JD.com outperforms industry in first half

JD.com (9618) saw its adjusted interim net profit jump by 22.42 percent year-on-year to 10.52 billion yuan (HK$12.06 billion).

The revenue of the e-commerce giant for the first half increased 11 percent year-on-year to 507.3 billion yuan, and the revenue in the second quarter was 267.6 billion yuan which was up 5.4 percent year-on-year and higher than the average growth rate of the industry.

The company hasn't declared any interim dividend for the first half.

JD Health (6618), a subsidiary of JD.com, announced that its adjusted net profit for the first half soared by 82 percent to 1.21 billion yuan. Revenue increased by 48.3 percent to 20.2 billion yuan for the first six months. There will be no interim dividend.

Another subsidiary, JD Logistics (2618), said its interim loss narrowed by 90 percent to 1.46 billion yuan for the first half.

Its adjusted net loss narrowed by 61 percent to 585 million yuan. There will also be no interim dividend.

Meanwhile, Kuaishou Technology (1024) saw its net loss decline by 85 percent year-on-year to 9.43 billion yuan (HK$10.8 billion), primarily thanks to the expansion of its users.

The adjusted net loss narrowed to 5.03 billion yuan over the period, compared with a loss of 10.67 billion yuan a year ago. There will be no interim dividend for the first half.

Kingsoft (3888) swung to a net loss of 40.03 million yuan from a net profit of 165.24 million yuan in the same period last year.

The company declared that there will be no interim dividend.