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JD.com Reports Robust Start in 2025 with Impressive Revenue and Profit Growth

May 13, 2025

Highlights

  • Total revenues: RMB 301 billion (+16% YoY)
  • Non-GAAP net profit: RMB 12.8 billion (+43% YoY)
  • Net margin: 4.2% (+82 BPs)
  • Electronics and home appliances revenue growth: 17% YoY
  • General merchandise revenue growth: 15% YoY
  • Service revenues growth: 14% YoY
  • Marketplace and marketing revenues: +16% YoY
  • Share buyback: Total US $1.5 billion year-to-date
  • Annual cash dividend: US $1.44 billion

JD.com, one of China’s leading e-commerce giants, has kicked off 2025 with an impressive performance, showcasing both robust revenue growth and significant profitability improvements. The company's comprehensive earnings report underscores its strategic abilities to capture market growth and improve operational efficiency.

Strong Revenue Growth Across Key Segments

JD.com posted a 16% year-on-year increase in total revenues, reaching RMB 301 billion. This impressive growth is largely attributed to strong performances in its major business lines, including electronics and home appliances, which saw a 17% increase. Concurrently, the general merchandise category, pivotal to JD's long-term strategy, reported a 15% increase, underlining the company's capability in scaling its diverse product range. The service sector, too, displayed vigor with a 14% uplift, driven by notable gains in marketplace and marketing revenues, up 16%.

Profitability Improvements Evident

The company’s focus on enhancing operational efficiencies has reflected favorably in its profitability metrics. JD.com’s non-GAAP net profit soared by 43% year-over-year, amounting to RMB 12.8 billion, with a net margin expansion reaching 4.2%. This speaks volumes about JD.com’s adeptness at cost management and achieving higher operational leverage.

Strategic Initiatives and Shareholder Returns

As part of its strategic initiatives to strengthen user engagement and enhance logistics capabilities, JD.com has been active in fostering its supply chain and tapping into untapped markets. The announcement of its significant steps forward in the fast-growing food delivery sector exemplifies its adaptability and foresight in embracing emerging market trends.

JD.com remains steadfast in returning capital to its shareholders, having repurchased shares worth US $1.5 billion this year, complemented by an annual cash dividend payout of US $1.44 billion. These measures underscore the company's enduring commitment to shareholder value, even as it continues to invest in growth opportunities.

Overall, JD.com's strong start to the year and its momentum in key segments reinforce its position as a formidable force in China's retail landscape, reflecting a solid blend of strategic growth and diligent financial management.