JD(US:JD) Xin Lang Cai Jing·2025-11-14 02:09Core Insights - JD Group reported a revenue of 299.1 billion RMB for Q3 2025, representing a year-on-year growth of 14.9% [1] - The net profit attributable to ordinary shareholders for Q3 2025 was 5.3 billion RMB, down from 11.7 billion RMB in the same period last year [1] - The significant decline in net profit is primarily attributed to increased investments in the food delivery business [3][4] Revenue Breakdown - JD Retail revenue for Q3 2025 was 250.6 billion RMB, a year-on-year increase of 11.4% [2] - JD Logistics revenue reached 55.1 billion RMB, up 24.2% year-on-year [2] - New business revenue, including food delivery, amounted to 15.6 billion RMB, a staggering year-on-year increase of 213.7% [4] Cost and Profitability - Marketing expenses surged by 110.5% year-on-year to 21.1 billion RMB in Q3 2025, accounting for 7% of total revenue [3] - New business incurred a loss of 15.7 billion RMB in Q3 2025, compared to a loss of 0.6 billion RMB in the same quarter last year [4] - The overall investment in the food delivery business has decreased quarter-on-quarter, attributed to improvements in the unit economic model [4] Strategic Focus - The CEO emphasized that food delivery and instant retail are long-term strategic priorities aimed at sustainable growth [4][5] - JD aims to reduce user acquisition costs and maintain profitability while pursuing sustainable growth [5] - The company is committed to enhancing operational efficiency and improving the unit economic model for food delivery [4] International Expansion and AI Strategy - JD is advancing its international business by leveraging supply chain capabilities for local e-commerce, with operations starting in several European countries [8] - The company is building a comprehensive AI capability system and plans to invest significantly in AI over the next three years [8] - New AI products and applications have been launched across various sectors, including retail, healthcare, logistics, and industry [8]