《京東集團JD.com, Inc.（JD）2024年第一季度財報「NASDAQ」（英文版）（11頁）.pdf》由會員分享，可在線閱讀，更多相關《京東集團JD.com, Inc.（JD）2024年第一季度財報「NASDAQ」（英文版）（11頁）.pdf（11頁珍藏版）》請在三個皮匠報告上搜索。

1、JD.com Announces First Quarter 2024 ResultsBEIJING,May 16,2024(GLOBE NEWSWIRE)-JD.com,Inc.(NASDAQ:JD and HKEX:9618(HKD counter)and 89618(RMB counter),the“Company”),a leading supply chain-based technology and service provider,today announced its unaudited financial results for the quarter endedMarch

2、31,2024.First Quarter 2024 HighlightsNet revenues were RMB260.0 billion(US$136.0 billion)for the first quarter of 2024,an increase of 7.0%from the firstquarter of 2023.Income from operations was RMB7.7 billion(US$1.1 billion)for the first quarter of 2024,compared to RMB6.4 billion forthe first quart

3、er of 2023.Non-GAAP2 income from operations was RMB8.9 billion(US$1.2 billion)for the first quarter of2024,compared to RMB7.9 billion for the first quarter of 2023.Net income attributable to the Companys ordinary shareholders was RMB7.1 billion(US$1.0 billion)for the firstquarter of 2024,compared to

4、 RMB6.3 billion for the first quarter of 2023.Net margin attributable to the Companys ordinaryshareholders was 2.7%for the first quarter of 2024,compared to 2.6%for the first quarter of 2023.Non-GAAP netincome attributable to the Companys ordinary shareholders was RMB8.9 billion(US$1.2 billion)for t

5、he first quarter of2024,compared to RMB7.6 billion for the first quarter of 2023.Non-GAAP net margin attributable to the Companysordinary shareholders was 3.4%for the first quarter of 2024,compared to 3.1%for the first quarter of 2023.Diluted net income per ADS was RMB4.53(US$0.63)for the first quar

6、ter of 2024,an increase of 15.3%from RMB3.93for the first quarter of 2023.Non-GAAP diluted net income per ADS was RMB5.65(US$0.78)for the first quarter of2024,an increase of 18.7%from RMB4.76 for the first quarter of 2023.“We are pleased to kick off the year with a solid performance for the first qu

7、arter,”said Sandy Xu,Chief Executive Officer of JD.com.“The year of 2024is marked with execution,and we are already seeing measurable results across the business.In particular,in the first quarter,our focus on userexperience helped to drive strong growth in the number of active users as well as user

8、 engagement.We are confident that we will further build on ourmomentum in the months ahead as JDs commitment to providing the best combination of selection,speed,quality and price continues to attractChinese consumers nationwide.We are approaching the 10th anniversary of our listing on Nasdaq in 202

9、4,and we believe we are well-positioned tocontinue to create value to our users,employees,shareholders and the society as a whole in the next chapter.”“We delivered solid financial results this quarter with accelerated revenue growth and healthy profitability,as our focus on execution led to improve

10、doperational efficiencies,”said Ian Su Shan,Chief Financial Officer of JD.com.“We were pleased to see our general merchandise category continue topick up momentum,thanks to the robust recovery of supermarket category,which reflects JDs ability to deliver the best product quality and selection,price

11、competitiveness and customer service.During the quarter,we also continued to execute on our share repurchase program which,alongside ourannual dividend,underscores the Companys healthy profitability,sound balance sheet,and commitment to returning value to shareholders.”Updates of Share Repurchase Pr

12、ogramDuring the period from January 1,2024 to May 15,2024,the Company repurchased a total of 98.3 million Class A ordinary shares(equivalent of 49.2million ADSs)for a total of US$1.3 billion.All of these shares were repurchased in the open markets from both Nasdaq and the Hong Kong StockExchange pur

13、suant to the Companys share repurchase programs publicly announced.The total number of shares repurchased by the Companyduring the period from January 1,2024 to May 15,2024 amounted to approximately 3.1%of its ordinary shares outstanding as of December 31,20233.Pursuant to the Companys previous shar

14、e repurchase program,expired on March 17,2024,the Company had repurchased a total of approximatelyUS$2.1 billion as of March 17,2024.Pursuant to the Companys new share repurchase program,which is effective through March 18,2027,the Company had repurchased a total ofapproximately US$0.7 billion as of

15、 May 15,2024.The remaining amount under the Companys new share repurchase program was US$2.3 billion asof May 15,2024.10th Anniversary of Listing on NasdaqJD.com will celebrate the 10th anniversary of its listing on Nasdaq on May 22,2024.In the past decade,it has scaled its businesses with totalreve

16、nues expanding 16 times from RMB69.3 billion in 2013 prior to its listing to RMB1.1 trillion in 2023,and Non-GAAP net income attributable to theCompanys ordinary shareholders growing 157 folds from RMB223.9 million to RMB35.2 billion.The total amount it has returned to its shareholdersthrough divide

17、nds and share buybacks has surpassed the total capital raised during the past ten years.The Company has also created full-time jobsto 517,124 employees with social insurance and housing fund benefits as of the end of 2023,representing a 13-time increase compared to ten yearsago.JD.com had a proven t

18、rack record in the past decade,and will continue to create value to its users,employees,shareholders,and the society asa whole in the next chapter.Business HighlightsJD Retail：On April 16,2024,JD.com introduced an AI digital representative of its founder and chairman of the board,Mr.Richard Qiangdon

19、g Liu,to join its supermarket,home appliances and home goods livestreaming rooms,drawing over 20million views within the first hour.It marks the industrys first livestreaming hosted by an AI avatar of an entrepreneur.Withthis,the Company will make further efforts to build its content ecosystem.JDs l

20、ivestreaming featured its procurement andsales managers is committed to providing users with more affordable and hassle-free livestreaming shopping experiencewith its price competitiveness,quality products and superior services.JD Health:During the first quarter,JD Health partnered with multiple pha

21、rmaceutical companies,such as Pfizer andSanofi,to debut new and specialty drugs online,continuing to enhance medicine accessibility.JD Health also expandedcollaborations with Shanghai Pharmaceuticals,Daiichi Sankyo,Sunshine Mandi Pharmaceutical,and others to furtherupgrade its one-stop experience of

22、 medicine retailing and healthcare services.JD Logistics:JD Logistics continues to help Chinese brands expand overseas with one-stop service offerings.In the firstquarter,JD Logistics provided MINISO with integrated supply chain services covering warehousing and fulfillment forMINISO stores in Austr

23、alia and Malaysia.The two parties will further explore global cooperation opportunities.Environment,Social and GovernanceDriven by JD.coms unwavering commitment and unremitting efforts to creating more jobs and making contribution to thesociety,the Companys total expenditure for human resources,incl

24、uding both its own employees and external personnelwho work for the Company,amounted to RMB106.6 billion for the twelve months ended March 31,2024.First Quarter 2024 Financial ResultsNet Revenues.Net revenues increased by 7.0%to RMB260.0 billion(US$36.0 billion)for the first quarter of 2024 from RMB

25、243.0 billion for the firstquarter of 2023.Net product revenues increased by 6.6%,while net service revenues increased by 8.8%for the first quarter of 2024,compared to thefirst quarter of 2023.Cost of Revenues.Cost of revenues increased by 6.4%to RMB220.3 billion(US$30.5 billion)for the first quarte

26、r of 2024 from RMB206.9 billion forthe first quarter of 2023.Fulfillment Expenses.Fulfillment expenses,which primarily include procurement,warehousing,delivery,customer service and payment processingexpenses,increased by 9.3%to RMB16.8 billion(US$2.3 billion)for the first quarter of 2024 from RMB15.

27、4 billion for the first quarter of 2023.Fulfillment expenses as a percentage of net revenues was 6.5%for the first quarter of 2024,compared to 6.3%for the first quarter of 2023.Theincrease was in relation to the adoption of lower threshold for free shipping services.Marketing Expenses.Marketing expe

28、nses increased by 15.6%to RMB9.3 billion(US$1.3 billion)for the first quarter of 2024 from RMB8.0 billion forthe first quarter of 2023.Marketing expenses as a percentage of net revenues was 3.6%for the first quarter of 2024,compared to 3.3%for the firstquarter of 2023.The increase was mainly due to

29、the increased spending in promotion activities including the Spring Festival Gala sponsorship.Research and Development Expenses.Research and development expenses decreased by 3.6%to RMB4.0 billion(US$0.6 billion)for the firstquarter of 2024 from RMB4.2 billion for the first quarter of 2023.Research

30、and development expenses as a percentage of net revenues was 1.6%forthe first quarter of 2024,compared to 1.7%for the first quarter of 2023.General and Administrative Expenses.General and administrative expenses decreased by 21.0%to RMB2.0 billion(US$0.3 billion)for the firstquarter of 2024 from RMB

31、2.5 billion for the first quarter of 2023,primarily due to a decrease in share-based compensation expenses.General andadministrative expenses as a percentage of net revenues was 0.8%for the first quarter of 2024,compared to 1.0%for the first quarter of 2023.Income from Operations and Non-GAAP Income

32、 from Operations.Income from operations increased by 19.8%to RMB7.7 billion(US$1.1billion)for the first quarter of 2024 from RMB6.4 billion for the first quarter of 2023.Operating margin was 3.0%for the first quarter of 2024,comparedto 2.6%for the first quarter of 2023.Non-GAAP income from operation

33、s increased by 12.7%to RMB8.9 billion(US$1.2 billion)for the first quarter of2024 from RMB7.9 billion for the first quarter of 2023.Non-GAAP operating margin was 3.4%for the first quarter of 2024,compared to 3.2%for thefirst quarter of 2023.Operating margin of JD Retail before unallocated items was

34、4.1%for the first quarter of 2024,compared to 4.6%for the firstquarter of 2023,as the Company continues to invest in user experience.Non-GAAP EBITDA.Non-GAAP EBITDA increased by 13.6%to RMB10.8 billion(US$1.5 billion)for the first quarter of 2024 from RMB9.5 billion forthe first quarter of 2023.Non-

35、GAAP EBITDA margin was 4.1%for the first quarter of 2024,compared to 3.9%for the first quarter of 2023.Others,net.Other non-operating income was RMB2.7 billion(US$0.4 billion)for the first quarter of 2024,compared to RMB2.8 billion for the firstquarter of 2023.Net Income Attributable to the Companys

36、 Ordinary Shareholders and Non-GAAP Net Income Attributable to the Companys OrdinaryShareholders.Net income attributable to the Companys ordinary shareholders increased by 13.9%to RMB7.1 billion(US$1.0 billion)for thefirst quarter of 2024 from RMB6.3 billion for the first quarter of 2023.Net margin

37、attributable to the Companys ordinary shareholders was 2.7%for thefirst quarter of 2024,compared to 2.6%for the first quarter of 2023.Non-GAAP net income attributable to the Companys ordinary shareholdersincreased by 17.2%to RMB8.9 billion(US$1.2 billion)for the first quarter of 2024 from RMB7.6 bil

38、lion for the first quarter of 2023.Non-GAAP netmargin attributable to the Companys ordinary shareholders was 3.4%for the first quarter of 2024,compared to 3.1%for the first quarter of 2023.Diluted EPS and Non-GAAP Diluted EPS.Diluted net income per ADS increased by 15.3%to RMB4.53(US$0.63)for the fi

39、rst quarter of 2024 fromRMB3.93 for the first quarter of 2023.Non-GAAP diluted net income per ADS increased by 18.7%for the first quarter of 2024 to RMB5.65(US$0.78)from RMB4.76 for the first quarter of 2023.Cash Flow and Working CapitalAs of March 31,2024,the Companys cash and cash equivalents,rest

40、ricted cash and short-term investments totaled RMB179.3 billion(US$24.8billion),compared to RMB197.7 billion as of December 31,2023.For the first quarter of 2024,free cash flow of the Company was as follows:For the three months ended March 31,2023March 31,2024March 31,2024 RMBRMBUS$(In millions)Net

41、cash used in operating activities(21,607)(11,315)(1,567)Less:Impact from consumer financing receivables included in the operating cash flow(582)(1,281)(177)Less:Capital expenditures,net of related sales proceeds Capital expenditures for development properties(2,145)(1,360)(188)Other capital expendit

42、ures*(1,068)(1,520)(211)Free cash flow(25,402)(15,476)(2,143)*Including capital expenditures related to the Companys headquarters in Beijing and all other CAPEX.Net cash provided by investing activities was RMB28.4 billion(US$3.9 billion)for the first quarter of 2024,consisting primarily of the cash

43、 receipt frommaturity in short-term investments,partially offset by cash paid for purchase of short-term investments and capital expenditures.Net cash used in financing activities was RMB7.4 billion(US$1.0 billion)for the first quarter of 2024,consisting primarily of cash paid for sharerepurchase.Fo

44、r the twelve months ended March 31,2024,free cash flow of the Company was as follows:For the twelve months ended March 31,2023March 31,2024March 31,2024 RMBRMBUS$(In millions)Net cash provided by operating activities 39,697 69,813 9,669 Add/(Less):Impact from consumer financing receivables included

45、in the operating cash flow 908 (1,191)(165)Less:Capital expenditures,net of related sales proceeds Capital expenditures for development properties(16,974)(11,332)(1,569)Other capital expenditures(4,641)(6,713)(930)Free cash flow 18,990 50,577 7,005 Supplemental InformationFrom the first quarter of 2

46、024,the Company started to report three segments,JD Retail,JD Logistics and New Businesses,to reflect changes made tothe reporting structure whose financial information is reviewed by the chief operating decision maker of the Company under its ongoing operatingstrategies.JD Retail,including JD Healt

47、h and JD Industrials,among other components,mainly engages in online retail,online marketplace andmarketing services in China.JD Logistics includes both internal and external logistics businesses.New Businesses mainly include Dada,JD Property,Jingxi and overseas businesses.The table below sets forth

48、 the segment operating results,with prior period segment information retrospectively recast to conform to current periodpresentation:For the three months ended March 31,2023March 31,2024March 31,2024 RMBRMBUS$(In millions,except percentage data)Net revenues:JD Retail212,358 226,835 31,416 JD Logisti

49、cs36,728 42,137 5,836 New Businesses6,026 4,870 675 Inter-segment eliminations*(12,156)(13,793)(1,911)Total consolidated net revenues242,956 260,049 36,016 Operating income/(loss):JD Retail9,844 9,325 1,291 JD Logistics(1,123)224 31 New Businesses(374)(670)(94)Including:gain on sale of development p

50、roperties472 Total segment operating income8,347 8,879 1,228 Unallocated items*(1,920)(1,179)(162)Total consolidated operating income6,427 7,700 1,066 YoY%change of net revenues:JD Retail(2.4)%6.8%JD Logistics34.3%14.7%New Businesses(6.5)%(19.2)%Operating margin:JD Retail4.6%4.1%JD Logistics(3.1)%0.

51、5%New Businesses(6.2)%(13.8)%*The inter-segment eliminations mainly consist of revenues from supply chain solutions and logistics services provided by JD Logistics to JD Retail,on-demand delivery and retail services provided by Dada to JD Retail and JD Logistics,and property leasing services provide

52、d by JD Property to JDLogistics.*Unallocated items include share-based compensation,amortization of intangible assets resulting from assets and business acquisitions,effects ofbusiness cooperation arrangements,and impairment of goodwill and intangible assets,which are not allocated to segments.The t

53、able below sets forth the revenue information:For the three months ended March 31,2023 March 31,2024 March 31,2024 YoY%Change RMB RMB US$(In millions,except percentage data)Electronics and home appliances revenues116,999 123,212 17,065 5.3%General merchandise revenues78,565 85,296 11,813 8.6%Net pro

54、duct revenues195,564 208,508 28,878 6.6%Marketplace and marketing revenues19,062 19,289 2,671 1.2%Logistics and other service revenues28,330 32,252 4,467 13.8%Net service revenues47,392 51,541 7,138 8.8%Total net revenues242,956 260,049 36,016 7.0%Conference CallJD.coms management will hold a confer

55、ence call at 8:00 am,Eastern Time on May 16,2024,(8:00 pm,Beijing/Hong Kong Time on May 16,2024)todiscuss the first quarter of 2024 financial results.Please register in advance of the conference using the link provided below and dial in 15 minutes prior to the call,using participant dial-in numbers,

56、thePasscode and unique access PIN which would be provided upon registering.You will be automatically linked to the live call after completion of thisprocess,unless required to provide the conference ID below due to regional restrictions.PRE-REGISTER LINK:https:/s1.c- ID:10038661A telephone replay wi

57、ll be available for one week until May 23,2024.The dial-in details are as follows:US:+1-855-883-1031International:+61-7-3107-6325Hong Kong:800-930-639Mainland China:400-120-9216Passcode:10038661 Additionally,a live and archived webcast of the conference call will also be available on the JD.coms inv

58、estor relations website at http:/.About JD.comJD.com is a leading supply chain-based technology and service provider.The Companys cutting-edge retail infrastructure seeks to enable consumersto buy whatever they want,whenever and wherever they want it.The Company has opened its technology and infrast

59、ructure to partners,brands andother sectors,as part of its Retail as a Service offering to help drive productivity and innovation across a range of industries.Non-GAAP MeasuresIn evaluating the business,the Company considers and uses non-GAAP measures,such as non-GAAP income/(loss)from operations,no

60、n-GAAPoperating margin,non-GAAP net income/(loss)attributable to the Companys ordinary shareholders,non-GAAP net margin attributable to theCompanys ordinary shareholders,free cash flow,non-GAAP EBITDA,non-GAAP EBITDA margin,non-GAAP net income/(loss)per share andnon-GAAP net income/(loss)per ADS,as

61、supplemental measures to review and assess operating performance.The presentation of these non-GAAPfinancial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordancewith accounting principles generally accepted in th

62、e United States of America(“U.S.GAAP”).The Company defines non-GAAP income/(loss)fromoperations as income/(loss)from operations excluding share-based compensation,amortization of intangible assets resulting from assets andbusiness acquisitions,effects of business cooperation arrangements,gain on sal

63、e of development properties and impairment of goodwill andlong-lived assets.The Company defines non-GAAP net income/(loss)attributable to the Companys ordinary shareholders as net income/(loss)attributable to the Companys ordinary shareholders excluding share-based compensation,amortization of intan

64、gible assets resulting from assets andbusiness acquisitions,effects of business cooperation arrangements and non-compete agreements,gain/(loss)on disposals/deemed disposals ofinvestments and others,reconciling items on the share of equity method investments,loss/(gain)from fair value change of long-

65、term investments,impairment of goodwill,long-lived assets and investments,gain in relation to sale of development properties and tax effects on non-GAAPadjustments.The Company defines free cash flow as operating cash flow adjusting the impact from consumer financing receivables included in theoperat

66、ing cash flow and capital expenditures,net of the proceeds from sale of development properties.Capital expenditures include purchase ofproperty,equipment and software,cash paid for construction in progress,purchase of intangible assets and land use rights.The Company definesnon-GAAP EBITDA as non-GA

67、AP income/(loss)from operations plus depreciation and amortization excluding amortization of intangible assetsresulting from assets and business acquisitions.Non-GAAP basic net income/(loss)per share is calculated by dividing non-GAAP net income/(loss)attributable to the Companys ordinary shareholde

68、rs by the weighted average number of ordinary shares outstanding during the periods.Non-GAAPdiluted net income/(loss)per share is calculated by dividing non-GAAP net income/(loss)attributable to the Companys ordinary shareholders by theweighted average number of ordinary shares and dilutive potentia

69、l ordinary shares outstanding during the periods,including the dilutive effect ofshare-based awards as determined under the treasury stock method.Non-GAAP net income/(loss)per ADS is equal to non-GAAP net income/(loss)per share multiplied by two.The Company presents these non-GAAP financial measures

70、 because they are used by management to evaluate operating performance andformulate business plans.Non-GAAP income/(loss)from operations,non-GAAP net income/(loss)attributable to the Companys ordinaryshareholders and non-GAAP EBITDA reflect the Companys ongoing business operations in a manner that a

71、llows more meaningful period-to-periodcomparisons.Free cash flow enables management to assess liquidity and cash flow while taking into account the impact from consumer financingreceivables included in the operating cash flow and the demands that the expansion of fulfillment infrastructure and techn

72、ology platform has placed onfinancial resources.The Company believes that the use of the non-GAAP financial measures facilitates investors to understand and evaluate theCompanys current operating performance and future prospects in the same manner as management does,if they so choose.The Company als

73、obelieves that the non-GAAP financial measures provide useful information to both management and investors by excluding certain expenses,gain/loss and other items that are not expected to result in future cash payments or that are non-recurring in nature or may not be indicative of theCompanys core

74、operating results and business outlook.The non-GAAP financial measures have limitations as analytical tools.The Companys non-GAAP financial measures do not reflect all items ofincome and expense that affect the Companys operations or not represent the residual cash flow available for discretionary e

75、xpenditures.Further,these non-GAAP measures may differ from the non-GAAP information used by other companies,including peer companies,and therefore theircomparability may be limited.The Company compensates for these limitations by reconciling the non-GAAP financial measures to the nearest U.S.GAAP p

76、erformance measure,all of which should be considered when evaluating performance.The Company encourages you to review theCompanys financial information in its entirety and not rely on a single financial measure.CONTACTS:Investor RelationsSean Zhang+86(10)8912-6804IRJD.comMedia Relations+86(10)8911-6

77、155PressJD.comSafe Harbor StatementThis announcement contains forward-looking statements.These statements are made under the“safe harbor”provisions of the U.S.Private SecuritiesLitigation Reform Act of 1995.These forward-looking statements can be identified by terminology such as“will,”“expects,”“an

78、ticipates,”“future,”“intends,”“plans,”“believes,”“estimates,”“confident”and similar statements.Among other things,the business outlook and quotations frommanagement in this announcement,as well as JD.coms strategic and operational plans,contain forward-looking statements.JD.com may also makewritten

79、or oral forward-looking statements in its periodic reports to the U.S.Securities and Exchange Commission(the“SEC”),in announcementsmade on the website of the Hong Kong Stock Exchange,in its annual report to shareholders,in press releases and other written materials and in oralstatements made by its

80、officers,directors or employees to third parties.Statements that are not historical facts,including statements about JD.comsbeliefs and expectations,are forward-looking statements.Forward-looking statements involve inherent risks and uncertainties.A number of factorscould cause actual results to dif

81、fer materially from those contained in any forward-looking statement,including but not limited to the following:JD.coms growth strategies;its future business development,results of operations and financial condition;its ability to attract and retain newcustomers and to increase revenues generated fr

82、om repeat customers;its expectations regarding demand for and market acceptance of its productsand services;trends and competition in Chinas e-commerce market;changes in its revenues and certain cost or expense items;the expected growthof the Chinese e-commerce market;laws,regulations and government

83、al policies relating to the industries in which JD.com or its business partnersoperate;potential changes in laws,regulations and governmental policies or changes in the interpretation and implementation of laws,regulations andgovernmental policies that could adversely affect the industries in which

84、JD.com or its business partners operate,including,among others,initiativesto enhance supervision of companies listed on an overseas exchange and tighten scrutiny over data privacy and data security;risks associated withJD.coms acquisitions,investments and alliances,including fluctuation in the marke

85、t value of JD.coms investment portfolio;natural disasters andgeopolitical events;change in tax rates and financial risks;intensity of competition;and general market and economic conditions in China and globally.Further information regarding these and other risks is included in JD.coms filings with t

86、he SEC and the announcements on the website of the HongKong Stock Exchange.All information provided herein is as of the date of this announcement,and JD.com undertakes no obligation to update anyforward-looking statement,except as required under applicable law.JD.com,Inc.Unaudited Interim Condensed

87、Consolidated Balance Sheets(In millions,except otherwise noted)As of December 31,2023 March 31,2024 March 31,2024 RMB RMB US$ASSETS Current assets Cash and cash equivalents 71,892 81,626 11,305Restricted cash 7,506 7,293 1,010Short-term investments 118,254 90,371 12,516Accounts receivable,net(includ

88、ing consumer financing receivables of RMB2.3 billionand RMB1.2 billion as of December 31,2023 and March 31,2024,respectively)(1)20,302 17,540 2,429Advance to suppliers 2,753 2,388 331Inventories,net 68,058 67,994 9,417Prepayments and other current assets 15,639 12,803 1,773Amount due from related pa

89、rties 2,114 2,943 408Assets held for sale 1,292 1,114 154Total current assets 307,810 284,072 39,343Non-current assets Property,equipment and software,net 70,035 71,255 9,869Construction in progress 9,920 9,501 1,316Intangible assets,net 6,935 6,626 918Land use rights,net 39,563 38,646 5,352Operatin

90、g lease right-of-use assets 20,863 21,503 2,978Goodwill 19,980 19,980 2,767Investment in equity investees 56,746 55,849 7,735Marketable securities and other investments 80,840 79,572 11,021Deferred tax assets 1,744 1,712 237Other non-current assets 14,522 13,106 1,815Total non-current assets 321,148

91、 317,750 44,008Total assets 628,958 601,822 83,351 JD.com,Inc.Unaudited Interim Condensed Consolidated Balance Sheets(In millions,except otherwise noted)As of December 31,2023 March 31,2024 March 31,2024 RMB RMB US$LIABILITIES Current liabilities Short-term debts 5,034 5,267 729Accounts payable 166,

92、167 146,831 20,336Advance from customers 31,625 30,169 4,178Deferred revenues 2,097 2,073 287Taxes payable 7,313 4,773 661Amount due to related parties 1,620 716 99Accrued expenses and other current liabilities 43,533 48,149 6,668Operating lease liabilities 7,755 7,859 1,088Liabilities held for sale

93、 506 262 36Total current liabilities 265,650 246,099 34,082Non-current liabilities Deferred revenues 964 833 115Unsecured senior notes 10,411 10,432 1,445Deferred tax liabilities 9,267 9,095 1,260Long-term borrowings 31,555 32,157 4,454Operating lease liabilities 13,676 14,264 1,976Other non-current

94、 liabilities 1,055 979 136Total non-current liabilities 66,928 67,760 9,386Total liabilities 332,578 313,859 43,468 MEZZANINE EQUITY 614 618 86 SHAREHOLDERS EQUITY Total JD.com,Inc.shareholders equity (US$0.00002 par value,100,000 million sharesauthorized,3,183 million shares issued and 3,054 millio

95、n shares outstanding as of March31,2024)231,858 222,380 30,799Non-controlling interests 63,908 64,965 8,998Total shareholders equity 295,766 287,345 39,797 TOTAL LIABILITIES,MEZZANINE EQUITY AND SHAREHOLDERS EQUITY 628,958 601,822 83,351 (1)JD Technology performs credit risk assessment services for

96、consumer financing receivables business and absorbs the credit risk of the underlyingconsumer financing receivables.Facilitated by JD Technology,the Company periodically securitizes consumer financing receivables through thetransfer of those assets to securitization plans and derecognizes the relate

97、d consumer financing receivables through sales type arrangements.JD.com,Inc.Unaudited Interim Condensed Consolidated Statements of Operations(In millions,except per share data)For the three months ended March 31,2023March 31,2024March 31,2024 RMBRMBUS$Net revenues Net product revenues195,564 208,508

98、 28,878 Net service revenues47,392 51,541 7,138 Total net revenues242,956 260,049 36,016 Cost of revenues(206,938)(220,279)(30,507)Fulfillment(15,371)(16,806)(2,328)Marketing(8,005)(9,254)(1,282)Research and development(4,186)(4,034)(559)General and administrative(2,501)(1,976)(274)Gain on sale of d

99、evelopment properties472 Income from operations(2)(3)6,427 7,700 1,066 Other income/(expenses)Share of results of equity investees(821)(730)(101)Interest expense(590)(601)(83)Others,net(4)2,792 2,696 373 Income before tax7,808 9,065 1,255 Income tax expenses(1,609)(1,700)(235)Net income6,199 7,365 1

100、,020 Net income/(loss)attributable to non-controlling interests shareholders(62)235 33 Net income attributable to the Companys ordinary shareholders6,261 7,130 987 Net income per share:Basic1.99 2.28 0.32 Diluted1.96 2.27 0.31 Net income per ADS:Basic3.99 4.56 0.63 Diluted3.93 4.53 0.63 JD.com,Inc.U

101、naudited Interim Condensed Consolidated Statements of Operations(In millions,except per share data)For the three months ended March 31,2023March 31,2024March 31,2024 RMBRMBUS$(2)Includes share-based compensation as follows:Cost of revenues(37)(26)(4)Fulfillment(199)(110)(15)Marketing(135)(83)(11)Res

102、earch and development(332)(175)(24)General and administrative(771)(365)(51)Total(1,474)(759)(105)(3)Includes amortization of business cooperation arrangement and intangible assets resulting from assets and business acquisitions as follows:Fulfillment(105)(103)(14)Marketing(219)(219)(30)Research and

103、development(90)(66)(9)General and administrative(32)(32)(4)Total(446)(420)(57)(4)Others,net are other non-operating income/(loss),primarily consist of gains/(losses)from fair value change of long-term investments,governmentincentives,interest income,gains/(losses)from acquirements or disposals of bu

104、sinesses and investments,impairment of investments,foreignexchange gains/(losses),net.JD.com,Inc.Unaudited Non-GAAP Net Income Per Share and Per ADS(In millions,except per share data)For the three months ended March 31,2023March 31,2024March 31,2024 RMBRMBUS$Non-GAAP net income attributable to the C

105、ompanys ordinary shareholders 7,5918,8991,231 Weighted average number of shares:Basic 3,1393,1263,126Diluted 3,1803,1443,144 Non-GAAP net income per share:Basic 2.422.850.39Diluted 2.382.830.39 Non-GAAP net income per ADS:Basic 4.845.690.79Diluted 4.765.650.78 JD.com,Inc.Unaudited Interim Condensed

106、Consolidated Statements of Cash Flows and Free Cash Flow(In millions)For the three months ended March 31,2023March 31,2024March 31,2024 RMBRMBUS$Net cash used in operating activities(21,607)(11,315)(1,567)Net cash provided by investing activities 16,692 28,414 3,935 Net cash provided by/(used in)fin

107、ancing activities 1,255 (7,445)(1,031)Effect of exchange rate changes on cash,cash equivalents and restricted cash(726)(130)(18)Net increase/(decrease)in cash,cash equivalents and restricted cash(4,386)9,524 1,319 Cash,cash equivalents,and restricted cash at beginning of period,including cash andcas

108、h equivalents classified within assets held for sale 85,156 79,451 11,004 Less:cash,cash equivalents,and restricted cash classified within assets held for sale atbeginning of period(41)(53)(8)Cash,cash equivalents,and restricted cash at beginning of period 85,115 79,398 10,996 Cash,cash equivalents,

109、and restricted cash at end of period,including cash and cashequivalents classified within assets held for sale 80,770 88,922 12,315 Less:cash,cash equivalents,and restricted cash classified within assets held for sale atend of period (3)*Cash,cash equivalents and restricted cash at end of period 80,

110、770 88,919 12,315 Net cash used in operating activities(21,607)(11,315)(1,567)Less:Impact from consumer financing receivables included in the operating cash flow(582)(1,281)(177)Less:Capital expenditures,net of related sales proceeds Capital expenditures for development properties(2,145)(1,360)(188)

111、Other capital expenditures(1,068)(1,520)(211)Free cash flow(25,402)(15,476)(2,143)*Absolute value is less than US$1 million.JD.com,Inc.Supplemental Financial Information and Business Metrics(In RMB billions,except turnover days data)Q1 2023Q2 2023Q3 2023Q4 2023Q1 2024 Cash flow and turnover days Ope

112、rating cash flow trailing twelve months(“TTM”)39.752.558.459.569.8 Free cash flow TTM 19.033.539.440.750.6 Inventory turnover days(5)TTM 32.431.730.830.329.0 Accounts payable turnover days(6)TTM 51.352.852.653.251.8 Accounts receivable turnover days(7)TTM 4.85.05.45.65.4 (5)TTM inventory turnover da

113、ys are the quotient of average inventory over the immediately preceding five quarters,up to and including the lastquarter of the period,to cost of revenues of retail business for the last twelve months,and then multiplied by 360 days.(6)TTM accounts payable turnover days are the quotient of average

114、accounts payable for retail business over the immediately preceding fivequarters,up to and including the last quarter of the period,to cost of revenues of retail business for the last twelve months,and then multiplied by 360days.(7)TTM accounts receivable turnover days are the quotient of average ac

115、counts receivable over the immediately preceding five quarters,up to andincluding the last quarter of the period,to total net revenues for the last twelve months and then multiplied by 360 days.Presented are the accountsreceivable turnover days excluding the impact from consumer financing receivable

116、s.JD.com,Inc.Unaudited Reconciliation of GAAP and Non-GAAP Results(In millions,except percentage data)For the three months ended March 31,2023March 31,2024March 31,2024 RMBRMBUS$Income from operations 6,427 7,700 1,066Add:Share-based compensation 1,474 759 105Add:Amortization of intangible assets re

117、sulting from assets and business acquisitions 336 309 42Add:Effects of business cooperation arrangements 110 111 15Reversal of:Gain on sale of development properties(472)Non-GAAP income from operations 7,875 8,879 1,228Add:Depreciation and other amortization 1,624 1,908 265Non-GAAP EBITDA 9,499 10,7

118、87 1,493 Total net revenues 242,956 260,049 36,016 Non-GAAP operating margin 3.2%3.4%Non-GAAP EBITDA margin 3.9%4.1%JD.com,Inc.Unaudited Reconciliation of GAAP and Non-GAAP Results(In millions,except percentage data)For the three months ended March 31,2023March 31,2024March 31,2024 RMBRMBUS$Net inco

119、me attributable to the Companys ordinary shareholders 6,261 7,130 987 Add:Share-based compensation 1,256 592 82 Add:Amortization of intangible assets resulting from assets and business acquisitions 222 143 20 Add:Reconciling items on the share of equity method investments(8)840 370 51 Add:Impairment

120、 of goodwill,long-lived assets,and investments 26 558 77 Reversal of:Gain from fair value change of long-term investments(876)(8)(1)Reversal of:Gain on sale of development properties(364)Reversal of:Gain on disposals/deemed disposals of investments and others(21)(22)(3)Add:Effects of business cooper

121、ation arrangements and non-compete agreements 110 111 15 Add:Tax effects on non-GAAP adjustments 137 25 3 Non-GAAP net income attributable to the Companys ordinary shareholders 7,591 8,899 1,231 Total net revenues 242,956 260,049 36,016 Non-GAAP net margin attributable to the Companys ordinary share

122、holders 3.1%3.4%(8)To exclude the GAAP to non-GAAP reconciling items on the share of equity method investments and share of amortization of intangibles not ontheir books._1 The U.S.dollar(US$)amounts disclosed in this announcement,except for those transaction amounts that were actually settled in U.

123、S.dollars,arepresented solely for the convenience of the readers.The conversion of Renminbi(RMB)into US$in this announcement is based on the exchange rateset forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System as of March 29,2024,which was RMB7.2203 toUS$1.0

124、0.The percentages stated in this announcement are calculated based on the RMB amounts.2 See the sections entitled“Non-GAAP Measures”and“Unaudited Reconciliation of GAAP and Non-GAAP Results”for more information about thenon-GAAP measures referred to in this announcement.3 The number of ordinary shares outstanding as of December 31,2023 was 3,137,663,915 shares,being 3,183,434,337 issued shares minus45,770,422 treasury stock.