JD.com retail drives growth through offline expansion and services

JD Retail posted fourth-quarter operating income of $1.4b.

JD.com’s retail arm continued its expansion in offline retail and AI integration during the fourth quarter of 2025, reporting steady revenue growth and solid full-year performance.

The company posted Q4 net revenue of $150.4b (RMB352.3b), up 1.5% year-over-year, and full-year revenue of $187.2b (RMB1,309.1b), a 13% increase from 2024, driven by strong performance across its retail and technology services.

JD Retail posted fourth-quarter operating income of $1.4b (RMB 9.8b), slightly below (RMB 10b) in the same period last year, with an operating margin of 3.2%. For the full year, operating income rose to $7.4b (RMB51.4b) from RMB 41.1b, with a margin of 4.6%.

JD Retail strengthened its presence in electronics and home appliances with the opening of its first JD MALL in Xiamen, Fujian Province.

The company also launched JD Appliance City Flagship Stores in 15 cities, including Shanghai, Jinan, Qingdao, Luoyang, and Shantou. By the end of 2025, JD MALL operated 26 stores nationwide, while JD Appliance City Flagship Stores exceeded 110.

The company also expanded its 3C product stores, including JD Home, JD Computer & Electronics Specialty Stores, and JD Mobile & Electronics Specialty Stores, surpassing 4,500 locations by year-end.

Meanwhile, JD Fashion’s on-demand retail service onboarded over 1,000 merchants, featuring leading domestic retailers and popular brands such as Topsports, ANTA, Li-Ning, ERKE, Bosideng, and XTEP. The number of operational stores grew triple digits year-on-year, covering apparel, footwear, underwear, beauty, and sports & outdoor categories.

JD has embedded AI into its “Super Supply Chain.” By the fourth quarter, over 50,000 merchants were using JD’s AI-powered digital human JoyStreamer. Its AI customer service system handled more than 4.2 billion inquiries during the 2025 11.11 Grand Promotion. Internally, more than 50,000 AI agents enhanced business insights and operational efficiency.

JD also launched JoyInside, an AI agent for robots, toys, and devices, partnering with over 40 hardware brands.

Sales of JoyInside-integrated products during the 11.11 promotion surged over 20 times compared with the 618 Grand Promotion.