JD.Com Inc (NASDAQ: JD) stock surged over 4.8% on 17th August, 2020 (As of 11:33 am GMT-4 ; Source: Google finance) post decent second quarter 2020 performance. The reported a revenue rise of 33.8% yoy to RMB201.1 billion (US$1 28.5 billion), while revenues from the sales of general merchandise products rose 45.4% yoy to RMB64.0 billion (US$9.1 billion). Net service revenues rose 36.4% yoy to RMB22.9 billion (US$3.2 billion), while Income from operations reached RMB5.0 billion (US$0.7 billion), from RMB2.3 billion for the same period last year. Non-GAAP income from operations rose to RMB5.6 billion (US$0.8 billion) with a non-GAAP operating margin of 2.8%, from RMB3.2 billion or a non-GAAP operating margin of 2.1% in the prior corresponding period.
JD Retail platform added premium global like Prada’s high-end footwear brand Church’s, Christopher Kane, Tom Dixon, Italian luxury shoe brand Sergio Rossi, Korean high street apparel brand SJYP and affordable Japanese cosmetics and drug store Daikoku. By Leveraging their supply chain strengths, JD Retail made a strategic partnership with Kwai, one of China’s leading short video platforms. JD Retail launched “Instant Delivery” services for mobile products, with delivery of mobile phones in as fast as one hour through JD Daojia. JD Retail launched its AI-powered skin evaluation service in June, enabling users to upload images from their mobile phone for analysis and get customized shopping guidance on suitable skincare and cosmetics products.
JD Health made an agreement with Hillhouse Capital for its non-redeemable series B preference share financing, raising Hillhouse Capital is over US$830 million. This move is to boost its pharmacy supply chain capabilities while pursuing healthcare services opportunities in the broader healthcare sector. JD Health also unveiled its Traditional Chinese Medicine Consultation Center and Intelligent Otorhinolaryngology Services Center. JD Health app covers all areas including heart disease, mental health, diabetes
JD Logistics launched a new Asia No.1 warehouse in Langfang, Hebei province, which is the first automated storage and retrieval system for bulky items in Asia’s e-commerce industry. JD Logistics operated over 750 warehouses, which covered an aggregate gross floor area of approximately 18 million square meters, including warehouse space managed under the JD Logistics Open Warehouse Platform as of June 2020.