Aug 26, 2021|
JD News Roundup Vol. 18: Q2 2021 Earnings, Gen Z Insights and More
Welcome to volume 18 (August 16-23) of our 2021 weekly digest. Here we consolidate a selection of JD news and give context on why it matters. If you have any questions or topics you are hoping we will explore, please email firstname.lastname@example.org.
JD announces Q2 2021 Earnings
On August 23, JD announced its earnings results for Q2 2021, with key figures including revenue of RMB253.8 billion yuan; service revenue of RMB 34.1 billion yuan, and user base growth of 27.4%, bringing JD.com’s annual activer users to 531.9 million.
Speaking during the call, JD Retail CEO Xu Lei highlighted various achievements. During this year’s 618 Grand Promotion, over 236 brands achieved sales of over RMB 100 million; net proceeds of RMB 23 billion yuan from JD Logistics‘ IPO on the Hong Kong Stock Exchange; exciting partnerships with BVLGARI, Guerlain, benefit and more; and omni-channel expansion.
Xu believes omni-channel expansion will help “break the glass ceiling for JD’s long-term growth,” he said during the call. “I’d like to reiterate that only JD’s business model has the ability to truly land the omni-channel plan. This is because the strategy is founded on JD’s supply chain capabilities, which we have built and honed over the past 18 years.”
JD Logistics (2618.HK) also announced its 2021 interim results on August 23, with the company’s revenue increasing by 53.7% from 31.5 billion for the six months ended June 30, 2020 to RMB 48.5 billion for the six months ended June 30, 2021. Additionally, revenue from external customers of JD Logistics for the first half of 2021 was RMB26.5 billion, accounting for 54.7% of JD Logistics’ total revenue, showing that more and more partners are leveraging JD Logistics’ infrastructure to improve their operational efficiency.
Monthly user growth rate doubles for JD Health’s Family Doctor services
On the first anniversary of JD Health’s Family Doctor services on August 18, the company showcased two impressive achievements: one being active users accounting for 87% of the total number of service users; and the other being a 220% average monthly user growth rate.
On the occasion of the celebration, JD Health also inaugurated a public welfare program to help Alzheimer patients in partnership with the China Aging Development Foundation, a national charity organization.
China’s Gen Z to fuel auto boom in lower-tier cities, according to new JD report
Over the next decade, China’s automotive market will see a boom in third- to fourth-tier cities, with Gen Z being the main consumption force, according to the 2021 Automotive Consumption Report of Gen-Z published by JD Big Data Research Institute on August 18. Additionally, online sales of new energy vehicles on JD.com increased by 6.7 times YOY, and another 4.3 times in the first half of 2021 compared with the same period in 2020.