JD.com, Inc. (NASDAQ: JD)

JD.com, Inc. is a leading supply chain-based technology and service provider operating in China's e-commerce and logistics sectors. The company enables consumers to purchase products online and offline through its integrated retail infrastructure. It also offers technology and logistics services to third-party businesses to enhance supply chain efficiency and innovation across industries.

JD.com generates revenue primarily through the sale of products via its online retail and marketplace platforms. The company earns income from product markups, sales commissions from third-party merchants, and fees for logistics, technology, and advertising services provided to partners and customers.

The company operates through the following segments: JD Retail, JD Logistics, JD Health, JD Industrials, JD Property, and New Initiatives.

• JD Retail encompasses the company's online retail and marketplace businesses, offering a wide range of product categories including electronics, home appliances, apparel, home goods, and fresh food through initiatives like 7FRESH and JD MALL.

• JD Logistics provides technology-driven supply chain solutions and logistics services, including warehousing, distribution, and last-mile delivery, operating over 1,600 warehouses with more than 34 million square meters of gross floor area as of December 31, 2025.

• JD Health is an online healthcare platform offering pharmaceutical products, healthcare services, and digital health management tools to users across China.

• JD Industrials focuses on industrial supply chain technology and services, helping customers improve supply chain reliability, reduce costs, and enhance efficiency through digitalization.

• JD Property develops and manages logistics parks, business parks, and other modern infrastructure assets, with over 27 million square meters of gross floor area under its management as of December 31, 2025.

• New Initiatives include emerging businesses such as JD Food Delivery, launched in February 2025, which focuses on user experience and operational efficiency in on-demand food delivery services.

JD.com holds a leading position in China's competitive e-commerce industry, facing rivals such as Alibaba Group and traditional retailers expanding online. Its competitive advantages stem from its integrated fulfillment infrastructure, proprietary technology in AI and big data, and strong customer service capabilities.

The company serves a broad customer base including individual consumers purchasing goods for personal use, business clients seeking logistics and technology solutions, and healthcare users accessing online medical services and products.