We must know that in 2018, Jingdong’s user growth stagnated for a while, and even showed negative growth. The current user growth rate has returned to the level of two years ago, indicating that JD has finally come out of the trough.
This data is significant. Because in the past, the most questioned point of JD.com is that its traffic has encountered a ceiling and it is doubtful whether it can achieve high growth again. In terms of users and revenue, Jingdong delivered a good answer in the second quarter.
Secondly, I can finally make money continuously.
Many people may not realize it yet. Now JD.com is no longer losing money. In the second quarter, JD.com realized a net profit of 16.4 billion yuan. Of course, a considerable part of this was due to the book profits brought about by the rise in the stock prices of some securities assets held by JD. For example, “other net income” was as high as 8 billion yuan. But excluding these interfering factors, Jingdong’s Non-GAAP net profit in the second quarter reached 5.9 billion yuan, a record high.
Data source/ company financial report mapping / Ran Caijing
In addition to net profit, JD’s gross profit in the second quarter was 28.6 billion yuan, a record high; operating profit of 5 billion yuan was also a record high. In short, at least on the books, JD.com is now able to make money continuously.
The third is to optimize the business structure.
Two indicators, service revenue and new business. In the second quarter, JD’s service revenue accounted for 11.4%, which was higher than 11% for five consecutive quarters. Service revenue is regarded as the key to JD’s future revenue growth. The self-operated model is too heavy, and the platform-based service model can get a higher valuation in the capital market. New businesses represented by logistics, technology, and going to sea had revenues of 9.4 billion yuan in the second quarter, an increase of 66% year-on-year, and achieved positive operating profits in the second quarter.
Data source/ Company financial report charting / Ran Caijing
In general, JD’s impact during the epidemic was relatively