The quarterly turnover of the Chinese JD.com Inc rose in the third quarter by 5.1 percent, which suggests that Chinese consumers are regaining some confidence in the ailing economy that has arisen as a result of the corona crisis.
Total revenue rose to 260.4 billion yuan ($36 billion), versus an average estimate for 259.7 billion yuan. Net profit rose 48 percent to 11.7 billion yuan.
Outside the quarter was Singles Day, which generated 20 percent more orders for JD.com than a year earlier, although no revenue figures were announced.
JD Logistics and Taobao and Tmall Group (both from Alibaba) recently entered into a partnership, banning JD Logistics from the Taobao and Tmall platforms. As of mid-October 2024, the parties have largely completed the system integration. Sellers on the Taobao and Tmall platforms can therefore select JD Logistics for transportation.
Alibaba will announce its quarterly results tomorrow.
Source: www.emerce.nl
