Welcome!

Microsoft Cloud Authors: Pat Romanski, John Basso, Liz McMillan, Glenn Rossman, Elizabeth White

News Feed Item

JD.com Announces Second Quarter 2014 Results

GMV in Q2 2014 Increased by 107% Year-Over-Year

BEIJING, Aug. 15, 2014 /PRNewswire/ -- JD.com, Inc. ("JD.com" or the "Company") (NASDAQ: JD), China's largest online direct sales company, today announced its unaudited financial results for the quarter ended June 30, 2014.

Logo

Second Quarter 2014 Highlights[1]

  • GMV for the second quarter of 2014 was RMB63.0 billion (US$10.2 billion), an increase of 107% compared with the second quarter of 2013.
  • Net revenues for the second quarter of 2014 were RMB28.6 billion (US$4.6 billion), an increase of 64% from the second quarter of 2013.
  • Active customer accounts[2] increased from 19.6 million in the second quarter of 2013 to 38.1 million in the second quarter of 2014, an increase of 94%.
  • Fulfilled orders in the second quarter of 2014 were 163.7 million, an increase of 126% from 72.6 million for the same period in 2013. Fulfilled orders placed through mobile accounted for approximately 24% of total orders fulfilled in the second quarter of 2014.

"JD.com had a strong quarter of growth, surpassing our target and capturing additional market share," said Richard Liu, founder, Chairman and Chief Executive Officer of JD.com. "As China's leader in online direct sales, we're pleased to see that JD.com is becoming China's most popular and trusted destination to purchase authentic products while enjoying world class customer service and convenient and speedy delivery through our own last-mile delivery network."

"Looking ahead," Mr. Liu continued, "we will focus on increasing JD.com's market leadership by expanding the range of products and services available on our platform, optimizing our mobile offerings and penetrating into fast growing lower-tier cities. We are confident that these strategic initiatives, combined with the overall trend in China toward B2C e-commerce, will lay a solid foundation for our long-term growth."

"Our solid performance for the second quarter reflects our ongoing efforts to provide the best customer experience while enhancing operational efficiency," commented Sidney Huang, JD.com's Chief Financial Officer. "Backed by our strong balance sheet and free cash flow, we will continue to invest strategically in fulfillment infrastructure, technology and new business initiatives to further strengthen our leadership in China's direct B2C e-commerce market."

Recent Business Highlights

  • JD mobile launched its mobile virtual network operator (MVNO) business on May 15, 2014. Subscribers to JD mobile will enjoy benefits from JD.com, including discount shopping, financial services and other privileges.
  • JD.com launched level-one access on Tencent's Weixin platform for selected Weixin users in Beijing and Shanghai on May 27, 2014, and subsequently rolled it out to all Weixin users in June 2014. JD.com also launched a level-one access point on Tencent's Mobile QQ on August 8, 2014. With over 520 million active monthly users as of June 30, 2014, Mobile QQ brings JD.com to an even greater range of consumers throughout China, including younger audiences and residents of lower-tier cities.
  • JD.com's "Asia No.1" warehouse in Shanghai commenced trial operation in June, 2014. The state-of-the-art fulfillment center, which incorporates a high degree of automation, will improve fulfillment efficiency and increase our storage capacity.
  • JD.com launched its Smart Hardware Cloud Platform in June 2014. As of June 30, 2014, the platform provides services to more than 100 smart hardware start-ups and traditional home appliance manufacturers, helping connect JD.com customers even more quickly with the latest smart products.
  • JD.com pioneered and debuted China's first reimbursable electronic invoice on June 27, 2014. In partnership with the tax authority, the successful roll-out of the reimbursable electronic invoice is a significant milestone in the promotion of a nation-wide drive to use electronic invoices, which will facilitate tax compliance and the realization of fair play for all e-commerce merchants and operators.
  • Paipai, a subsidiary of JD.com, re-launched its site on July 17, 2014, with the goal of bringing JD.com's superior shopping experience to China's C2C space. The enhanced platform is dedicated to providing consumers with an increased selection of long-tail products. It also reduces marketing costs for sellers and prioritizes search relevance over advertising to attract more sellers, which provides customers a wider range of shopping options.
  • JD.com launched its proprietary online marketing technology platform on May 22, 2014 to offer services to our suppliers and sellers on JD.com and third-party websites.
  • JD.com extended its leadership in self-operated logistics capabilities among e-commerce companies in China. As of June 30, 2014, JD.com operated 97 warehouses with an aggregate gross floor area of approximately 1.8 million square meters, 1,808 delivery stations and 715 pickup stations. Our self-operated delivery network covered 1,780 counties and districts as of June 30, 2014, growing from 1,404 counties and districts as of March 31, 2014. The Company's 211 program and next-day delivery program covered 111 and 622 counties and districts, respectively as of June 30, 2014, rising from 103 and 503 counties and districts, respectively as of March 31, 2014. The majority of our new delivery capabilities were added in lower-tier cities in China in the second quarter of 2014.
  • JD.com had approximately 38,000 merchants on its online marketplace as of June 30, 2014 and a total of   62,061 full-time employees as of July 31, 2014.
  • According to iResearch, JD.com's share of China's online direct sales market reached 54.3% in the second quarter of 2014.

Second Quarter 2014 Financial Results

GMV and Net Revenues.  GMV for the second quarter of 2014 was RMB63.0 billion (US$10.2 billion), up 107% from the second quarter of 2013. GMV from our online direct sales and our online marketplace business increased from RMB23.6 billion and RMB6.9 billion in the second quarter of 2013 to RMB39.2 billion and RMB23.8 billion respectively in the second quarter of 2014. GMV from electronics and home appliance products, increased from RMB20.0 billion in the second quarter of 2013 to RMB34.8 billion in the second quarter of 2014, while GMV from general merchandise and others increased from RMB10.5 billion in the second quarter of 2013 to RMB28.2 billion in the second quarter of 2014. Percentage of GMV from general merchandise and others of our total GMV increased from 34.6% in the second quarter of 2013 to 44.8% in the second quarter of 2014.

For the second quarter of 2014, JD.com reported net revenues of RMB28.6 billion (US$4.6 billion), representing a 64% increase from the same period in 2013. The increase in our GMV and net revenues were primarily due to the growth in our active customer accounts from 19.6 million in the second quarter of 2013 to 38.1 million in the second quarter of 2014, and the growth in the number of fulfilled orders from 72.6 million in the second quarter of 2013 to 163.7 million in the second quarter of 2014. Net revenues from online direct sales increased by 60%, and net revenues from services and others increased by 186% in the second quarter of 2014 as compared to the second quarter of 2013, primarily due to the increased revenue from our rapidly expanding online marketplace and advertising service.

Cost of Revenues.  Our cost of revenues increased by 60% from RMB15.9 billion in the second quarter of 2013 to RMB25.5 billion (US$4.1 billion) in the second quarter of 2014. The increase was primarily due to the growth of our direct sales business.

Fulfillment Expenses.  Our fulfillment expenses, which primarily include procurement, warehousing, delivery and customer service expenses, increased by 105% from RMB1.0 billion in the second quarter of 2013 to RMB2.0 billion (US$0.3 billion) in the second quarter of 2014. This increase was primarily due to our expanding delivery service provided to the merchants on our marketplace, the seasonal increase in the number of our fulfillment employees to ensure the service level during our anniversary sales event in June of 2014, and the short-term integration cost in relation to the hiring of former Tencent e-commerce logistics staff.

Marketing Expenses.  Our marketing expenses increased by 149% from RMB0.4 billion in the second quarter of 2013 to RMB1.1 billion (US$0.2 billion) in the second quarter of 2014. This increase was primarily due to the amortization of intangible assets related to our strategic cooperation with Tencent. The increase was also driven by increased brand advertising and other marketing activities, including television commercials and online advertising during our special promotional campaign in June 2014 to celebrate our anniversary.

Technology and Content Expenses.  Our technology and content expenses increased by 92% from RMB218.2 million in the second quarter of 2013 to RMB420.0 million (US$67.7 million) in the second quarter of 2014. This increase was primarily due to the increase in the headcount of our technology employees, which included the addition of research and development talent after the Tencent transaction in March 2014 and the hiring of additional senior and experienced technology employees to execute our strategies to continuously improve our mobile and big data technologies.

General and Administrative Expenses.  Our general and administrative expenses increased by 184% from RMB160.6 million in the second quarter of 2013 to RMB455.4 million (US$73.4 million) in the second quarter of 2014. This increase was primarily due to the amortization of intangible assets related to our strategic cooperation with Tencent as well as the increase in share-based compensation expenses.

Net Loss.  Net loss for the second quarter of 2014 was RMB582.5 million (US$93.9 million), compared to RMB28.3 million for the same period last year. The increase was primarily due to amortization of intangible assets resulting from assets and business acquisitions related to the Tencent strategic partnership. Non-GAAP net loss[3] for the second quarter of 2014 was RMB11.8 million (US$1.9 million) as compared to non-GAAP net income of RMB37.5 million in the second quarter of 2013.

Net Loss Per ADS.  Net loss per ADS [4] for the second quarter of 2014 was RMB5.86 (US$0.94), compared to RMB0.57 for the second quarter of 2013. The increase of net loss per ADS was primarily attributable to the non-cash preferred shares redemption value accretion of RMB6.5 billion recognized immediately before our initial public offering when the preferred shares were converted into ordinary shares. Non-GAAP net loss per ADS[5] for the second quarter of 2014 was RMB0.01 (US$0.00) as compared to non-GAAP net income per ADS of RMB0.04 in the second quarter of 2013.

Cash Flow and Working Capital

As of June 30, 2014, the Company's cash and cash equivalents, restricted cash and short-term investments totaled RMB35.2 billion (US$5.7 billion), compared to RMB14.6 billion as of December 31, 2013. For the second quarter of 2014, free cash flow[6] was as follows:



For the three months ended



June 30, 2013


June 30, 2014

June 30, 2014



RMB


RMB

USD



(In thousands)

Net cash provided by/(used in) operating activities


643,702


(78,507)

(12,655)

Add: Impact from internet financing activities[7]


-


911,757

146,972

Less: Capital expenditures


(277,356)


(618,375)

(99,680)

Free cash flow


366,346


214,875

34,637







Our accounts payable include accounts payable to suppliers associated with our online direct sales business and those to third-party sellers on our online marketplace. From late 2013, we started to provide supply chain financing to our suppliers of online direct sales business. As of December 31, 2013 and June 30, 2014, the balances of financing we provided to our suppliers amounted to RMB0.1 billion and RMB1.4 billion (US$0.2 billion), respectively. Our accounts payable turnover days[8] for online direct sales business excluding the impact from supply chain financing were 42.6 days in the second quarter of 2013 and 40.7 days in the second quarter of 2014.

Our net inventories have increased from RMB6.4 billion as of December 31, 2013 to RMB10.8 billion (US$1.7 billion) as of June 30, 2014. Our inventory turnover days[9] were 34.0 days in the second quarter of 2013 and 34.3 days in the second quarter of 2014.

Third Quarter 2014 Guidance

Net revenues for the third quarter of 2014 are expected to be between RMB28.0 billion and RMB29.0 billion, representing growth of between 55% and 61% compared with the third quarter of 2013. This forecast reflects JD.com's current and preliminary expectation, which is subject to change.

Non-GAAP Measures

In evaluating our business, we consider and use non-GAAP measures, adjusted net income/(loss) and free cash flow, as supplemental measures to review and assess our operating performance. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). We define adjusted net income/(loss) as net loss excluding share-based compensation and amortization of intangible assets resulting from assets and business acquisitions. We define free cash flow as operating cash flow adding back the impact from internet financing activities and less capital expenditures, which include purchases of property, equipment and software, cash paid for construction in progress, purchase of office building, intangible assets and land use rights.

We present these non-GAAP financial measures because they are used by our management to evaluate our operating performance and formulate business plans. Adjusted net income/(loss) enables our management to assess our operating results without considering the impact of share-based compensation and amortization of intangible assets resulting from assets and business acquisitions, which are non-cash charges. Free cash flow enables our management to assess our liquidity and cash flow while taking into account the demands that the expansion of our fulfillment infrastructure and technology platform has placed on our financial resources. We also believe that the use of the non-GAAP measure facilitates investors' assessment of our operating performance.

These non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using adjusted net income/(loss) is that it does not reflect all items of income and expense that affect our operations. Share-based compensation and amortization of intangible assets resulting from assets and business acquisitions have been and may continue to be incurred in our business and are not reflected in the presentation of adjusted net income/(loss). One of the key limitations of free cash flow is that it does not represent the residual cash flow available for discretionary expenditures. Further, these non-GAAP measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited.

We compensate for these limitations by reconciling the non-GAAP financial measures to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating our performance. We encourage you to review our financial information in its entirety and not rely on a single financial measure.

Conference Call

JD.com's management will hold a conference call at 8:00 am Eastern Time on August 15, 2014 (8:00 pm Beijing/Hong Kong Time on August 15, 2014) to discuss the second quarter 2014 financial results.

Listeners may access the call by dialing the following numbers:

US:

+1-855-298-3404 or +1-631-5142-526

Hong Kong

+852-5808-3202 or 800-905-927

China

400-1200-539

International

+65-6823-2299

Passcode:       8373385

A replay of the conference call may be accessed by phone at the following numbers until August 22, 2014:

US:

+1-866 846 0868

International

+61-2-9641-7900

Passcode:      8373385

Additionally, a live and archived webcast of the conference call will also be available on the Company's investor relations website at http://ir.jd.com.

About JD.com, Inc

JD.com, Inc. is the leading online direct sales company in China. The Company strives to offer consumers the best online shopping experience. Through its content-rich and user-friendly website jd.com and mobile applications, JD.com offers a wide selection of authentic products at competitive prices and delivers products in a speedy and reliable manner. The Company believes it has the largest fulfillment infrastructure of any e-commerce company in China. JD.com operated 7 fulfillment centers and a total of 97 warehouses with an aggregate gross floor area of approximately 1.8 million square meters in 39 cities, and 1,808 delivery stations and 715 pickup stations in 1,780 counties and districts across China, staffed by its own employees. The Company provided same-day delivery in 111 counties and districts under its 211 program and next-day delivery in another 622 counties and districts across China as of June 30, 2014.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as JD.com's strategic and operational plans, contain forward-looking statements. JD.com may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about JD.com's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: JD.com's growth strategies; its future business development, results of operations and financial condition; its ability to attract and retain new customers and to increase revenues generated from repeat customers; its expectations regarding demand for and market acceptance of its products and services; trends and competition in China's e-commerce market; changes in its revenues and certain cost or expense items; the expected growth of the Chinese e-commerce market; Chinese governmental policies relating to JD.com's industry and general economic conditions in China. Further information regarding these and other risks is included in JD.com's filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and JD.com undertakes no obligation to update any forward-looking statement, except as required under applicable law.

NOTES.


[1] The U.S. dollar (USD) amounts disclosed in this press release, except for those transaction amounts that were actually settled in U.S. dollars, are presented solely for the convenience of the reader. The conversion of Renminbi (RMB) into USD in this release is based on the noon buying rate in The City of New York for cable transfers in RMB per USD as certified for customs purposes by the Federal Reserve Bank of New York as of June 30, 2014, which was RMB6.2036 to USD1.00. The percentages stated in this press release are calculated based on the RMB amounts.

 

[2] Active customer accounts for a specified period are customer accounts that made at least one purchase during the specified period, whether through online direct sales or online marketplace- but excluding Paipai and QQ Wanggou.

 

[3] As used in this press release, non-GAAP adjusted net income/(loss) is defined to exclude share-based compensation and amortization of intangible assets resulting from assets and business acquisitions from net loss. See "Reconciliation of GAAP and Non-GAAP Results" at the end of this press release.

 

[4] Each ADS represents two ordinary shares.

 

[5] As used in this press release, non-GAAP net income/(loss) per weighted average shares is calculated by dividing non-GAAP net income/(loss) by the weighted average number of shares of permanent equity securities outstanding during the period. Non-GAAP net income/(loss) per ADS is equal to non-GAAP net income/(loss) per weighted average shares multiplied by two.

 

[6] As used in this press release, non-GAAP free cash flow is defined as operating cash flow adding back the impact from internet financing activities and less capital expenditures, which include purchases of property, equipment and software, cash paid for construction in progress, purchase of office building, intangible assets and land use rights.

 

[7] Internet financing activities include financial products, "Jingbaobei" and "JD Baitiao", we provide to our suppliers and customers.

 

[8] As used in this press release, accounts payable turnover days for a given period are equal to average accounts payable balances at the beginning and the end of the period divided by total cost of revenues during the period and multiplied by the number of days during the period.

 

[9] As used in this press release, inventory turnover days for a given period are equal to average inventory balances at the beginning and the end of the period divided by total cost of revenues during the period and then multiplied by the number of days during the period.

For investor and media inquiries, please contact:

China

Ruiyu Li
Investor Relations
JD.com, Inc.
+86 (10) 5895-5597
[email protected]

Josh Gartner
Media
JD.com, Inc.
+86 (10) 5895-9315
[email protected]

U.S.

Cindy Zheng
Brunswick Group
+1 (212) 333-3810
[email protected]

 

JD.com, Inc.

Unaudited Condensed Consolidated Balance Sheets

(In thousands, except per share data)






As of



December 31, 2013

June 30, 2014

June 30, 2014


RMB

RMB

USD

ASSETS





Current assets:





Cash and cash equivalents


10,812,339

27,535,976

4,438,709

Restricted cash


1,887,387

3,709,251

597,919

Short-term investments


1,903,224

3,947,134

636,265

Accounts receivable, net


502,089

1,511,809

243,699

Advance to suppliers


769,765

709,118

114,307

Inventories, net


6,386,155

10,781,375

1,737,922

Prepayments and other current assets


219,102

545,687

87,962

Amount due from related parties


-

202,931

32,712

Total current assets


22,480,061

48,943,281

7,889,495






Non-current assets:





Property, equipment and software, net


1,024,428

1,882,252

303,413

Construction in progress


1,237,644

1,119,530

180,465

Land use rights, net


598,853

931,277

150,119

Intangible assets, net


215,802

7,596,230

1,224,487

Goodwill


14,649

2,622,470

422,734

Equity investments


36,502

322,390

51,968

Other non-current assets


401,873

459,016

73,992

Total non-current assets


3,529,751

14,933,165

2,407,178






Total assets


26,009,812

63,876,446

10,296,673
















LIABILITIES





Current liabilities:





Short-term bank loans


932,826

2,842,594

458,217

Accounts payable


11,018,865

15,521,155

2,501,959

Advances from customers


2,055,625

3,299,307

531,837

Deferred revenues


208,527

306,415

49,393

Taxes payable


278,256

419,378

67,602

Amount due to related parties


-

461,407

74,377

Accrued expenses and other current liabilities


2,269,798

3,144,678

506,913

Deferred tax liabilities


6,087

45,853

7,391

Total current liabilities


16,769,984

26,040,787

4,197,689






Total liabilities


16,769,984

26,040,787

4,197,689






MEZZANINE EQUITY





Series C convertible redeemable
preferred shares


7,173,263

-

-






SHAREHOLDERS' EQUITY:





Series A and A-1 convertible preferred shares


255,850

-

-

Series B convertible preferred shares


88,241

-

-

Ordinary shares (US$0.00002 par value,
1
00,000,000,000 shares authorized,
2,763,756,650 shares issued and
2,724,477,608 shares outstanding as of
June 30, 2014.)


199

354

57

Additional paid-in capital


6,251,869

46,769,696

7,539,122

Statutory reserves


2,648

2,648

427

Accumulated deficit


(4,263,624)

(8,641,302)

(1,392,950)

Accumulated other comprehensive loss


(268,618)

(295,737)

(47,672)

Total shareholder's equity


2,066,565

37,835,659

6,098,984

Total liabilities, mezzanine equity,

     and shareholders' equity


26,009,812

63,876,446

10,296,673

 

 

JD.com, Inc.




Unaudited Condensed Consolidated Statements of Operations and Non-GAAP Net Income/(Loss) Per ADS




(In thousands, except per share data)












For the three months ended






June 30,


June 30,

June 30,




2013

2014

2014



RMB


RMB

USD




Net revenues









   Online direct sales


16,895,282


27,018,303

4,355,262




   Services and others


557,884


1,594,547

257,036




Total net revenues


17,453,166


28,612,850

4,612,298













Operating expenses (1)(2)








   Cost of revenues


(15,899,888)


(25,457,621)

(4,103,685)




   Fulfillment


(978,632)


(2,001,753)

(322,676)




   Marketing


(428,216)


(1,066,020)

(171,839)




   Technology and content


(218,182)


(419,990)

(67,701)




   General and administrative


(160,557)


(455,411)

(73,411)




Total operating expenses


(17,685,475)


(29,400,795)

(4,739,312)




Loss from operations


(232,309)


(787,945)

(127,014)




Other income/(expenses)









   Interest income


96,504


154,912

24,971




   Interest expense


(3,395)


(8,302)

(1,338)




   Others, net


112,830


59,169

9,538




Loss before tax


(26,370)


(582,166)

(93,843)




   Income tax expenses


(1,949)


(364)

(59)




Net loss


(28,319)


(582,530)

(93,902)




   Preferred shares redemption value accretion

(455,894)


(6,463,766)

(1,041,938)




Net loss attributable to holders of permanent


(484,213)


(7,046,296)

(1,135,840)




equity securities



Net loss per share:









   Basic


(0.28)


(2.93)

(0.47)




   Diluted


(0.28)


(2.93)

(0.47)




Net loss per ADS:









   Basic


(0.57)


(5.86)

(0.94)




   Diluted


(0.57)


(5.86)

(0.94)













Non-GAAP net income/(loss) per ADS:








   Basic


0.04


(0.01)

(0.00)




   Diluted


0.04


(0.01)

(0.00)













Weighted average shares of permanent equity








securities used in computation of earnings




per share:




   Basic


1,706,448

2,405,564

2,405,564




   Diluted


1,706,448

2,405,564

2,405,564




-------------------------------------------








(1) Includes share-based compensation expenses as follows:  

Fulfillment


(19,938)

(33,695)

(5,432)




Marketing


(2,145)

(4,671)

(753)




Technology and content

(8,189)

(17,122)

(2,760)




General and administrative

(32,348)

(153,442)

(24,734)




(2) Includes amortization of intangible assets resulting from assets and business acquisitions as follows:




Fulfillment


(3,150)

(5,589)

(901)




Marketing


-

(305,796)

(49,293)




Technology and content

-

(5,425)

(875)




General and administrative

-

(44,951)

(7,246)




 


JD.com, Inc.

Unaudited Condensed Consolidated Statements of Comprehensive Loss

(In thousands, except per share data)




For the three months ended



June 30,

2013


June 30,

2014

June 30,

2014



RMB


RMB

USD

Net loss


(28,319)


(582,530)

(93,902)

Other comprehensive loss:






Foreign currency translation adjustments


(70,968)


(51,400)

(8,286)







Net change in unrealized gains on
     available-for-sale securities:






Unrealized gains, nil of tax


25,569


7,284

1,174







Reclassification adjustment for gains
     
included in "interest income", nil of tax


(22,912)


(12,199)

(1,966)







Net unrealized gains/(loss) on
    
available-for-sale securities


2,657


(4,915)

(792)

Total other comprehensive loss


(68,311)


(56,315)

(9,078)

Comprehensive loss


(96,630)


(638,845)

(102,980)







 

JD.com, Inc.

Selected Operating Data




For the three months ended



June 30,

2013


June 30,

2014





Active customer accounts(1) (in millions)


19.6


38.1

Orders fulfilled(2) (in millions)


72.6


163.7

GMV(3) (in RMB billions)


30.5


63.0

--------------------------------------------------------------

(1) Active customer accounts for a specified period are customer accounts that made at least one purchase during the specified period, whether through online direct sales or online marketplaces but excluding Paipai and QQ Wanggou.

(2) Orders fulfilled are defined as the total number of orders delivered, including the orders for products and services sold in our online direct sales business and on our online marketplace, net of orders returned.

(3) GMV is defined as the total value of all orders placed on our website and mobile applications, including orders for products and services placed in our online direct sales business and on our online marketplaces, regardless of whether the goods are sold or delivered or whether the goods are returned. Our calculation of GMV includes shipping charges paid by buyers to sellers and excludes any transactions in our B2C business with order value exceeding RMB2,000 that are not ultimately sold or delivered and products or services on our C2C marketplace, Paipai.com, with list prices above RMB100,000 as well as transactions conducted by buyers on Paipai who make purchases exceeding RMB1,000,000 in the aggregate in a single day.


 


JD.com, Inc.

Reconciliation of GAAP and Non-GAAP Results

(In thousands)









For the three months ended



June 30,

2013


June 30,

2014

June 30,

2014


RMB


RMB

USD

Net loss


(28,319)


(582,530)

(93,902)

Add: Share-based compensation


62,620


208,930

33,679

Add: Amortization of intangible assets resulting

         from assets and business acquisitions


3,150


361,761

58,315

Adjusted net income/(loss)


37,451


(11,839)

(1,908)







Adjusted net income/(loss) per weighted

average shares:






Basic


0.02


(0.00)

(0.00)

Diluted


0.02


(0.00)

(0.00)

Adjusted net income/(loss) per ADS:






Basic


0.04


(0.01)

(0.00)

Diluted


0.04


(0.01)

(0.00)







SOURCE JD.com

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
"My role is working with customers, helping them go through this digital transformation. I spend a lot of time talking to banks, big industries, manufacturers working through how they are integrating and transforming their IT platforms and moving them forward," explained William Morrish, General Manager Product Sales at Interoute, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
Extracting business value from Internet of Things (IoT) data doesn’t happen overnight. There are several requirements that must be satisfied, including IoT device enablement, data analysis, real-time detection of complex events and automated orchestration of actions. Unfortunately, too many companies fall short in achieving their business goals by implementing incomplete solutions or not focusing on tangible use cases. In his general session at @ThingsExpo, Dave McCarthy, Director of Products...
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, discussed the importance of WebRTC and how it enables companies to focus...
Verizon Communications Inc. (NYSE, Nasdaq: VZ) and Yahoo! Inc. (Nasdaq: YHOO) have entered into a definitive agreement under which Verizon will acquire Yahoo's operating business for approximately $4.83 billion in cash, subject to customary closing adjustments. Yahoo informs, connects and entertains a global audience of more than 1 billion monthly active users** -- including 600 million monthly active mobile users*** through its search, communications and digital content products. Yahoo also co...
A critical component of any IoT project is what to do with all the data being generated. This data needs to be captured, processed, structured, and stored in a way to facilitate different kinds of queries. Traditional data warehouse and analytical systems are mature technologies that can be used to handle certain kinds of queries, but they are not always well suited to many problems, particularly when there is a need for real-time insights.
Amazon has gradually rolled out parts of its IoT offerings in the last year, but these are just the tip of the iceberg. In addition to optimizing their back-end AWS offerings, Amazon is laying the ground work to be a major force in IoT – especially in the connected home and office. Amazon is extending its reach by building on its dominant Cloud IoT platform, its Dash Button strategy, recently announced Replenishment Services, the Echo/Alexa voice recognition control platform, the 6-7 strategic...
The best-practices for building IoT applications with Go Code that attendees can use to build their own IoT applications. In his session at @ThingsExpo, Indraneel Mitra, Senior Solutions Architect & Technology Evangelist at Cognizant, provided valuable information and resources for both novice and experienced developers on how to get started with IoT and Golang in a day. He also provided information on how to use Intel Arduino Kit, Go Robotics API and AWS IoT stack to build an application tha...
IoT generates lots of temporal data. But how do you unlock its value? You need to discover patterns that are repeatable in vast quantities of data, understand their meaning, and implement scalable monitoring across multiple data streams in order to monetize the discoveries and insights. Motif discovery and deep learning platforms are emerging to visualize sensor data, to search for patterns and to build application that can monitor real time streams efficiently. In his session at @ThingsExpo, ...
SYS-CON Events announced today that LeaseWeb USA, a cloud Infrastructure-as-a-Service (IaaS) provider, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. LeaseWeb is one of the world's largest hosting brands. The company helps customers define, develop and deploy IT infrastructure tailored to their exact business needs, by combining various kinds cloud solutions.
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
Big Data, cloud, analytics, contextual information, wearable tech, sensors, mobility, and WebRTC: together, these advances have created a perfect storm of technologies that are disrupting and transforming classic communications models and ecosystems. In his session at @ThingsExpo, Erik Perotti, Senior Manager of New Ventures on Plantronics’ Innovation team, provided an overview of this technological shift, including associated business and consumer communications impacts, and opportunities it ...
SYS-CON Events announced today that Venafi, the Immune System for the Internet™ and the leading provider of Next Generation Trust Protection, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Venafi is the Immune System for the Internet™ that protects the foundation of all cybersecurity – cryptographic keys and digital certificates – so they can’t be misused by bad guys in attacks...
It’s 2016: buildings are smart, connected and the IoT is fundamentally altering how control and operating systems work and speak to each other. Platforms across the enterprise are networked via inexpensive sensors to collect massive amounts of data for analytics, information management, and insights that can be used to continuously improve operations. In his session at @ThingsExpo, Brian Chemel, Co-Founder and CTO of Digital Lumens, will explore: The benefits sensor-networked systems bring to ...
Manufacturers are embracing the Industrial Internet the same way consumers are leveraging Fitbits – to improve overall health and wellness. Both can provide consistent measurement, visibility, and suggest performance improvements customized to help reach goals. Fitbit users can view real-time data and make adjustments to increase their activity. In his session at @ThingsExpo, Mark Bernardo Professional Services Leader, Americas, at GE Digital, discussed how leveraging the Industrial Internet a...
There will be new vendors providing applications, middleware, and connected devices to support the thriving IoT ecosystem. This essentially means that electronic device manufacturers will also be in the software business. Many will be new to building embedded software or robust software. This creates an increased importance on software quality, particularly within the Industrial Internet of Things where business-critical applications are becoming dependent on products controlled by software. Qua...
In addition to all the benefits, IoT is also bringing new kind of customer experience challenges - cars that unlock themselves, thermostats turning houses into saunas and baby video monitors broadcasting over the internet. This list can only increase because while IoT services should be intuitive and simple to use, the delivery ecosystem is a myriad of potential problems as IoT explodes complexity. So finding a performance issue is like finding the proverbial needle in the haystack.
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
Large scale deployments present unique planning challenges, system commissioning hurdles between IT and OT and demand careful system hand-off orchestration. In his session at @ThingsExpo, Jeff Smith, Senior Director and a founding member of Incenergy, will discuss some of the key tactics to ensure delivery success based on his experience of the last two years deploying Industrial IoT systems across four continents.
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and shared the must-have mindsets for removing complexity from the develo...