Core Viewpoint - JD.com reported its best quarterly performance since 2022, with a revenue increase of 15.8% year-on-year to 301.1 billion yuan, driven by strong growth in its core categories of 3C and daily necessities [1][4]. Financial Performance - JD.com's revenue and profit both saw significant year-on-year growth, marking the highest growth rates in the past three years. The core retail business revenue grew by 16.31% to 263.845 billion yuan, supported by effective cost control [4][5]. - The operating profit for the quarter increased by 31.4% to 11.7 billion yuan, with the operating profit margin rising from 3% to 3.5% [1][4]. Strategic Initiatives - Liu Qiangdong's return to the front lines has led to a focus on the food delivery and instant retail sectors, with no short-term revenue or profit targets set for these new initiatives [2][10]. - JD.com is facing intense competition in the e-commerce market, particularly from Alibaba, Pinduoduo, and Douyin, which are aggressively targeting JD's core categories [2][10]. Cost Management - Despite an increase in overall expenses, JD.com managed to keep the growth of most cost items below the revenue growth rate, with operating costs rising by 15% to 253.2 billion yuan [8]. - The company is focusing on improving efficiency through AI and performance assessment reforms [8]. Market Challenges - JD.com is under pressure from market share erosion by competitors like Pinduoduo and Douyin, which are targeting key categories such as 3C and beauty products [10][11]. - The company aims to attract new core users and increase the purchase frequency of existing users through new business initiatives [10][11]. Future Outlook - The success of new business ventures, such as food delivery, is crucial for JD.com to expand its market share and enhance user retention [11]. - Liu Qiangdong's personal involvement in the food delivery sector is seen as a strategy to leverage his influence for rapid business integration and market penetration [11].