Overall, as always, revenue has declined, and profits are very good, but I have to say month-on-month comparison, and revenue performance in the past. The experience was slightly better than Ali's, but it was easy to lose it. In terms of profit, it is the same as previous performance; it is very profitable.
Review the previous Q review first “[JD 2023Q3 Financial Report Review]
JD's revenue continued to collapse in the previous quarter, but profits were still very good. I have a feeling that the revenue growth rate of Internet companies has all slowed down, but profit is getting faster by one. Internet companies are squeezing their operations slightly. At the same time, after the cost of grabbing traffic from each other has been reduced, net profit has mostly performed well under “cost reduction and efficiency.”
First, let's talk about the conclusion: I really think that JD is facing too much competition. Liu Qiangduo himself emphasized, “Retail first is cheap, and cheap is the previous one. If there is no cheapness, everything else is 0.” However, JD has been making a bargain for a few years, and the “surprise” and “10 billion subsidy” have not threatened Pinduoduo in the slightest. From this perspective, this company still cannot be viewed. In other words, if they can beat him, it's hard for him to beat them back; the situation has gone downhill.
Of course, the valuation is very low. After yesterday's rise, the static PE was 326.092 billion yuan, 9 times PE (under nongaap, it is strictly necessary to deduct equity incentive fees, but the company also has a lot of money (assets are definitely valuable), so it's really low)
link:[JD 2023Q3 Earnings Review]”
1. Look directly at the income statement
Revenue of 3060.77 increased 3.6%. Strangely compared to the previous quarter compared to the previous quarter, revenue increased by 1...