In Q1 2018, JD.com reported net revenues of RMB100.1 billion (US$16.0 billion), representing a 33.1% increase from the same period in 2017. Net product revenues increased by 31.0% while net service revenues increased by 60.0% year-on-year to RMB8.6 billion (US$1.4 billion) in Q1 2018. Annual active customer accounts increased by 27.6% to 301.8 million in the last twelve months ended March 31, 2018.
Compare with Alibaba Q1 2018 results here.
JD.com’s net income from continuing operations attributable to ordinary shareholders was RMB1,524.9 million (US$243.1 million), compared to RMB298.8 million in Q1 2017.
JD.com Key Business Activities in Q1 2018
In April, as part of its “Retail as a Service” offering, JD.com leveraged its retail infrastructure to help Swiss luxury watchmaker Audemars Piguet launch its first ever online pop-up boutique on the WeChat Mini-Program platform. JD.com offered full technical support, as well as tailored marketing, high-end logistics solutions, and other services, to help the brand tap into the Chinese market.
In Q1 2018, H.Moser&Cie., a top independent Swiss watchmaking brand, launched its first store in China on JD’s direct sales platform. In March, TAG Heuer, SEIKO and MIDO launched “real-time purchases” on JD’s platform in parallel with the Baselworld Watch and Jewelry Show, enabling consumers to purchase their latest models online during the show.
In March, high-end Italian customized men’s wear brand CANALI and British luxury brand Mulberry joined JD.com’s independent online luxury fashion platform TOPLIFE, which brings high-end fashion and luxury items from around the globe directly to Chinese consumers and provides a curated, premium online shopping experience.
Since its launch in 2017, TOPLIFE has attracted prominent international luxury brands including Saint Laurent, Alexander McQueen, and Derek Lam, as well as La Perla, Rimowa (LVMH), B&O Play, Trussardi, and DYSON, among others.
As of April 30, 2018, JD.com’s joint venture, New Dada, had partnered with 192 Walmart stores and 424 Yonghui stores, among numerous other supermarkets and grocery stores, to provide a premium online fresh grocery shopping experience with one-hour home delivery service. New Dada is the largest crowdsourcing logistics provider and O2O grocery platform in China.
As of March 31, 2018, JD.com operated 515 warehouses covering an aggregate gross floor area of 10.9 million square meters in China.
JD.com had approximately 170,000 merchants on its online marketplace as of April 30, 2018, and a total of 163,543 full-time employees as of March 31, 2018.