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JD.com Reports Better Than Expected Q1 2021 Earnings, JD Stock Slightly Down
May 19 2021 · 14:17 UTC | Updated
9 hours ago
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JD.com recorded increased growth activity across the majority of its business unit in its diversification push.
Chinese e-commerce giant JD.com Inc (NASDAQ: JD) has released its Q1 2021 earnings, posting a better-than-expected revenue. As contained in the official press release, the company posted net revenue of 203.2 billion Chinese Yuan or $31 billion, representing an increase of 39.0% from the first quarter of 2020.
The company has been able to sustain its growth over the past few quarters as consumers turn to digital channels to source products as the pandemic rages. JD.com saw an increase in its total active platform users following its push to enlist new brands and sellers. Per the figures reported, the total users increased by 29.0% to 499.8 million in the twelve months ended
JD.com’s logistics team aims to raise $ 3.4 billion in the Hong Kong IPO
JD Logistics, the distribution unit of China’s JD.com trading group, will seek $ 3.4 billion in revenue that would be one of the largest initial public offerings in Hong Kong this year.
The company’s listing decision was due to the rise in online shopping in the coronavirus pandemic. But a a tougher regulatory environment For Chinese technology groups and the recent drop in shares of SF Holding, one of JD Logistics ’biggest competitors, the company’s proposed IPO price has dropped by a quarter, according to a person close to the deal.