JD News Roundup Vol. 4 May 6-22, 2020

IN OUR BI-WEEKLY DIGEST, WE CONSOLIDATE A SELECTION OF RECENT NEWS AND PROVIDE SOME CONTEXT ON WHY IT MATTERS.

JD News Roundup Vol. 4 May 6-22, 2020

by Ella Kidron

Company updates

JD revamps mission: Ahead of its 17th birthday and timed with the company’s May 19th (519) Employee Appreciation Day, JD has updated its mission statement: Powered by Technology for a More Productive and Sustainable World. Chairman and CEO Richard Liu announced the new mission in a letter (in Chinese) to all employees. The new mission highlights three words: Technology – representing the company’s goal as a “dream chaser” to use technology to create value, increase efficiency and enhance experience, Productivity – serving as JD’s “yardstick” for the success of its business model – whether or not it has improved productivity of the industry and society and created real value, and finally Sustainability – reflecting JD’s desire as partners to be of service to all key stakeholders, from partners, employees, and the greater society, and to achieve a balance of people, planet and profit. A courtesy English translation of the letter is available here: https://jdcorporateblog.com/jd-chairman-ceo-richard-liu-our-mission-our-future/

Liu also took the company on a trip down memory lane, retelling its history from a single counter in Zhongguancun to today. Get the full story

Decorations for “519” Employee Appreciation Day at JD HQ in Beijing

To mark Employee Appreciation Day, we also took the time to tell a few stories of veteran JDers who have made a huge impact on the company, and helped it get to where it is today. Beyond just telling personal stories, these pieces shine a light on different aspects of today’s JD:

 

Q1 2020 Earnings

On May 15th, JD released its Q1 earnings results. The company saw strong performance across key metrics, including net revenue, net service revenue and annual active customer accounts. Revenues from sales of general merchandise products (of which fresh food and fast-moving consumer goods play a significant role) were RMB 52.5 billion (US$7.4 billion) for the first quarter of 2020, an increase of 38.2% compared with the first quarter of 2019. From January to March 2020, sales of chicken and eggs; vegetables; pork, beef and lamb; and grain, oil and condiments on JD increased 301%, 207%, 116% and 79% respectively.

In line with results, we took a deep dive into what it takes to win in China’s grocery market:  https://jdcorporateblog.com/in-depth-report-winning-the-appetites-of-chinese-consumers/

An infographic of the earnings results is here: https://jdcorporateblog.com/jd-com-announces-first-quarter-2020-results/

 

Business specific

JD PLUS, the company’s premium membership program, partnered with Tencent’s QQ Music to offer a bundle membership enabling members who purchase a membership package via either JD PLUS to QQ Music to enjoy reciprocal VIP benefits. This is a further extension of JD’s premium membership, which back in 2016, was the very first of its kind in China. Get the full story

JD’s recent Foodie’s Carnival shopping event saw 27,000 tons of fresh products sold in just over one week. The results indicate the continued improvement of consumption as the epidemic situation has eased; people are not only buying daily necessities but also looking for high quality produce. Of interest, Wuhan ranked fifth following first tier cities Beijing, Shanghai, Guangzhou and Shenzhen as the top cities to purchase imported fresh products. Get the full story

This week at JD in photos: https://jdcorporateblog.com/photo-gallery-this-week-at-jd-may-18-22/

 

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