BUSINESS JD's revenue up 24.9 pct in 2019

BUSINESS

JD's revenue up 24.9 pct in 2019

Xinhua

20:32, March 02, 2020

BEIJING, March 2 (Xinhua) -- China's online retailer JD.com on Monday reported a 24.9-percent year-on-year increase in net revenue in 2019, amounting to 576.9 billion yuan (about 82.9 billion U.S. dollars), according to its unaudited financial results.

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File photo: CGTN

The NASDAQ-listed company saw its gross merchandise volume surpassed 2 trillion yuan for the first time to reach 2.08 trillion yuan last year, growing by 24.4 percent from that of 2018.

Non-GAAP net income attributable to JD.com's ordinary shareholders for the full year of 2019 surged by 211 percent to 10.7 billion yuan from 3.5 billion yuan in 2018, the company said.

JD.com also saw an inflow of 19.5 billion yuan in free cash flow, which excludes the impact from its internet-based credit product JD Baitiao receivables included in the operating cash flow, compared to an outflow of 7.9 billion yuan in the previous year.

The company's annual active customer accounts increased by 18.6 percent to 362.0 million in 2019, with mobile monthly active users in December 2019 growing by 41 percent as compared to the same period of 2018.

"The year 2019 sets a new milestone in our corporate history with record earnings and excellent cash flow on an annual basis as our continued investments in infrastructure and technology began to yield solid financial results," said Sidney Huang, a chief financial officer of JD.com.

Richard Liu, CEO of JD.com, said the company has spared no effort in the fight against the novel coronavirus epidemic in China since late January, and its leading supply chain and logistics network have been called upon to address unmet needs across the country.

The company expects net revenues for the first quarter of 2020 to grow at least 10 percent compared with the same period in 2019.

JD.com had more than 220,000 employees as of the end of 2019, with over 40,000 newly added within last year.

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