Hua Er Jie Jian Wen·2025-05-16 12:44Core Viewpoint - The "618" shopping festival has gained new significance this year due to several internet companies increasing their investment in the food delivery market, particularly highlighted by JD's strong quarterly earnings report [2][4]. Financial Performance - JD's Q1 revenue reached 301.1 billion yuan, a year-on-year increase of 15.8%, marking the highest growth rate in three years. Net profit attributable to ordinary shareholders was 10.9 billion yuan, up 52.7% year-on-year [2]. - New business operating expenses, including food delivery, rose from 1.51 billion yuan in the same period last year to 2.49 billion yuan, a 65.3% increase, leading to a loss of 1.327 billion yuan for new businesses with an operating profit margin of -23.1% [2][3]. Business Growth - Other business segments, such as daily necessities and 3P business, saw revenue growth of 14.9% and 15.71% respectively, while new businesses, including Dada and overseas operations, grew by 18.1% year-on-year [2]. - JD's user growth exceeded 20% in Q1, achieving double-digit growth for six consecutive quarters [3]. Strategic Initiatives - JD's CEO highlighted the positive impact of the food delivery business on overall platform traffic and user acquisition [3]. - JD's food delivery service achieved a daily order volume of over 20 million, doubling from 10 million in just over 20 days [3]. - The launch of the "Seven Fresh Food MALL" in Harbin, featuring live-streamed kitchens and a mix of local and trendy food brands, is set for June 18 [3]. Upcoming Events - The JD 618 shopping festival will officially start at the end of May, offering significant consumer benefits, including daily subsidies exceeding 1,000 yuan per person [4]. - JD's logistics will enhance its services with a new "618 Running Plan," introducing three tiers of delivery services to improve efficiency and reduce costs for merchants [4][5]. Logistics and Infrastructure - JD's logistics network includes over 3,600 warehouses and 32 million square meters of storage, with a 60% increase in cities covered by 211 delivery services and a 35% increase in next-day delivery coverage [5]. - The upgraded logistics network aims to further enhance supply chain capabilities and support merchants in cost reduction and efficiency improvement [5].