![]() The net profit attributable to ordinary shareholders was CNY 5.6 billion, a year-on-year increase of 80.1%. Revenue reached CNY 174.2 billion, a year-on-year increase of 29.2%. In the third quarter of 2020, JD.com delivered a satisfactory transcript. As a retailer, JD.com is improving its operational efficiency, defeating traditional retail ![]() Unlike Alibaba, which extends its tentacles to finance, cloud computing and other industries, forming a cross-sector monopoly, JD.com plays a more low-key role as a 'retailer.' However, the company's fintech arm JD Digits is growing fast, too - valued at USD 28.5 billion, it applied for a Star Market IPO in 2020. After the news, the Internet giants' shares plummeted.įrom another perspective, it happens to be a good buying point for JD.com. On December 30, JD.com, Tmall, and Vipshop ( VIPS) were fined CNY 500,000 for issues such as false promotions and 'induced transactions' that consumers reported with emphasis before and after the 'Double Eleven' shopping festival. In the regulator's scope now are Taobao and Tmall, which have practiced the 'picking one from two' strategy, which prevents their merchants from finding a space on JD.com ( NASDAQ: JD), Pinduoduo ( PDD) and the like. JD.Com had a net loss of CNY3.6 billion (USD565.6 million) in 2021, versus a net profit of CNY49.4 billion (USD7.8 billion) the year before.On December 24, the State Administration for Market Regulation announced an investigation into Alibaba's ( BABA) monopolistic conduct. He also said that the “traffic-driven growth model driven by subsidies” of China’s internet sector “is being replaced by the use of quality and operating efficiency-oriented model.” “We believe this is a sector that requires a long-term commitment over the next five to 10 years in order to build up supply chain infrastructure and gain consumer mind share,” JD.Com President Xu Lei said on the firm’s earnings conference call, adding that the “inflated scale expansion driven by short-term marketing expenses are not sustainable.” JD.Com’s total income was CNY951.6 billion (USD150 billion) in the 12 months, up 27.6 percent.Īlthough Jingxi continued to lose money, it brought about 70 million new users to JD.Com in lower-tier cities, making up about 70 percent of the firm’s new users last year. Revenue at JD.Com’s new businesses, such as Jingxi, jumped 48 percent to CNY26 billion last year, according to the Beijing-based parent company’s earnings report released on March 10. Jingxi Pinpin, a platform under Jingxi, has expanded to 80 cities across China since it started in January last year, but gradually withdrew from the provinces of Fujian, Gansu, Guizhou, and Jilin in the second half of 2021 because of intense competition. The cuts will fall mainly in its Jingxi Pinpin business, and some workers will be moved to other businesses, the report said. Jingxi will let go from 10 percent to 15 percent of its staff to focus on building supply chain capacity in lower-tier markets, Sina Tech reported yesterday, citing an insider at the parent company. ![]() ![]() (Yicai Global) March 22 - Chinese e-commerce giant JD.Com’s community group-buying platform Jingxi, launched in 2019 to compete with Pinduoduo, reportedly plans to lay off up to 15 percent of its workforce.
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