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Chinese online shopping company JD.com has released its results for the first quarter of 2022, ended March 31, and announced that it exceeded its quarterly revenue forecast.
JD.com reported first quarter 2022 revenue of RMB 239.7 billion, or €337.6 billion, an 18% increase over the first quarter 2021.
For the net service revenue for the first quarter of 2022, it amounted to RMB 35.2 billion (€49.6 billion), an increase of 26.3% compared to the first quarter of 2021.
Meanwhile, annual active customer accounts increased by 16.2% to 580.5 million in the last twelve months, compared to 499.8 million accounts registered in the twelve months ended March 31, 2021.
“JD.com’s strong supply chain capabilities and technology-driven operational efficiency supported our solid performance during the quarter, as we continued to generate healthy growth in a challenging external environment,” said Xu Lei.
These results were also driven by the signing of numerous partnerships with a series of high-end and luxury brands, such as Lanvin, Tory Burch, Yves Saint Laurent’s beauty division, and German luxury fashion e-commerce platform Mytheresa; among others.
Positive results, in short, even if JD.com CEO Xu Lei remains cautious about the outlook for the rest of 2022. Although JD.com posted a profit of 2.53 yuan per American Depositary Share (ADS), against 1.62 yuan expected by analysts, thus higher than expected, Xu Lei does not fail to show his concern about the situation in China.
The strict lockdowns in the cities of Shanghai, Beijing, Guangzhou, and Shenzhen due to the spread of Covid-19 make the future economic performance of the year 2022 uncertain. The normal life of Chinese people has been disrupted, and the business activity of the platform has been further disrupted, making the future unclear as to how long these will last.
“In April, the order cancellation rate was significantly higher than last year due to logistical disruptions. There was an improvement in May, but it was still higher than a year earlier,” continues Xu Lei. “Consumers are facing a loss of income and confidence, and overall consumption is sluggish,” he adds later.
Still, JD.com investors remain confident for the next few quarters, helped by comments from Chinese Vice Premier Liu He at a meeting with technology executives that raised hopes that a long-standing crackdown on the sector is easing. Stay tuned.
Read also > BURBERRY: POSITIVE RESULTS FOR 2021/2022, ALTHOUGH SLOWED BY THE SITUATION IN CHINA
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Chinese online shopping company JD.com has released its results for the first quarter of 2022, ended March 31, and announced that it exceeded its quarterly revenue forecast.
JD.com reported first quarter 2022 revenue of RMB 239.7 billion, or €337.6 billion, an 18% increase over the first quarter 2021.
For the net service revenue for the first quarter of 2022, it amounted to RMB35.2 billion (€49.6 billion), an increase of 26.3% compared to the first quarter of 2021.
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Chinese online shopping company JD.com has released its results for the first quarter of 2022, ended March 31, and announced that it exceeded its quarterly revenue forecast.
JD.com reported first quarter 2022 revenue of RMB 239.7 billion, or €337.6 billion, an 18% increase over the first quarter 2021.
For the net service revenue for the first quarter of 2022, it amounted to RMB35.2 billion (€49.6 billion), an increase of 26.3% compared to the first quarter of 2021.
[…][/vc_column_text][vc_cta h2=”Cet article est réservé aux abonnés.” h2_font_container=”tag:h2|font_size:16|text_align:left” h2_use_theme_fonts=”yes” h4=”Abonnez-vous dès maintenant !” h4_font_container=”tag:h2|font_size:32|text_align:left|line_height:bas” h4_use_theme_fonts=”yes” txt_align=”center” color=”black” add_button=”right” btn_title=”JE M’ABONNE !” btn_color=”danger” btn_size=”lg” btn_align=”center” use_custom_fonts_h2=”true” use_custom_fonts_h4=”true” btn_button_block=”true” btn_custom_onclick=”true” btn_link=”url:https%3A%2F%2Fluxus-plus.com%2Fen%2Fsubscriptions-and-newsletter-special-offer-valid-until-september-30-2020-2-2%2F|”]Accédez en illimité à tous les articles et vivez une expérience de lecture inédite, contenus en avant première, newsletter exclusives…
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