All articles tagged with #china e commerce
JD.com reported Q2 revenue of RMB 346.4 billion and non-GAAP net income of RMB 8.9 billion (about $1.3 billion), beating estimates and aided by an extended midyear shopping event, but its ADR fell around 2.5% in premarket trading as investors reacted to the results.
Alibaba's revenue from AI products surged, helping offset a decline in profit due to intense competition with Meituan and JD.com in China's e-commerce sector. Despite a slight fall in operating income and overall revenue growth of 2%, cloud division sales and AI-related offerings showed strong performance. The company is heavily investing in AI development, including creating its own AI chip, to stay competitive in a rapidly evolving technological landscape, even as domestic price wars and regulatory warnings pose challenges.