Jingdong GMV for the first quarter of 2017 increased by 42% to 184.1 billion yuan (US$26.7 billion) from 129.3 billion yuan in Q1 2016. Annual active customer accounts increased by 40% to 236.5 million in the twelve months ended March 31, 2017, from 169.1 million in the twelve months ended March 31, 2016.
GMV from Jingdong’s online direct sales business was 107.9 billion yuan in Q1 2017, up 42% from Q1 2016. GMV from the online marketplace business was 76.2 billion yuan in Q1 2017, an increase of 43% from Q1 2016.
GMV from electronics and home appliance products was 92.6 billion yuan in Q1 2017, an increase of 37% from Q1 2016, while GMV from general merchandise and others was 91.5 billion yuan in Q1 2017, an increase of 48% YoY, and contributed 50% of total GMV, up from 48% in Q1 2016.
JD.com reported net revenues of 76.2 billion yuan (US$11.1 billion) in Q1 2017, representing a 41% increase from the same period in 2016. Net revenues from online direct sales increased by 40%, while net revenues from services and others increased by 62% in Q1 2017, as compared to Q1 2016. Net revenues excluding JD Finance increased by 40% to 75.2 billion yuan in Q1 2017, up from 53.8 billion in the same period last year.
Income from operations for Q1 2017 was 843.1 million yuan (US$122.5 million), compared to loss from operations of 864.9 million yuan in Q1 2016. Non-GAAP income from operations for Q1 2017 was 1.7 billion yuan (US$0.2 billion) with a non-GAAP operating margin of 2.2%, as compared to non-GAAP loss from operations of 295.7 million yuan in Q1 2016.
Net income for Q1 2017 was 355.7 million yuan (US$51.7 million), compared to net loss of 867.3 million yuan in Q1 2016. Non-GAAP net income for Q1 2017 was 1.4 billion yuan (US$0.2 billion), as compared to non-GAAP net loss of 0.2 billion yuan in Q1 2016.
JD.com Key Business Activities in Q1 2017
In Q1 2017, Avène, the leading dermo-cosmetic brand for sensitive skin in European pharmacies, and three brands under Giorgio Armani, including EA7 Emporio Armani, Armani Jeans and Emporio Armani Underwear, launched flagship stores on JD.com’s direct sales platform.
JD Worldwide partnered with ASDA, a leading UK retailer under the Walmart umbrella, to bring high-quality British products to Chinese consumers. Additionally, JD Worldwide partnered with several other top international brands including Bayer, Inferno and Cetaphil.
JD expanded its footprint in the home furnishing and apparel categories, announcing strategic partnerships at Milan Design Week with SAVIO FIRMINO, Bordignon and Contractin, three leading Italian furniture brands.
JD partnered with Mercedes-Benz China Fashion Week and Shanghai Fashion Week to stage fashion shows featuring top Chinese designers.
In March, JD.com upgraded its recycling system for used packaging materials. Customers in Beijing, Shanghai, Guangzhou and Shenzhen can now return empty cardboard boxes to JD.com couriers to receive credits for future purchases on JD.com.
As of March 31, 2017, JD.com’s joint venture, New Dada as a crowdsourcing logistics provider and O2O supermarket platform, had partnered with 80 Walmart stores and 165 Yonghui stores to provide consumers a premium online grocery shopping experience with one-hour home delivery.
As of March 31, 2017, JD.com operated 263 warehouses covering an aggregate gross floor area of approximately 5.8 million square meters.
In April, JD.com announced the establishment of JD Logistics, a new business group under JD.com to provide integrated supply chain and logistics services to businesses across a wide range of industries.
JD.com had approximately 120,000 merchants on its online marketplace as of April 30, 2017, and a total of 122,405 full-time employees as of March 31, 2017.
In Q1 2017, China’s online retail sales reached 1,404.5 billion yuan (US$203.89), a year-on-year growth of 32.1%.