On August 15th, JD.com Group released its Q2 and interim results for 2024. In the second quarter, JD Group's revenue reached RMB 291.4 billion (approximately USD 40.1 billion), and its revenue in the first half of the year reached RMB 551.4 billion (approximately USD 75.9 billion), continuing to grow. The net profit attributable to common shareholders of the listed company under non US GAAP reached RMB 14.5 billion (approximately USD 2 billion), a year-on-year increase of 69.0%, and the net profit margin reached 5.0% for the first time, both significantly exceeding market expectations.
In the second quarter, we remain committed to the sustainable and high-quality development of our business, "said Xu Ran, CEO of JD.com. The number of users grew steadily in the second quarter, and user engagement continued to improve. In the future, we will continue to focus on our own advantages, user experience, price competitiveness, and platform ecology, laying the foundation for sustainable business growth
In the second quarter, logistics and other service revenue reached 34.1 billion yuan, a year-on-year increase of 7.9%. As of the second quarter, JD Logistics' non GAAP operating profit has been profitable for five consecutive quarters, and the non GAAP operating profit margin in the second quarter reached a new high since JD Logistics went public.
JD's "Chunxiao Plan" has upgraded 32 support measures for merchants, including AI store opening, which has also led to a 46% increase in the number of new third-party merchants in the second quarter compared to the first quarter.
Since the first half of the year, JD.com has worked together with more than 20 provinces and cities to promote the exchange of old appliances and home furnishings. During the 618 shopping festival, JD.com drove a year-on-year increase of over 100% in the transaction volume of more than 700 brands. After JD launched the beauty and makeup bonus in the second quarter with a subsidy of billions of yuan, it further increased its efforts in August, investing over 3 billion yuan to focus on the entire beauty category.
Since the comprehensive transformation towards technology in 2017, JD's R&D investment has accumulated nearly 130 billion yuan as of the second quarter. On the basis of self operated product SKUs exceeding 10 million yuan, JD's inventory turnover days in the second quarter continued to maintain a global leading level of less than 30 days.
As of the second quarter, JD.com has added over 20000 new job opportunities in the past year. In early August, JD.com launched its 2025 campus recruitment campaign, providing over 16000 job opportunities for college students. Over the past three years, JD.com has provided more than 50000 job opportunities to current students. As of this year's' 519 Senior Employee Days', there are over 70000 employees who have been working at JD.com for more than 5 years. Following the salary increase for JD's procurement and sales and frontline business personnel in the first quarter, starting from July 1, 2024, the annual fixed salary for JD's procurement and sales will be increased from 16 salaries to 20 salaries within one and a half years, with no upper limit on performance incentives.