Core Viewpoint - JD.com has successfully completed a significant share repurchase program, reflecting its commitment to enhancing shareholder value through strategic capital management [1][2][3]. Share Repurchase Details - The company repurchased approximately 183.2 million Class A ordinary shares, equivalent to 91.6 million American depositary shares (ADSs), for a total of about US$3.0 billion in 2025 [2]. - The repurchased shares represent approximately 6.3% of the total ordinary shares outstanding as of December 31, 2024 [2]. - All repurchased shares have been cancelled as of the announcement date, indicating a complete execution of this portion of the repurchase program [3]. - The share repurchase program, initiated in August 2024, has a total authorization of up to US$5.0 billion and is effective through August 2027, with approximately US$2.0 billion remaining as of December 31, 2025 [3]. Company Overview - JD.com is recognized as a leading supply chain-based technology and service provider, focusing on enhancing retail infrastructure to meet consumer demands [4]. - The company offers a Retail as a Service model, which allows partners and brands to leverage its technology and infrastructure, promoting productivity and innovation across various industries [4].