Sou Hu Cai Jing·2025-08-15 11:13Core Insights - JD Group reported Q2 2025 revenue of 356.66 billion yuan, a year-on-year increase of 22.4%, while net profit attributable to ordinary shareholders fell by 51% to 6.2 billion yuan [1] - The new business segment, which includes food delivery, generated revenue of 13.852 billion yuan in Q2, marking a significant year-on-year growth of 198.8%, but incurred an operating loss of 14.777 billion yuan [3][4] - Marketing expenses saw the highest year-on-year growth among costs, increasing by 127.6% from 11.9 billion yuan in Q2 2024 to 27 billion yuan in Q2 2025, primarily due to increased spending on new business promotions [3] Business Strategy - JD's CEO emphasized that food delivery and instant retail are crucial long-term strategic directions for the company, with ongoing investments in operational and system capabilities [3] - JD's founder stated that the cost of acquiring customers through food delivery is more economical than purchasing traffic from platforms like Douyin and Tencent, as 40% of food delivery customers also purchase e-commerce products [4] - The company aims for long-term success in the food delivery business, planning to invest 10 billion yuan in building a new supply chain and establish 10,000 "Seven Fresh Kitchens" across the country within three years [4] User Engagement - JD reported a year-on-year increase of over 40% in both active user numbers and shopping frequency in Q2 [4] - The core retail business generated revenue of 310.075 billion yuan, reflecting a year-on-year growth of 20.62%, with an operating profit margin of 4.5% [4] Financial Position - As of the end of June, JD Group had cash and cash equivalents amounting to 116.547 billion yuan [4]