JD.com Group's revenue in 2025 is expected to grow by 13% year-over-year, with net profit reaching 19.6 billion yuan.

On March 5, JD Group released its 2025 Q4 and full-year results. Revenue in 2025 Q4 was 352.3 billion yuan, up 1.5% year over year. Full-year 2025 revenue was 1,309.1 billion yuan, up 13% year over year.

The financial report shows that in 2025 Q4, net loss was 2.7 billion yuan, compared with net income of 9.9 billion yuan in the same period last year. Under non-GAAP, net profit was 1.1 billion yuan, compared with 11.3 billion yuan in the same period last year. Net profit for full-year 2025 was 19.6 billion yuan, compared with 41.4 billion yuan in the same period last year. Under non-GAAP, net profit for full-year 2025 was 27.0 billion yuan, versus 47.8 billion yuan for full-year 2024.

Notably, JD’s user base and engagement continued to grow strongly. Data shows that annual active users in 2025 increased to more than 700 million. Quarterly active users and shopping frequency increased by more than 30% year over year.

“JD wrapped up 2025 for the full year with Q4 results that met expectations, and the full-year performance remains steady.” Xu Ran, CEO of JD Group, said, “In both Q4 and the full year, we continued to see strong growth in the number of users and an improvement in shopping frequency. Despite intense industry competition, our core retail business has demonstrated resilience, and both full-year revenue and operating profit achieved double-digit growth. Our new businesses are advancing according to strategic plans. Since its establishment, while JD Food delivery’s scale has been expanding steadily, losses have narrowed quarter by quarter. JD Joy and international businesses are also opening up new opportunities for long-term growth. In addition, we have applied AI comprehensively to internal operations and provide users with a more intelligent experience, fully unlocking its transformative potential. With our strong operational capabilities and continuously improving AI technology, we will enter 2026 with a more steady pace.”

“In Q4, JD Group’s total revenue increased 1.5% year over year. Although the categories involving powered products were affected by a high base, daily necessities and department-store goods categories, as well as platform and advertising revenue, still remained strong, achieving double-digit year-over-year growth in both this quarter and across 2025 as a whole.” Dan Su, CFO of JD Group, said, “Our revenue structure has become more diversified. As profitability improves across categories and the proportion of high-profit businesses such as advertising expands, we are confident about seeing more diverse sources of profit. Despite some short-term fluctuations in Q4, our financial position remains sound, and we met our full-year 2025 expectations.”

The financial report shows that in 2025 Q4, JD Food delivery maintained healthy development, with a steady momentum in order volume, and the order mix for food and beverage became healthier as well. In addition, the total investment scale for food delivery continued to narrow quarter over quarter. This was mainly driven by JD Food delivery’s deepening focus on user experience and mindshare, improvements in operational efficiency, and a rational response to industry competition. In Q4, the synergy between JD Food delivery and JD Retail also continued to be released steadily, achieving notable progress in user growth, increases in shopping frequency, and cross-category purchasing behavior. As of the end of Q4, Qi Xian Xiao Chu in Beijing had 30 stores officially in operation.

As JD describes, in the one year since JD Food delivery launched, it has enabled more than 240 million users to place orders, and its share of the food delivery market exceeds 15%. In Beijing, Qi Xian Xiao Chu has achieved basic coverage within the Fifth Ring in stores operating in the city. New stores in multiple locations, including Shanghai, Shenzhen, Guangzhou, Tianjin, and Harbin, have been concentratedly launched. They will cover all first- and second-tier cities by the end of 2026. “As Qi Xian Xiao Chu accelerates expansion, JD Food delivery’s market share will further increase. We hope that JD Food delivery’s market share will reach 30% in 2026.”

The offline service network continues to expand. By the end of 2025, 3C electronics stores represented by JD Home, JD Computer Digital specialty stores, and JD Phone Digital specialty stores surpassed 4,500. JD MALL has 26 stores nationwide. JD Appliance’s city flagship stores have surpassed 110. JD Auto Care stores have exceeded 4,000. JD Auchan outlet has already rolled out more than 50 stores across the country.