JD.com’s gross merchandise volume (GMV) for 2024 reached approximately 4.5 trillion RMB (620 billion USD). In its latest earnings report, the company posted 301.1 billion RMB (41.5 billion USD) in revenue for Q1 2025, a 15.8% increase from the same period last year, and the strongest quarterly growth JD has seen in nearly three years. This quarter also marked the first time JD’s food delivery service appeared in its financial results. Together with other new ventures, the segment brought in 5.75 billion RMB (794 million USD), up 18.1% year-on-year.
CEO Xu Ran said the food delivery business is on track to reach 20 million daily orders, with more than 1 million merchants already on the platform. “We see food delivery as a long-term, sustainable part of our business. Early investment is necessary, but as volume grows, so will efficiency. What matters most is that this service is fully embedded in our broader ecosystem,” Xu said.
Since 2024, JD.com founder Liu Qiangdong has returned to a more active leadership role and rolled out several ambitious initiatives:
1. Entered the food delivery space, offering zero commission to top-rated restaurants and promising to gradually provide full social insurance for full-time riders.
2. Committed 200 billion RMB to help export-focused businesses shift to the domestic market.
3. Raised employee salaries eight times in a row.
4. Launched the largest campus recruitment campaign in company history.
5. Ended outsourcing for frontline roles, with plans to hire 100,000 full-time delivery riders over the next three months, starting in May.
JD insiders say Liu’s hands-on approach has brought clear direction to key projects and boosted morale across the company.
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