JD.com's 2025 revenue exceeds 1.3 trillion yuan, with active users surpassing 700 million

Fast Technology, March 5 — Today, JD.com released its Q4 and full-year 2025 financial results. Full-year revenue reached 1.3091 trillion yuan, a 13% year-over-year increase, accelerating to double-digit growth compared to 2024, with quarterly revenue also hitting 352.3 billion yuan, achieving both scale and growth rate improvements.

Annual active users successfully surpassed 700 million, with quarterly active users and shopping frequency both growing double digits year-over-year, as user base and shopping activity continue to rise in tandem.

Core categories show strong growth momentum, with powered-up categories maintaining market advantages, posting a 7.1% year-over-year increase in full-year revenue; daily and hundred-yuan categories have seen double-digit growth for five consecutive quarters, with a 15.3% annual increase, accounting for over 40% of merchandise revenue, reaching a new high for the year. Supermarket categories also achieved eight consecutive quarters of double-digit growth.

Service revenue performed exceptionally well, increasing 23.6% year-over-year for the full year, accounting for 21.8% of total revenue, setting a new annual high, with ongoing optimization of business structure.

New businesses and offline expansion are thriving, JD Waimai gained over 240 million orders within a year of launch, offline stores for 3C digital products and JD Car Care expanded significantly, JD Xiji’s self-operated transaction volume increased tenfold, bringing in 150 million new users.

Investment in technology R&D continues to grow, with Q4 2025 R&D spending up 66% year-over-year, cumulative R&D investment approaching 170 billion yuan by the end of 2025, with AI technology deeply integrated into over 2,000 business scenarios.

International expansion is also accelerating, with European online retail set to launch soon, overseas warehouses nearing 200, covering 25 countries worldwide.

At the same time, JD.com continues to fulfill its social responsibilities, adding over 30 billion yuan to total human resources expenditure, and planning to invest 22 billion yuan over the next five years to build “Little Brother’s Home.”