JD reports profit drop for 2025

Chinese e-commerce platform JD reported a drop in annual profit on Thursday, with heavy investment in its food delivery service having an impact on earnings.

According to the company's earnings report for the quarter and full year ended 2025, net revenue for the fourth quarter reached 352.3 billion yuan ($49 billion), up 1.5 percent from a year earlier and slightly above market expectations.

JD posted a net loss attributable to shareholders of 2.7 billion yuan in the fourth quarter, compared with a profit of 9.9 billion yuan a year earlier. For the full year, JD reported revenue of 1.31 trillion yuan, up 13 percent from 2024. 

The release of the report comes as investors follow closely the impact of intensifying food delivery competition in China, where JD has been ramping up investment to challenge incumbents.

Speaking on an earnings call, JD CEO Xu Ran said the company aims to grow its food delivery business while improving operational efficiency, adding that total investment in the segment in 2026 is expected to be lower than in 2025. 

Xu said JD would focus on a "quality delivery" strategy, relying on full-time couriers to ensure service standards while leveraging its supply chain and retail ecosystem to differentiate the business.

According to Xu, the platform will also seek to diversify revenue streams and improve the efficiency of subsidies and delivery operations so that growing order volumes can support healthier business expansion.

Food delivery and instant retail will remain key long-term strategic priorities for the company, Xu said, adding that the food delivery service had already brought new users to JD in 2025 as well as helping increase shopping frequency among existing customers.

chengyu@chinadaily.com.cn