Financial Performance - JD.com's net revenues showed solid growth momentum, with a 2019-2024 Compound Annual Growth Rate (CAGR) of 15%[9] - In Q1 2025, net revenues reached RMB 301.1 billion, representing a 15.8% year-over-year increase[9] - Net product revenues in Q1 2025 were RMB 242.3 billion, up 16.2% year-over-year, with a 2019-2024 CAGR of 13%[11] - Net service revenues in Q1 2025 amounted to RMB 58.8 billion, a 14.0% year-over-year increase, demonstrating a 2019-2024 CAGR of 28%[11] Revenue Breakdown - Electronics and home appliances revenues exhibited a 17.1% year-over-year growth, while general merchandise revenues grew by 14.9%[15] - Marketplace and marketing revenues increased by 15.7% year-over-year, and logistics and other service revenues grew by 13.0%[13] Profitability and Cash Flow - JD Retail's operating income for Q1 2025 was RMB 12.8 billion, representing an operating margin of 4.9%[17,20] - The company's Non-GAAP net profit for Q1 2025 was RMB 12.8 billion, with a Non-GAAP net margin of 4.2%[21] - Adjusted operating cash flow for the trailing twelve months (TTM) reached RMB 58.0 billion[25] - Free cash flow for the TTM period was RMB 43.7 billion[26] Segment Performance - JD Retail reported net revenues of RMB 263.8 billion and an operating income of RMB 12.8 billion in Q1 2025[17] - JD Logistics' net revenues were RMB 47.0 billion, with an operating income of RMB 0.1 billion in Q1 2025[17] - New Businesses recorded net revenues of RMB 9.3 billion and an operating loss of RMB 1.3 billion in Q1 2025[17]
JD(JD) - 2025 Q1 - Earnings Call Presentation