Retailing, Franchising, and Consumerism Business Intelligence in China

JD Net Revenue Up 29.2% In Q3 2020

JD Group recently published its performance results for the third quarter of 2020, stating that the group achieved net revenue of CNY174.2 billion, a year-on-year increase of 29.2%.

Among the total net revenue, its net revenue of services reached CNY22.8 billion, which was about USD3.4 billion, accounting for over 13% of the overall net revenue for the first time.

By September 30, 2020, JD's active shopping users over the past 12 months reached 441.6 million, a year-on-year increase of 32.1%, and the growth rate set a new record high for the past three years.

During the third quarter of 2020, JD Group's inventory turnover days dropped to 34 days, marking the fastest inventory turnover efficiency since its listing. At the same time, statistics show that by September 30, 2020, JD had over 320,000 employees working at its listing and non-listing companies.

Liu Qiangdong, chairman and CEO of JD Group, said that China had gradually recovered from the impact of COVID-19. They were glad to see that depending on JD's online and offline supply chain infrastructure, their business partners were able to quickly recover from the epidemic.

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