JD net revenues reach 174.2b yuan in Q3

Chinese e-commerce giant JD reported its net revenues for the third quarter of this year reached 174.2 billion yuan ($25.7 billion), an increase of 29.2 percent compared with the same period last year. Annual active customer accounts increased by 32.1 percent to 441.6 million in the 12 months that ended Sept 30.

Net service revenues for the third quarter of 2020 were 22.8 billion yuan, an increase of 42.7 percent on a yearly basis. As of Sept 30, 2020, JD had approximately 284,000 employees, excluding part-timers and interns.

"Today, as China emerges from the pandemic, we are glad to see that our business partners are recovering rapidly with the support of our online and offline supply chain infrastructure. And our consumer mindshare continues to expand with over 100 million new active users joining our platform compared to a year ago," said Liu Qiangdong, JD's chairman and CEO.

Liu said the company continued to add new hires even against the backdrop of uncertainties arising from COVID-19.

"We look forward to continuously leveraging JD's leading supply chain-based technology and nationwide infrastructure for the benefit of the society,"Liu said.

Sandy Xu, JD's chief financial officer, said the company will continue to invest in technology and infrastructure to enhance its user experience.

In addition, JD Logistics, JD's logistics arm, operated over 800 warehouses, which covered an aggregate gross floor area of approximately 20 million square meters, including warehouse space managed under the JD Logistics Open Warehouse Platform.