JD.com FY20: +29.3%YoY in net revenue

Date : 11 March 2021

Jiong-Jiong Yu

Senior Retail Analyst

JD.com reported net revenue of CNY745.8bn (US$114.3bn) for the full year of 2020, an increase of 29.3% from 2019.

Ended the year on a strong note with accelerated revenue and user growth

We are pleased to conclude the year on a strong note with another quarter of solid top and bottom-line results as well as excellent cash flow,” said Sandy Xu, Chief Financial Officer of JD.com. “Our operational efficiency continued to improve driven by technology and innovation. We have also made progress in a number of new businesses that we have been incubating, including the successful IPO of JD Health, the submission of JD Logistics’s listing application to the Hong Kong Stock Exchange and the progress of JD Property’s series A financing.”

The key performance indicators for the full year ended December 31, 2020, are:

  • Net revenues: CNY745.8bn (US$114.3bn), +29.3%YoY
  • Net service revenues: CNY93.9bn (US$14.4bn), +42.0%YoY
  • Annual active customers: 471.9 million, +30.3%YoY

JD saw accelerated revenue and user growth during the fourth quarter driven by our long-term operating philosophy and customer-centric value proposition despite the ongoing market challenges,” said Richard Liu, Chairman and Chief Executive Officer of JD.com.


Source: JD.com


Strengthen presence in lower tier cities through newly formed Jingxi Business Group

To better serve customers and small business owners in lower tier cities. JD.com formed Jingxi Business Group recently. It consolidates three online platforms:

  • Social ecommerce platform Jingxi
  • Convenience store business platform Jingxitong (formerly known as Xintonglu or JD New Markets) and
  • Community group purchase platform Jingxi Pinpin

To strengthen its supply chain capabilities in lower tier market and create synergies in technology, supply chain and logistics, JD.com has made investments into the following two companies recently:

  • Xingsheng Preference Electronic Business Limited, a leading community group purchase ecommerce platform based in Hunan province
  • China Dili Group, a wholesale produce market operator listed in Hong Kong


JD Logistics now has more than 900 warehouses and is committed to cut carbon emmission 

As of December 31, 2020, JD Logistics owns over 900 warehouses in the country (an increase of more than 300 from 2019), covering an aggregate gross floor area of approximately 21 million square meters.

According to JD.com’s press release, JD Logistics became the first Chinese logistics company to join the Science Based Targets initiative (SBTi) with a commitment to reducing its carbon emissions by 50% compare to 2019 by 2030.

JD Logistics is active in deploying new energy vehicles, promoting renewable energies and environmentally friendly materials and enabling partners to implement environmentally friendly practices.