JD.com Announces 2020 Second Quarter and Interim Financial Results

BEIJING (STL.News) JD.com, Inc. (NASDAQ: JD and HKEX: 9618), China’s leading technology driven e-commerce company transforming to become the leading supply chain-based technology and service provider, today announced its unaudited financial results for the three months and six months ended June 30, 2020.

JD.com Second Quarter 2020 Highlights

  • Net revenues for the second quarter of 2020 were RMB201.1 billion (US$1 28.5 billion), an increase of 33.8% from the second quarter of 2019.  Net revenues from the sales of general merchandise products for the second quarter of 2020 were RMB64.0 billion (US$9.1 billion), an increase of 45.4% from the second quarter of 2019.  Net service revenues for the second quarter of 2020 were RMB22.9 billion (US$3.2 billion), an increase of 36.4% from the second quarter of 2019.
  • Income from operations for the second quarter of 2020 was RMB5.0 billion (US$0.7 billion), compared to RMB2.3 billion for the same period last year.  Non-GAAP2 income from operations for the second quarter of 2020 was RMB5.6 billion (US$0.8 billion) with a non-GAAP operating margin of 2.8%, as compared to RMB3.2 billion for the second quarter of 2019 with a non-GAAP operating margin of 2.1%.
  • Net income attributable to ordinary shareholders for the second quarter of 2020 was RMB16.4 billion (US$2.3 billion), compared to RMB0.6 billion for the same period last year.  Non-GAAP net income attributable to ordinary shareholders for the second quarter of 2020 increased by 66.1% to RMB5.9 billion (US$0.8 billion) from RMB3.6 billion for the same period last year.
  • Diluted net income per ADS for the second quarter of 2020 was RMB10.47 (US$1.48), compared to RMB0.36 for the second quarter of 2019.  Non-GAAP diluted net income per ADS for the second quarter of 2020 was RMB3.51 (US$0.50), compared to RMB2.30 for the same period last year.
  • Annual active customer accounts increased by 29.9% to 417.4 million in the twelve months ended June 30, 2020 from 321.3 million in the twelve months ended June 30, 2019.  Mobile daily active users4 in June 2020 increased by 40% as compared to June 2019.

“Since the COVID-19 outbreak, JD has steadfastly leveraged our distinctive supply chain and technology capabilities to contribute to society and ensure the steady supply and undisrupted delivery of daily necessities to consumers, while helping to create jobs within our ecosystem and support business partners amidst the dynamic economic environment,” said Richard Liu, Chairman and Chief Executive Officer of JD.com.  “I’m grateful for the efforts of JD’s employees and business partners in driving another solid quarter of accelerated revenue growth, as our extensive product offerings and superior services continue to attract large numbers of new users.”

“Our scale advantages and cost efficiency enabled us to provide attractive prices during our June 18 sales promotions, benefiting consumers and society as China’s economy emerges from the difficult pandemic period, and helped drive solid top and bottom line results for the second quarter,” said Sandy Xu, Chief Financial Officer of JD.com.  “Our strong financial and operating performance form the basis for JD’s continued investment in innovative supply chain capabilities and a superior customer experience to support our long term growth.”

NOTE: this is NOT the complete release.

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