JD reports Q2 revenue increases

Chinese e-commerce giant JD reported on Tuesday night its net revenues during the second quarter of this year stood at 267.6 billion ($40.0 billion), an increase of 5.4 percent year-on-year.

Its net income attributable to ordinary shareholders came in at 4.4 billion yuan for the quarter ending June 30, compared with 0.8 billion for the same period last year.

Expenditures on research and development rose by 9 percent to 4.0 billion yuan in the April-June period from 3.7 billion yuan a year ago.

"JD's resilient business model, industry-leading supply chain capabilities and efficient operations helped us deliver solid quarterly results amidst ongoing challenges in the external environment," said Xu Lei, CEO of JD.

Annual active customer accounts increased by 9.2 percent to 580.8 million in the twelve months ending on June 30, up from 531.9 million in the same period in 2021.

During the second quarter JD Logistics launched two new Asia No 1 smart industrial parks in Yiwu and Wenzhou of Zhejiang province. As of June 30, 2022, the unit operated approximately 1,400 warehouses covering an aggregated gross floor area of about 26 million square meters.