Sou Hu Cai Jing·2025-08-16 05:07Core Insights - JD Group reported a revenue of 356.66 billion RMB for Q2 2025, representing a year-over-year growth of 22.4%, surpassing market expectations of 335.45 billion RMB [1][2] - The net profit attributable to ordinary shareholders was 6.2 billion RMB, down from 12.6 billion RMB in Q2 2024, indicating a decline in profitability [1][2] - Adjusted earnings per ADS were 4.97 RMB, exceeding market estimates of 3.78 RMB, showcasing the company's ability to outperform expectations in terms of earnings stability [1][2] Revenue Breakdown - JD Retail achieved net revenues of 310.07 billion RMB in Q2 2025, a 20.6% increase from 257.07 billion RMB in Q2 2024 [2] - JD Logistics reported revenues of 51.56 billion RMB, up from 44.21 billion RMB in the same period last year [2] - New Businesses segment saw revenues rise to 13.85 billion RMB from 4.64 billion RMB year-over-year [2] Profitability Metrics - JD Retail's operating income increased to 13.94 billion RMB in Q2 2025, compared to 10.11 billion RMB in Q2 2024 [2] - The operating profit margin for JD Retail improved from 3.9% in Q2 2024 to 4.5% in Q2 2025, indicating enhanced operational efficiency [1][2] - Total consolidated income from operations showed a loss of 82 million RMB in Q2 2025, a significant decline from a profit of 10.5 billion RMB in Q2 2024 [2] Overall Performance - Despite a decline in certain profit metrics, JD Group's overall revenue and core business performance remain strong, reflecting its leading position and growth potential in the e-commerce market [1][2]