京东-2025 年亚洲领导者会议 —— 关键要点_零售规模领先，外卖盈利能力改善；买入

5 September 2025 | 6:45PM HKT JD.com Inc. (JD): Asia Leaders Conference 2025 — Key Takeaways: Retail scale leadership and improving food delivery UE; Buy We hosted JD's Head of Investor Relations at our GS Asia Leaders Conference in Hong Kong. Key investor focuses/topics discussed include: 1) Food delivery competitive landscape, where the company noted that competition remains intense, but JD sustained steady high-value order volumes with stable GTV trends in July vs. June. The cross-sale with core retail b ...