JD.com reported a net loss of $800 million in Q4 of 2021, down from a net profit of US$3.8 billion the previous year. The Chinese e-commerce giant reported a net loss of US$600 million for the fiscal year ending 2021, compared to a net profit of $7.8 billion the year before
In addition, the company reported a $61.5 million loss from operations in Q4, compared to an operational profit of $94 million the previous year.
One cause for the operational loss was that losses in its new business division increased thrice in Q4 to $505.9 million. Social commerce platform Jingxi, JD Property, offshore firms, and digital efforts dominate this area. Despite a 45.5 percent revenue growth, the new enterprises segment lost money.
Income from operations for the whole year fell more than threefold to $600 million, down from $1.9 billion in fiscal year 2020.
Meanwhile, the gain on sale of development assets was more than 60 times lower in Q4 at $2.8 million, compared to a gain of over $175 million last year. JD.com, on the other hand, reported a 23 percent increase in revenue for the fourth quarter of 2021.
The IT company’s quarterly sales increased to roughly $43.3 billion. Its revenue for financial year 2021 was $149.3 billion, a 27.6 percent increase. In the fourth quarter, the company’s retail segment, which generates the majority of its sales, increased by 21.3 percent to $39.2 billion. JD Logistics’ quarterly sales increased by 27.7 percent to $4.8 billion.
According to the firm, its yearly active client base would increase by 20.7 percent to 569.7 million in 2021.