Can JD's Surging User Base Power Its Next Phase of Revenue Growth?

Key Takeaways JD.com's active users in the third quarter of 2025 jumped over 40% as net revenues rose 14.9% to RMB 299.1B.Rising shopping frequency and ecosystem tools like JD Food Delivery are boosting engagement.AI search, personalisation and offline expansion support stronger conversion as activity builds.JD.com (JD) operates a vertically integrated e-commerce model built on direct procurement, proprietary logistics and strict quality control. This structure offers greater control over inventory and fulf ...