JD Logistics' 2024 First Half Performance Revenue Growth, Cost Improvement and Profit Surge

TapTechNews August 15th news, JD Logistics today released an announcement that in the first half of 2024, the company's total revenue reached 86.3 billion Chinese yuan, an increase of 11.0% year-on-year. Among them, the revenue from external customers was 59.9 billion Chinese yuan, an increase of 11.2% year-on-year, accounting for 69.4% of the total revenue, and the proportion of external revenue further increased compared to the same period in 2023.

TapTechNews learned from the announcement that the operating cost of JD Logistics increased by 7.1% from 72.7 billion Chinese yuan as of June 30, 2023 to 77.9 billion Chinese yuan in the same period of 2024. The percentage of operating cost to revenue decreased by 3.4 percentage points year-on-year from 93.5% to 90.2%.

Due to the combined impact of revenue growth and improved cost productivity, the gross profit of JD Logistics increased from 5 billion Chinese yuan in the six months ended June 30, 2023 to 85 billion Chinese yuan in the same period of 2024. The gross margin increased from 6.5% in the six months ended June 30, 2023 to 9.8% in the same period of 2024.

In the first half of 2024, the non-IFRS profit of JD Logistics reached 3.1 billion Chinese yuan, an increase of 2,631.2% year-on-year. JD Logistics recorded a net profit of 2.6 billion Chinese yuan for the six months ended June 30, 2024, while a net loss of 500 million Chinese yuan was recorded in the same period in 2023. The change from a net loss as of June 30, 2023 to a net profit in the same period of 2024 was mainly due to the increase in gross profit.