On November 13, during JD.com's earnings call for the third quarter, CEO Xu Ran offered her insights on the matter of national subsidies. She remarked that the 'national subsidy' initiative has successfully spurred consumer demand, fueling a surge in sales for home appliances and computers. While it has triggered some near-term fluctuations in industry demand, in the grand scheme of things, it has accelerated the modernization of the home appliance sector. Throughout the 'national subsidy' phase, JD.com promptly adapted to the policy, not only boosting its market presence in the home appliances and 3C (Computer, Communication, and Consumer Electronics) segments but also fortifying its supply chain prowess. Xu Ran expressed confidence in the ongoing enhancement of market share in these areas and mentioned that JD.com is committed to bolstering its internal capabilities and strategic planning, joining forces with brand partners to navigate obstacles. Moreover, JD.com's sources of growth are gradually becoming more varied. On the same day, JD.com's third-quarter 2025 performance report revealed that the company's revenue hit RMB 299.1 billion, marking a 14.9% year-on-year increase, though net profit saw a decline compared to the corresponding period in 2024.