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China’s e-commerce giant JD.com’s revenue booms 44%

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Richard Liu, Founder, JD.com

Image Courtesy: chinamoneynetwork.com

JD.com, leading Chinese e-commerce company, has announced its unaudited financial results for the fourth quarter and full year ended December 31, 2016. The company noted net revenue of RMB 80.3 billion (US $ 111.6 billion) for the fourth quarter, noting an increase of 47 per cent as against corresponding period in 2015.

Revenues from services and others, mainly from the company’s e-commerce platform business, for the fourth quarter of 2016 were RMB 7.4 billion (US $ 1.1 billion), an increase of 58 per cent from the fourth quarter of 2015. Net revenues for the full year were RMB 260.2 billion (US $ 37.5 billion), an increase of 44 per cent from the full year of 2015.

Also ReadWalmart to launch its warehouse retail business on JD.com

Annual active customer accounts for JD.com increased by 46 per cent to 226.6 million in the twelve months ended December 31, 2016 from 155.0 million in 2015, excluding unique customers from Paipai.com.

Commenting on overwhelming result, Richard Liu, Chief Executive Officer of JD.com said, “We are very pleased to see continued strong momentum across the board, further demonstrating that our vision of a high-quality e-commerce experience is winning the Chinese market,” adding, “Our robust growth reflects the appreciation among Chinese consumers for our commitment to authentic products and unparalleled service. As we look to the future, our focus on superior technology will be the key to further extending our industry leadership.”

 

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