On March 7th, Red Star Capital Bureau reported that yesterday evening, JD. US announced its 2023 performance. In 2023, JD Group's revenue reached 1084.662 billion yuan, a year-on-year increase of 3.7%; The net profit attributable to the parent company was 24.167 billion yuan, a year-on-year increase of 132.8%. According to the financial report, Red Star Capital Bureau found that the increased profits were more from interest and investment, rather than the main business.
Compared to the net profit attributable to shareholders of 10.38 billion yuan in 2022, JD.com earned an additional 13.787 billion yuan in 2023. Among them, the net amount of other assets turned from a loss of 1.555 billion yuan last year to a profit of 7.496 billion yuan this year, a year-on-year increase of 9.051 billion yuan, contributing 65.64% of JD's net profit attributable to shareholders in 2023. JD explained that this was mainly due to an increase in interest income and a decrease in losses related to equity investments.
JD 2023 Performance Chart Source: JD Financial Report
In addition, in terms of JD's main business, operating profit increased by 32% year-on-year from 19.723 billion yuan in 2022 to 26.025 billion yuan in 2023, and the operating profit margin increased from 1.9% in 2022 to 2.4%.
On March 6th, JD's stock price rose 16.18% to $24.91 per share. The enthusiasm for the investment market comes from JD's announced dividend and repurchase plans.
At the same time as the performance announcement, JD.com announced plans to repurchase shares worth no more than $3 billion within the next three years. Annual dividend distribution during the reporting period was 1.2 billion US dollars.
Due to doubts about the revenue of its previously merged subsidiary, Dada Group (DADA. US), JD.com incurred a non cash impairment of 4 billion yuan in goodwill and long-term assets related to Dada in 2023.
For 2024, JD Group CEO Xu Ran stated that the focus will be on improving user experience and increasing market share.
