JD.com(JD) announced its fourth quarter and full-year results for 2023.
On March 6, JD.com(JD) announced its fourth quarter and full-year results for 2023. The financial report shows that JD.com's total revenue in 2023 will be 1.0847 billion yuan, a year-on-year increase of 3.7%. Revenue in the fourth quarter of last year was 306.1 billion yuan, a year-on-year increase of 3.6%. Net profit attributable to ordinary shareholders in the fourth quarter of last year was 3.4 billion yuan, a year-on-year increase of 33%, and adjusted net profit was 8.4 billion yuan, a year-on-year increase of 9%.
In terms of business segments, JD's total revenue is mainly composed of four major parts: retail, logistics, Dada, and new businesses. Among them, the total revenue of the retail industry, which is the core business, was 945.343 billion yuan last year, a year-on-year increase of 1.7%. The logistics business experienced significant growth last year, with total annual revenue of 166.6 billion yuan, a year-on-year increase of 21.3%.
"Throughout last year, JD has been accelerating the construction of platform ecology and low-price mentality. The current overall performance is in line with expectations." JD.com CEO Xu Ran summarized the performance of the past year and said that this year will continue to focus on promoting price competitiveness and platform Ecological construction, with confidence to further gain more market share.
Facing the general growth crisis in China's Internet industry, Internet giants are looking overseas for new growth points. JD has also made efforts to expand overseas. However, faced with the layout of competitors such as Pinduoduo and Alibaba in overseas markets, JD's road to overseas expansion has not been smooth. Xu Ran said that JD's unique business model makes its internationalization strategy quite different from other platforms. JD must use its competitive advantages to develop its international business. At present, JD is still in the early stages of going overseas and will vigorously optimize its supply chain to help global users and provide more high-quality goods and services.
In terms of overseas logistics, since entering the accelerated construction period of overseas warehouses in 2020, JD Logistics currently has nearly 90 overseas warehouses, bonded warehouses, and direct mail warehouses around the world. The total cross-border network warehousing area has exceeded 900,000 square meters, and local express delivery has the largest "One-day delivery" can be achieved quickly. Ochama, a European omni-channel retail brand owned by JD, has expanded door-to-door delivery services to 24 European countries and launched cross-border small package products. In terms of the introduction of cross-border business products, JD has also established three direct procurement centers in Japan, South Korea and Europe, and continues to improve its international supply chain capabilities by building JD's self-operated buyer network around the world.