2025-08-14 09:46Financial Performance - JD Health reported a revenue of RMB 35,290,047, representing a year-on-year increase of 24.5% compared to RMB 28,343,961 in the previous year[5] - Gross profit reached RMB 8,891,918, reflecting a 32.7% increase from RMB 6,699,943 year-on-year[5] - Operating profit surged by 105.5% to RMB 2,127,048, up from RMB 1,035,018 in the same period last year[5] - Non-IFRS profit for the period was RMB 3,570,104, marking a 35.0% increase from RMB 2,643,770 year-on-year[5] - Period profit increased from RMB 2,034.4 million for the six months ended June 30, 2024, to RMB 2,591.3 million for the six months ending June 30, 2025[29] - The company reported a net profit of RMB 2,591,347 thousand for the six months ended June 30, 2025, compared to RMB 2,034,378 thousand in 2024, reflecting a year-over-year increase of 27.3%[49] - The net profit attributable to the owners of the company for the six months ended June 30, 2025, was RMB 2,596,445 thousand, representing a 27.5% increase from RMB 2,037,182 thousand in 2024[57] User Engagement and Growth - The number of active users exceeded 200 million, with an average of over 500,000 daily consultations during the reporting period[8] - The number of active users increased, contributing to a 22.7% rise in sales of pharmaceutical and health products, from RMB 23.9 billion to RMB 29.3 billion during the same period[20] - AI services under the "AI京醫" series have served over 50 million users, enhancing health management services[16] - The company aims to enhance user growth and engagement while improving brand awareness through its business expansion efforts[70] Product and Service Expansion - The company launched over 30 innovative drugs online, reinforcing its position as the first platform for new specialty drug launches[10] - The number of merchants on the platform surpassed 150,000, an increase of over 50,000 compared to December 31, 2024[11] - JD Health expanded its "JD Medicine Fast Delivery" service, connecting over 200,000 pharmacies nationwide[12] - The company is actively exploring innovative service models in retail pharmacies, including a strategic partnership with Beijing Children's Hospital[12] - The company expanded its rapid testing services to over 160 types across 23 cities[15] - The company has allocated RMB 9,010 million for business expansion, including the development of retail pharmacy and online healthcare services[70] Financial Position and Cash Flow - Cash and cash equivalents increased to RMB 25.2 billion as of June 30, 2025, from RMB 22.6 billion as of December 31, 2024[33] - The company’s liquidity is primarily supported by cash generated from operating activities, with total cash reserves reaching RMB 66 billion as of June 30, 2025[33] - Operating cash flow for the six months ended June 30, 2025, was RMB 6,244.7 million, significantly up from RMB 2,230.2 million for the same period in 2024[35] - The net cash used in investing activities decreased from RMB 8,372.8 million for the six months ended June 30, 2024, to RMB 3,556.4 million for the same period in 2025[35] Cost and Expense Management - Sales and marketing expenses increased by 28.8% from RMB 1.4 billion to RMB 1.8 billion, with the percentage of revenue slightly rising from 5.0% to 5.1%[24] - R&D expenses increased by 14.2% from RMB 645.0 million for the six months ended June 30, 2024, to RMB 736.4 million for the six months ending June 30, 2025, accounting for 2.1% of revenue, down from 2.3%[25] - General and administrative expenses decreased by 10.7% from RMB 685.1 million for the six months ended June 30, 2024, to RMB 611.5 million for the six months ending June 30, 2025, representing 1.7% of revenue, down from 2.4%[26] - Fulfillment expenses as a percentage of revenue decreased from 10.4% to 10.1%, despite an increase in total fulfillment costs[23] Corporate Governance and Compliance - The audit committee has reviewed the unaudited consolidated financial statements for the six months ending June 30, 2025[66] - The company has confirmed compliance with the "Standard Code" regarding securities trading by directors for the six months ending June 30, 2025[65] - The company has established an audit committee, nomination committee, and remuneration committee to enhance corporate governance[67] - The company will continue to review and monitor its corporate governance practices to maintain high standards[64] Assets and Liabilities - As of June 30, 2025, the total assets amounted to RMB 78,460,123 thousand, an increase from RMB 71,274,993 thousand as of December 31, 2024[50] - Total liabilities as of June 30, 2025, were RMB 20,483,202 thousand, a significant increase from RMB 16,034,155 thousand as of December 31, 2024[59] - Trade payables increased to RMB 13,594,659 thousand as of June 30, 2025, from RMB 10,423,314 thousand at the end of 2024, marking a 30.5% rise[62] - Deferred tax liabilities decreased to RMB 297,735 thousand as of June 30, 2025, from RMB 364,414 thousand as of December 31, 2024[59] Employee and Workforce - Employee headcount increased to 4,572 as of June 30, 2025, compared to 3,177 as of June 30, 2024, reflecting a growth of 44%[43] - Total employee compensation and benefits expenses remained stable at RMB 1,200,000 thousand for both periods ended June 30, 2025, and 2024[43] Dividends and Shareholder Returns - The company did not declare or pay any dividends to ordinary shareholders for the six months ended June 30, 2025, consistent with the previous year[62] - As of June 30, 2025, the company has not proposed any interim dividend distribution[69] Investment and Fundraising - The company has raised approximately RMB 25.7 billion in net proceeds from its global offering, intended for business expansion, potential investments, and working capital needs[70] - The company has a remaining unutilized fundraising amount of RMB 3,490 million as of June 30, 2025[70]