Core Insights - JD Group's Q2 FY2025 financial report highlights robust growth in a challenging market, with total revenue reaching RMB 356.66 billion, a 22.4% increase year-over-year, surpassing market expectations of RMB 335.45 billion [1] - Despite a slight decline in net profit, adjusted net profit under non-GAAP was RMB 74 billion, indicating ongoing profitability after financial restructuring [1] - The adjusted earnings per ADS were RMB 4.97, significantly exceeding the market estimate of RMB 3.78, showcasing strong earnings stability [1] Retail Segment Performance - The retail segment reported net revenue of RMB 3.101 trillion, a year-over-year growth of 20.6%, reflecting strong growth momentum [2] - Operating income for JD Retail reached RMB 139 billion, up from RMB 101 billion in Q2 2024, demonstrating significant improvement [2] - The operating profit margin increased from 3.9% in Q2 2024 to 4.5% in Q2 2025, further validating the profitability and operational efficiency of JD Retail [2] Financial Data Summary - JD Retail net revenues rose from RMB 257.07 billion in Q2 2024 to RMB 310.08 billion in Q2 2025 [3] - JD Logistics net revenues increased from RMB 44.21 billion to RMB 51.56 billion during the same period [3] - New Businesses segment revenues surged from RMB 4.64 billion to RMB 13.85 billion, indicating strong growth in this area [3]

京东Q2收入强劲增长，营收3567亿元， 同比增22.4% ；但净利润出现明显下滑，归属于普通股股东 的净利润62亿元， 较去年同期的126亿元下跌51%。 新业务板块收入同比飙升198.8%， 主要由京东外卖驱动。 然而，该板块的运营亏损从去年同期的7 亿元急剧扩大至148亿元，运营利润率为负106.7%，是拖累集团整体利润的主要原因。 京东Q2营收3567亿元，同比增22.4%，但净利润出现明显下滑。新业务板块收入同比飙升198.8%， 主要由京东外卖驱动。然而，该板块的运营亏损从去年同期的7亿元急剧扩大至148亿元，运营利润率 为负106.7%，是拖累集团整体利润的主要原因。 14日，京东公布Q2财报： 京东集团Q2营收3567亿元人民币，同比增长22.4%，市场预估3354.5亿元人民币。 归属股东净利润下滑至62亿元，去年同期126亿元，同比下跌51%。Non-GAAP净利润从145亿元降至 74亿元，同比下滑49%。 京东Q2整体运营亏损9亿元，运营利润率从去年同期的3.6%转为负0.2%。 每ADS收益从8.19元降至4.15元，市场预估3.78元人民币。 自由现金流（FCF）从去年同期的496 ...