Core Insights - In 2025, JD's discount shopping brand Jingxi achieved a tenfold increase in transaction volume, serving over 400 million users cumulatively over two years [1][5][15] - Jingxi has deepened its connections with over 260 industrial belts nationwide, with nearly 100 enterprises achieving annual sales exceeding 1 million orders [1][7] - To combat price wars in the low-cost e-commerce sector, Jingxi upgraded its business model, introducing six new initiatives aimed at sustainable growth for merchants [1][9] Group 1: Performance Metrics - Jingxi's self-operated segment reported a tenfold year-on-year increase in transaction volume, reflecting strong growth momentum [5] - The number of merchants on Jingxi's platform exceeded 2 million, with over 20,000 merchants experiencing a doubling of order volume [11][13] - In 2025, five major provinces saw order volumes surpass 100 million, with Zhejiang's orders exceeding 300 million and some provinces experiencing up to a fourfold year-on-year growth [7] Group 2: Business Strategies - Jingxi's new business directions include export-to-domestic sales, brand partnerships, and quality selection, aimed at providing a stable growth path for industrial belt merchants [1][10] - The platform has supported over 2,000 foreign trade factories in entering the domestic market, resulting in 180 million orders, a threefold increase year-on-year [10] - Jingxi's focus on high-quality, cost-effective products aligns with consumer demand, leading to significant sales increases across various categories, including furniture and baby products [7][15] Group 3: Future Outlook - In 2026, Jingxi aims to continue reinforcing its brand identity as a provider of affordable, high-quality products, targeting an additional 150 million new users and expanding its product offerings to 3 million [4][15] - The platform's long-term strategy emphasizes sustainable profit growth for merchants, as demonstrated by the success of specific products like the螺蛳粉, which saw significant sales and profit improvements [15]

Core Insights - JD's discount shopping brand "Jingxi Self-operated" reported a tenfold increase in transaction volume by 2025, attracting 150 million new users to JD [1] - The brand aims to create a healthy business ecosystem by connecting factories directly with consumers, eliminating unnecessary intermediaries [1][2] - Jingxi Self-operated currently serves 370 million users and links to 260 industrial belts, with plans to stabilize sales for 500,000 factories and create 5 million jobs in the next three years [1][3] Business Strategy - Jingxi Self-operated focuses on reducing costs by eliminating middlemen, allowing high-quality products to reach consumers directly [2][3] - The brand provides support in marketing, operations, logistics, and customer service, enabling factories to concentrate on production [2][6] - The "Strict Selection" mechanism ensures product quality while leveraging JD's logistics for efficient delivery [3][4] Market Positioning - Jingxi Self-operated addresses the issue of excessive low-price competition that compromises product quality [2][3] - The brand has introduced six business initiatives to combat price wars and support factories, including export-to-domestic sales and premium product selections [3][5] - The brand's strategy includes expanding product categories to include food, fresh produce, and clothing, aiming for explosive growth in all categories [3][6] Future Goals - Jingxi Self-operated plans to attract 150 million new users and increase the number of industrial belt products to 3 million over the next three years [7] - The brand aims to enhance user retention and increase average order value by improving marketing, logistics, and service [7] - The long-term vision includes fostering high-quality development in over 260 industrial belts and creating "invisible champion" clusters in the industry [7]