000[22] - The number of external integrated supply chain customers grew from 74,714 in 2023 to 80,703 in 2024, reflecting increased demand for services[74] Operational Efficiency and Technology - JD Logistics has integrated with the Taobao Tmall platform, enhancing its service capabilities across major e-commerce platforms in China[12] - The company operates 9 dedicated cargo aircraft, improving service efficiency and market competitiveness, particularly for high-value perishable goods[13] - The company continues to focus on technology innovation and investment, enhancing operational automation, digitalization, and intelligent decision-making to optimize cost and efficiency[21] - The logistics technology initiative includes the upgrade of the "JD Logistics Super Brain," integrating AI, big data, and operations research to enhance supply chain efficiency[33] - The "Smart Wolf" solution was launched in 2024, featuring high-density storage and full-process automation, significantly improving picking and storage efficiency[36] Infrastructure and Logistics Network - The company has established over 100 bonded, direct mail, and overseas warehouses, covering 19 countries and regions, with a total management area exceeding 1 million square meters[21] - The company expanded its overseas warehouse in Malaysia, doubling its area, and opened a new overseas warehouse in Japan, improving regional coverage capabilities[26] - The logistics network includes warehousing, transportation, last-mile delivery, and cold chain networks, forming a robust foundation for supply chain solutions[38] - The company operates a nationwide warehousing network with over 1,600 owned warehouses and more than 2,000 third-party cloud warehouses, totaling over 32 million square meters of managed area as of December 31, 2024[39] - The cold chain network includes approximately 60 temperature-controlled warehouses for fresh and frozen foods, and over 40 specialized warehouses for pharmaceuticals and medical devices, with a total area of around 400,000 square meters as of December 31, 2024[45] Financial Stability and Cash Flow - The operating cash flow for 2024 was RMB 20,790,727,000, an increase from RMB 16,352,016,000 in 2023, reflecting a growth of approximately 27%[96] - The company's free cash flow for 2024 was RMB 8,100,000,000, compared to RMB 2,800,000,000 in 2023, marking a growth of about 189%[97] - As of December 31, 2024, the total cash resources of the company amounted to RMB 47.8 billion[95] - The company's total liabilities decreased from RMB 15,099,215,000 in 2023 to RMB 840,448,000 in 2024, indicating improved financial stability[96] - The company's debt-to-equity ratio was approximately 13.1%[103] Employee and Operational Costs - The total human resources expenditure, including both employees and external personnel, reached RMB 89.2 billion for the fiscal year ending December 31, 2024[51] - Employee compensation and benefits expenses for 2024 totaled RMB 68.8 billion, a year-on-year increase of 10.7% from RMB 62.2 billion in 2023[111] - Operating costs rose by 9.9% from RMB 42,847,951 thousand in Q4 2023 to RMB 47,080,378 thousand in Q4 2024, but the percentage of operating costs to revenue decreased from 90.8% to 90.4%[61] Corporate Governance and Sustainability - JD Logistics has been recognized in the S&P Global Corporate Sustainability Assessment, reflecting its commitment to sustainable development[13] - The company is committed to green supply chain practices, focusing on innovations in warehousing, transportation, and packaging to reduce logistics costs and promote high-quality industrial development[51] - The company has established an audit committee to monitor risk management policies and ensure effective internal control systems[151] - The company has complied with all applicable corporate governance codes as of December 31, 2024[148] Dividends and Shareholder Returns - The board of directors has not recommended a final dividend for the fiscal year ending December 31, 2024[8] - The company did not declare any dividends for the year ended December 31, 2024, consistent with 2023[140]
京东物流(02618) - 2024 - 年度业绩