Core Insights - The JinCai Pro, developed by JD Supply Chain Financial Technology, has been recognized as an excellent case of financial innovation at the 20th China Economic Forum, addressing the financial challenges in supply chain management for industrial enterprises [1] Group 1: Product Features and Benefits - JinCai Pro integrates JD's supply chain and financial resources to provide a comprehensive solution for procurement, performance, credit, payment terms, and fund management, enhancing efficiency for industrial enterprises [1] - The product features a "second-level credit approval" system, allowing for rapid credit assessments, with some scenarios requiring only 1 second for approval [1] - JinCai Pro offers flexible services such as "purchase first, pay later," significantly alleviating inventory pressure for enterprises, with credit limits increasing by nearly 80% during the 2025 November 11 shopping event [1] Group 2: Impact on Enterprises - The case of Shandong Jingbo Holdings Group illustrates that JinCai Pro has extended procurement payment terms, improved cash flow stability, and ensured a more orderly supply of key raw materials [2] - Jingbo stated that JinCai Pro has reduced cash flow pressure, allowing the company to allocate more resources to production and R&D [2] - The product is positioned as a stabilizer and efficiency enhancer for the super supply chain, addressing the need for transparent and sustainable financial capabilities in the context of industrial upgrades [2] Group 3: Financial Support and Scale - JD Supply Chain Financial Technology provides over 500 billion yuan in financing support annually to enterprises across the supply chain [3] - During the 2025 November 11 period, the company served nearly 500,000 enterprise clients with efficient financial services [3] - The integration of technology and deep scenario fusion continues to inject "financial vitality" into enterprises within the super supply chain [3]

在北纬37°这片被誉为"世界黄金海岸线"的富饶海域，生长着一种独特的海洋美味——生蚝。 乳山生蚝，不仅个大肥美、鲜嫩多汁，还富含营养，凭借高品质和独特口感入选国家地理标志产品，丰 富着万千海鲜爱好者的味蕾。 对此，京东依托超级供应链能力，构建了从养殖到捕捞的全链路品控体系。一方面，通过直接与乳山等 核心产区的企业或合作社合作，实现产地直采，确保货源正宗，减少中间加价；同时，在产区设立协同 仓，生蚝捕捞处理后直接进仓分包、装箱，实现源头直发，再通过京东物流高效的供应链，保障最快24 小时内送达消费者手中。 在此过程中，京东制定了一套严格的品控标准，对生蚝的肥满度、鲜活度、规格大小等进行把控。比 如，京东自营的乳山生蚝全部拥有防伪标识，方便消费者扫码溯源，确保来源可查询、去向可跟踪、真 假可辨识；还有专业品控团队不定期抽检，并且提供"坏死包赔"服务，确保品质符合标准。 京东生蚝采销文聪介绍，目前市面上，一些标注3XL规格的，实际上只有2XL大；标10斤重的，实际包 括了箱内的两大冰袋，而京东一直坚持足斤足重，"标净重5斤，自营商家保证足斤发货。"他们还会定 期对品控团队收集的用户反馈进行完善，"比如夏天高温的时候 ...

Core Insights - JD Group reported a revenue of 299.1 billion yuan for Q3 2025, marking a year-on-year growth of 14.9% [2][27] - The number of annual active users surpassed 700 million in October, indicating strong user growth and shopping frequency [2][27] - The success is attributed to JD's investment in a super supply chain, which enhances efficiency across production, distribution, and consumption [2][27] Retail Performance - Core retail business showed robust growth, with daily necessities, supermarkets, and apparel categories significantly outperforming industry averages [6][27] - Daily necessities revenue grew by 18.8%, approximately four times the industry average, while apparel revenue growth reached eight times the industry average [6][27] - JD Fashion's new branding initiative led to a 288% increase in sales for winter apparel during the 11.11 shopping festival [8][27] New Business Growth - New business segments, particularly food delivery, saw a revenue increase of 214% year-on-year, with improved profitability metrics [16][27] - The number of quality restaurants on JD's food delivery platform exceeded 2 million, with significant growth in order volume for top brands [15][27] - JD's innovative business models, such as the Seven Fresh Kitchen, achieved a three-day repurchase rate three times the industry average [16][27] Technological Advancements - JD has invested nearly 160 billion yuan in R&D since 2017, enhancing the capabilities of its supply chain [20][27] - The logistics sector has seen the implementation of advanced systems, achieving over 95% automation in logistics operations [22][27] - AI technology integration has significantly improved operational efficiency, with a fourfold increase in the usage of JD's AI models [22][27] Social Responsibility - JD has committed to employee welfare, being the first in the industry to sign formal contracts with all frontline workers and cover their social insurance [24][27] - The company has initiated various programs to support rural revitalization and public welfare, demonstrating its commitment to social responsibility [25][27] - JD's actions reflect a dual focus on creating commercial and social value through its supply chain initiatives [25][27]

Core Insights - JD Group launched an independent JD Takeout App to enhance user convenience and experience in food delivery services [2] - The JD Takeout App integrates various local life services, including food delivery, instant retail, reviews, travel, and shopping [2] - The launch of the app is part of JD's strategy to meet the growing demand for deep user engagement in the takeout business [2] Group 1 - JD Takeout App was introduced to address user feedback regarding the accessibility of the takeout service [2] - The app aims to provide a comprehensive local life service experience, combining multiple functionalities for users [2] - The app is fully integrated with JD Reviews, offering users reliable consumption references for dining and leisure activities [2] Group 2 - The event also saw the launch of additional products such as JD Reviews, JD True List, and Seven Fresh Coffee, enhancing local life services [4] - The introduction of these new products is expected to strengthen the synergy effects within JD's service offerings [4] - JD is leveraging its "super supply chain" capabilities to meet diverse user needs across various scenarios [4]

Core Insights - JD.com has launched an independent food delivery app to enhance user convenience and experience [1][2][4] - The company introduced several new products, including JD Review and JD True List, aimed at improving local life services and leveraging its "super supply chain" capabilities [1][4] - JD.com emphasizes that its review and ranking services will never be commercialized to ensure fairness and objectivity [1][5] Group 1: JD Food Delivery App - JD.com officially launched its independent food delivery app, which is now available for download on the Apple App Store [2] - The app aims to meet the growing demand for deep user engagement and enhance user experience through product innovation [4] - The JD Food Delivery App integrates with JD Review to provide comprehensive consumer references for dining and entertainment [4] Group 2: JD Review and JD True List - JD Review utilizes AI technology to analyze data from various sources, providing objective evaluations of restaurants, hotels, and attractions [4][5] - JD True List ranks dining and hospitality options based on user preferences and feedback, ensuring a diverse range of choices for consumers [5][6] - The company has committed to never commercializing its review services to maintain integrity and avoid biased rankings [5][6] Group 3: User Engagement and Quality Assurance - JD.com is recruiting 100,000 "JD Truth Officers" to conduct blind tests for the JD True List, ensuring unbiased evaluations [5][6] - The evaluation process includes a "buy-eat-separate" mechanism to eliminate external influences on food quality assessments [6][7] - The first blind testing event for the JD True List will take place in Beijing, with a list of qualifying dishes already announced [7]

雷厉风行"赶场"的刘强东，为京东的扩张版图又添了新的一笔。 《星岛》见习记者 曹安浔 深圳报道 11月17日，三亚保利瑰丽酒店举办了第三场京东品酒会，京东集团创始人、董事局主席刘强东再度现 身，正式宣布上线京东外卖app、京东点评与京东真榜。 《星岛》在现场获悉，京东外卖app不仅能提供品质外卖服务，更集"外卖+购物+数码家电+买药+酒店 +生鲜"等业态于一体，为用户提供更全面便捷的本地生活服务。 至于点评和真榜，则永不商业化。刘强东介绍称，京东点评将基于全国第一个榜单AI大模型，智能分 析全网关于餐厅、酒店、景点和航司等信息，最后由大模型生成综合点评；京东真榜作为京东点评的首 期力作，将打造"AI全网评+复购+用户盲测"测评模型，现阶段已公布真榜入围菜品名单，并在全国公 开招募10万名京东求真官，进行"买吃分离"盲测。 值得注意的是，在品酒会开始前，刘强东还现身京东旅行直播间，不仅品尝了自家的七鲜咖啡，还围 着"七鲜小厨"的围裙炒了卷饼尖椒小鱼和酱豆炒蛋两道家乡菜，展示了一把京东自营品牌的炒锅， 称"做菜是非常好的解压方式"。 至此，刘强东在三亚完成了"三连发"，实现了京东本地生活服务的全面升级，离其"超级 ...

每经评论员付克友 一把炒勺，两端平衡。刘强东的厨房哲学，似乎正在重构京东的战略逻辑。 11月17日晚，三亚。刘强东再次系上围裙，在第三场"京东品酒会"前直播炒菜。当晚，刘强东宣布京东 外卖独立App上线，他还表示，京东点评将永不商业化。 "我对渔民、对船有天然的感情，小的时候免费蛋白质基本都来自水里，夜里经常钓黄鳝，白天抓小 鱼。"刘强东边炒边与观众聊天，仿佛是老友间的家常叙旧。 这时，距离刘强东上次直播炒菜刚过去两个月。上一次，他炒的是老家宿迁名菜"黄狗猪头肉"；这一 次，他做了两道宿迁名菜，"卷饼尖椒小鱼"和"酱豆炒蛋"。 他炒的是家乡味道。 近年来，不断推广宿迁特产，似乎成了刘强东的一个标签。 在直播中，他介绍酱豆的来历，还说这是小时候冬天补充蛋白质的好东西，道出了物质匮乏年代的记 忆。他坦言，即使到世界各地，也会一直带着老家的酱豆子。 这些故事将菜品从简单的食物，提升为情感与文化的载体。消费者购买的不仅是特产，更是一份有故事 的情感连接。 显然，在商品同质化严重的今天，情感附加值成为差异化竞争的关键。刘强东的个人故事与乡土情怀， 为京东品牌注入了独特的情感元素，甚至成为京东品牌的核心内涵。 于是，个人 ...

Core Insights - Liu Qiangdong, founder and chairman of JD Group, showcased his culinary skills at the third JD wine tasting event, indicating JD's new strategic focus on the food and beverage sector, including coffee and travel [1][2] Group 1: Food and Beverage Strategy - Liu Qiangdong prepared local dishes, emphasizing JD's integration of local flavors with its manufacturing capabilities, particularly in the context of its supply chain [2] - JD is leveraging a C2M (Customer-to-Manufacturer) model to enhance its supply chain, as seen in the collaboration with GAC and CATL for the "National Good Car" initiative [2] - The introduction of "Seven Fresh Coffee" aims to differentiate itself in the coffee market by using fresh milk instead of cream, aligning with the brand's health and authenticity positioning [4] Group 2: Travel and Tourism Initiatives - The event in Sanya marked the launch of JD Travel's "Treasure City" plan, which aims to collaborate with local governments to enhance tourism experiences and offer exclusive deals to attract visitors [3] - JD's strategy includes integrating its supply chain with local tourism industries to optimize consumer experiences and stimulate travel consumption [3] Group 3: Brand and Market Positioning - JD is adopting a "super supply chain + scenario-based experience" approach to create new growth opportunities, maintaining a customer-first philosophy throughout its evolution [5] - The wine tasting events serve as a platform for direct customer engagement and brand value communication, reinforcing JD's commitment to innovative marketing strategies [5]

Core Viewpoint - JD.com is evolving into a comprehensive supply chain company, diversifying its business while maintaining a focus on supply chain optimization, as emphasized by founder Liu Qiangdong [2][3]. Financial Performance - In Q3, JD.com reported revenue of 299.1 billion RMB, a year-on-year increase of 14.9%, exceeding expectations [3]. - Core retail business remains strong, with daily revenue growth in various categories significantly outpacing industry averages, including a 18.8% increase in daily revenue for daily necessities [3]. - New business segments, including food delivery, saw a remarkable revenue growth of 214% year-on-year in Q3, indicating strong performance despite reduced subsidies [3][11]. Supply Chain Strategy - JD.com's "super supply chain" model integrates the entire supply chain process, optimizing each link from design to after-sales service, which enhances collaboration among platforms, merchants, and users [6][10]. - The company has successfully implemented this model across various sectors, including home appliances and fashion, leading to significant sales growth [6][8]. Technological Integration - JD.com has invested heavily in supply chain infrastructure, with assets reaching 174.3 billion RMB and cumulative R&D investment nearing 160 billion RMB by Q3 2025 [13]. - The integration of AI into the supply chain is a key focus, with the JoyAI model enhancing operational efficiency and customer engagement across multiple platforms [14][15]. Market Position and Competitive Advantage - JD.com distinguishes itself from competitors by focusing on supply chain efficiency rather than merely competing on traffic, establishing a robust foundation for long-term growth [13][20]. - The company's commitment to high-quality competition aligns with broader market trends, moving away from price wars towards value creation [21]. Contribution to the Economy - JD.com's super supply chain model supports the modernization of China's industrial supply chain, enhancing the competitiveness of Chinese brands globally [22]. - The company has been recognized as a leading private enterprise in China, contributing significantly to job creation and economic growth [21][22].

Core Insights - JD Group reported strong financial results for Q3 2025, with revenue reaching 299.1 billion RMB, a year-on-year increase of 14.9%, exceeding market expectations [1] - Service revenue grew by 30.8%, marking a two-year high, and active user count surpassed 700 million by October [1] - The recent "11.11" shopping event set new records with a 40% increase in the number of users placing orders and nearly 60% growth in order volume [1] Super Supply Chain - The core driver of JD's growth is its "Super Supply Chain," which enhances supply chain resilience and supports the modernization of the industrial system in China [1][20] - JD's Super Supply Chain is designed to break industry bottlenecks and facilitate a healthy industrial ecosystem [1] C2M Model - JD's C2M (Customer to Manufacturer) model allows for direct consumer insights to inform manufacturing, effectively shortening the supply chain and reducing costs [6][7] - The C2M model has evolved into a replicable methodology for creating popular products, as demonstrated by the collaboration with Lenovo on the "5070" gaming laptop [6][10] AI PC Development - JD and Lenovo are collaborating to define the AI PC category, with Lenovo's new product featuring a hybrid architecture to support both local and cloud-based AI models [15][19] - The AI PC market is projected to grow significantly, with an expected compound annual growth rate of 44% from 2024 to 2028 [18] Strategic Partnerships - JD and Lenovo signed a new strategic cooperation agreement worth 120 billion RMB for the next three years, doubling their previous sales target [19] - The partnership aims to integrate Lenovo's AI ecosystem with JD's retail operations, enhancing AI application scenarios and functionalities [19] Industry Impact - JD's Super Supply Chain capabilities are being replicated across various industries, demonstrating a commitment to technological inclusivity and support for China's manufacturing and service advantages [20]