JD-SW (09618, JD.US) announced its Q3 2025 financial results on November 13. The company's sustained investment in its super supply chain has driven innovation, reinforcing its core retail business and supporting steady growth in new ventures like food delivery. Both active users and shopping frequency showed robust expansion, benefiting producers and consumers alike.

Revenue for the quarter reached RMB 299.1 billion (approximately $42 billion), up 14.9% year-over-year (YoY), exceeding expectations. The core retail business demonstrated strong market positioning: daily necessities sales grew 18.8% YoY—four times the industry average—while supermarket categories maintained double-digit growth for seven consecutive quarters. Apparel and footwear sales expanded at eight times the sector's pace. New businesses, including food delivery, surged 214% YoY with accelerated sequential growth. Service revenue jumped 30.8% YoY, hitting a two-year high and contributing 24.4% of total revenue, reflecting the super supply chain's widening industrial impact.

"User base and purchase frequency sustained vigorous growth, with annual active users surpassing 700 million in October—a new milestone," said Ms. Xu Ran, CEO of JD-SW. "Our core retail business has built a complementary multi-engine growth matrix. Despite headwinds in electronics from trade-in program comparisons, we’re confident in maintaining leadership while unlocking potential in daily goods and ad services. JD Food Delivery continues scaling synergies with retail while narrowing losses through improved unit economics. All businesses are progressing steadily, poised to unleash long-term ecosystem potential."

**Super Supply Chain Fuels Domestic Circulation, Promotes Industry Health** During the 2025 "JD 11.11" shopping festival, GMV and order volume hit record highs, with users and orders up 40% and nearly 60%, respectively. This performance stemmed from JD’s super supply chain, which stimulates demand through innovative supply, fostering production-distribution-consumption synergy. Q3 saw fivefold growth in customized new products across appliances, cosmetics, and 3C categories. JD Supermarket’s exclusive offerings exceeded 10,000 SKUs, with GMV up over 80%. The platform also launched JD FASHION branding for enhanced shopping certainty and introduced 30+ specialty drugs, cementing its position as the premier new-medicine launchpad.

JD’s omnichannel strategy expanded, with 4,000+ 3C stores, 20+ JD MALLs, 100+ flagship appliance outlets, and nearly 3,000 auto service locations by quarter-end. The super supply chain’s innovation mitigates price wars, fostering sustainable offline growth. JD Food Delivery now partners with 2 million premium restaurants; top 300 brands saw 13x daily order growth during 11.11 versus their debut month. Fresh-prepared meal service "7FRESH Kitchen" boosted nearby restaurant orders by 12%. Travel bookings surged nearly 8x for hotels and 6x for flights during the festival, while home services now cover 111 cities with 50,000+ cleaners.

**AI-Integrated Super Supply Chain Serves Diverse Sectors** JD’s super supply chain reflects 18 years of logistics investment and an 8-year tech transformation. Infrastructure assets totaled RMB 174.3 billion in Q3. Its proprietary "Zhilang" warehouse automation system is scaling nationally post-618/11.11 stress tests. JD Logistics plans to deploy 3 million robots, 1 million unmanned vehicles, and 100,000 drones in five years. Global shipping expanded to 13 countries, with direct coverage across 36 regions.

Since 2017, cumulative R&D spending approached RMB 160 billion. At the 2025 JD Discovery Conference, JD Technology pledged three-year investments to cultivate a trillion-yuan AI ecosystem. Industrial applications include JD Health’s "AI Hospital 1.0"—the sector’s first AI-powered diagnosis-treatment-pharmacy loop—and JD Industry’s "JoyIndustrial" model, targeting trillion-yuan cost savings for manufacturing sectors like automotive and energy.

**Empowering Producers and Consumers** Ranked 44th on Fortune’s Global 500 (up from 366), JD-SW has made the list for ten years. It topped China’s Top 500 Private Enterprises for four years and led in job creation. Recognized as Forbes’ "Best Employer" for nine years—the only Chinese retailer listed—JD provides full benefits to all frontline staff, including food delivery riders (RMB 2,000 monthly insurance coverage per rider).

Following Q2’s launch of a 1-million-mu (≈66,667 hectares) farmland initiative, Q3’s "Agricultural Products Festival" subsidized 600+ categories across nearly 10,000 merchants. JD’s philanthropic arm partnered with aging-care foundations to upgrade elderly-friendly products and services via supply chain collaborations.

As a supply chain-driven tech-service enterprise, JD’s super supply chain represents a transformative innovation enhancing industrial resilience, shared value creation, and real-economy support.