JD.com GMV for the first quarter of 2016 increased by 55% YoY to RMB129.3 billion (US$120.1 billion); and, its net revenues were RMB54.0 billion (US$8.4 billion), an increase of 47.3% YoY according to its unaudited financial results.
Loss from operations for Q1 2016 was RMB864.9 million (US$134.1 million) compared to RMB822.6 million for the same period last year. Non-GAAP loss from operations2 for Q1 2016 was RMB295.7 million (US$45.9 million), compared to RMB318.0 million for Q1 2015. Non-GAAP operating margin of JD Mall3 for Q1 2016 was 0.5%, compared to negative 0.1% for Q1 2015.
JD’s annual active customer accounts increased by 73% to 169.1 million in the 12 months ended March 31, 2016 from 97.8 million in the 12 months ended March 31, 2015, excluding unique customers from Paipai.com. In comparison, the annual active buyers on Alibaba China retail marketplaces increased to 423 million.
Fulfilled orders in Q1 2016 on JD.com were 342.1 million, an increase of 54% from 221.5 million orders fulfilled for the core business in the same period in 2015. Fulfilled orders placed through mobile accounted for approximately 72.4% of total orders fulfilled in Q1 2016, an increase of more than 160% compared to the same period in 2015.
JD.com Activities in Q1 2016
JD.com established partnerships with a number of leading international brands during the quarter to meet the fast-growing demand from Chinese consumers for high-quality, authentic imported products, and help the brands expand their presence in China.
To strengthen its kitchenware offering, JD.com partnered with six top European brands in February, including WMF, WOLL, Zwilling, Fissler, Emsa and Luminarc. Germany’s TOM TAILOR GROUP launched its first Chinese online store on JD Worldwide in March, and Japan’s Kao Group also signed a strategic cooperation agreement with JD Worldwide.
In April, JD Mall launched a dedicated platform for home furnishings to connect leading international brands with Chinese consumers. The initiative kicked off at Milan Design Week 2016, with the Company hosting a special furniture and interiors exhibition that showcased the best of Chinese and Italian design.
As part of JD.com’s overall efforts to help partners develop brand recognition in China, JD launched a series of “Super Brand Days.”; Tmall also launched a similar campaign. In March, JD Finance joined China Everbright Bank to launch a co-branded Visa credit card targeting young adults and Chinese travelers abroad.