Chinese e-commerce businesses grow steadily despite the challenging industry environment
JD.com Inc (Chinese: 京东集团, HK:9618) released its financial results for the third quarter of 2022 on 18 November.
The data shows that in Q3 2022, JD.com's net revenue was CNY 243.5 billion (USD 34.2 billion). Net service revenue was CNY 46.5 billion, up 42.2% year-on-year. JD Logistic external customer revenue grew 67.8% compared to the same period in the previous year, accounting for nearly 70% of total logistics revenue.
Due to accurate forecasting of economic and industry trends, JD.com has continued to focus on its core business, strengthen the quality of operation and management, and achieve high-quality growth.
As of 30 September 2022, JD.com's supply chain infrastructure assets reached CNY 126.7 billion, up 65% year-on-year. The number of annual active users reached 588.3 million. Indexes such as DAU (Daily Activated Users), User Shopping Frequency and ARPU (Average Revenue Per User) continued to grow rapidly.
By 30 September, JD.com had nearly 500,000 employees, continuing to expand the scale of high-quality employment.
Lei Xu, CEO of JD.com, said, "JD.com's solid and mature supply chain infrastructure, technological capabilities, and the social responsibility it bears will continue to play an important role in the future."
The domestic rivals of the firm include ALIBABA (Chinese: 阿里巴巴, HK:9988) and PDD (Chinese: 拼多多, NASDAQ:PDD). JD.com shares closed at HKD 206.6 apiece today, with a market cap of HKD 645.31 billion.