According to Refinitiv’s IBES data, for the quarter ended March 31, in terms of revenue, the net income of China’s largest e-commerce company JD.com increased by 39% to RMB 203.2 billion (US$31.57 billion), a high This is RMB 191.83 billion expected by analysts on average.
Sales of this product division (including online retail) increased by nearly 35% during the quarter, reaching 175.28 billion yuan. Excluding special items, JD.com announced a profit per share of American Depository Receipts (ADS) of RMB 2.47, while analysts expected RMB 2.26. Popular brands such as Starbucks (NASDAQ: SBUX) and sports retailer Decathlon, as well as luxury fashion brands such as Marni and John Lobb, opened on JD’s e-commerce platform this quarter The flagship store.
During and after the pandemic, demand is strong. JD.com’s profits increase after Alibaba Group Holding Ltd (Alibaba Group Holding Ltd) came under major regulatory crackdowns.
In April this year, the Chinese anti-monopoly authorities imposed a record fine of US$2.75 billion on the e-commerce giant because the company adopted a “choose one from two” approach.
The platform punishes merchants for listing on multiple sites. product. Despite how the fine was directed against competitors, the uncertain regulatory environment has already hit investor sentiment across China’s Internet industry.
Since the announcement of the fines on Alibaba, JD’s US-listed shares have fallen by about 13%. While fined Alibaba, JD.com withdrew its IPO application for JD Digital, a financial technology subsidiary of the Shanghai Stock Exchange. However, the company’s logistics department plans to raise up to US$3.4 billion in the upcoming Hong Kong IPO.