JD.com has unveiled its financial results for the first quarter of 2026, revealing that the company’s revenue for the period climbed to RMB 315.7 billion, marking a 4.9% year-on-year increase. While merchandise revenue experienced a modest uptick, service revenue surged ahead. Specifically, JD Retail generated RMB 268.588 billion in revenue, and JD Logistics brought in RMB 60.581 billion. Despite an operating profit of RMB 3.8 billion—a decline of RMB 6.7 billion compared to the same quarter last year—JD Retail’s profitability soared to an unprecedented level.

In this quarter, JD’s investment in research and development (R&D) skyrocketed by 48.6%, reaching RMB 6.9 billion, with funds primarily allocated to bolstering technological capabilities and recruiting top talent. Logistics has emerged as a pivotal arena for technological integration, with the deployment of “Wolf Clan” robots achieving comprehensive coverage and large-scale adoption across operations. JD also announced plans to roll out 1,000 “Different Wolf” robotic arms. Concurrently, the company is actively expanding its AI talent pool and has initiated the TGT intern recruitment program.

New ventures, exemplified by its food delivery service, reported a loss of RMB 10.4 billion this quarter. However, the loss mitigation efforts have proven effective, with signs of a return to profitability emerging in the first quarter. Furthermore, JD Health, JD Logistics, and JD Industrial have outlined plans to repurchase shares valued at RMB 1 billion, RMB 1.2 billion, and USD 200 million, respectively.

Overall, JD’s core business has showcased remarkable resilience, while its newer ventures are steadily gaining traction. Nevertheless, there remains a pressing need to refine the profit structure and foster the stable growth of these emerging businesses.