【JD.com Performance】JD Logistics' net profit increased by 7% last year; JD Health earned 29% more, with gross profit margin rising to 24.8%; JD Industrial's profits more than doubled

JD.com’s three listed companies have announced their earnings, with JD Logistics (02618) recording a profit of nearly 6.7 billion RMB, the highest among the three. JD Health (06618) followed with a net profit of nearly 5.4 billion RMB; JD Industrial (07618) reported an annual profit of 2.314 billion RMB, more than doubling year-on-year.

JD Logistics’ revenue increased by 18.8% last year

JD Logistics’ net profit last year was 6.65 billion RMB, up 7.3% year-on-year, with earnings per share of 1.06 RMB; adjusted profit decreased by 2.6% year-on-year to 7.71 billion RMB. No final dividend was paid. During the period, revenue reached 217.147 billion RMB, an 18.8% increase year-on-year. Of this, revenue from external customers was 136.8 billion RMB, up 7.1% year-on-year.

As of the end of last year, JD Logistics operated over 1,600 warehouses, with a total management area of over 34 million square meters. Revenue from external integrated supply chain customers was 35.9 billion RMB, an 11.2% increase; the number of external integrated supply chain customers reached 91,100, up 13%.

JD Health’s adjusted profit increased by 36%

JD Health’s net profit last year increased by 29.2% year-on-year to 5.375 billion RMB, with adjusted profit up 36.3% to 6.53 billion RMB, and a net profit margin of 8.9%; no final dividend was paid.

Benefiting from increased active users, additional user purchases, higher penetration of online sales of pharmaceutical and health products, and product diversification, JD Health’s revenue grew by 26.3% year-on-year to 73.44 billion RMB, with four consecutive quarters of growth exceeding 20%. Over the past 12 months, the number of active users reached 213 million.

Due to changes in revenue composition, as of the end of last year, JD Health’s gross profit margin was 24.8%, an increase of 1.9 percentage points year-on-year; operating profit rose by 158.5% to 3.8 billion RMB.

JD Health stated that it has achieved the deployment of artificial intelligence (AI) in more medical service scenarios, targeting users, doctors, and hospitals, launching products such as “AI JD Doctor” and “JD Zhuoyi.” Among these, the “AI JD Doctor” launched last year for consumers includes over ten types of professional intelligent entities such as AI doctors, AI pharmacists, and AI nutritionists, as well as over a thousand expert doctors from top-tier hospitals.

The AI product “JD Zhuoyi” developed for hospitals has been implemented at hospitals such as the First Affiliated Hospital of Wenzhou Medical University, serving over 5 million patients. JD Health said it will continue to strengthen supply chain and self-operated barriers, deepen strategic cooperation with leading pharmaceutical and health brands, steadily expand market share, promote the upgrade of the “medical - testing - diagnosis - pharmacy” closed loop, and deeply empower healthcare scenarios with AI.

JD Industrial’s gross profit margin rises to 17.4%

JD Industrial’s annual profit was 2.314 billion RMB, more than doubling year-on-year; basic earnings per share were 1.12 RMB, with no dividend paid. Adjusted profit was 1.131 billion RMB, up 5.34% year-on-year; operating profit was 1.012 billion RMB, up 1.79%.

During the period, revenue reached 23.952 billion RMB, an increase of 17.42% year-on-year, mainly driven by continuous growth in transaction volume. Benefiting from improved procurement efficiency and optimized supplier networks, gross profit margin increased by 1.2 percentage points to 17.4%.

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