Jingdong business growth has been significantly weak, Tencent delivery value has not been excavated

 

yesterday (November 16th) evening, Jingdong released the third quarter of 2015 earnings report, from the earnings report is clearly seen in Jingdong earnings growth has been weak. We do not talk about the pattern, only from the Jingdong itself, it can be known as "so".

GMV chain odd odd digit growth

according to the results, the total turnover of the third quarter of this year, Jingdong (GMV) reached $115 billion, an increase of 71%. If you deduct the amount of the transaction pat C2C platform, Jingdong core trading volume (Core GMV) was 111 billion yuan, an increase of 76%.

although Jingdong GMV year on year growth rate is much higher than the three quarter of this year, Ali’s growth rate of 28%, but the chain growth slowed significantly. Jingdong third quarter GMV compared with the two quarter of, an increase of only 500 million, while the first quarter of the second quarter (87 billion 800 million), an increase of 26 billion 700 million.

Although a quarter

in 2014 Beijing GMV and GMV in the two quarter of the gap between the two quarter and the three quarter is 10 billion within the distance, but never had the double-digit growth gap.

from the seasonal consumption situation, a quarter of the year has experienced double eleven and the Spring Festival for one year sales season, the two quarter of 6.18 large Jingdong will promote higher overall turnover, the three quarter is in stable period, but the three quarter of this year compared with the previous quarter, only 500 million turnover growth, what explain the

Jingdong?

third party platform is increasing

revenue side. As of September 30th, Jingdong third quarter net income of $44 billion 100 million, an increase of 52%. It is worth noting that the third quarter of services and other projects (mainly from the electronic business platform business), the rapid growth of net income, reaching 3 billion 500 million, an increase of 111%.

Jingdong and open platform business income increase, and the number of merchants settled in the third quarter increased based on the Jingdong open platform for businesses to the number of about 90000, in the past year growth almost exactly 30000 businesses.

three degrees this year, Jingdong self and the core of the GMV platform for the third parties were $61 billion 300 million and $49 billion 700 million, an increase of 52% and 2014, respectively, in the third quarter of last year and 121%. From the third quarter of last year, accounting for the proportion of Jingdong GMV platform also increased from 39.8% to the first quarter of this year, the third quarter of 43.2%. The Jingdong third party platform force works successfully.

but Jingdong is still a loss, the three quarter of this year, a net loss of $530 million 800 thousand, net profit margin of -1.2%, the loss of the face of the same period last year, has expanded, Jingdong has been a continuous loss of 8 quarters.

fortunately Jingdong in the three quarter of this year, gross profit margin has increased, to 13.8%, compared with the same period last year increased by 1.6 percentage points, compared with the previous quarter increased by 0.9 percentage points.

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