JD.com Reports First Quarterly Loss in Four Years
京东四年来首次出现季度亏损
Chinese e-commerce giant JD.com reported a net loss of 2.7 billion yuan (about US$392 million) in the fourth quarter, its first quarterly loss since early 2022. The result sharply contrasts with a profit of 9.9 billion yuan recorded in the same period a year earlier. The company said fierce competition in the food delivery market—an area it entered aggressively last year—significantly increased costs and weighed on profitability. As a result, JD.com’s annual profit fell nearly 53 percent to 19.6 billion yuan in 2025. During a post-earnings call, executives said the company plans to reduce investment in its food delivery operations this year while focusing on improving efficiency and stabilizing earnings.
中国电商巨头京东在第四季度录得27亿元人民币（约3.92亿美元）的净亏损，这是自2022年初以来首次出现季度亏损。相比之下，该公司去年同期实现了99亿元人民币的利润。公司表示，去年大举进入外卖市场后，激烈的竞争显著推高了成本并拖累了盈利能力。因此，京东2025年全年利润同比大幅下降近53%，至196亿元人民币。在财报电话会议上，公司高管表示，今年将减少对外卖业务的投资，同时专注于提升运营效率并稳定盈利表现。
