JD Group-SW's net profit attributable to ordinary shareholders in the third quarter was 11.731 billion yuan, an increase of 47.82% year-on-year, with both gross margin and non-GAAP net profit margin achieving healthy growth

According to the Zhitong Finance APP, JD Group-SW (09618) released its performance for the third quarter of 2024. The group achieved total revenue of RMB 260.387 billion in the third quarter of 2024, an increase of 5.12% year-on-year; the net profit attributable to ordinary shareholders was RMB 11.731 billion, an increase of 47.82% year-on-year; basic earnings per share were RMB 4.02. In the first three quarters of 2024, total revenue reached RMB 811.833 billion, an increase of 4.27% year-on-year; the net profit attributable to ordinary shareholders was RMB 31.505 billion, an increase of 51.63% year-on-year; basic earnings per share were RMB 10.44. "In the third quarter, with the overall consumer confidence recovering, JD's revenue growth accelerated, and profit levels remained healthy," said Ms. Xu Ran, CEO of JD Group. "In this quarter, we fully leveraged the leading supply chain and fulfillment infrastructure capabilities accumulated over the past twenty years to support the national old-for-new project. At the same time, by continuously enhancing user experience and user perception, we drove strong growth in the daily necessities category this quarter. Our efforts in user engagement were also reflected in the positive response from users during this year's 11.11 shopping festival. We believe that JD has established a solid foundation for sustainable future operations and financial development." "In the third quarter, we achieved a year-on-year revenue growth of 5.1%, with the electronics and home appliances categories regaining growth momentum, and the daily necessities category continuing to maintain a strong trend," said Mr. Shan Su, CFO of JD Group. "As we continue to refine our supply chain capabilities, enhance economies of scale and operational efficiency, JD Group's gross margin and non-GAAP net profit margin both achieved healthy growth in the third quarter. Additionally, we completed the stock repurchase plan announced in March this year and initiated a new $5 billion stock repurchase plan effective until the end of August 2027, further highlighting JD's firm commitment to shareholder returns. This series of achievements is attributed to our progress in user growth and engagement, price competitiveness, and platform ecosystem. In the future, we will continue to create long-term value for users, business partners, and shareholders." For the three months ended September 30, 2024, the company repurchased approximately 31 million Class A ordinary shares (equivalent to 15.5 million American Depositary Shares) for a total of approximately $390 million. For the nine months ended September 30, 2024, the company repurchased approximately 255 million Class A ordinary shares (equivalent to 128 million American Depositary Shares) for a total of approximately $3.6 billion. All such ordinary shares were repurchased from NASDAQ and the Hong Kong Stock Exchange in accordance with the company's announced share repurchase plan. As of September 30, 2024, the total number of ordinary shares repurchased by the company in the three months was approximately 1.1% of its outstanding ordinary shares as of June 30, 2024. As of September 30, 2024, the total number of shares repurchased by the company in the nine months was approximately 8.1% of its outstanding ordinary shares as of December 31, 2023