BEIJING, May 9 (Xinhua) -- JD.com, China's leading technology driven e-commerce company and retail infrastructure service provider, announced on Tuesday its net profit from continuing operations under GAAP was 1.5249 billion yuan for the first quarter of 2018. Non-GAAP net profit was 1.0474 billion yuan, registering profit for eight quarters in a row.
JD’s profitability fuels not only on its stable margin of self-operating business, but also benefits from its growing ability of opening up and empowerment. The service revenues from advertising, logistics, commissions and other services for third parties have been accelerating and burst out a year-on-year growth of 60 percent in the first quarter, emerging as a new growth engine for the company.
JD has been shifting itself to retail infrastructure service provider in the past year by further opening its retail infrastructure to partners. As a result, the first quarter saw a 42 percent year-on-year growth in the number of third-party merchants on JD’s platform and it joined hands with Vipshop, Wanda, and Better Life to improve the efficiency of these traditional retail supply chains.
Sniffing the slow-down of traditional e-commerce business, JD also cooperated with Wechat and Tencent to push forward boundaryless retail solution. Besides, JD reached strategic cooperation with Toutiao, Baidu, Qihoo 360 Technology, NetEase, Sogou and iQIYI.COM to further cut online customer access cost.
In terms of online and offline integration, JD cooperated with large retailers such as Yonghui, WalMart, Vipshop, Wanda, and Better Life. Its independently operated JD Logistics ran 515 large warehouses, covering about 10.9 million square meters as of the end of the first quarter. (Edited by Niu Huizhe, niuhuizhe@xinhua.org)
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