Zhitong Finance App Xun,$JD-SW (09618.HK)$Announcing the results for the year ended December 31, 2023, the Group achieved total revenue of 1084.662 billion yuan (RMB, same below), up 3.67% year on year; net profit of 23.257 billion yuan, up 139.99% year on year; profit attributable to shareholders of 24.167 billion yuan, up 132.82% year on year; basic income per share of 7.69 yuan; and proposed annual cash dividend of $0.38 per common share.

In addition, the group achieved revenue of 306.1 billion yuan in the fourth quarter of 2023, up 3.6% year on year; operating profit under non-US GAAP increased 7.5% from 7.3 billion yuan in the fourth quarter of 2022 to 7.8 billion yuan in the fourth quarter of 2023; profit attributable to shareholders was 3.4 billion yuan, up 11.8% year on year.

The company also announced the adoption of a new share repurchase plan, according to which the company can repurchase shares worth no more than $3 billion (including American depository shares) within the next 36 months up to March 2027.

According to reports, the group has achieved the following business highlights:

JD Retail: In 2023, JD's 11.11 sales volume, order volume, and number of users all reached new highs. Among them, the total number of viewers of the “no pit fee, no commission for talent, just cheaper” JD's marketing live broadcast exceeded 380 million. At the same time, activities such as “9 yuan 9 free shipping”, “JD 10 billion subsidy”, and “JD flash sale” have created more sales growth markets for brands and merchants.

JD Health: In the fourth quarter, JD Health fully promoted the instant retail business, improving the omni-channel layout by opening its own offline pharmacies. JD Health has set up a number of self-operated community pharmacies in Beijing, launched a “24-hour drug collection window” service, and equipped each pharmacy with full-time riders to provide users with efficient and convenient instant purchase and delivery services, and also complement the community's “15 minute life circle” professional medical and health service scene.

JD Logistics: In the fourth quarter, JD Logistics provided integrated supply chain solutions for more Chinese overseas brands and global customers. For example, JD Logistics effectively allocates product inventory for a leading Chinese technology company in Europe to achieve rapid delivery of orders in core European countries and regions. In addition, relying on a variety of self-developed warehouse automation equipment and rich operating experience, JD Logistics helped a well-known water cup brand in the US effectively improve contract fulfillment efficiency during the Black Friday promotion season.

“As revenue and profitability improved in the fourth quarter, we are happy to end 2023 on a strong momentum,” said Ms. Xu Ran, CEO of JD Group. “The proactive adjustment measures taken by JD have paid off. A clear and firm strategic focus on user experience, price competitiveness, and platform ecology has brought us deeper, higher frequency user engagement, and healthier user growth trends. In 2024, we will focus on improving user experience and increasing market share to create more value for users, business partners, and shareholders.”

“JD delivered steady financial results in the fourth quarter and the full year of 2023, and the ultimate pursuit of 'how fast and saving' was highly recognized by users,” said Mr. Shan Su, chief financial officer of JD Group. “Our core categories, such as home appliances and 3C, continued to outperform the industry, and the daily necessities category returned to a growth trajectory in the fourth quarter. Thanks to strong profitability and balance sheets, we are committed to giving back to our shareholders through annual cash dividends and share repurchases.”