HONG KONG -- Slowing economic growth and higher costs knocked Alibaba rival JD.com to its first annual loss in three years, sending its Nasdaq-listed shares down more than 18% at one point amid heavy selling in Chinese tech stocks.
Net loss attributable to ordinary shareholders for the full year of 2021 was 3.6 billion yuan ($569 million), compared to a net income of 49.4 billion yuan for 2020. JD.com reported Thursday.
