Chinese e-commerce giant JD.com reported net losses of 2,713 million yuan (338 million euros) in the last quarter, the first time it has reported negative results in almost four years.
In accounts sent on Thursday night to the Hong Kong Stock Exchange, where it is listed, the technology company indicated that its revenue increased 1.5% between October and December, to 352,284 million yuan (43,935 million euros), a value 3.9% below the most widespread forecasts among analysts.
The main reason for these losses was the increase in JD.com’s spending to drive new business, almost six times higher than a year ago, mainly due to its entry into the competitive home food delivery market in China, where it faces strong competition from other giants in the sector, such as Alibaba and Meituan.
As part of this dispute, the Beijing company announced last weekend that it has already reached a market share of 15%, setting the objective of doubling it to 30% before the end of this year.
The intense competition between these companies, marked by spending billions of yuan to attract customers with aggressive discounts, led the Chinese authorities to intervene, opening an investigation in January.
In addition to the fight for market share, JD.com and the sector in general face a context marked by consumer distrust and the consequent weakness in domestic demand, an issue on which the Government announced initiatives such as a multimillion-dollar plan to renew household appliances and other electronic devices.
However, according to analysts, the economic objectives for 2026 and the five-year plan that will guide the second largest economy in the world until 2030 do not include significant measures to stimulate consumption, returning to favoring support for supply over demand.
JD.com also reported a 52.54% drop in net profit in 2025 to around 19,631 million yuan (2,448 million euros), while revenue increased 12.97% for the year as a whole.
The technology’s shares rose 8.51% today during the morning session in Hong Kong, although they have accumulated a drop of 41.23% in the last twelve months.
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