JD(09618)2022-05-17 10:39Financial Performance - For Q1 2022, JD.com reported revenue of RMB 239.7 billion (USD 37.8 billion), an increase of 18.0% compared to Q1 2021[4] - Service revenue for Q1 2022 was RMB 35.2 billion (USD 5.6 billion), up 26.3% year-over-year[4] - Operating profit for Q1 2022 was RMB 2.4 billion (USD 0.4 billion), compared to RMB 1.7 billion in the same period last year[4] - Net loss attributable to ordinary shareholders for Q1 2022 was RMB 3.0 billion (USD 0.5 billion), down from a net profit of RMB 3.6 billion in Q1 2021[4] - Total revenue for Q1 2022 was RMB 239.7 billion, representing a 18% increase from RMB 203.2 billion in Q1 2021[32] - The net profit attributable to ordinary shareholders for the three months ended March 31, 2022, was RMB 4,032 million, a decrease from RMB 3,968 million in the same period of 2021, indicating a decline of approximately 1.6%[40] - Non-GAAP operating profit for the three months ended March 31, 2022, was RMB 4,652 million, compared to RMB 3,502 million for the same period in 2021, reflecting a growth of about 32.8%[39] - The total operating profit for the company was RMB 2.409 billion, an increase from RMB 1.660 billion in the same quarter of the previous year, marking a growth of 45.0%[21] User Growth - Annual active user count increased by 16.2% to 580.5 million as of March 31, 2022, from 499.8 million a year earlier[5] - The number of annual active users reached 580.5 million in Q1 2022, up from 569.7 million in Q4 2021[37] Cash Flow and Assets - Cash flow from operating activities for the twelve months ended March 31, 2022, was RMB 46.3 billion (USD 7.3 billion), up from RMB 36.6 billion in the previous year[5] - The company had cash and cash equivalents totaling RMB 186.1 billion (USD 29.4 billion) as of March 31, 2022[18] - Free cash flow for Q1 2022 was RMB -8.8 billion (USD -1.4 billion), compared to RMB -9.7 billion in Q1 2021[18] - JD.com reported a significant increase in cash and cash equivalents to RMB 90 billion at the end of Q1 2022, up from RMB 75.5 billion at the end of Q1 2021[36] - Total current assets decreased slightly to RMB 289,229 million as of March 31, 2022, from RMB 299,672 million on December 31, 2021, indicating a decline of about 3.5%[29] - The company’s total assets increased to RMB 512,185 million as of March 31, 2022, from RMB 496,507 million on December 31, 2021, representing a growth of approximately 3.2%[31] Operating Costs - The operating cost increased by 18.5% to RMB 206.2 billion (USD 32.5 billion) in Q1 2022, up from RMB 174.1 billion in Q1 2021[14] - Fulfillment expenses rose by 12.2% to RMB 15.5 billion (USD 2.4 billion), accounting for 6.5% of revenue, compared to 6.8% in the previous year[14] - Operating expenses for Q1 2022 included RMB 15.5 billion in fulfillment expenses and RMB 8.7 billion in marketing expenses[32] Strategic Initiatives - JD.com has partnered with Midea Group to provide diversified commercial products and high-quality engineering services for enterprise customers[9] - In Q1 2022, JD.com welcomed several high-end brands, including Qeelin, Lanvin, and Tory Burch, to its platform[8] - JD Health established an internet hospital in Cangzhou, Hebei, to enhance medical services and digital innovation[10] - JD Logistics launched two international routes in March 2022, enhancing its overseas warehousing and logistics network[11] - The company plans to continue expanding its market presence and investing in new technologies to enhance user experience[32] - JD.com plans to continue investing in new technologies and product development to drive future growth[24] Financial Metrics and Ratios - JD.com emphasizes the limitations of non-GAAP financial metrics, urging stakeholders to consider all financial indicators for a comprehensive assessment of performance[28] - Non-GAAP net profit margin for the three months ended March 31, 2022, was 1.7%, down from 2.0% in the same period of 2021[40] - Non-GAAP EBITDA for the three months ended March 31, 2022, was RMB 6,066 million, compared to RMB 4,940 million for the same period in 2021, marking an increase of about 22.8%[39] - The non-GAAP operating profit margin for the three months ended March 31, 2022, was 1.9%, slightly up from 1.7% in the same period of 2021[39] Shareholder Information - The company repurchased approximately 5 million American depositary shares for about RMB 1.8 billion (USD 0.3 billion) under its share repurchase program[19] - The management will hold a conference call on May 17, 2022, to discuss the financial performance for Q1 2022, indicating ongoing communication with investors[23]