Huan Qiu Wang·2025-11-14 05:20Core Insights - JD Group reported Q3 2025 revenue of 299.1 billion RMB, a year-on-year increase of 14.9%, with net profit at 5.3 billion RMB, down from 11.7 billion RMB in the same period last year [1] - New business segments, including food delivery, saw a revenue increase of 214% year-on-year, while service revenue grew by 30.8%, reaching a historical high of 24.4% of total revenue [1] - CEO Xu Ran highlighted that the "national subsidy" policy has significantly stimulated consumer demand, particularly in the home appliance and computer categories, leading to a high base effect in industry growth [1] Business Strategy - During the "national subsidy" period, JD actively supported policy implementation, enhancing market share and supply chain capabilities in the home appliance and 3C categories, particularly through its self-operated model [2] - The continuous strengthening of these core advantages is seen as JD's differentiated competitive edge and the foundation for long-term business development [2] - JD aims to leverage its strengths in product, pricing, and service to reinforce user perception and continuously consolidate and enhance market share [2]