NEWS WRAP: JD Logistics revenue, profit accelerate on China market momentum

The company’s integrated supply chain solutions business recorded strong growth in the first half of 2025, while continued efficiency improvements lifted its profitability

By Teri Yu

JD Logistics Inc. (2618.HK) on Thursday reported its revenue rose 14.1% year-on-year to 98.5 billion yuan ($13.7 billion) in the first half of 2025, driven by steady momentum for its China market expansion, and as both its customer base and spending per customer for its integrated supply chain (ISC) solutions business posted solid growth.

Revenue from the company’s ISC solutions reached 50.1 billion yuan during the six-month period, or over half of its total, up 19.9% year-on-year, according to its midyear report released on Thursday. Its external ISC user base grew to 73,713 customers, up 14.5%, as the company continued to diversify beyond simply providing services for its parent, e-commerce giant JD.com (JD.US; 9618.HK). The average revenue per customer from external ISC customers amounted to around 239,000 yuan.

Revenue from other customers, including for express delivery and freight services, also grew  by 8.7% to 48.4 billion yuan year-on-year. During the period, JD Logistics further strengthened its end-to-end solutions for the shipment of fresh products like lychees and cherries, while achieving rapid growth in the Hong Kong and Macao markets. In the second quarter, JD Logistics began recruiting and managing full-time riders to participate in delivery services of JD Food Delivery, in a bid to achieve greater synergies and efficiency with its last-mile express services.

The company posted a non-IFRS profit of 3.3 billion yuan in the first half of the year, up 7.1% year-on-year, as a result of improved resource utilization efficiency.

“In the first half of 2025, driven by China’s economy maintaining steady and positive momentum, JD Logistics achieved accelerated revenue growth by continuously strengthening capabilities,” said CEO Hu Wei.

On a quarterly basis, JD Logistics, which supplies about 15% of JD.com’s revenue, reported revenue of 51.6 billion yuan in the three months to June, up 16.6% year-on-year. Its quarterly non-IFRS profit was 2.6 billion yuan, up 5.4% over the prior year.

JD Logistics said it continued to actively expand its global footprint. In June, the company launched JoyExpress, its self-operated B2C express delivery service, in Saudi Arabia. The service offers last-mile delivery with options as fast as same or next day, with complete fulfillment using in-house couriers. It also includes value-added features such as temporary return storage.

The company also expanded its network of self-owned warehouses across the U.S., Britain, Saudi Arabia, Korea, Vietnam and other markets in the first half of the year, bringing its entire logistics footprint to hundreds of countries and regions worldwide.  

As part of its global expansion, the company launched a second warehouse in Warsaw, Poland, and its operations center in Hong Kong, further enhancing its integrated logistics solutions.

JD Logistics emphasized that technology continues to play a pivotal role in elevating its service efficiency. Its goods-to-person (GTP) automated warehousing solution, named “Zhilang,” is deployed at some warehouses to enable high-volume order fulfillment and largely unmanned operations in its supply chain.

JD Logistics is a leading player in China’s fiercely competitive logistics sector, known for both its cost efficiency and fast deliveries. The company was spun off from its parent and separately listed in Hong Kong in 2021.

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