Just now, JD responded!
On December 11th, the official WeChat account of the "JD spokesperson" stated that according to feedback from the Beijing public security organs, the illegal person Liang, who posted rumors that "a businessman surnamed Liu is suspected of violating the law and has been arrested," has been administratively detained by the public security organs in accordance with the law.
In addition, Liu Qiangdong's rare speech recently sparked market discussions. At present, the strong development of Pinduoduo is posing a huge threat to traditional e-commerce giants such as JD.com and Taobao. After Jack Ma shouted "Alibaba will reform", on the evening of December 9th, Liu Qiangdong, the founder and chairman of JD.com, replied to employee comments on the company's intranet that JD.com must change, otherwise there is no way out. "I believe we will definitely get out of the trough. Any person or company will go through several peaks and valleys to achieve greatness."
In terms of stock price, JD's stock price continued to decline this year, with both Hong Kong and US stock prices falling by over 50%. On December 11th, the stock price of JD Hong Kong plummeted again, falling 7.06% as of noon close.
JD: Liang has been arrested!
On December 11th, the official WeChat account of the "JD spokesperson" stated that according to feedback from the Beijing public security organs, the illegal person Liang, who posted rumors that "a businessman surnamed Liu is suspected of violating the law and has been arrested," has been administratively detained by the public security organs in accordance with the law. Please do not believe or spread rumors, and work together to maintain a clean online environment.
Previously, the official WeChat account of the "JD spokesperson" posted on October 13th, stating that there were rumors that "a businessman surnamed Liu was suspected of violating the law and was arrested". This rumor was deliberately posted by malicious individuals in JD's related news dynamics to confuse the public and manipulate public opinion. We express strong indignation over this heinous behavior and have reported it to the public security organs.
Liu Qiangdong: "JD must change, otherwise there is no way out!"
On the evening of December 9th, Liu Qiangdong, the founder and chairman of JD.com, replied to employee comments on the company's intranet that JD.com must change, otherwise there is no way out. "I believe we will definitely come out of the trough. Every person and every company will go through several peaks and valleys to achieve greatness."
It is reported that a JD operator posted a long post on the internal network, listing the current problems of JD, mainly including: the need to simplify the promotion mechanism; Platform promotion should plan the pace and intensity in advance, and cannot follow friends and merchants; The platform ecosystem needs to provide more traffic support to pop merchants; Low price mentality requires everyone to implement it effectively and thoroughly; Category mentality, except for 3C home appliances, there are no unique features in other categories, and there is a reason to only buy on JD.com.
It was this article that led Liu Qiangdong to personally respond, and Liu Qiangdong praised the employee's article for hitting the pain points of the company. "These are all problems that exist in JD's reality and must be changed. Otherwise, we have no way out. Every day, we prioritize customers, but in our work, we always think about ourselves as the center! We often say that in battles, we only prioritize ourselves, but we always defend ourselves and never think about how to take the initiative! Many people talk about innovation every day, but they just plagiarize and follow others every day."
Liu Qiangdong also emphasized his own responsibility. "There have been so many problems, of course, all due to my poor management. I am very self blaming. However, no matter what, I will not lie flat, and I hope my brothers will never lie flat. The organization is huge, bloated, and inefficient now, and changing it does take time."
Recently, JD Group released its financial report for the third quarter of 2023. In the third quarter, JD Group's revenue reached 247.7 billion yuan, maintaining a positive growth year-on-year. Service revenue reached 52.4 billion yuan, accounting for 21.2% of the overall revenue, setting a new historical high. In the third quarter, JD Group's net profit was 7.936 billion yuan, a year-on-year increase of 33.09%, and Non GAAP's net profit was 10.6 billion yuan, a year-on-year increase of 6%.
In terms of stock price performance, JD's stock price has continued to decline this year and has halved. On the US stock market, as of the close on December 10th, JD.com closed at $26.45 per share, a decline of over 52% for the year. In terms of Hong Kong stocks, as of the noon close on December 11th, JD's stock price fell by more than 7% on the same day, and has fallen by more than 50% since the beginning of the year.
It should be noted that on October 13th, multiple institutions downgraded JD's rating. Macquarie has downgraded JD Group's Hong Kong stock rating to neutral, with a target price of HK $124. Morgan Stanley has downgraded JD Group's ADR rating to flat, with a target price of $33.
The reasons for the continued pressure on JD's stock price can be roughly divided into three types of market views: first, in the face of fierce external competition, JD's business, especially the retail sector, has a lower than expected growth rate, or only reached the lower limit of analyst expectations. Secondly, JD's new business transformation is still in the exploratory stage, requiring more time and greater resource investment. Thirdly, the overall economic environment and growth rate are still slowly recovering, which has led to a continuous decline in the stock prices of companies providing services such as JD.com and Meituan.
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