Jingdong F1 file interpretation 2013 is still not profitable


| Sun Hongchao

a few hours before the press, Jingdong has just updated the F1 file submitted to the SEC, the document adds the 2013 full year financial data. According to the data show that the Jingdong in 2013 total revenue of 69 billion 340 million yuan, net loss of 50 million yuan, although the loss of 1 billion 729 million yuan is far from the same period last year, but the Jingdong at a profit as the dream of listing has completely broken.


in the fourth quarter

according to the first edition of Jingdong prospectus shows that in the first three quarters of 2013 Jingdong mall net revenues of $49 billion 216 million, compared with the same period last year rose by 28 billion 807 million yuan of $70%. The first three quarters, Jingdong mall has achieved a profit of $60 million, compared to a loss of $1 billion 424 million last year. This shows that in the fourth quarter of 2013, Jingdong net revenues of $20 billion 100 million, of which a net loss of 110 million yuan (loss of last year was $305 million).

in the Jingdong on the thirty submission of the prospectus, although net profit of 60 million yuan compared to net revenues of 49 billion 216 million yuan is poor, but the Jingdong can at least announce: Jingdong began to make money. After all, before the IPO, earnings or a good news. But at the time there are rumors that Jingdong’s earnings are listed in order to come together, today’s updated F1 file confirms this point.

a quarter of a loss of more than 100 million yuan, it is a natural question, a former Jingdong three quarter earnings come from? According to reports: "the science and technology NetEase once earnings data in the three quarter of 2013, excluding about 10 million tax and 60 million basic earnings, and operating profit coincide, this explain the sources of Jingdong profit is the interest income and government subsidies or tax rebates, B2C is still at a loss."

According to Jingdong

latest disclosure figures, for the year from interest income and other income was 537 million yuan, the fourth quarter of 151 million yuan to be (from the first three quarters of the interest income of 220 million yuan, 164 million yuan of government subsidies). This shows that Jingdong in the fourth quarter of the electricity supplier platform in the amount of loss of more than $261 million, which is still not a small figure (in the first three quarters of the total loss of electricity supplier Jingdong in the case of a total of RMB 316 million).

noticed another figure, the first three quarters of the Jingdong completed a total of 211 million 700 thousand orders, which means that every order Jingdong average loss of 1.5 yuan, the fourth quarter of the Jingdong completed 1.116 orders, each order Jingdong average loss of 2.3 yuan.

Jingdong electricity supplier business, the loss is still increasing, this is not a good phenomenon.

must introduce Tencent

believes that before the document disclosure, the BOE to face their own financial situation, especially the business itself. "

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