JD(US:JD) Mei Ri Jing Ji Xin Wen·2025-08-15 06:41Core Viewpoint - JD.com reported its Q2 2025 earnings, achieving revenue of 356.7 billion yuan, a year-on-year increase of 22.4%, surpassing market expectations and setting a record for revenue growth in nearly three years. However, non-GAAP net profit was 7.4 billion yuan, a 49% decrease year-on-year, primarily due to increased investment in the food delivery business [1]. Business Performance - The retail segment of JD.com showed strong performance, driven by the continuous impact of national subsidy policies, the consumption boost from the 618 shopping festival, and high traffic from food delivery activities. Despite significant short-term investments in the food delivery business putting pressure on profits, the company's main business continues to expand steadily, with profitability exceeding expectations [1]. - Overall, the Q2 financial report's performance was better than market expectations, significantly boosting market sentiment [1]. Analyst Insights - CICC analysis indicates that JD.com's retail business demonstrates strong resilience, and it is expected that its operating profit will maintain a steady growth trend. For investors, the Hang Seng Internet ETF (513330), which heavily invests in leading internet companies like JD.com, has become a convenient tool for positioning in this high-potential sector [1].