JD.com (JD; HKEX: 9618) announced its financial results for the fourth quarter and full year ending December 31, 2024. The company reported a 13.4% year-on-year increase in net revenue for Q4, reaching 347 billion yuan. Net profit attributable to common shareholders, excluding non-GAAP measures, rose by 34.2% to 11.3 billion yuan. For the entire year, JD.com's net revenue grew by 6.8% to 1.1588 trillion yuan, with net profit increasing from 35.2 billion yuan in 2023 to 47.8 billion yuan in 2024.
Following the earnings release, JD.com's CEO Xu Ran and CFO Shan Su participated in an analyst call to discuss the results and address questions. During the call, analysts inquired about the growth drivers for JD Retail over the next two years, investments in the supermarket business, and the impact of national policies on consumer electronics sales.
CEO Xu Ran highlighted JD.com's focus on long-term investments in experience, cost, and efficiency as key growth drivers. The company aims to leverage its supply chain efficiency to support national consumption efforts. JD.com is also making strides in non-electronic categories, enhancing user experience, and platform ecosystem development, which are expected to drive retail growth.
For daily necessities, JD.com is strengthening team capabilities and user awareness, with expectations for continued growth. The company has seen double-digit growth in quarterly purchasing users and shopping frequency, driven by improved user experience. JD.com plans to enhance user traffic management to maintain healthy growth in user numbers and activity.
In the supermarket category, JD.com is improving supply chain capabilities to offer high-quality products across various price ranges. The company is also reforming its warehouse network and fulfillment efficiency to reduce costs and improve delivery speed, aiming to capture more market share in the large supermarket space.
Regarding consumer electronics, JD.com observed a rebound in smartphone demand, partly due to the "trade-in" policy. While home appliance sales faced short-term impacts, the company expects sales to accelerate with the onset of the home improvement season. JD.com plans to enhance trade-in services and leverage its supply chain to meet the growing demand for upgrades.
