JD reports revenue rises in Q1 2022

Chinese e-commerce giant JD reported on Tuesday night that its net revenues during the first quarter of this year reached 239.7 billion yuan ($35.52 billion), an increase of 18 percent year-on-year.

However, the net loss attributable to ordinary shareholders in the first quarter stood at 3 billion yuan, compared with a net income of 3.6 billion yuan for the same period last year, partly due to continuous capital input in infrastructure, research and development and employees’ salaries and welfare.

Its net service revenues during the January-March period rose 26.3 percent year-on-year to 35.2 billion yuan. Annual active customer accounts increased by 16.2 percent to 580.5 million in the twelve months which ended March 31, notably higher than the 499.8 million in the twelve months which ended March 31 in 2021.

As of March 31, JD Logistics, the logistics arm of JD, operated approximately 1,400 warehouses, covering an aggregated gross floor area of over 25 million square meters.

“JD’s robust supply chain capabilities and technology-driven operating efficiency underpinned our solid performance during the quarter as we continued to deliver healthy growth amidst a challenging external environment,” said Xu Lei, CEO of JD, adding they are actively leveraging core competences to support local communities and enterprises in regions affected by the latest resurgence of domestic COVID-19 cases.

In support of the combat against COVID-19 in Shanghai, the company has transported over 80,000 metric tons of essential daily items since the beginning of this month, including medicine and maternal products, and has dispatched over 4,000 couriers to support local supply operations.

Additionally, over 100 JD autonomous vehicles have been deployed to Shanghai to facilitate last-mile deliveries of customer orders and protective equipment to makeshift hospitals, communities and delivery stations during the citywide lockdown.

Author: Fan Feifei, Chinadaily

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