China News
INTERNET SPACE
China's JD.com posts revenue jump amid costly food delivery push
China's JD.com posts revenue jump amid costly food delivery push
by AFP Staff Writers
Beijing (AFP) May 13, 2025

JD.com recorded a jump in first-quarter revenue, the Chinese e-commerce giant said Tuesday, as the company makes a costly effort to establish itself in the country's highly competitive food delivery sector.

The Beijing-based shopping platform has faced pressure in recent years from a persistent domestic spending slump and heightened competition with its primary rival, Alibaba.

Investors are now closely watching for signs of how JD.com will fare in its bid to challenge dominant food delivery provider Meituan, after launching its own meal service in February.

JD.com achieved net revenue of 301.1 billion yuan ($41.8 billion) in the three-month period ended March 31, according to results published to the Hong Kong Stock Exchange.

The figure represented a 15.8 percent year-on-year leap, outpacing a Bloomberg forecast of 12 percent and more than twice as fast as last year's first-quarter growth of seven percent.

Net income, meanwhile, came in at 10.9 billion yuan during the first quarter, improving from 7.1 billion yuan during the same period last year.

The growth came despite the firm's costly initiative to waive delivery fees this year for eateries that registered before May 1, in an attempt to grab market share from Meituan and Alibaba's Ele.me.

The company on Tuesday hailed "substantial progress in a very brief time" for its expansion into food delivery.

JD.com's foray into the food sector comes as Beijing increasingly embraces online service platforms as a useful driver of employment and domestic consumption in the face of broader pressures on growth.

JD.com CEO Sandy Xu said on Tuesday that the company's earnings were boosted in the first quarter by "improving consumer sentiment and continued enhancements to JD's supply chain capabilities and user experience".

But official data released over the weekend showed that spending in China remains mired in a slump.

Related Links
Satellite-based Internet technologies

Subscribe Free To Our Daily Newsletters
Tweet

RELATED CONTENT
The following news reports may link to other Space Media Network websites.
INTERNET SPACE
Alphabet's share price plunges on traffic drop testimony
Washington (AFP) May 7, 2025
Shares in Google parent Alphabet plunged more than seven percent on Wednesday after an Apple executive told a federal court that the search engine's traffic fell on Apple products last month. Eddy Cue, Apple's senior vice president of services, testified at an antitrust trial in Washington that Google search volume was losing traffic to AI alternatives such as ChatGPT or Perplexity, according to US media reports. "That has never happened in 20 years," legal news outlet MLex quoted him as saying. ... read more

INTERNET SPACE
Tiangong returns largest sample set yet for biological and materials science research

Space is a place to found a community not a colony

China's Shenzhou-19 astronauts return to Earth

New Shenzhou Crew Begins Handover Operations Aboard Tiangong

INTERNET SPACE
'Panic and paralysis': US firms fret despite China tariff reprieve

Colombia joins Belt and Road initiative as China courts Latin America

Kazakhstan to dredge port for key China-EU trade route

Stock markets fluctuate as China-US trade euphoria fades

INTERNET SPACE
INTERNET SPACE
China congratulates Pope Leo on election, hopes for 'dialogue'

Trump tells India and Pakistan to 'stop' clashes

Moscow says 'no reason' to expect better German relations as Xi heads to Moscow

Trump talks tough on China, but early focus elsewhere

INTERNET SPACE
EU asks Prague to hold off on S.Korean nuclear deal

Ontario Approves Construction of GE Vernova Hitachi's BWRX-300 Small Modular Reactor

Google agrees to fund three US nuclear plants

EDF complaint blocks Czech-Korean nuclear deal

INTERNET SPACE
India tells X to block over 8,000 accounts

University of Rochester and RIT Launch Experimental Quantum Communications Network

China slams CIA recruitment ads as 'naked political provocation'

US jury awards WhatsApp $168 mn in NSO Group cyberespionage suit

INTERNET SPACE
EU asks Prague to hold off on S.Korean nuclear deal

Ontario Approves Construction of GE Vernova Hitachi's BWRX-300 Small Modular Reactor

Google agrees to fund three US nuclear plants

EDF complaint blocks Czech-Korean nuclear deal

INTERNET SPACE
Norway's Equinor slams 'unlawful' halt to US wind farm

US halts Equinor's huge New York offshore wind project

Chinese energy giant Goldwind posts annual growth as overseas drive deepens

Clean energy giant Goldwind leads China's global sector push

Subscribe Free To Our Daily Newsletters




The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.