On August 13, JD.com released its performance results for the second quarter and first half of fiscal year 2026. According to the financial report, net revenue for the second quarter was 346.4 billion yuan, a year-over-year decrease of 2.9%. Net profit attributable to ordinary shareholders of the company stood at 7.1 billion yuan, up approximately 15.4% from the same period last year.

Operating profit for the same period reached 4.5 billion yuan, compared to an operating loss of 900 million yuan in the second quarter of the previous year, marking a turnaround from loss to profit. On a Non-GAAP basis, net profit attributable to ordinary shareholders of JD.com for the second quarter was 8.9 billion yuan, an increase of about 20.8% year-over-year, with the net profit margin rising from 2.1% in the prior year's quarter to 2.6%. Non-GAAP operating profit was 5.5 billion yuan, compared to 900 million yuan last year, while the operating profit margin improved from 0.3% to 1.6%.

From a revenue structure perspective, JD.com's product revenue in the second quarter was 267.1 billion yuan, down 5.4% year-over-year. Within this, revenue from electronics and home appliances was approximately 157.9 billion yuan, a decline of 11.8%, while revenue from general merchandise stood at about 109.2 billion yuan, up 5.6% year-over-year. Service revenue increased by 6.8% to 79.3 billion yuan, with platform and advertising service revenue climbing 8.3% and logistics and other service revenue rising 5.9%.

In the core retail business, JD Retail's second-quarter operating profit was 13.48 billion yuan, with an operating profit margin of 4.6%, compared to 13.94 billion yuan and 4.5% in the same period last year. JD Logistics reported revenue of approximately 64.1 billion yuan for the quarter, up 24.3% year-over-year, with an operating profit of about 2.26 billion yuan. New business revenue was roughly 7.26 billion yuan, a 47.6% decrease year-over-year, with an operating loss of approximately 9.85 billion yuan.

On the expense side, JD.com's fulfillment costs in the second quarter rose 10.4% year-over-year to 24.5 billion yuan. Marketing expenses dropped 24.8% to 20.3 billion yuan. Meanwhile, research and development expenses increased by 37.7% to 7.3 billion yuan, accounting for 2.1% of net revenue, up from 1.5% in the prior year's quarter.

In terms of cash flow, JD.com generated 37.7 billion yuan in cash from operating activities in the second quarter, compared to 24.4 billion yuan a year earlier. Free cash flow reached 31.8 billion yuan, up approximately 44.6% from 22 billion yuan in the same period last year. As of June 30, the company held a total of 235.1 billion yuan in cash and cash equivalents, restricted cash, and short-term investments.

Additionally, JD.com disclosed that in the first half of this year, it repurchased a total of approximately 69.9 million Class A ordinary shares, equivalent to about 34.9 million American Depositary Shares, at a repurchase amount of roughly $1 billion. This represents about 2.5% of the company's issued ordinary shares as of the end of 2025.