JD net profit up 33% in Q1

JD recorded 203.2 billion yuan ($31.58 billion) net revenue in the first quarter of 2021, up 39 percent year-on-year and 4 billion yuan net profit under the non-generally accepted accounting principles, up 33 percent, according to the firm's Q1 fiscal report released on Wednesday.

The report showed revenue of its retail business stood at 185.8 billion yuan, up 35 percent, of logistic business stood at 22.4 billion yuan, up 64 percent year-on-year, and of new businesses including JXI, a social e-commerce platform, at 5.2 billion yuan, up 56 percent.

As of late March, JD had 499.8 million active purchasers in the previous 12 months, up 29 percent from 387.4 million over the same period in 2020, and up 5.9 percent from 471.9 million purchasers last quarter, according to the fiscal report.

"All of our business lines are at rapid growth stages," said Xu Ran, chief financial officer of JD, adding that retail business will continue to grow with a steady profit margin. JD Logistic, also in a high-speed growth, will continue to invest in infrastructure and network construction but it is too early to precisely depict an investment expectation on new business such as JXI, said Xu.