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Retail Trade, Inc.

Company Background is China's No. 2 e-commerce company, behind the Alibaba Group Holding. It was founded in 1998 and is headquartered in Beijing. When the company went public on the U.S. Nasdaq market in May 2014, it raised $1.78 billion, the largest sum ever garnered by a Chinese company in an initial public offering in the U.S. Richard Liu Qiangdong, who graduated from Renmin University of China, in Beijing, in 1996, started the business. It began as a sales agent for CD-ROMs. The company became an online mail-order house in 2004. It expanded its business as the Internet and rising incomes took hold in China.


As Alibaba is by far the largest player in China's online retail market, enlisted the help of Tencent Holdings, one of China's big three Internet players and the operator of the wildly popular WeChat app. hopes to woo some 400 million WeChat users. Tencent purchased a stake of about 15% in in the spring of 2014.


In May 2015, bought a 27.5% interest in the operator of a major Chinese travel website for $350 million and became its leading shareholder as part of a strategy to expand into new business sectors.

Business Summary, Inc. is a technology-driven E-commerce company. It engages in the sale of electronics products and general merchandise products, including audio, video products, and books. It operates through the following segments: JD Retail, JD Logistics, and New Businesses. The JD Retail segment offers online retail, online marketplace, and marketing services. The JD Logistics segment includes internal and external logistics businesses. The New Businesses segment is composed of JD Property, Jingxi, overseas businesses and technology initiatives. The company was founded on June 18, 1998 by Qiang Dong Liu and is headquartered in Beijing, China.

Financial Highlights

Dec 2021 HKDUSD
Gross Profit153,759.60M19,781.65M
Operating income4,066.38M523.15M
Income before tax2,817.78M362.51M
Net income-4,290.55M-551.99M
Diluted EPS-1.38-0.17
Dividends Per Share00
Total Assets607,359.94M77,903.61M
Total liabilities305,477.56M39,182.37M
Total equity255,553.64M32,778.83M
Operating cash flow45,943.84M5,910.82M
Currency in HKDCurrency in USD

Historical Data

 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 417,799.99M 547,241.10M 654,143.35M 838,052.63M 1,146.86B
Gross Profit 56,543.83M 75,979.91M 94,355.56M 121,151.37M 153,759.60M
Operating income -963.37M -3,075.80M 5,794.50M 12,016.85M 4,066.38M
Income before tax 2,361.15M -1,493.09M 17,497.18M 52,282.57M 2,817.78M
Net income 134.70M -2,951.22M 13,815.81M 55,516.32M -4,290.55M
EBITDA 3,773.86M 3,295.29M 12,464.61M 19,130.00M 11,884.58M
Diluted EPS -0.05 -0.95 4.48 17.79 -1.38
Dividends Per Share -- -- -- 0 0
Total Assets 220,947.92M 238,522.63M 290,525.74M 500,681.39M 607,359.94M
Total liabilities 158,058.15M 150,911.11M 177,967.93M 237,920.85M 305,477.56M
Total equity 62,472.15M 68,160.25M 91,563.71M 222,358.87M 255,553.64M
Operating cash flow 30,968.13M 24,733.08M 27,970.23M 47,456.84M 45,943.84M
 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 53,613.47M 69,823.02M 83,487.78M 108,052.23M 147,548.32M
Gross Profit 7,255.89M 9,694.35M 12,042.52M 15,620.35M 19,781.65M
Operating income -123.62M -392.44M 739.54M 1,549.36M 523.15M
Income before tax 302.99M -190.50M 2,233.15M 6,740.92M 362.51M
Net income 17.28M -376.54M 1,763.30M 7,157.85M -551.99M
EBITDA 484.27M 420.44M 1,590.84M 2,466.47M 1,528.98M
Diluted EPS -0.00 -0.12 0.57 2.29 -0.17
Dividends Per Share -- -- -- 0 0
Total Assets 28,263.96M 30,465.19M 37,286.08M 64,571.97M 77,903.61M
Total liabilities 20,219.02M 19,275.05M 22,840.41M 30,684.22M 39,182.37M
Total equity 7,991.52M 8,705.73M 11,751.29M 28,677.22M 32,778.83M
Operating cash flow 3,973.93M 3,155.71M 3,569.81M 6,118.73M 5,910.82M

Valuation Measures

Dec 2021
Operating margin0.35%
Profit margin-0.37%

Key executives

  • President, CEO & Executive Director: Lei Xu
  • Director-Strategy & Operations: Nan Li
  • Chief Financial Officer: Ran Xu
  • Chief Compliance Officer: Cheng Feng He
  • Senior Vice President: Sheng Li Hu


  • Walmart, Inc. (10.8%)
  • The Vanguard Group, Inc. (2.7%)
  • Tencent Holdings Ltd. (2.6%)
  • BlackRock Fund Advisors (1.9%)
  • Krane Funds Advisors LLC (0.7%)
  • Baillie Gifford & Co. (0.6%)
  • JPMorgan Asset Management (Asia Pacific) Ltd. (0.6%)
  • FIL Investment Management (Hong Kong) Ltd. (0.6%)
  • JPMorgan Asset Management (UK) Ltd. (0.5%)
  • First Sentier Investors (Hong Kong) Ltd. (0.5%)

Contact Details

  • Website:
  • Address: No. 18 Kechuang 11 Street, 20th Floor, Building A, Beijing, 101111, China
  • Phone: +86.10.8911.8888

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Last Updated on 18 Aug, 2022

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