JD’s Q2 financial report suggested a healthy market growth
Posted On August 14, 2019
Thanks to the surging demand from lower-tier cities in China, and despite the forecast of a slowdown in economic growth, the e-commerce sector has shown some positive revenue reports which include JD’s Q2 figures. The tech titan reported its Q2 net revenue of RMB150.3 billion ($21.9 billion), up 22.9% on the year, which billowed its stock market performance closing 12.9% higher overnight. JD and Alibaba sales grew by 26.6% and 38.5% respectively over the shopping promotion period in the mid of June, and this better-than-expect outcome has increased the confidence and strength to investors.