Q2 2025 JD.Com Inc Earnings Call Transcript
Key Points
- JD.com Inc (JD) reported a solid top line growth of 22% year-on-year in the second quarter, with total revenues reaching RMB357 billion.
- JD Retail's non-GAAP operating profit increased by 38% year-on-year to RMB13.9 billion, with an operating margin of 4.5%, up from 3.9% in the same period last year.
- The company achieved a notable acceleration in user growth, with quarterly active customers increasing by over 40% year-on-year.
- JD Food Delivery business has experienced rapid growth since its launch, contributing to increased user engagement and cross-selling opportunities.
- JD.com Inc (JD) continues to expand its international presence, particularly in Europe and the Middle East, leveraging its supply chain know-how and technology.
- Non-GAAP net income attributable to ordinary shareholders decreased to RMB7.4 billion, down from RMB14.5 billion in the same period last year, due to investments in new businesses.
- The company's non-GAAP net profit margin declined to 2.1%, primarily impacted by strategic investments in the Food Delivery business.
- JD Logistics' non-GAAP operating income declined by 10.3% to RMB2 billion, as the company prioritizes capacity building initiatives.
- New Businesses revenues tripled year-on-year, but the non-GAAP operating loss widened to RMB14.8 billion, driven by the expansion of Food Delivery and Jingxi business.
- The company's last 12-month free cash flow decreased to RMB10 billion, compared to RMB56 billion in the same period last year, due to cash outflows associated with trading programs and a decline in operating income.
Hello and thank you for standing by for JD.Com second-quarter and interim 2025 earnings conference call. (Operator Instructions) Today's conference is being recorded. If you have objections, you may disconnect at this time.
I would now like to turn the meeting over to your host for today's conference, Sean Zhang, Director of Investor Relations. Please go ahead.
Thank you, operator. Good day, everyone. Welcome to JD.Com's second-quarter and interim 2025 earnings conference call. With us today are our CEO of JD.Com, Ms. Sandy Xu; and our CFO, Mr. Ian Su Shan. Sandy will kick up the call with her open remark, and Ian will discuss the financial results. After that, we'll open the call to questions for analyst. Before turning the call over to Sandy, let me quickly cover the Safe Harbor.
Please be reminded that during this call, our comments and responses to your questions reflect management's view as of today only and will include forward-looking statements. Please refer to our latest Safe
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