20-F | 2019-12-31 | Filed 2020-04-15 |
20-F | 2018-12-31 | Filed 2019-04-15 |
20-F | 2017-12-31 | Filed 2018-04-27 |
20-F | 2016-12-31 | Filed 2017-05-01 |
20-F | 2015-12-31 | Filed 2016-04-18 |
Item 17 |
Item 18 |
Part I |
Item 1. Identity of Directors, Senior Management and Advisers |
Item 2. Offer Statistics and Expected Timetable |
Item 3. Key Information |
Item 4. Information on The Company |
Item 4A. Unresolved Staff Comments |
Item 5. Operating and Financial Review and Prospects |
Item 6. Directors, Senior Management and Employees |
Item 7. Major Shareholders and Related Party Transactions |
Item 8. Financial Information |
Item 9. The Offer and Listing |
Item 10. Additional Information |
Item 11. Quantitative and Qualitative Disclosures About Market Risk |
Item 12. Description of Securities Other Than Equity Securities |
Part II |
Item 13. Defaults, Dividend Arrearages and Delinquencies |
Item 14. Modifications To The Rights of Security Holders and Use of Proceeds |
Item 15. Controls and Procedures |
Item 16A. Audit Committee Financial Expert |
Item 16B. Code of Ethics |
Item 16C. Principal Accountant Fees and Services |
Item 16D. Exemptions From The Listing Standards for Audit Committees |
Item 16E. Purchases of Equity Securities By The Issuer and Affiliated Purchasers |
Item 16F. Change in Registrant's Certifying Accountant |
Item 16G. Corporate Governance |
Item 16H. Mine Safety Disclosure |
Part III |
Item 17. Financial Statements |
Item 18. Financial Statements |
Item 19. Exhibits |
Note 7 - "Investment in Equity Investees". |
EX-2.11 | d875897dex211.htm |
EX-2.12 | d875897dex212.htm |
EX-4.21 | d875897dex421.htm |
EX-4.22 | d875897dex422.htm |
EX-4.23 | d875897dex423.htm |
EX-4.24 | d875897dex424.htm |
EX-4.25 | d875897dex425.htm |
EX-4.26 | d875897dex426.htm |
EX-4.28 | d875897dex428.htm |
EX-8.1 | d875897dex81.htm |
EX-12.1 | d875897dex121.htm |
EX-12.2 | d875897dex122.htm |
EX-13.1 | d875897dex131.htm |
EX-13.2 | d875897dex132.htm |
EX-15.1 | d875897dex151.htm |
EX-15.2 | d875897dex152.htm |
EX-15.3 | d875897dex153.htm |
Balance Sheet | Income Statement | Cash Flow |
---|---|---|
REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 |
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended |
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Title of Each Class | Trading Symbol | | Name of Each Exchange On Which Registered | |
share representing two Class A ordinary shares, par value US$0.00002 per share) US$0.00002 per share* | | (The N asdaq Global Select Market) (The N asdaq Global Select Market) |
* | Not for trading, but only in connection with the listing on The N asdaq Global Select Market of American depositary shares. |
Class A ordinary shares (excluding the 36,904,874 Class A ordinary shares issued to the depositary bank for bulk issuance of ADSs reserved for future issuances upon the exercise or vesting of awards granted under the Share Incentive Plan) and Class B ordinary shares, par value US$ 0.00002 per share, as of December 31, 2019. |
| ☒ | Accelerated filer | ☐ | |||
Non-accelerated filer | ☐ | Emerging growth company | |
† | The term “new or revised financial accounting standard” refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012. |
☒ | International Financial Reporting Standards as issued by the International Accounting Standards Board ☐ | Other ☐ |
1 | ||||||
1 | ||||||
3 | ||||||
Item 1. | 3 | |||||
Item 2. | 3 | |||||
Item 3. | 3 | |||||
Item 4. | 56 | |||||
Item 4A. | 97 | |||||
Item 5. | 98 | |||||
Item 6. | 120 | |||||
Item 7. | 130 | |||||
Item 8. | 136 | |||||
Item 9. | 138 | |||||
Item 10. | 138 | |||||
Item 11. | 150 | |||||
Item 12. | 151 | |||||
153 | ||||||
Item 13. | 153 | |||||
Item 14. | 153 | |||||
Item 15. | 153 | |||||
Item 16A. | 154 | |||||
Item 16B. | 154 | |||||
Item 16C. | 154 | |||||
Item 16D. | 154 | |||||
Item 16E. | 155 | |||||
Item 16F. | 155 | |||||
Item 16G. | 156 | |||||
Item 16H. | 156 | |||||
157 | ||||||
Item 17. | 157 | |||||
Item 18. | 157 | |||||
Item 19. | 157 | |||||
163 |
• | “ADSs” are to our American depositary shares, each of which represents two Class A ordinary shares; |
• | “annual active customer accounts” are to customer accounts that made at least one purchase during the twelve months ended on the respective dates, including both online retail and online marketplace; |
• | “China” or the “PRC” are to the People’s Republic of China, excluding, for the purposes of this annual report only, Hong Kong, Macau and Taiwan; |
• | “ordinary shares” are to our Class A and Class B ordinary shares, par value US$0.00002 per share; and |
• | “we,” “us,” “our company” and “our” are to JD.com, Inc., its subsidiaries and its consolidated variable interest entities and their subsidiaries. |
• | our goals and strategies; |
• | our future business development, financial conditions and results of operations; |
• | the expected growth of the retail and online retail markets in China; |
• | our expectations regarding demand for and market acceptance of our products and services; |
• | our expectations regarding our relationships with customers, suppliers and third-party merchants; |
• | our plans to invest in our fulfillment infrastructure and technology platform as well as new business initiatives; |
• | competition in our industry; and |
• | relevant government policies and regulations relating to our industry. |
Item 1. | Identity of Directors, Senior Management and Advisers |
Item 2. | Offer Statistics and Expected Timetable |
Item 3. | Key Information |
For the Year Ended December 31, | ||||||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | 2019 | ||||||||||||||||||||
RMB | RMB | RMB | RMB | RMB | US$ | |||||||||||||||||||
(in millions, except for share, per share and per ADS data) | ||||||||||||||||||||||||
Selected Consolidated Statements of Operations Data: | ||||||||||||||||||||||||
Net revenues: | ||||||||||||||||||||||||
Net product revenues | 167,936 | 237,944 | 331,824 | 416,109 | 510,734 | 73,362 | ||||||||||||||||||
Net service revenues | 13,106 | 20,346 | 30,508 | 45,911 | 66,154 | 9,503 | ||||||||||||||||||
Total net revenues | 181,042 | 258,290 | 362,332 | 462,020 | 576,888 | 82,865 | ||||||||||||||||||
Cost of revenues | (158,960 | ) | (222,935 | ) | (311,517 | ) | (396,066 | ) | (492,467 | ) | (70,738 | ) | ||||||||||||
Fulfillment | (12,367 | ) | (18,560 | ) | (25,865 | ) | (32,010 | ) | (36,968 | ) | (5,310 | ) | ||||||||||||
Marketing | (7,233 | ) | (10,159 | ) | (14,918 | ) | (19,237 | ) | (22,234 | ) | (3,194 | ) | ||||||||||||
Research and development | (2,902 | ) | (4,453 | ) | (6,652 | ) | (12,144 | ) | (14,619 | ) | (2,100 | ) | ||||||||||||
General and administrative | (2,188 | ) | (3,436 | ) | (4,215 | ) | (5,160 | ) | (5,490 | ) | (789 | ) | ||||||||||||
Impairment of goodwill and intangible assets | (2,750 | ) | — | — | (22 | ) | — | — | ||||||||||||||||
Gain on sale of development properties | — | — | — | — | 3,885 | 558 | ||||||||||||||||||
Income/(loss) from operations (1)(2)(3) | (5,358 | ) | (1,253 | ) | (835 | ) | (2,619 | ) | 8,995 | 1,292 | ||||||||||||||
Other income/(expense): | ||||||||||||||||||||||||
Share of results of equity investees | (2,852 | ) | (2,782 | ) | (1,927 | ) | (1,113 | ) | (1,738 | ) | (250 | ) | ||||||||||||
Interest income | 673 | 1,227 | 2,530 | 2,118 | 1,786 | 257 | ||||||||||||||||||
Interest expense | (73 | ) | (619 | ) | (964 | ) | (855 | ) | (725 | ) | (104 | ) |
For the Year Ended December 31, | ||||||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | 2019 | ||||||||||||||||||||
RMB | RMB | RMB | RMB | RMB | US$ | |||||||||||||||||||
(in millions, except for share, per share and per ADS data) | ||||||||||||||||||||||||
Others, net | (147 | ) | 1,544 | 1,317 | 95 | 5,375 | 772 | |||||||||||||||||
Income/(loss) before tax | (7,757 | ) | (1,883 | ) | 121 | (2,374 | ) | 13,693 | 1,967 | |||||||||||||||
Income tax benefits/(expenses) | 15 | (166 | ) | (140 | ) | (427 | ) | (1,803 | ) | (259 | ) | |||||||||||||
Net income/(loss) from continuing operations | (7,742 | ) | (2,049 | ) | (19 | ) | (2,801 | ) | 11,890 | 1,708 | ||||||||||||||
Net income/(loss) from discontinued operations, net of tax | (1,376 | ) | (1,365 | ) | 7 | — | — | — | ||||||||||||||||
Net income/(loss) | (9,118 | ) | (3,414 | ) | (12 | ) | (2,801 | ) | 11,890 | 1,708 | ||||||||||||||
Net loss from continuing operations attributable to non-controlling interests shareholders | (10 | ) | (48 | ) | (135 | ) | (311 | ) | (297 | ) | (42 | ) | ||||||||||||
Net loss from discontinued operations attributable to non-controlling interests shareholders | — | (4 | ) | (5 | ) | — | — | — | ||||||||||||||||
Net income from continuing operations attributable to mezzanine equity classified as non-controlling interests shareholders | — | — | — | 2 | 3 | 0 | ||||||||||||||||||
Net income from discontinued operations attributable to mezzanine equity classified as non-controlling interests shareholders | — | 445 | 281 | — | — | — | ||||||||||||||||||
Net income/(loss) attributable to ordinary shareholders | (9,108 | ) | (3,807 | ) | (153 | ) | (2,492 | ) | 12,184 | 1,750 | ||||||||||||||
Including | (1,376 | ) | (1,806 | ) | (269 | ) | — | — | — | |||||||||||||||
Net income/(loss) from continuing operations attributable to ordinary shareholders | (7,732 | ) | (2,001 | ) | 116 | (2,492 | ) | 12,184 | 1,750 | |||||||||||||||
Net income/(loss) per share | ||||||||||||||||||||||||
Basic | ||||||||||||||||||||||||
Continuing operations | (2.83 | ) | (0.71 | ) | 0.04 | (0.87 | ) | 4.18 | 0.60 | |||||||||||||||
Discontinued operations | (0.50 | ) | (0.64 | ) | (0.09 | ) | — | — | — | |||||||||||||||
Net income/(loss) per share | (3.33 | ) | (1.36 | ) | (0.05 | ) | (0.87 | ) | 4.18 | 0.60 | ||||||||||||||
Diluted | ||||||||||||||||||||||||
Continuing operations | (2.83 | ) | (0.71 | ) | 0.04 | (0.87 | ) | 4.11 | 0.59 | |||||||||||||||
Discontinued operations | (0.50 | ) | (0.64 | ) | (0.09 | ) | — | — | — | |||||||||||||||
Net income/(loss) per share | (3.33 | ) | (1.36 | ) | (0.05 | ) | (0.87 | ) | 4.11 | 0.59 | ||||||||||||||
Net income/(loss) per ADS (4) | ||||||||||||||||||||||||
Basic | ||||||||||||||||||||||||
Continuing operations | (5.65 | ) | (1.43 | ) | 0.08 | (1.73 | ) | 8.37 | 1.20 | |||||||||||||||
Discontinued operations | (1.01 | ) | (1.29 | ) | (0.19 | ) | — | — | — | |||||||||||||||
Net income/(loss) per ADS | (6.66 | ) | (2.71 | ) | (0.11 | ) | (1.73 | ) | 8.37 | 1.20 | ||||||||||||||
Diluted | ||||||||||||||||||||||||
Continuing operations | (5.65 | ) | (1.43 | ) | 0.08 | (1.73 | ) | 8.21 | 1.18 | |||||||||||||||
Discontinued operations | (1.01 | ) | (1.29 | ) | (0.18 | ) | — | — | — | |||||||||||||||
Net income/(loss) per ADS | (6.66 | ) | (2.71 | ) | (0.11 | ) | (1.73 | ) | 8.21 | 1.18 | ||||||||||||||
Weighted average number of shares: | ||||||||||||||||||||||||
Basic | 2,735,034,034 | 2,804,767,889 | 2,844,826,014 | 2,877,902,678 | 2,912,637,241 | 2,912,637,241 | ||||||||||||||||||
Diluted | 2,735,034,034 | 2,804,767,889 | 2,911,461,817 | 2,877,902,678 | 2,967,321,803 | 2,967,321,803 |
(1) | Includes share-based compensation expenses as follows: |
For the Year Ended December 31, | ||||||||||||||||||||||||