京东健康(06618) - 2023 - 中期业绩

Financial Performance - Total revenue for the six months ended June 30, 2023, reached RMB 27,110,336 thousand, representing a year-on-year increase of 34.0% compared to RMB 20,225,212 thousand in the same period of 2022[2] - Gross profit for the same period was RMB 6,203,000 thousand, up 40.5% from RMB 4,414,559 thousand in the previous year[2] - The company reported a pre-tax profit of RMB 1,831,226 thousand, a significant increase of 385.3% from RMB 377,346 thousand in the prior year[2] - Net profit for the period was RMB 1,561,992 thousand, reflecting a remarkable growth of 600.6% compared to RMB 222,958 thousand in the same period last year[2] - Revenue increased by 34.0% from RMB 20.2 billion for the six months ended June 30, 2022, to RMB 27.1 billion for the six months ended June 30, 2023[14] - Gross profit rose from RMB 4.4 billion with a gross margin of 21.8% to RMB 6.2 billion with a gross margin of 22.9%[16] - Net profit increased significantly from RMB 223.0 million to RMB 1,562.0 million for the respective periods[23] - The company reported a net profit of RMB 1.56 billion for the six months ended June 30, 2023, significantly up from RMB 223 million in the prior year, indicating a year-over-year increase of approximately 600%[36] User Engagement and Market Expansion - The number of annual active users reached 168.6 million, an increase of 37.3 million from 131.3 million as of June 30, 2022[4] - Self-operated sales through JD Pharmacy generated revenue of RMB 23,200 million, marking a 32.5% year-on-year growth[6] - Daily average online consultations exceeded 440,000 during the first half of 2023[4] - As of June 30, 2023, the online platform has over 36,000 third-party merchants, with participating merchants and products during the 618 promotion doubling year-on-year[8] - The omnichannel layout covers over 400 cities in China, with more than 1,200 partnered chain brands and over 100,000 cooperative stores, of which over 60% are located in tier-three cities and below[8] Product and Service Development - The company launched several innovative drugs online, including AbbVie's targeted therapy for atopic dermatitis and a new drug developed by Adimab[6] - JD Health is enhancing its digital marketing strategies in collaboration with partners like Abbott and Omron to improve health management services for chronic disease patients[7] - The company aims to enhance the accessibility of pharmaceutical and healthcare products, focusing on the growth potential of retail pharmacy business[13] - Plans to leverage new information technologies, including large language models, for product and service upgrades driven by AI technology[13] - The company is committed to building a closed-loop service model in specialized disease areas to meet diverse healthcare needs[13] - The integration of online and offline medical services is being enhanced through partnerships with healthcare institutions and government departments[13] Financial Position and Cash Flow - Cash and cash equivalents decreased from RMB 18.7 billion at the beginning of the period to RMB 11.9 billion at the end of the period[26] - For the six months ended June 30, 2023, net cash generated from operating activities was RMB 400 million, primarily due to a profit of RMB 1.6 billion, adjusted for non-cash and non-operating items totaling RMB 1.5 billion[28] - For the same period, net cash used in investing activities was RMB 7.2 billion, mainly due to deposits in time deposits of RMB 11.8 billion and purchases of financial assets at fair value of RMB 3.8 billion[29] - Net cash used in financing activities for the six months ended June 30, 2023, was RMB 185 million, primarily due to lease payment principal of RMB 94 million[30] - As of June 30, 2023, the company had no outstanding borrowings, thus no capital debt ratio was presented[31] Operational Efficiency - Operating costs increased by 32.2% from RMB 15.8 billion to RMB 20.9 billion, mainly due to higher sales of pharmaceutical and health products[15] - Fulfillment expenses increased by 31.9% from RMB 1.9 billion to RMB 2.6 billion, while the percentage of fulfillment expenses to revenue slightly decreased from 9.6% to 9.5%[17] - Research and development expenses rose by 26.7% from RMB 486.8 million to RMB 616.9 million, accounting for 2.3% of revenue, down from 2.4%[19] - The company continues to expand its operational network and improve merchant efficiency through targeted marketing and traffic support measures[8] Corporate Governance and Compliance - The company has complied with all applicable code provisions of the Corporate Governance Code during the reporting period[49] - The audit committee reviewed the unaudited consolidated financial statements for the six months ended June 30, 2023, ensuring adherence to accounting policies and internal controls[51] - The company did not declare or pay any dividends for the six months ended June 30, 2023, consistent with the previous year[48]