京东三季度外卖等新业务收入增长214%，环比加速

Core Insights - JD Group reported Q3 2025 revenue of 299.1 billion RMB, a year-on-year increase of 14.9%, exceeding expectations [1] - The core retail business of JD continues to strengthen its market position, with daily necessities category revenue growing by 18.8%, approximately four times the industry average growth rate [1] - New business segments, such as food delivery, saw a significant revenue increase of 214% year-on-year, accelerating growth compared to Q2 [1] Business Performance - Service revenue grew by 30.8% year-on-year, reaching a historical high of 24.4% of total revenue [1] - The annual active user count surpassed 700 million in October, marking a new milestone for the company [2] - JD's CEO highlighted the establishment of a multi-engine complementary growth matrix within the core retail business, indicating confidence in maintaining market leadership despite challenges in certain categories [2] Strategic Developments - The food delivery segment continues to expand, with improved unit economics leading to a reduction in losses compared to previous quarters [2] - The company aims to leverage the growth potential in daily necessities and advertising services, indicating a focus on diversifying revenue streams [2] - Overall, JD's various business segments are making steady progress, with expectations for collaborative efforts to unlock long-term development potential across the business ecosystem [2]