Chinese e-commerce leader JD.com has seen its stock price jump 8% in the wake of stronger-than-expected Q2 results. Net revenues reached 22 billion RMB — a 23% year-over-year increase. Active customer accounts grew to just more than 321 million.
JD.com also made it into the black, with income from operations amounting to 2.3 billion RMB ($300 million U.S.). It suffered a net loss of 2.4 billion RMB ($350 million U.S.) in FY2018.
The company’s second-hand goods trading platform PaiPai underwent a strategic merger with electronic product recycling platform AiHuiShou in June. The merger came as part of a $500 million U.S. funding round in AiHuiShou, led by JD.com. Estimates say that the new valuation of AiHuiShou is more than $2.5 billion U.S. After the merger, JD.com will become AuHuiShou’s largest strategic shareholder.
Revenues for Q1 rose 20.9% year-over-year to 121.1 billion RMB ($18 billion U.S.), topping the consensus forecast of 120.1 billion RMB.
In May, JD.com announced that it had renewed a strategic tie-up with Tencent that would afford the company preferred access to WeChat. It will pay Tencent around $800 million U.S. for the three-year deal. Tencent will also take $250 million U.S. in JD.com’s Class A shares.