2025-04-17 11:12Financial Performance - Net revenues for Q4 2024 were RMB 347.0 billion (US$ 47.5 billion), a 13.4% increase from Q4 2023, while full-year revenues reached RMB 1,158.8 billion (US$ 158.8 billion), up 6.8% year-on-year[4] - Income from operations for Q4 2024 was RMB 8.5 billion (US$ 1.2 billion), a significant increase of 319.3% from RMB 2.0 billion in Q4 2023, with an operating margin of 2.4%[24] - Net income attributable to ordinary shareholders for Q4 2024 was RMB 9.9 billion (US$ 1.4 billion), compared to RMB 3.4 billion in Q4 2023, resulting in a net margin of 2.8%[4] - The diluted net income per ADS for Q4 2024 was RMB 6.47 (US$ 0.89), reflecting a 203.8% increase from RMB 2.13 in Q4 2023[5] - Full year 2024 net revenues increased by 6.8% to RMB 1,158.8 billion (US$ 158.8 billion) from RMB 1,084.7 billion in 2023[30] - Full year 2024 net income attributable to the Company's ordinary shareholders increased by 71.1% to RMB 41.4 billion (US$ 5.7 billion) from RMB 24.2 billion in 2023[38] - Non-GAAP net income attributable to the Company's ordinary shareholders increased by 34.2% to RMB 11.3 billion (US$ 1.5 billion) for Q4 2024 from RMB 8.4 billion for Q4 2023[27] - Non-GAAP net income attributable to the Company's ordinary shareholders for the year ended December 31, 2024, was RMB 47,827 million, an increase of 36.0% from RMB 35,200 million in 2023[66] Cash Flow and Dividends - Free cash flow for Q4 2024 was RMB 23.5 billion (US$ 3.2 billion), up from RMB 13.3 billion in Q4 2023[28] - The company announced an annual cash dividend of US$ 0.5 per ordinary share, totaling approximately US$ 1.5 billion, payable around April 23, 2025[6] - Net cash provided by operating activities for Q4 2024 increased to RMB 24,891 million, up from RMB 19,613 million in Q4 2023, representing a growth of 26%[67] - Free cash flow for Q4 2024 reached RMB 23,470 million, compared to RMB 13,299 million in Q4 2023, indicating an increase of 76%[67] - Net cash used in financing activities for the full year 2024 was RMB 21.0 billion (US$ 2.9 billion), primarily for share repurchases and dividends[42] Share Repurchase and Equity - The share repurchase program resulted in the repurchase of approximately 255.3 million Class A ordinary shares for about US$ 3.6 billion, representing 8.1% of ordinary shares outstanding as of December 31, 2023[8] - The number of ordinary shares issued as of February 28, 2025, was 2,981 million, with 207 million Class A ordinary shares repurchased and cancelled under the US$3.0 billion share repurchase program announced in March 2024[62] - The company's total shareholders' equity increased to RMB 312,813 million as of December 31, 2024, from RMB 295,766 million as of December 31, 2023[61] Marketing and Expenses - Marketing expenses increased by 28.4% to RMB 16.8 billion (US$ 2.3 billion) in Q4 2024, representing 4.9% of net revenues[21] - Marketing expenses increased by 19.5% to RMB 48.0 billion (US$ 6.6 billion) for the full year 2024 from RMB 40.1 billion in 2023[32] Operational Highlights - JD Health expanded its "Express Test at Your Doorstep" program, launching 149 express testing products available in 12 core cities, covering over 150 million people[12] - JD Logistics outlined its overseas roadmap, focusing on building a global warehouse and air freight network to enhance supply chain solutions for international customers[15] Assets and Liabilities - Cash and cash equivalents totaled RMB 241.4 billion (US$ 33.1 billion) as of December 31, 2024, up from RMB 197.7 billion a year earlier[28] - Total current liabilities increased to RMB 299,521 million as of December 31, 2024, up from RMB 265,650 million as of December 31, 2023[61] - Total assets as of December 31, 2024, were RMB 698,234 million, compared to RMB 628,958 million as of December 31, 2023[59] - Total liabilities, mezzanine equity, and shareholders' equity amounted to RMB 698,234 million as of December 31, 2024, compared to RMB 628,958 million as of December 31, 2023[61] Revenue Breakdown - JD Retail segment net revenues for Q4 2024 were RMB 307.1 billion (US$ 42.1 billion), a 14.7% increase year-over-year[44] - Electronics and home appliances revenues for the year ended December 31, 2024, were RMB 564,982 million, reflecting a 4.9% year-over-year growth[46] - General merchandise revenues for the same period increased to RMB 363,025 million, marking a 9.2% year-over-year rise[46] - Net product revenues for the year ended December 31, 2024, totaled RMB 928,007 million, up 6.5% compared to the previous year[46] - The company reported net service revenues of RMB 230,812 million for the year ended December 31, 2024, which is an 8.1% increase year-over-year[46] - Logistics and other service revenues for the year ended December 31, 2024, were RMB 140,701 million, reflecting a 9.3% year-over-year growth[46] - Marketplace and marketing revenues for the year ended December 31, 2024, increased to RMB 90,111 million, a 6.4% rise from the previous year[46] Future Outlook - The company plans to hold a conference call on March 6, 2025, to discuss its financial results for the three months and the full year ended December 31, 2024[47]