京东：三季度，京东外卖保持健康发展

Core Insights - JD's food delivery service has shown healthy growth in Q3 2025, with steady increases in both GMV and order volume while reducing overall investment [1] - The improvement in profitability per order is attributed to enhanced operational efficiency and rational competition within the industry [1] - The synergy between JD's food delivery and core retail business has been beneficial, particularly in user growth, frequency of purchases, and cross-category shopping [1] - The launch of "Seven Fresh Kitchen" has received widespread consumer recognition, maintaining high daily order volumes, representing a significant innovation in the supply chain model for the food delivery industry [1]