JD(09618)2025-03-06 09:30Financial Performance - For Q4 2024, JD.com reported revenue of RMB 347 billion (USD 47.5 billion), a year-over-year increase of 13.4%. For the full year 2024, revenue was RMB 1,158.8 billion (USD 158.8 billion), up 6.8% from 2023[6]. - Q4 2024 operating profit was RMB 8.5 billion (USD 1.2 billion), with an operating margin of 2.4%, compared to 0.7% in Q4 2023. Full year operating profit reached RMB 38.7 billion (USD 5.3 billion), with an operating margin of 3.3%[6]. - Net profit attributable to ordinary shareholders for Q4 2024 was RMB 9.9 billion (USD 1.4 billion), with a net profit margin of 2.8%, compared to 1.1% in Q4 2023. For the full year 2024, net profit was RMB 41.4 billion (USD 5.7 billion), with a net profit margin of 3.6%[7]. - The diluted earnings per American Depositary Share (ADS) for Q4 2024 was RMB 6.47 (USD 0.89), a 203.8% increase from RMB 2.13 in Q4 2023. For the full year 2024, diluted earnings per ADS was RMB 26.86 (USD 3.68), up 76.4% from RMB 15.23 in 2023[7]. - Free cash flow for the full year 2024 was RMB 43.74 billion (USD 5.99 billion), an increase from RMB 40.65 billion in 2023[30]. - Net profit attributable to ordinary shareholders increased by 71.1% to RMB 41.4 billion (USD 5.7 billion) in 2024, with a net profit margin of 3.6%[28]. Shareholder Returns - JD.com announced a cash dividend of USD 0.5 per ordinary share, or USD 1.0 per ADS, totaling approximately USD 1.5 billion, with payment expected on April 23, 2025, for ordinary shareholders and April 29, 2025, for ADS holders[8]. - The company plans to continue its stock repurchase program, maintaining a total amount of USD 5 billion, reinforcing its commitment to creating shareholder value[7]. - The company repurchased approximately 255.3 million Class A ordinary shares, totaling about 2.3 billion) in Q4 2024, accounting for 4.9% of revenue[16]. - Research and development expenses rose by 1.0% to RMB 4.4 billion ($600 million) in Q4 2024, representing 1.3% of revenue[17]. Future Outlook - The company expects continued growth in revenue driven by its retail and logistics segments in the upcoming fiscal year[39]. - JD.com plans to enhance its technology and infrastructure to support retail-as-a-service solutions for partners and brands[39]. - The company plans to report financials in three segments starting Q1 2024: JD Retail, JD Logistics, and New Businesses, reflecting changes in operational strategy[32]. - JD.com is focused on expanding its market presence and improving operational efficiency through innovative supply chain solutions[39]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[52]. Cash and Assets - As of December 31, 2024, the company's cash and cash equivalents totaled RMB 241.4 billion (USD 33.1 billion), up from RMB 197.7 billion as of December 31, 2023[22]. - Cash and cash equivalents as of December 31, 2023, were RMB 71,892 million, projected to rise to RMB 108,350 million by December 31, 2024, indicating a growth of 50.5%[48]. - Total assets increased from RMB 628,958 million in 2023 to RMB 698,234 million in 2024, marking a growth of 11%[51]. - The company’s cash and cash equivalents at the end of December 31, 2024, are projected to be RMB 115,716 million, up from RMB 79,451 million in 2023, an increase of 45.6%[59]. Non-GAAP Metrics - The company utilizes non-GAAP financial metrics such as operating profit/loss, net profit/loss attributable to common shareholders, and EBITDA to assess business performance[41]. - Non-GAAP operating profit/loss excludes stock-based compensation, amortization of intangible assets from acquisitions, and other non-recurring items, providing a clearer view of ongoing operations[43]. - Non-GAAP EBITDA is calculated by adding depreciation and amortization to non-GAAP operating profit/loss, excluding amortization of intangible assets from acquisitions[43]. - The company believes that non-GAAP financial metrics help investors understand and evaluate current operational performance and future prospects in the same way as management[43]. - Limitations of non-GAAP metrics include not reflecting all revenue and expense items affecting operations, and potential differences in how other companies use similar metrics, limiting comparability[44]. Market Performance - JD Retail revenue reached RMB 307,055 million for the same period, with a year-over-year growth of 14.7%[36]. - JD Logistics generated revenue of RMB 52,097 million, reflecting a year-over-year increase of 10.4%[36]. - New business revenue decreased to RMB 4,681 million, showing a decline of 31.0% year-over-year[36]. - The company reported a total annual revenue of RMB 1,158,819 million for the year ended December 31, 2024, marking a 6.8% increase from the previous year[36]. Employee and Human Resources - As of December 31, 2024, the total human resources expenditure reached RMB 116.1 billion, with approximately 570,000 employees[18].