JD.com Delivers Strong Full‑Year 2025 Results with Accelerated Double‑Digit Growth

JD.com released its financial results for the fourth quarter and the full year ended 31 December 2025 on 5 March.

In the fourth quarter of 2025, the company posted revenue of RMB 352.3 billion. For the full year 2025, revenue reached RMB 1,309.1 billion, representing accelerated double‑digit growth compared with 2024.

The company’s electronics and home appliances category maintained a solid market position, recording full‑year revenue growth of 7.1% year on year despite a high base. General merchandise revenue expanded at a double‑digit rate for the fifth consecutive quarter, rising 15.3% year on year for the full year and accounting for more than 40% of total merchandise revenue, an annual record. The supermarket and daily‑use category achieved double‑digit growth for eight straight quarters. Services revenue grew 23.6% year on year in 2025, making up 21.8% of total revenue, also a new annual high.

Under non‑US GAAP, JD.com’s net profit for the full year 2025 stood at RMB 27.0 billion. Operating profit of JD Retail grew at a double‑digit rate year on year, with an operating profit margin of 4.6%.

The group also saw robust momentum in user scale and engagement in 2025. Annual active customers surpassed 700 million, while quarterly active users and shopping frequency both rose by more than 30% year on year.