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JD Logistics (2618) investor relations material
JD Logistics Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Q2 2025 revenue reached RMB51.56 billion, up 16.6% year over year, and H1 2025 revenue rose 14.1% to RMB98.5 billion, driven by integrated supply chain and international expansion.
Net profit for H1 2025 increased 15.3% to RMB3.0 billion, with non-IFRS profit up 7.1% to RMB3.3 billion.
External customer revenue rose 10.2% year over year, with notable growth in ISV and ISC customer segments.
Overseas expansion included new warehouses in multiple countries and the launch of Joy Express in Saudi Arabia.
No interim dividend was declared for the period.
Financial highlights
IFRS profit for Q2 2025 was RMB2.35 billion, up 4.6% year over year, with a margin of 4.2%.
Non-IFRS profit for H1 2025 was RMB3.3 billion, up 7.1% year over year; non-IFRS EBITDA reached RMB9.5 billion.
Gross profit margin for H1 2025 was 9.0%, down from 9.8% in H1 2024; Q2 2025 gross profit margin was 10.6%.
Free cash inflow for H1 2025 was RMB0.3 billion, down from RMB1.4 billion in H1 2024.
Basic earnings per share for H1 2025 was RMB0.41, up from RMB0.36 year over year.
Outlook and guidance
Focus on strengthening integrated supply chain logistics, expanding global footprint, and investing in technology and infrastructure.
Overseas warehouse floor area projected to double within the year, enhancing operational efficiency.
Long-term gross margin expected to improve as customer experience and product offerings advance.
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