| Schedule of the Group's operating segment results |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
For the year ended December 31, |
|
| |
|
|
|
|
|
|
|
|
|
| |
|
|
|
| Net revenues: |
|
|
|
|
|
|
|
|
|
|
|
|
| JD Retail |
|
|
945,343 |
|
|
|
1,015,948 |
|
|
|
1,126,399 |
|
| JD Logistics |
|
|
166,625 |
|
|
|
182,837 |
|
|
|
217,146 |
|
| New Businesses |
|
|
26,617 |
|
|
|
19,157 |
|
|
|
49,282 |
|
Inter-segment eliminations (1) |
|
|
(53,923 |
) |
|
|
(59,123 |
) |
|
|
(83,742 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total consolidated net revenues |
|
|
1,084,662 |
|
|
|
1,158,819 |
|
|
|
1,309,085 |
|
| Less: cost of revenues: |
|
|
|
|
|
|
|
|
|
|
|
|
| JD Retail |
|
|
(798,380 |
) |
|
|
(847,917 |
) |
|
|
(928,261 |
) |
| JD Logistics |
|
|
(154,494 |
) |
|
|
(164,689 |
) |
|
|
(198,039 |
) |
| New Businesses |
|
|
(21,004 |
) |
|
|
(15,109 |
) |
|
|
(49,995 |
) |
Inter-segment eliminations (1) |
|
|
49,053 |
|
|
|
52,844 |
|
|
|
77,325 |
|
Less: operating expenses (2) : |
|
|
|
|
|
|
|
|
|
|
|
|
| JD Retail |
|
|
(111,038 |
) |
|
|
(126,954 |
) |
|
|
(146,736 |
) |
| JD Logistics |
|
|
(11,126 |
) |
|
|
(11,831 |
) |
|
|
(13,838 |
) |
| New Businesses |
|
|
(7,102 |
) |
|
|
(7,413 |
) |
|
|
(46,315 |
) |
Inter-segment eliminations (1) |
|
|
4,870 |
|
|
|
6,279 |
|
|
|
6,417 |
|
| Income/(loss) from operations: |
|
|
|
|
|
|
|
|
|
|
|
|
| JD Retail |
|
|
35,925 |
|
|
|
41,077 |
|
|
|
51,402 |
|
| JD Logistics |
|
|
1,005 |
|
|
|
6,317 |
|
|
|
5,269 |
|
| New Businesses |
|
|
(329 |
) |
|
|
(2,865 |
) |
|
|
(46,641 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
Gain on sale of development properties (Note 17) |
|
|
|
|
|
|
|
|
|
|
|
|
Impairment of long-lived assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total segment income from operations |
|
|
36,601 |
|
|
|
44,529 |
|
|
|
10,030 |
|
| |
|
|
(10,576 |
) |
|
|
(5,793 |
) |
|
|
(7,256 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total consolidated income from operations |
|
|
26,025 |
|
|
|
38,736 |
|
|
|
2,774 |
|
| Share of results of equity investees |
|
|
1,010 |
|
|
|
2,327 |
|
|
|
8,025 |
|
| Interest expense |
|
|
(2,881 |
) |
|
|
(2,896 |
) |
|
|
(2,803 |
) |
| Others, net |
|
|
7,496 |
|
|
|
13,371 |
|
|
|
17,327 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total consolidated income before tax |
|
|
31,650 |
|
|
|
51,538 |
|
|
|
25,323 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (1) |
The inter-segment eliminations mainly consist of revenues from supply chain solutions and logistics services provided by JD Logistics to JD Retail and New Businesses and property leasing services provided by JD Property to JD Logistics. Transactions between segments are mainly determined based on the arm’s length basis. Among them, net revenues generated from the services provided by JD Logistics to other reportable segments were RMB50,063 million, RMB55,062 million and RMB80,314 million for the years ended December 31, 2023, 2024 and 2025, respectively. Other than that, inter-segment net revenues for JD Retail and New Businesses were not material. All net revenues from each reportable segment were generated from external customers except for the inter-segment net revenues mentioned above. |
| (2) |
A summary of depreciation and amortization expenses for the years presented is as follows ： |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
For the year ended December 31, |
|
| |
|
|
|
|
|
|
|
|
|
| |
|
|
|
| JD Retail |
|
|
(594 |
) |
|
|
(978 |
) |
|
|
(1,655 |
) |
| JD Logistics |
|
|
(4,346 |
) |
|
|
(4,650 |
) |
|
|
(5,102 |
) |
| New Businesses |
|
|
(2,071 |
) |
|
|
(2,266 |
) |
|
|
(1,944 |
) |
| (3) |
A summary of unallocated items for the years presented is as follows ： |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
For the year ended December 31, |
|
| |
|
|
|
|
|
|
|
|
|
| |
|
|
|
| Share-based compensation |
|
|
(4,804 |
) |
|
|
(2,999 |
) |
|
|
(4,726 |
) |
| Amortization of intangible assets resulting from assets and business acquisitions |
|
|
(1,281 |
) |
|
|
(1,010 |
) |
|
|
(1,046 |
) |
| Effects of business cooperation arrangements |
|
|
(446 |
) |
|
|
(450 |
) |
|
|
(181 |
) |
| Impairment of goodwill |
|
|
(3,143 |
) |
|
|
(799 |
) |
|
|
(1,303 |
) |
| Impairment of intangible assets |
|
|
(902 |
) |
|
|
(535 |
) |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total |
|
|
(10,576 |
) |
|
|
(5,793 |
) |
|
|
(7,256 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|