New | JD.com revenue jumps 47 per cent in the first quarter
Online retail giant reports user base up 73 per cent to 169 million over the past year
JD.com, China’s second-largest online retail services provider by sales, plans to ramp up the number of alliances with major brands this year after posting solid revenue in the seasonally slow first quarter.
In a statement released ahead of the Monday opening of the Nasdaq stock market in the United States, chief executive Richard Liu Qiangdong said that opportunities lay ahead as “more top brands discover the value of partnering with JD.com”.
The Beijing-based company saw its revenue for the three months ended March 31 rise 47 per cent to 53.97 billion yuan (HK$64.43 billion), up from 36.64 billion yuan in the same period last year, on the back of a sharp increase in annual active e-commerce customer accounts.
Its total user base jumped 73 per cent to 169 million in the 12 months to March, compared with 98 million a year earlier.
That helped JD.com’s gross merchandise volume -- the total value of goods sold on its domestic e-commerce platforms -- grow 55 per cent to 129.3 billion yuan in the first quarter from 83.6 billion yuan a year ago.
“Our core JD Mall business showed continued top-line growth momentum,” chief financial officer Sidney Huang said.