Revenue Reaches CNY 745.8 Bn with CNY 50 Bn in Profits: JD.com Reports 2020 Financials

JD.com announced a better-than-expected financial for 4Q and 2020 on March 11, 2021. 

The e-commerce giant stated that net revenue for the final three months of the year jumped 31% to CNY 224.3 billion, beating the analyst consensus of CNY 220.3 billion. Net income attributable to ordinary shareholders rose to CNY 24.33 billion, from a mere CNY 3.63 billion, while the profit of CNY 1.49 per American depository share beat expectations.

As of December 31, 2020, the number of active customer accounts reached 471.9 million, with a year-on-year growth of 30.3%, and a net increase of nearly 110 million for the whole year. 

Richard Liu, Chief Executive of the firm said the company was able to accelerate revenue and user growth "despite the ongoing market challenges."

"During this quarter, JD continued its strategic transformation into a supply chain-based technology and service company with increasingly diverse sources of revenues," he said, adding that with strong momentum into 2021 the company would continue to invest in "innovative, high potential businesses."

According to the financial report, in 2020, its economic service revenue will reach CNY 93.9 billion, up 42% year-on-year. In the past seven years, its net service income has had a compound annual growth rate of 70%.

In addition, as for 4Q 2020, JD.com's revenue reached CNY 224.3 billion, up 31.4% year-on-year and beating market expectations of CNY 219.5 billion. 

With its healthcare subsidiary going public in December, JD.com is now eyeing a listing for its logistics arm in Hong Kong.