JD.com posts first quarterly loss in nearly four years as delivery battle takes toll

Chinese e-commerce giant JD.com reported a 2.7 billion yuan (US$392 million) loss in the fourth quarter and a halving of annual profit amid an ongoing food delivery battle it ignited last year. The fourth-quarter loss contrasted with a profit of 9.9 billion yuan a year earlier, marking the company’s first quarterly loss since the start of 2022, according to its earnings results on Thursday. Profit for last year dropped nearly 53 per cent to 19.6 billion yuan. However, by non-generally accepte...

By Ben Jiang