JD reports revenue spikes in 2021 (JD logistics, Warehouse, Retail chains, Business model)
A logo of Chinese online retailer JD. [Photo/IC]
Chinese e-commerce giant JD reported its net revenues reached 951.6 billion yuan ($149.3 billion) in 2021, representing a 27.6 percent increase on a yearly basis. Revenues from JD Logistics, the company's logistics arm, surpassed 100 billion yuan.
Its research and development expenses amounted to 16.3 billion yuan last year, compared with 16.1 billion yuan in 2020. The company has invested nearly 80 billion yuan in R&D over the past five years, with annual active customer accounts increasing 20.7 percent to 569.7 million in 2021 from 471.9 million in 2020.
Its net revenues reached 275.9 billion yuan in the fourth quarter of 2021, an increase of 23 percent from the fourth quarter of 2020.
"JD maintained a healthy growth momentum and contributed to the high-quality expansion of China's consumption amid a dynamic external environment. This was driven by our resilient business model as a new type of real economy based enterprise and persistent focus on serving users and supporting business partners," said Xu Lei, president of JD.
During the fourth quarter, the company further promoted its omni-channel innovation project through its collaboration with over 600 stores of China Resources Vanguard, one of China's largest retail chains.
So far, JD has collaborated with more than 370 supermarkets including Walmart and Yonghui, covering over 34,000 stores with over 3 million stock-keeping units and providing consumers with on-demand shopping options.
As of the end of last year, JD Logistics operated over 1,300 warehouses covering an aggregate gross floor area of over 24 million square meters, including space in cloud warehouses managed under the JD Logistics Open Warehouse Platform.