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JD.com, China’s leading technology-driven e-commerce company, today announced its financial results for the first quarter of 2021, which ended March, 31.
Highlights of the beginning of 2021
Overall, the figures recorded for the first quarter of 2021 have shown a growing dynamic, and are higher than the figures for the first quarter of 2020. E-commerce was indeed one of the sectors that was called upon many times during the health crisis by the population, with tourism stopped and physical shops closed a part of the year. The figures for the first quarter of 2021 correlate with this growth phenomenon.
Net revenues for the first quarter of 2021 were up to $131 billion, an increase of 39% compared to the first quarter of 2020. Net service revenues for the first quarter of 2021 were up to $4.3 billion, an increase of 73.1% over the first quarter of 2020.
Net profit attributable to ordinary shareholders for the first quarter of 2021 was RMB3.6 billion, the Chinese currency (US$0.6 billion), compared to RMB1.1 billion for the same period last year.
“While our strong growth momentum from last year continued in the first quarter of 2021, we are also encouraged by the diversification of our revenue streams with an increasing contribution from services revenue,” said Sandy Xu, CFO of JD.com. “JD Retail’s operating margin widened further in the quarter as we continue to generate stronger operating leverage through technology and innovation,” he continued.
One of the strengths of the business: JD Retail
JD.com and Louis Vuitton launched an innovative cooperation in April: the French fashion house relied on JD.com to develop its e-commerce in China. This cooperation model has put Louis Vuitton in direct contact with JD.com customers, giving them access to the brand while enhancing the luxury shopping experience on the site.
In the first quarter of 2021, JD.com also launched new partnerships with a wide range of luxury brands. John Lobb, the luxury shoe and boot brand from the Hermes Group, recently opened flagship shops on JD.com. But some brands have gone even further, partnering with JD.com for supply chain services. Italian brand Marni has launched a flagship shop on the site, but has also adopted a customised one-stop-shop solution offered by JD.com, covering marketing, technology and supply chain management. The service will allow customers to buy directly from Marni’s inventory, with products delivered by JD Logistics.
JD.com has also focused on the areas of logistics, health and the environment, which has had a significant impact on the results for the first half of 2021. For example, as part of its commitment to poverty alleviation, JD.com has helped poor counties to market more than 3 million local products online. In the future, it plans to focus on rural digitisation to promote sustainable development in these areas.
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JD.com, China’s leading technology-driven e-commerce company, today announced its financial results for the first quarter of 2021, which ended March, 31.
Highlights of the beginning of 2021
Overall, the figures recorded for the first quarter of 2021 have shown a growing dynamic, and are higher than the figures for the first quarter of 2020. E-commerce was indeed one of the sectors that was called upon many times during the health crisis by the population, with tourism stopped and physical shops closed a part of the year. The figures for the first quarter of 2021 correlate with this growth phenomenon.
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JD.com, China’s leading technology-driven e-commerce company, today announced its financial results for the first quarter of 2021, which ended March, 31.
Highlights of the beginning of 2021
Overall, the figures recorded for the first quarter of 2021 have shown a growing dynamic, and are higher than the figures for the first quarter of 2020. E-commerce was indeed one of the sectors that was called upon many times during the health crisis by the population, with tourism stopped and physical shops closed a part of the year. The figures for the first quarter of 2021 correlate with this growth phenomenon.
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