need only 2 pages double spaced(its financial report shows this company still profitable but there r still many problems exist). by analyze the financial report1. what’s the problem, you can list them one by one2. how did you find those problemsyou can highlight some numbers from the annual report, or show how you use the calculation to prove your analysis.show
me your process of calculation(for example by calculating financial
ratio etc.) and screenshot financial report that let me know which part
are you talking about.3.show your problems and evidences one by one by using strong evidenceyou only can use financial minds and ways to prove them.focus on:Identify the industry economic characteristics. …Identify company strategies. …Assess the quality of the firm’s financial statements. …Analyze current profitability and risk. …Prepare forecasted financial statements. …Value the firm.Operating profit marginAssessing stock price and profitability for shareholdersDividend payout ratioAssets and liability
2018_annual_report_jd.com_inc..pdf
Unformatted Attachment Preview
Table of Contents
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 20-F
(Mark One)
o
REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934
OR
x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2018.
OR
o
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from
to
OR
o
SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of event requiring this shell company report . . . . . . . . . . . . . . . . . . .
Commission file number: 001-36450
JD.com, Inc.
(Exact Name of Registrant as Specified in its Charter)
N/A
(Translation of Registrant’s Name Into English)
Cayman Islands
(Jurisdiction of Incorporation or Organization)
20th Floor, Building A, No. 18 Kechuang 11 Street
Yizhuang Economic and Technological Development Zone
Daxing District, Beijing 101111
People’s Republic of China
(Address of Principal Executive Offices)
Sidney Xuande Huang, Chief Financial Officer
Telephone: +86 10 8911-8888
Email: ir@jd.com
20th Floor, Building A, No. 18 Kechuang 11 Street
Yizhuang Economic and Technological Development Zone
Daxing District, Beijing 101111
People’s Republic of China
(Name, Telephone, Email and/or Facsimile number and Address of Company Contact Person)
Securities registered or to be registered pursuant to Section 12(b) of the Act:
Title of Each Class
American depositary shares (one American depositary share representing two Class A ordinary shares, par
value US$0.00002 per share)
Class A ordinary shares, par value
US$0.00002 per share*
Name of Each Exchange On Which Registered
The NASDAQ Stock Market LLC
(The NASDAQ Global Select Market)
The NASDAQ Stock Market LLC (The NASDAQ
Global Select Market)
* Not for trading, but only in connection with the listing on The NASDAQ Global Select Market of American depositary shares.
Securities registered or to be registered pursuant to Section 12(g) of the Act:
None
(Title of Class)
Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act:
None
(Title of Class)
Indicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the period covered by the annual report:
2,449,222,672 Class A ordinary shares (excluding the 58,250,658 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 458,342,517 Class B ordinary shares, par value US$0.00002 per
share, as of December 31, 2018.
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. x Yes o No
If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. o Yes x No
Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. x Yes o No
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12
months (or for such shorter period that the registrant was required to submit such files). x Yes o No
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” and
“emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer x
Accelerated filer o
Non-accelerated filer o
Emerging growth company o
If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new
or revised financial accounting standards† provided pursuant to Section 13(a) of the Exchange Act. o
† 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.
Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing:
U.S. GAAP x
International Financial Reporting Standards as issued
by the International Accounting Standards Board o
Other o
If “Other” has been checked in response to the previous question, indicate by check mark which financial statement item the registrant has elected to follow. o Item 17 o Item 18
If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). o Yes x No
(APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PAST FIVE YEARS)
Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a
plan confirmed by a court. o Yes o No
Table of Contents
TABLE OF CONTENTS
INTRODUCTION
FORWARD-LOOKING INFORMATION
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
SIGNATURES
i
1
1
2
2
2
2
53
93
93
116
126
131
132
133
145
146
148
148
148
148
149
149
149
149
149
150
150
150
151
151
151
151
156
Table of Contents
INTRODUCTION
Unless otherwise indicated or the context otherwise requires, references in this annual report to:
·
“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 direct sales 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;
·
“GMV” are to the total value of all orders for products and services placed in our online direct sales business and on our online marketplaces,
regardless of whether the goods are sold or delivered or whether the goods are returned. GMV includes the value from orders placed on our
websites and mobile apps as well as orders placed on third-party websites and mobile apps that are fulfilled by us or by our third-party
merchants. Our calculation of GMV includes shipping charges paid by buyers to sellers and for prudent consideration excludes certain
transactions over certain amounts that are comparable to the disclosed parameters in GMV definition by our major industry peer. We believe
that GMV provides a measure of the overall volume of transactions that flow through our platform in a given period and is only useful for the
purposes of industry and peer comparisons. Therefore, it should not be used as a financial metric. GMV of all periods presented in this annual
report is calculated based on this definition;
·
“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.
FORWARD-LOOKING INFORMATION
This annual report on Form 20-F contains forward-looking statements that reflect our current expectations and views of future events. These
statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking
statements by terminology such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “potential,”
“continue” or other similar expressions. We have based these forward-looking statements largely on our current expectations and projections about future
events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. These forwardlooking statements include statements relating to, among other things:
·
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 sellers;
·
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.
1
Table of Contents
We would like to caution you not to place undue reliance on these forward-looking statements and you should read these statements in conjunction
with the risk factors disclosed in “Item 3.D. Key Information—Risk Factors.” Those risks are not exhaustive. We operate in an evolving environment. New
risks emerge from time to time and it is impossible for our management to predict all risk factors, nor can we assess the impact of all factors on our business or
the extent to which any factor, or combination of factors, may cause actual results to differ from those contained in any forward-looking statement. We do not
undertake any obligation to update or revise the forward-looking statements except as required under applicable law. You should read this annual report and
the documents that we reference in this annual report completely and with the understanding that our actual future results may be materially different from
what we expect.
Our reporting currency is Renminbi, or RMB. Unless otherwise noted, all translations from RMB to U.S. dollars and from U.S. dollars to RMB in this
annual report are made at a rate of RMB6.8755 to US$1.00, the exchange rate in effect as of December 31, 2018 as set forth in the H.10 statistical release of
The Board of Governors of the Federal Reserve System. We make no representation that any RMB or U.S. dollar amounts could have been, or could be,
converted into U.S. dollars or RMB, as the case may be, at any particular rate, or at all.
PART I
Item 1.
Identity of Directors, Senior Management and Advisers
Not applicable.
Item 2.
Offer Statistics and Expected Timetable
Not applicable.
Item 3.
A.
Key Information
Selected Financial Data
The following table presents the selected consolidated financial information for our company. As of June 30, 2017, we deconsolidated our finance
business operated by Beijing Jingdong Financial Technology Holding Co., Ltd. (now known as Beijing Jingdong Digital Technology Co., Ltd., or JD
Digits), as a result of the reorganization of JD Digits. Accordingly, the historical financial results of JD Digits for periods from January 1, 2015 to June 30,
2017 are reflected in our consolidated financial statements as discontinued operations. Please see “Item 4. Information on the Company—A. History and
Development of the Company” for further information. The selected consolidated statements of operations data for the years ended December 31, 2016, 2017
and 2018, selected consolidated balance sheets data as of December 31, 2017 and 2018 and selected consolidated cash flow data for the years ended
December 31, 2016, 2017 and 2018 have been derived from our audited consolidated financial statements, which are included in this annual report
beginning on page F-1. JD Digits is reflected as discontinued operations in these selected consolidated financial statements, as applicable. The selected
consolidated statements of operations data for the years ended December 31, 2014 and 2015, selected consolidated balance sheets data as of December 31,
2014, 2015 and 2016 and selected consolidated cash flow data for the years ended December 31, 2014 and 2015 have been derived from our audited
consolidated financial statements not included in this annual report, and the cash flow data for the years ended December 31, 2014 and 2015 has been
retrospectively adjusted as a result of the new accounting guidance adopted on January 1, 2018 (see note (6) below for more details). JD Digits is not reflected
as discontinued operations in the selected consolidated statements of operations data for the year ended December 31, 2014, selected consolidated balance
sheets data as of December 31, 2014 and 2015 and selected consolidated cash flow data for the years ended December 31, 2014 as the impact of JD Digits was
not material during these periods. Our historical results do not necessarily indicate results expected for any future periods. The selected consolidated
financial data should be read in conjunction with, and are qualified in their entirety by reference to, our audited consolidated financial statements and related
notes and “Item 5. Operating and Financial Review and Prospects” below. Our consolidated financial statements are prepared and presented in accordance
with U.S. GAAP.
2
Table of Contents
2014
RMB
Selected Consolidated
Statements of Operations
Data:
Net revenues:
Net product revenues
(formerly known as online
direct sales)
Net service revenues (formerly
known as services and
others)
Total net revenues
Operating expenses(1)(2)(3):
Cost of revenues
Fulfillment
Marketing
Technology and content
General and administrative
Impairment of goodwill and
intangible assets
Total operating expenses
Loss from operations
Other income/(expense):
Share of results of equity
investees
Interest income
Interest expense
Others, net
Income/(loss) before tax
Income tax benefits/(expenses)
Net loss from continuing
operations
Net income/(loss) from
discontinued operations, net
of tax
Net loss
Net loss from continuing
operations attributable to noncontrolling interests
shareholders
Net loss from discontinued
operations attributable to noncontrolling interests
shareholders
Net income from continuing
operations attributable to
mezzanine classified noncontrolling interests
shareholders
Net income from discontinued
operations attributable to
mezzanine classified noncontrolling interests
shareholders
Preferred shares redemption
value accretion
Net income/(loss) from
continuing operations
attributable to ordinary
shareholders
Net loss from discontinued
operations attributable to
ordinary shareholders
Net loss attributable to
ordinary shareholders
2015
RMB
For the Year Ended December 31,
2016
2017
RMB
RMB
(in millions, except for share, per share and per ADS data)
2018
RMB
US$
108,549
167,936
237,944
331,824
416,109
60,521
6,453
115,002
13,106
181,042
20,346
258,290
30,508
362,332
45,911
462,020
6,677
67,198
(101,631)
(8,067)
(4,010)
(1,836)
(5,260)
(158,960)
(12,367)
(7,233)
(2,902)
(2,188)
(222,935)
(18,560)
(10,159)
(4,453)
(3,436)
(311,517)
(25,865)
(14,918)
(6,652)
(4,215)
(396,066)
(32,010)
(19,237)
(12,144)
(5,160)
(57,606)
(4,656)
(2,798)
(1,766)
(750)

(120,804)
(5,802)
(2,750)
(186,400)
(5,358)

(259,543)
(1,253)

(363,167)
(835)
(22)
(464,639)
(2,619)
(3)
(67,579)
(381)

638
(29)
216
(4,977)
(19)
(2,852)
673
(73)
(147)
(7,757)
15
(2,782)
1,227
(619)
1,544
(1,883)
(166)
(1,927)
2,530
(964)
1,317
121
(140)
(1,113)
2,118
(855)
95
(2,374)
(427)
(162)
308
(124)
14
(345)
(62)
(7,742)
(2,049)
(19)
(2,801)
(407)
(1,376)
(9,118)
(1,365)
(3,414)
7
(12)

(2,801)

(407)
(10)
(48)
(135)
(311)
(45)

(4)
(5)





2
0

445
281







(4,996)
(7,958)
(12,954 )
(7,732)
(2,001)
116
(1,376)
(1,806)
(269)
(9,108 )
(3,807 )
(153 )
3
(2,492)

(2,492 )
(362)

(362 )
Table of Contents
2014
RMB
Net income/(loss) per share
Basic
Continuing operations
Discontinued operations
Net loss per share
Diluted
Continuing operations
Discontinued operations
Net loss per share
Net income/(loss) per ADS(4)
Basic
Continuing operations
Discontinued operations
Net loss per ADS
Diluted
Continuing operations
Discontinued operations
Net loss per ADS
Weighted average number of
shares:
Basic
Diluted
2015
RMB
For the Year Ended December 31,
2016
2017
RMB
RMB
(in millions, except for share, per share and per ADS data)
2018
RMB
US$
(5.35)
(2.83)
(0.50)
(3.33)
(0.71)
(0.64)
(1.36)
0.04
(0.09)
(0.05)
(0.87)

(0.87)
(0.13)

(0.13)
(5.35)
(2.83)
(0.50)
(3.33)
(0.71)
(0.64)
(1.36)
0.04
(0.09)
(0.05)
(0.87)

(0.87)
(0.13)

(0.13)
(10.71)
(5.65)
(1.01)
(6.66)
(1.43)
(1.29)
(2.71)
0.08
(0.19)
(0.11)
(1.73)

(1.73)
(0.25)

(0.25)
(10.71)
(5.65)
(1.01)
(6.66)
(1.43)
(1.29)
(2.71)
0.08
(0.18)
(0.11)
(1.73)

(1.73)
(0.25)

(0.25)
2,419,668,247
2,419,668,247
2,735,034,034
2,735,034,034
2,804,767,889
2,804,767,889
2,844,826,014
2,911,461,817
2,877,902,678
2,877,902,678
2,877,902,678
2,877,902,678
(1) Share-based compensation expenses are allocated in operating expense items as follows:
2014
RMB
Cost of revenues
Fulfillment
Marketing
Technology and content
General and administrative
2015
RMB

(129)
(24)
(79)
(4,018)
(8)
(164)
(48)
(209)
(648)
For the Year Ended December 31,
2016
2017
RMB
RMB
(in millions)
(17)
(332)
(87)
(470)
(1,154)
(28)
(426)
(136)
(671)
(1,520)
2018
RMB
US$
(72)
(419)
(190)
(1,163)
(1,816)
(10)
(61)
(28)
(169)
(264)
(2) Amortization of intangible assets resulting from assets and business acquisitions are allocated in operating expense items as follows. See Item 17 of
Part III, “Financial Statements—Note 8—Business Combination” for details of significant business combination transactions.
2014
RMB
Fulfillment
Marketing
Technology and content
General and administrative
2015
RMB
(21)
(925)
(19)
(146)
(10)
(1,225)
(24)
(180)
For the Year Ended December 31,
2016
2017
RMB
RMB
(in millions)
(93)
(1,222)
(46)
(248)
(164)
(1,222)
(84)
(308)
2018
RMB
(168)
(1,232)
(98)
(308)
US$
(24)
(179)
(14)
(45)
(3) In April 2017, leveraging our advanced technology and logistics expertise, we established JD Logistics, a new business group under JD.com, to provide
logistics services to businesses across a wide range of industries. As JD …
Purchase answer to see full
attachment

Are you having trouble with the above assignment or one similar?

To date, 239 students have ordered this same assignment from us and received 100% original work. We can do the same for you!

We offers 100% original papers that are written from scratch.We also have a team of editors who check each paper for plagiarism before it is sent to you.

Click this “order now” button to see free Cost Breakdown!