HONG KONG — JD.com’s net profit for the April-June quarter plunged 51% on the year to 6.2 billion yuan ($864 million) as the Chinese e-commerce platform took a hit from hefty subsidies it pumped into its food delivery service in an ongoing battle with Meituan and Alibaba in that space.
Hefty spending on subsidies to woo users is expected to continue into Q3
Spending on its food delivery business ate into JD.com’s profit in the second quarter as the price war in the sector shows no sign of easing. © AP
CISSY ZHOU
August 14, 2025 18:56 JST
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