Aug 3, 2022|
JD.com Advances to 46th on 2022 Fortune Global 500
by Vivian Yang
JD.com has ranked 46th on the 2022 FORTUNE Global 500 list released on August 3rd, moving up 13 places from last year and making its debut among the Top 50 biggest listed companies in the world.
JD.com reported net revenue of RMB951.6 billion (about US$149.3 billion) in 2021, an increase of 27.6% from 2020. This strengthened its position on the revenues-based annual ranking and maintained its upward positional trajectory since it was first included on the list in 2016 at position 366.
In the past six years, JD.com has transformed from an e-commerce business into a supply chain-based technology and service provider. It also emerged resiliently from the COVID disruptions with a strong sense of responsibility to create not only business and industrial values, but also social values with its infrastructure and digital know-how, contributing to society’s higher efficiency in production, circulation, consumption, services and more. In doing so, JD.com has been devoted to the knitting and fusion of three networks with partners across a variety of industries that are conducive to the development of the real economy.
First is the Network of Products. Today, JD.com is running a pool of over 10 million self-operated product SKUs while also managing to cut its inventory turnover days close to 30. In order to create a premier shopping experience for JD’s over 580 million active users, enabling them to buy whatever they want and whenever and wherever they want it, JD has opened its products’ supply chains to millions of brick-and-mortar stores in over 300 cities across China and partnered with more than 150,000 offline stores for on-demand delivery services—in addition to JD’s own online and offline stores. Take Walmart for example: In the past two years, all of Walmart’s supermarkets in China have set up their online shopping portals on JD.com and adopted crowdsourced delivery services powered by Dada Group, a JD-backed on-demand delivery platform. These efforts assisted the established retailer in achieving double-digit YoY growth in terms of both overall fulfillment efficiency and the average work efficiency of goods pickers.
JD’s omnichannel retail in collaboration with Dada’s crowdsourced on-demand delivery service
Second is the Network of Warehouses that covers almost the entire Chinese mainland. To date, JD Logistics is operating more than 1,400 warehouses with a combined floor area of over 25 million square meters, about 50,000 transportation lines, and six highly synchronized logistics networks including cold-chain, cross-border, last-mile delivery and more. In China, consumers can expect the same or next-day delivery service from JD.com regardless of where they live – in large cities or remote areas including 84 percent of towns and villages so far. In the meantime, JD is gearing up on building its international logistics network. Aiming to “sell and source goods in the whole world”, it currently runs close to 80 bonded warehouses and overseas warehouses, and its network spans nearly 230 countries and regions.
JD Logsitics’ highly automated warehouse
Third is the Network of Clouds, which has laid the technological foundation for the other two networks. It is estimated that over the last five years, JD has accumulatively invested nearly RMB 80 billion yuan on basic science and technology research and development. Under the brand of JD Cloud, numerous R&D achievements have been applied to real-world industries, providing digitally intelligent solutions in a variety of fields, including retail, logistics, supply chain, city planning and more. JD Cloud not only supports JD.com’s daily online operations including its retail, logistics healthcare arms and more, it has also successfully handled massive traffic surges in major events like the JD618 and Singles Day shopping festivals, as well as 69.1 billion interactions in JD’s App during this year’s Spring Festival Gala Show on national TV. Externally, it is providing services for more than 80 cities, 888 financial institutions, 1,821 large-scale enterprises and more than 1.95 million SMEs.
JD Cloud’s data center