Shulou(Shulou.com)11/24 Report--

On the evening of November 18, JD.com Group (NASDAQ:JD,HK:9618) released its results for the third quarter of 2022. According to the financial report, JD.com Group's revenue in the third quarter was 243.54 billion yuan, an increase of 11.4 percent over the same period last year, and the market expected 242.808 billion yuan; net profit 6 billion yuan, net loss 2.8 billion yuan in the same period last year, market expected net profit 4.857 billion yuan; adjusted net profit of 10 billion yuan, 5 billion yuan in the same period last year.

Third quarter results:

Net revenue was 243.5 billion yuan ($342a), up 11.4 per cent from a year earlier. Of this total, net service revenue was 46.5 billion yuan ($6.5 billion), an increase of 42.2% over the same period last year.

JD.com Retail's net revenue was 211.923 billion yuan ($29.792 billion), compared with 198.08 billion yuan a year earlier. JD.com Retail's operating profit was 10.926 billion yuan ($1.536 billion), compared with 7.942 billion yuan a year earlier.

JD.com 's net revenue was 35.771 billion yuan ($5.029 billion), compared with 25.749 billion yuan a year earlier. JD.com Logistics made an operating profit of 253.1 million yuan ($36 million), compared with an operating loss of 727 million yuan a year earlier.

Dada's net revenue was 2.38 billion yuan ($335 million) and an operating loss of 300 million yuan ($42 million).

Revenue cost was 207.3 billion yuan ($29.1 billion), up 10.5% from 187.6 billion yuan in the same period last year.

The expenditure on performance was 14.4 billion yuan ($2 billion), an increase of 0.5 percent compared with 14.3 billion yuan in the same period last year. Performance expenses accounted for 5.9 per cent of net revenue, compared with 6.5 per cent in the same period last year.

Marketing expenses were 7.6 billion yuan ($1.1 billion), compared with 7.8 billion yuan in the same period last year.

Spending on R & D was 4.1 billion yuan ($600 million), compared with 4 billion yuan in the same period last year.

General and administrative expenses were 2.6 billion yuan ($400 million), compared with 3.1 billion yuan in the same period last year.

Operating profit was 8.7 billion yuan ($1.2 billion), compared with 2.6 billion yuan in the same period last year.

Based on non-American accounting standards, operating profit was 9.9 billion yuan ($1.4 billion), compared with 4.6 billion yuan a year earlier. JD.com Retail's operating margin was 5.2 per cent, compared with 4.0 per cent a year earlier.

Based on non-American accounting standards, EBITDA (earnings before interest, tax, depreciation and amortisation) was 11.5 billion yuan ($1.6 billion), compared with 5.9 billion yuan EBITDA in the same period last year.

Other non-operating losses were 800 million yuan ($10, 000), compared with 3.1 billion yuan in the same period in 2020.

The net profit attributable to common shareholders was 6 billion yuan ($800 million), compared with a net loss of 2.8 billion yuan in the same period last year.

Based on non-Non-GAAP, net profit attributable to common shareholders was 10 billion yuan ($1.4 billion), compared with 5 billion yuan a year earlier.

Diluted earnings per American depositary share (ADS) was 3.57 yuan ($0.50), compared with a diluted loss of 1.81 yuan per ADS share in the same period last year.

Diluted earnings per ADS are 6.27 yuan ($0.88) per share based on non-GAAP, compared with 3.16 yuan per ADS in the same period a year earlier.

Cash flow

As of September 30, 2022, JD.com 's cash, cash equivalents, restricted cash and short-term investments totaled 218.2 billion yuan ($30.7 billion), compared with 191.3 billion yuan as of March 31, 2021.

In the third quarter, net cash for investment activities was 9.8 billion yuan ($1.7 billion), and net cash for financing activities was 4 billion yuan ($600 million).

Operating cash flow for the 12 months ended September 30, 2022 was 45.8 billion yuan (approximately $6.4 billion), compared with 41 billion yuan for the 12 months ended September 30, 2021.

Free cash flow for the 12 months ended September 30, 2022 was 25.8 billion yuan ($3.6 billion), compared with 28.5 billion yuan for the 12 months ended September 30, 2021.

The number of annual active users in the 12 months ended September 30, 2022 was 588.3 million, an increase of 6.5 per cent compared to 552.2 million in the 12 months to September 30, 2021.

As of September 30, 2022, the total number of employees of the JD.com system was nearly 500000, an increase of more than 70,000 over the end of last year.

In addition, as of September 30, 2022, the supply chain infrastructure assets of JD.com Group reached 126.7 billion yuan, an increase of 65% over the same period last year. JD.com Logistics operates more than 1500 warehouses, including the cloud warehouse management area on the cloud warehouse ecological platform, with a total storage management area of more than 30 million square meters. Since the introduction of technological transformation in 2017, by the end of the third quarter of 2022, JD.com 's system has invested more than 90 billion yuan in basic science and technology research and development.

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