京东第二季度收入同比增速创近三年新高

Core Insights - JD Group reported a revenue of 356.7 billion yuan for Q2 2025, marking a year-on-year growth of 22.4%, the highest growth rate in nearly three years [2] - The company's R&D expenditure reached 5.3 billion yuan in Q2, up 25.7% year-on-year, with cumulative R&D investment exceeding 150 billion yuan since the full technology transformation in 2017 [2] - Active user numbers and shopping frequency both saw over 40% year-on-year growth, with active users achieving double-digit growth for seven consecutive quarters [2] Retail Business Performance - JD's retail business generated 310.1 billion yuan in revenue for Q2, a 20.6% increase year-on-year, with operating profit at 13.9 billion yuan and an operating margin of 4.5% [3] - The "618 Shopping Festival" saw record-breaking performance, with order numbers exceeding 2.2 billion and daily active users on the JD app reaching an all-time high [3][4] - The number of JD's 3C digital stores surpassed 3,000, and the company opened 24 JD MALL locations, enhancing its offline presence [3] New Business Developments - JD's new business segment, particularly its food delivery service, experienced a 199% year-on-year revenue growth in Q2, with daily orders surpassing 25 million during the "618" period [5] - The food delivery service now covers 350 cities and has over 150,000 quality restaurant partners, with nearly 200 brands achieving sales exceeding 1 million yuan [5] - JD launched the "Seven Fresh Kitchen" initiative to innovate the supply chain model in the food delivery market, with plans to establish 10,000 locations nationwide within three years [5][6] Strategic Focus - The company emphasizes the integration of its supply chain and differentiated strategies to enhance profitability, focusing on consumer-to-manufacturer (C2M) models to reduce inventory turnover and procurement costs [4] - JD aims to maintain a strong user experience and operational efficiency while strategically advancing new business areas like food delivery [6] - The collaboration between JD's existing retail and new business segments is expected to drive long-term growth and efficiency improvements [6]