May 22, 2020|
JD News Roundup Vol. 4
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:
- Ten Years, from a Small City, Forging JD’s Best Customer Service – JD has invested RMB 1.5 billion yuan in customer service in the past 10 years. Here we look at the growth of customer service from 200 in one small city, to 15,000 nationwide
- The Best Testimony: JD’s Very First Employee Zhang Qi – Zhang Qi joined JD well before it was called JD, back when it was an offline kiosk in Zhongguancun. In Zhang Qi’s story is the beginnings of what we know now as JD DNA – commitment to authenticity, quality and customer service
- Hail to the Female Commander-in-Chief – In January, Guangle Ren was given the near impossible task of managing JD’s central China logistics operations, which include the COVID-19 epidemic epicenter of Wuhan.
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/
Aug 3, 2023|
JD.com Ranks 52nd on the 2023 Fortune Global 500
by Vivian Yang
Securing a position on the Fortune Global 500 list for the eighth consecutive year, JD.com proudly announces its rank of No.52 in the newly released 2023 edition, released on August 2, 2023. The annual ranking recognizes the largest companies measured by their revenues. In 2022, JD.com achieved a 9.9 percent year-over-year growth, reaching full-year net revenues of RMB 1.0462 trillion. This notable achievement also marked the first time JD.com surpassed the milestone of RMB 1 trillion yuan.
JD.com’s inclusion on the Fortune Global 500 list since 2016 demonstrates eight years of significant expansion and progress, as illustrated by the following figures:
- Created 45,000 new jobs.
- Expanded its customer base to nearly 600 million.
- Increased warehouses from 214 to over 1,500.
- Amplified the output value of real economies by nearly 4.8 times.
- Successfully reduced the fulfillment expense rate by over 20%.
These numbers reflect JD.com’s relentless pursuit of technological and service innovation in the supply chain sector. Leveraging these capabilities JD.com has bolstered its portfolio of businesses, which spans across e-commerce, logistics, technology, health, industrials, property management, insurance, and more. Furthermore, these capabilities have been instrumental in merging digital and physical economies across various sectors, generating societal value and benefiting a wider demographic.
Supporting Employment and Consumption
By harnessing its robust supply chain capabilities, JD.com is serving millions of merchants both online and offline. The company’s mission is to augment merchants’ operational efficiency and cost-effectiveness while offering consumers a superior shopping experience defined by variety, speed, quality, and value.
JD.com is committed to the welfare of its over 560,000-strong workforce and has invested nearly RMB 50 billion yuan in initiatives such as housing funds, relief, and family support for staff. In May, JD.com announced a significant investment of RMB 6 billion for the “JD Youth City” project, , offering nearly 4,000 furnished apartments and leisure facilities for employees and interns embarking on their careers. Moreover, JD’s extensive supply chain system is estimated to have created approximately 25 million stable jobs across a wide range of industries.
Promoting Digitalization and Rural Revitalization
In the realm of technological innovation, JD.com has invested over RMB 100 billion yuan in research and development over the past six years. The company’s focus has been on enhancing supply chain efficiency and sharing infrastructure and technologies with traditional enterprises to usher them into the digital age. For instance, JD’s consumer-to-manufacturer (C2M) platform has enabled thousands of brands to decrease product demand research time by nearly 80 percent and reduce new product release cycles by nearly 70 percent.
Moreover, JD’s supply chain infrastructure and digital technologies have brought about positive changes in rural areas. The “March to Rich” plan, launched in October 2020, has generated over RMB 1 trillion in output value in rural regions over the past three years, thereby facilitating efficient sales of agricultural products for farmers while empowering them with sustainable development models.
JD.com’s “35711 Vision”
On its 20th anniversary in June, JD.com unveiled the “35711 Vision”, an ambitious roadmap for the next two decades. The vision outlines goals to establish three companies with over RMB 1 trillion in revenue and RMB 70 billion in net profits, positioning five JD companies on the Fortune Global 500, and seeing seven startups become publicly listed companies and attain a market value of RMB 100 billion. JD.com also plans to contribute RMB 100 billion in taxes and create over one million jobs.
Beyond financial milestones. The company aims to deliver substantial societal value, including providing over RMB 3 trillion in benefits to front-line employees, increasing the income of 100 million farmers, aiding 60 million small and medium-sized enterprises in their digital transformation, and establishing a global supply chain infrastructure that covers economies that represent 80% of the world’s economic volume., JD.com is also deeply committed to achieving carbon neutrality, further underscoring its dedication to environmental sustainability.
Photo Gallery: This Week at JD (May 18-22)
