2024-03-06 10:30Financial Performance - Q4 2023 revenue reached RMB 306.1 billion (USD 43.1 billion), a 3.6% increase year-over-year[2] - Full-year 2023 revenue totaled RMB 1,084.7 billion (USD 152.8 billion), up 3.7% from 2022[2] - Q4 2023 operating profit was RMB 2 billion (USD 300 million), down from RMB 4.8 billion in the same quarter last year[2] - Full-year 2023 operating profit increased to RMB 26 billion (USD 3.7 billion) from RMB 19.7 billion in 2022[2] - Q4 2023 net profit attributable to ordinary shareholders was RMB 3.4 billion (USD 500 million), compared to RMB 3 billion in Q4 2022[2] - Full-year 2023 net profit attributable to ordinary shareholders rose to RMB 24.2 billion (USD 3.4 billion) from RMB 10.4 billion in 2022[2] - Q4 2023 diluted earnings per ADS were RMB 2.13 (USD 0.30), up from RMB 1.91 in Q4 2022[3] - Full-year 2023 operating cash flow was RMB 59.5 billion (USD 8.4 billion), compared to RMB 57.8 billion in 2022[3] - Free cash flow for 2023 was RMB 40.65 billion (USD 5.73 billion), up from RMB 35.60 billion in 2022[16] - The net profit attributable to ordinary shareholders for 2023 was RMB 24.2 billion (USD 3.4 billion), a significant increase of 132.8% from RMB 10.4 billion in 2022[15] Shareholder Returns - The company announced a new share repurchase plan to buy back up to USD 3 billion worth of shares over the next 36 months[2] - The annual cash dividend for 2023 is set at USD 0.38 per ordinary share, totaling approximately USD 1.2 billion[4] Operating Costs and Expenses - The company's operating costs rose by 3.4% to RMB 262.6 billion (USD 37.0 billion) in Q4 2023, compared to RMB 253.9 billion in Q4 2022[8] - Fulfillment expenses increased by 2.5% to RMB 17.3 billion (USD 2.4 billion), accounting for 5.6% of revenue in Q4 2023, down from 5.7% in the same period last year[8] - Marketing expenses grew by 9.4% to RMB 13.1 billion (USD 1.8 billion), representing 4.3% of revenue, up from 4.1% in Q4 2022[8] - Research and development expenses decreased by 3.0% to RMB 16.4 billion (USD 2.3 billion) in 2023, accounting for 1.5% of total revenue[13] - Marketing expenses increased by 6.3% to RMB 40.1 billion (USD 5.7 billion) in 2023, representing 3.7% of total revenue[13] Cash and Assets - As of December 31, 2023, the company's cash and cash equivalents totaled RMB 197.7 billion (USD 27.8 billion), down from RMB 226.2 billion a year earlier[11] - JD.com reported total assets of RMB 628,958 million, an increase from RMB 595,250 million as of December 31, 2022, representing a growth of approximately 5.7%[29] - The company's cash and cash equivalents decreased to RMB 71,892 million in 2023 from RMB 78,861 million in 2022, a decline of about 8.3%[29] - Total current assets amounted to RMB 307,810 million in 2023, down from RMB 351,074 million in 2022, a decrease of about 12.3%[29] - Non-current assets increased significantly to RMB 321,148 million in 2023 from RMB 244,176 million in 2022, marking a growth of approximately 31.5%[29] Liabilities and Equity - Total liabilities increased to RMB 332,578 million in 2023 from RMB 321,127 million in 2022, reflecting a rise of approximately 3.5%[30] - Shareholders' equity attributable to JD.com, Inc. rose to RMB 231,858 million in 2023, up from RMB 213,366 million in 2022, indicating an increase of about 8.7%[31] - The total liabilities to equity ratio for JD.com as of December 31, 2023, was approximately 1.12, indicating a slight increase from the previous year[30] Market and Growth Strategy - The company has expanded its retail operations, achieving record sales during the 11.11 shopping festival, with over 380 million views on its live-streaming sales events[6] - The company plans to continue expanding its market presence and investing in new technologies and products to drive future growth[18] - The company plans to continue expanding its logistics capabilities and enhancing its technology infrastructure to drive efficiency and innovation in retail services[22] - The company is focused on customer acquisition and retention to drive revenue growth in the competitive e-commerce market[28] Non-GAAP Financial Metrics - The company defines non-GAAP operating profit/loss excluding stock-based compensation, intangible asset amortization from acquisitions, and other non-recurring items[25] - Non-GAAP net profit/loss attributable to ordinary shareholders is adjusted for various non-recurring expenses and income, reflecting the company's ongoing operations[26] - Non-GAAP EBITDA is calculated by adding back depreciation and amortization to non-GAAP operating profit/loss, excluding intangible asset amortization from acquisitions[25] - The company emphasizes the importance of non-GAAP financial metrics for assessing current performance and future prospects, as they exclude certain non-cash and non-recurring items[26] - Management believes that these non-GAAP metrics provide useful information to investors for evaluating the company's core operating results[26] - The company warns that non-GAAP financial metrics have limitations and may differ from those used by other companies, affecting comparability[26] Forward-Looking Statements - Forward-looking statements are included in the announcement, highlighting risks and uncertainties that may lead to actual results differing from expectations[28] - The company acknowledges potential regulatory changes and market conditions that could impact its operations and financial performance[28] Conference Call - The management will hold a conference call on March 6, 2024, to discuss the financial performance for the three months and year ended December 31, 2023[22]