--- title: "BRIEF: JD.com profit tumbles on surging marketing expenses" type: "News" locale: "zh-HK" url: "https://longbridge.com/zh-HK/news/286242047.md" description: "京東；於週二宣佈，第一季度淨利潤同比下降 53.2%，降至 51 億元人民幣（7.51 億美元），非 GAAP 利潤下降約 42%，降至 74 億元人民幣。儘管總收入同比增長 4.9%，達到 3160 億元人民幣，但由於在新業務上的重投資，尤其是京東食品配送服務，導致利潤下降。營銷費用同比激增 45.8%，達到 154 億元人民幣。" datetime: "2026-05-13T10:30:47.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/286242047.md) - [en](https://longbridge.com/en/news/286242047.md) - [zh-HK](https://longbridge.com/zh-HK/news/286242047.md) --- # BRIEF: JD.com profit tumbles on surging marketing expenses E-commerce giant **JD.com Inc**. (9618.HK; JD.US) **announced** on Tuesday that its net profit for the first quarter fell 53.2% year-on-year to 5.1 billion yuan ($751 million), while its non-GAAP profit fell about 42% to 7.4 billion yuan. The company’s total revenue for the quarter rose 4.9% year-on-year to 316 billion yuan. Revenue from its JD Retail division increased 1.8%, while JD Logistics (2618.HK) revenue jumped 29% and new businesses revenue rose 9.1%. The company attributed the profit decline to heavy investment in new businesses, most notably its year-old JD Food Delivery service. Marketing expenses surged 45.8% year-on-year to 15.4 billion yuan due to higher promotional spending, while fulfillment expenses rose 18.5% to 23.4 billion yuan amid continued investment in logistics and labor. JD said its food delivery business continues to improve since its launch a year ago, benefiting from higher operating efficiency and more diversified revenue streams. The company added that average order profitability continued to improve, while the overall scale of its investment narrowed significantly from the previous quarter. JD.com CEO Sandy Xu said the company’s annual active customer accounts reached a record high during the quarter, with both user scale and shopping frequency posting strong growth, reflecting deeper synergies across JD’s ecosystem. She added that JD Retail achieved its highest-ever first-quarter profitability, while losses in new businesses improved significantly from the previous quarter. JD’s stock opened higher on Wednesday in Hong Kong and closed at HK$126.7 by the midday break, up 7.01%. The stock is up about 13.9% year-to-date. _By Lee Shih Ta_ _To subscribe to Bamboo Works weekly free newsletter, click_ _here_ ### 相關股票 - [JD.US](https://longbridge.com/zh-HK/quote/JD.US.md) - [09618.HK](https://longbridge.com/zh-HK/quote/09618.HK.md) - [KJD.US](https://longbridge.com/zh-HK/quote/KJD.US.md) - [02618.HK](https://longbridge.com/zh-HK/quote/02618.HK.md) - [89618.HK](https://longbridge.com/zh-HK/quote/89618.HK.md) ## 相關資訊與研究 - [中國出手遏制外賣價格戰後 京東利潤好於預期](https://longbridge.com/zh-HK/news/286175410.md) - [外賣投入虧損擴大 + 國家監管局罰款 京東 Q1 淨利潤年減 53%](https://longbridge.com/zh-HK/news/286086104.md) - [【京東系】京東首季經調整少賺 42% 仍勝預期，系內 3 企公佈回購計劃，股價齊急升可以點部署？](https://longbridge.com/zh-HK/news/286237497.md) - [京東 Q1 財報超預期！小摩：市場嚴重低估盈利潛力 目標價看 38 美元](https://longbridge.com/zh-HK/news/286221161.md) - [京東︰下半年帶電商品增速收入有望回升，外賣業務最終一定會實現盈利](https://longbridge.com/zh-HK/news/286178893.md)