JD.com FY18: 27.5% growth in net revenues

Date : 01 March 2019

For the full year of 2018, JD.com reported net revenues of RMB462.0bn (US$67.2bn), representing a 27.5% increase from the full year of 2017.

Expanding customer and merchant base

Net revenue for the fourth quarter of 2018 were RMB134.8bn (US$219.6bn), an increase of 22.4% from the fourth quarter of 2017. JD.com’s sales are seasonally high in the fourth quarter due to promotions surrounding Double 11, or Singles' Day.

Annual active customer accounts have increased to 305.3m by December 31, 2018 from 292.5m in the twelve months ended December 31, 2017. Quarterly active customer accounts in the fourth quarter of 2018, also have grown by 20%, compared to the same period in 2017.

JD.com also had over 210,000 merchants on its online marketplace as of December 31, 2018.

Enhancing supply chain capabilities

JD.com has expanded its leadership position in fulfillment capabilities among China’s ecommerce companies. JD.com operates over 550 warehouses covering an aggregate gross floor area of approximately 12m sq m in China.

JD.com’s joint venture, Dada-JD Daojia, has partnered with more than 100,000 stores from leading supermarkets including Walmart, Yonghui, Carrefour and CR Vanguard. Dada’s crowd-sourcing delivery network is covering more than 450 cities.

Focus on 2019

JD.com also reveal that net revenues for the first quarter of 2019 are expected grow between 18% and 22% compared with the first quarter of 2018.

Chief Executive Richard Liu said the company will focus on expanding into smaller Chinese cities in 2019, and driving investments in offline retail technology and logistics.

IGD Asia newsletter

Keep up-to-date with the latest retail developments from Asia.

Sign up for our newsletter »