In recent JD current affairs, the Logistics Company celebrated its eighth anniversary, launched the Family Doctor program, and finally reported earnings of the second quarter of 2020. Concerning the company’s earnings, JD Logistics reported a rise of 33.8% YOY, plus a net revenue of up to 28.5 billion US dollars. This increase is quite commendable since it is one of the highest witnessed in the last nine quarters. Healthcare and supermarkets were among the top categories in the 2020 quarter. The annual active customers for the previous year showed an increase of up to 29.9% YOY, and it was one of the highest figures in the last 11 quarters.
Sandy Xu, who is the CFO of JD Logistics Company, shared her findings. She reported that most of the Q2 new users were from the low-tier cities, and they recorded one of the highest figures in history. The CFO attributed this growth to the sustainable increase in user engagement in these low-tier cities. Sandy Xu was confident that JD Logistics’ commitment to investing in these cities using its logistics network a few years ago was finally paying off.
JD Company has also made it possible for consumers in the low-tier cities to purchase their products using the JD app and their social e-commerce platform known as Jingxi. The logistics company is also seeking ways of making suitable products available for consumers by working with several industrial belts in China. In this JD current affairs issue, the company was mentioned as one of China’s largest supermarkets and one of the Chinese citizens’ favorite grocery stores. Although mobile phones, computers, and other home appliances performed well in the 2020 earnings, they were surpassed by fresh produce and other FMCG products featured in the supermarkets’ category that showed the highest revenue in the first half of 2020.
The CFO attributes the outstanding performance of JD Logistics Company during the earnings of the second quarter of 2020 to the brand partners’ and customers’ recognition and trust in the company as one of the best and reliable providers of essential services. Reports submitted for June 30, 2020, showed that over 10,000 JD brands achieved a YOY turnover growth of up to 100%, while other 5,000 brands witnessed a YOY turnover growth of up to 300%. JD Logistics intends to invest in different new categories in the coming years.
According to the JD CEO, Richard Liu, the company plans on investing in categories that will offer a long-term strategic value by combining capability, long-term business value, scope, and scale. He added that JD would continue to invest in infrastructure, supply chains, and lower-tier cities. JD Health also witnessed strong growth in online pharmacy sales and realized a 400% YOY growth in online medical consultation service volume as more people adopted this service.
While discussing the JD current affairs, Lei Xu, the retail CEO of JD, stated that the company’s pharmaceutical retailer is one of the largest in the healthcare industry in China. JD Health announced a new JD Family Doctor initiative program a day after the earnings call. This program would enable up to eight family members to access a high-quality medical service package at the best prices. The medical package would provide some of the best medical services, and it would help supplement China’s public health resources. Besides, it will enable JD Logistics to use its existing resources and technology to improve the welfare of its citizens. This JD Family Doctor package will allow individuals to manage their health and the health of their family members residing in far countries.
According to Fortune Magazine, JD.com is among the recent prominent Chinese technology companies alongside Alibaba and Tencent. JD Company also took the 102nd position on the Fortune Global 500 list. Finally, the CEO of JD Logistics sent his congratulatory message to all his employees through a letter. The CEO speaks of upgrading JD Logistics’ organizational structure, mission, and vision in the letter. The CEO hopes that JD Logistics will become one of the leading logistics companies and global supply chains.
