On August 13, Beijing time, JD.com (09618, JD.US) released its second quarter and first half 2026 results. New production factors like AI have sparked a wave of innovation in the supply chain and product offerings, further highlighting the advantages of JD's super supply chain. Diversified lifestyle services around home, health, and travel needs have driven increased user activity.
In the second quarter of 2026, JD.com reported revenue of RMB 346.4 billion (USD 51.1 billion). Its market position in electronics and home appliances remained strong, while daily necessities and general merchandise categories continued to grow steadily. Service revenue reached RMB 79.3 billion, accounting for 22.9% of total revenue, up from the previous period. Notably, service revenue from home-related scenarios grew by 69.6% year-over-year. For the first half of 2026, total revenue was RMB 662.1 billion (USD 97.6 billion), with service revenue increasing by 12.9% year-over-year. Growth across various service businesses was robust: JD Logistics revenue grew 26.5%, JD Health service revenue rose 17.2%, and JD Industrial service revenue increased 16.3% year-over-year.
As of the end of the second quarter, JD's annual active users, quarterly active users, and JD PLUS membership all achieved double-digit growth year-over-year. JD.com continued to increase its investment in technology research and development, with R&D spending in the JD system growing by 53% year-over-year in the first half of 2026.
"Our second-quarter performance demonstrates our resilient and high-quality operational results," said Ms. Sandy Xu, CEO of JD.com. "While revenue growth faced some temporary headwinds, profitability improved significantly, marking a clear inflection point in our earnings trajectory. This profit improvement was primarily driven by the solid profitability of our core JD Retail business and the continued narrowing of losses in our JD Now food delivery business. These results are a strong testament to the resilience of our supply chain-based business model and our team's focus on operational efficiency. In the second half of the year, we will build on these strengths, continue to drive growth, and further unlock our potential."
Smart Products Fuel Consumer Spending, Omnichannel Integration Unlocks Demand
In the first half of the year, price increases in electronic products dampened consumer sentiment, temporarily suppressing some consumption demand. JD's unique advantages become even more pronounced during periods of uncertainty. As the construction of its omnichannel sales network further unlocks consumption potential, and AI technology drives product innovation in electronics and consumer goods, JD's market position has further solidified. According to the "2026 '618' Online Consumption Data Review," JD maintained the top market share in the 3C digital and home appliance sectors. Smart categories, including AI-powered 100-inch TVs, AI energy-saving air conditioners, AI-connected refrigerators, and AI kitchen and bathroom appliances, saw significant growth in transaction volume. Additionally, the transaction volume for many trending AI products, such as AI glasses, AI PCs, large-screen AI phones, and AI learning machines, grew by 125% year-over-year in the second quarter on JD.com.
Following the opening of the first JD MALL stores in Shanghai and Hong Kong, the total number of JD MALL stores has reached 30. JD.com also partnered with Costco, becoming its sole official e-commerce partner in China. JD's new complex commercial space, JD SPACE, is set to open in cities including Suqian, Beijing, Shenzhen, and Shanghai. JD's subsidiary, Jiabao Supermarket, has surpassed 100 stores in Hong Kong, offering local consumers a "high quality, good value" shopping experience.
Since its official launch in the first quarter, JD's European online retail business, Joybuy, experienced rapid sales growth in the second quarter. During the "Summer Black Friday" event on Joybuy, the transaction volume for over 1,800 brands doubled compared to the previous month. Services like "211 Timed Delivery" and "Delivery and Assembly" drove strong sales of premium home appliances and tech products, with high-quality branded goods remaining popular across Europe, showcasing robust summer consumer vitality.
In the second quarter, JD.com also became China's first online tax refund store for overseas travelers, fully digitizing the tax refund process. This provides a replicable and scalable "JD solution" for promoting online tax refunds nationwide.
Leveraging the efficiency gains of its super supply chain, JD also delivered deterministic growth for its partners. In the second quarter, Jingxi launched the "Booming Product Double Ten Million Plan," aiming to create 1,000 products with tens of millions in sales, covering all categories, and helping industrial belt merchants build their brands. JD further intensified its "Spring Dawn Plan," with the number of new merchants joining the platform in the first half of the year increasing by over 30% year-over-year, and sales from new merchants growing by more than 36% year-over-year.
To support compliant corporate procurement and build a fair pricing system for the industry, JD Industrial established a full-chain quality control system, guiding the market towards faster adoption of e-commerce procurement models for industrial products. JD's government and enterprise business now serves over 10 million active corporate clients, encompassing over 90% of Fortune Global 500 companies operating in China and 95% of China's top 500 private enterprises.
Enhancing Service Consumption Experience with Professional Standards, Diversifying Services to Drive Growth
Service consumption is a core driver of consumption growth. Leveraging its leading supply chain, digital technology, and service network, JD provides users with deterministic product fulfillment and after-sales service, establishing a competitive advantage in trusted professional services. This advantage has expanded to encompass production services across the entire value chain of enterprise development, continuously meeting users' diverse and convenient lifestyle service needs.
In response to the concentrated demand for air conditioner installations in specific regions this summer, over 60,000 JD service engineers nationwide ensured timely delivery and installation, with thousands of dedicated air conditioner installation teams dispatched to hundreds of cities across the country. JD launched a 30-minute home repair service, with technicians arriving within 30 minutes at the fastest, available 24/7. By the end of the second quarter, JD Auto Care stores covered over 1,200 districts and counties, launching an "Elite Program" to support youth entrepreneurship and accelerate the provision of reliable, professional car care services in county-level markets.
JD Auto's two-wheeler mobile repair and maintenance service now covers over 400 cities, with technicians able to complete a tire or battery replacement within 28 minutes of arrival. JD Sports introduced a "Delivery and Assembly" service for bicycles, allowing consumers to choose "install upon delivery," now covering all JD-owned bicycle brands.
In the second quarter, JD Now food delivery launched the "Dine-in is Visible" campaign, introducing the industry's strictest dine-in standards. JD Now also unveiled a new AI-powered smart helmet, integrating four key smart technologies: AI voice assistant, best-route navigation, one-key SOS call, and vendor environment verification, making AI the rider's smartest co-pilot to enhance the user experience.
In Q2, JD Health's medical examination center was officially renamed JD Health General Outpatient Clinic. Centered on one-stop health management, it integrates diverse medical and health services such as health check-ups, medical aesthetics, and dental care, transitioning from a single-test provider to a full-cycle, multi-category health service platform, further improving its offline medical service ecosystem. JD Health partnered with leading hospitals to build AI disease-specific models for respiratory, digestive, oncology, and mental health conditions, helping bring high-quality specialist care to a wider user base. The coverage and variety of JD Health's home-testing and nurse home-visit services continued to expand.
In the second quarter, national elderly care service consumption subsidies were launched on JD.com, with the first national e-commerce order placed in Beijing. JD Home Services, leveraging its self-operated model, introduced AI-assisted training tools. All elderly caregivers undergo systematic training covering 20 standard service procedures to ensure high-quality professional care for the elderly. JD Home Services' training base added dedicated courses for elderly care services for the first time, gradually rolling out diverse service products like elderly bathing assistance and short-term care. JD's first "Smart Ageing-Friendly" experience store officially opened, showcasing complete home modification solutions for the elderly and driving industry upgrades in home care for seniors.
In the second quarter, JD launched the "Peace of Mind Pet" service for dogs and cats, building a one-stop, full-chain protection system from selection to delivery. JD Pet partnered with the largest chain of pet hospitals in China to create a closed-loop online and offline medical system, tackling the common problems of expensive and difficult access to veterinary care. JD Logistics' dedicated pet delivery service, "JingChongDa," has expanded to over 40 cities nationwide. JD Travel's "Pet Travel" became China's first one-stop booking platform for pet-friendly flights, hotels, and tickets.
JD.com engaged in comprehensive, deep cooperation with several leading open robot leasing platforms to jointly build a full-chain robot service system, accelerating the large-scale deployment of embodied robots in commercial and home scenarios domestically and internationally. JD Logistics launched the "Robot Ambulance" service, providing professional maintenance and repair for various types of robots. It also introduced robot repair services in Europe, establishing JoyRobocare repair centers in the UK and Germany, with the "Robot Ambulance" mobile service covering major cities in the UK, Germany, France, and the Netherlands.
The upgrading of service consumption is also a battle for talent development. JD launched China's largest-scale blue-collar employment training program, covering 183 frontline service positions including home cleaners, maintenance engineers, customer service representatives, and car care technicians. It provides them with professional, systematic vocational skills and talent development programs, continuously improving the service training system to match industry needs, fundamentally enhancing service quality and providing sustainable growth momentum for service consumption.
Breakthroughs in Embodied Data Collection, Physical AI Deeply Embedded in Supply Chain Operations
AI is moving towards industrial implementation and commercial value validation. JD.com aims to build a world-class JoyAI foundational model matrix, driving AI from the digital world into the physical world. By creating a decentralized AI entry point and embodied general intelligence, and leveraging JD's real-world industrial scenarios, it plans to build a globally leading physical world operations center, empowering thousands of industries and millions of households with AI at scale.
JD's physical world model matrix has been further enhanced. It open-sourced the long-form audio-video generation framework JoyAI-Echo, the real-time video visual language interaction model JoyAI-VL-Interaction, and the real-time streaming video editing model JoyAI-Video-Edit, achieving globally leading performance levels. JD is building the world's largest embodied data collection center. The nation's first embodied data collection community was established in Suqian. It has already open-sourced the industry's largest human-centric dataset, EgoLive, which has been requested for use by over 100 universities and research institutes, marking a significant breakthrough.
JD's first RoboBase project broke ground in Guangzhou in the second quarter. Leveraging JD's business ecosystem, it aims to build a full-lifecycle industry infrastructure for robots, with plans to establish over 80 RoboBase robot bases nationwide in the next five years. As of the second quarter, JD Logistics' "ZhiLang" goods-to-person solution has been deployed in over 60 warehouses globally, including in the UK and Germany. The "YiLang" robot has been upgraded from a single-arm to a dual-arm system, capable of completing a full sequence of actions from identification to suction, grasping, and stacking in just 10 seconds. Thousands of autonomous vehicles are operating routinely in over 20 provinces across China, with JD launching the first nighttime delivery route using unmanned vehicles in Shenzhen. In Zizhong, Sichuan, JD has established the country's largest-scale drone delivery network for villages, covering 78 administrative villages, capable of crossing mountainous areas in as little as 7 minutes.
In the second quarter, JD initiated the industry's first AI hardware talent show, partnering with industry players to incubate AI hardware benchmarks. Over 50 new products debuted on JD.com through the "JD Aidol Creation Camp," with the transaction volume of Aidol Creation Camp products increasing by over 70% quarter-over-quarter in Q2. In supporting merchant operations, JD's digital human, JoyAvatar, has now served over 80,000 merchants. The number of accounts streaming via digital humans grew 3 times year-over-year in Q2, with the average number of daily active streaming accounts surging 6 times. During the 618 promotion, both the total streaming hours and transaction value generated by digital humans grew over 4 times compared to the previous year. JD Industrial had deployed over 70 AI agents by the end of the first half of the year, driving deep application and value creation across industries. The number of devices connected via JoyInside had grown 3 times since last year's 11.11 promotion, with initial development and application of smart products in home scenarios like bedrooms, studies, living rooms, kitchens, and bathrooms, creating an AI Home smart service ecosystem. JD Health's AI doctor, Dawei, deeply integrates capabilities across online consultations, home testing, nurse home visits, and medication fulfillment, truly realizing "consultation as a service." The number of users served by Dawei during the 618 promotion grew nearly 4 times year-over-year.
The efficiency revolution driven by AI on the supply side, combined with the upgrade wave led by service consumption on the demand side, will jointly power a virtuous cycle of "new demand leading to new supply, and new supply creating new demand." This will reshape the fundamental logic of consumption, driving it from a zero-sum game of "meeting basic needs" towards a blue ocean of "creating experiential value."