Guan Cha Zhe Wang·2025-05-15 06:28Core Viewpoint - JD.com is experiencing significant growth driven by founder Liu Qiangdong's active involvement in frontline operations and innovation, leading to a remarkable performance in Q1 2025, with revenues reaching 301.1 billion yuan, a year-on-year increase of 15.8% [1][4][9] Financial Performance - In Q1 2025, JD.com's revenue was approximately 301.1 billion yuan, marking a 15.78% increase compared to Q4 2024's 13.37% growth, indicating a return to double-digit growth for the first time in two years [4][5] - The active user base grew by over 20% in the same quarter, reflecting JD.com's increasing appeal amidst a competitive market [1][4] - The revenue from electronic products and home appliances increased by 17%, while daily necessities saw a 15% growth, showcasing the resilience and quality of JD.com's core business [7][8] Strategic Initiatives - Liu Qiangdong has conducted extensive training sessions for management, focusing on strategic design, business tactics, and user experience, which has contributed to the company's robust performance [1][11] - JD.com is actively pursuing a "second entrepreneurship" approach, emphasizing quality development and social responsibility as key themes for the next decade [3][16] - The company is enhancing its supply chain capabilities and expanding into new business areas, such as quality food delivery, with Liu personally engaging in these initiatives [12][14] Market Positioning - JD.com is positioned as a leader in the retail sector, achieving growth rates significantly higher than the overall market, which grew by only 3.4% [1][4] - The company has maintained a focus on customer experience, with a commitment to providing high-quality products and services, which has strengthened its market position [7][9] - JD.com's long-term strategy emphasizes sustainable growth through supply chain optimization and collaboration across its ecosystem [9][17]