京东物流2025中期报告

5 13 23 37 38 39 40 42 43 45 73 PO Box 309Ugland HouseGrand Cayman, KY1-1104Cayman Islands 20B8 2025814 302 33191901 Maples and Calder (Hong Kong) LLP Maples Fund Services (Cayman) LimitedP.O. Box 1093Boundary Hall, Cricket SquareGrand Cayman, KY1-1102Cayman Islands 18317M 2618 https://ir.jdl.com 1. 2025630 2025202598514.1%66110.2%67.1%2025337.1% 3C2025 202550119.9%17614.7%202573,71314.5%202523.9 20256JoyExpress 20252025630 23 20252025 2025 20256304,700(AI) 20256301,6001.966 202550119.9%17614.7%202573,71314.5%202523.9 3C2025 2025 20256211211 20256JoyExpress 2025 202563023 20254848.7% 2025++ 2025 20252025 2025 AI 20252025 20256305,0003,000 20256301,6002,0003,400 20256303045 2025630620254,000 20256301020252,000 2025630700 2025630551.933300 2025630200200500 20256301,800 2025630604020256305050 202563013013023 2025 2025630957 2025814 20256302024630 20256302024630 202463086314.1%2025985 202463041819.9%2025501(i)(ii)202463064,379202573,7132024630238,9672025239,399 20246304458.7%2025484 (i)(ii) 202463077915.2%2025897 202463029917.1%2025350 202463028519.2%2025340 202563020246366 202563020242221 202463010713.3%2025122 2025630899.0%2024859.8% 202563020243028 202563020241917 202563020241817 63030202426 EBITDA EBITDA 1.2.3.4.EBITDA 2025630 2025630443 20256303202414662439 20256306630(i)3723(ii)19 20246307426(i)3921(ii)6(iii)154 202563073110243630 202463074038187614 20256307845342632 2024630603730513 11.1% 20241262025318202412636.43%6,484100%2025611 2025630 202563020256305% 2025630 2025630 2025630392202433517.0% 2025630394.1 2025630 202563060 2025630XV352 1.20256306,648,081,7722.600,0013,274,5573.33,062,2374.Jingdong Technology Group Corporation4,192,271,100JD.com2025630JD.com72.2%5.59,3086.62,514 7.Eternity Rich Investments Ltd.750,0008.61,8879.61,88710.64,35011.(L) (i)JD.comJD.comJD.comXVXV51112(ii)5AD1A41(4)45XV 2025630JD.comAB 20256302,842,428,045JD.com JD.com60JD.com #AB 1.(i) Max Smart Limited11,487,275A22,974,550A(ii)20256306017,000,000A(iii) Max Smart Limited305,630,780BMax Smart LimitedFortune Rising Holdings Limited16,290,038B(2) 2.Fortune Rising Holdings Limited16,290,038BFortune Rising Holdings Limited(3)Fortune Rising Holdings Limited 3.Fortune Rising Holdings Limited16,290,038BJD.comJD.comFortune Rising Holdings LimitedJD.comFortune Rising Holdings LimitedFortune Rising Holdings Limited 2025630JD.comJD.com 1.JD.comJD.com4,4462.JD Jiankang Limited2,149,253,732JD Jiankang LimitedJD.com2025630JD.com72.2%3.17,680,8404.(L) 2025630XV352 2025630336 1.20256306,648,081,772 2.Jingdong Technology Group CorporationJD.comJD.comJingdong Technology Group Corporation4,192,271,1003.Perfect Match LimitedJungle Den LimitedJazz Dream LimitedMille Stelle Limited503,735,073TCT (BVI) LimitedTCT (BVI) Limited4.(L)5.336 2025630336 202311 28,819,1930.43% 1. 609,160,76710%2025112025630609,160,767609,160,767 609,160,7673% 202511473,753,58032,095,4816,480,8512025630448,138,950 609,160,76710% 202511261,660,76720,700,0002025630240,960,767 2. 3.2024123120241231202241202341202310120244120241018,643,09015,992,8935,301,37926,992,21116,022,314202541202241202341202310120244120241017,50027,75024,750130,00060,000202341202310120244120241012025412025630202241202341202310120244120241013,995,1399,746,9394,961,06919,429,54915,600,448 (a)(b) 2. 22,945 2025630 2022325150,500,000Jingdong Technology Group Corporation261,400,0002022412022526 6,924202232520224120225262022425 2025630 2025630 F.1.32025620 3.21 2025630 20256302410 2025630 202391 * 0.6 * 10.0 293.1202391 5% (i)5%50%5% (ii)5% 13.51B(1) 1.2025814 13.51B(1) 2025630 東 3872東股2025630343434 2410 34 2025814 1. 1.1 京 東 物 流 股20121 Jingdong Technology Group CorporationJD.com, Inc.JD.com, Inc.JD.com, Inc. 2021528 20256302025630 1.2 34 20241231202542520242024 2. 202511 3. 2024 4. 5. 7. 8. 10. 11. 12. 13. (a)(b)(c)(d)(e)(f)(g)(h)3,113.720246302,224.2 14. 1620246301105,314.120246303,385.15,072.320246303,327.7 1 27.1 27.1 20256301.6%4.9%202412312.0%4.4%27.1 30180 18. 202520246301,000,00040,000,000,0000.000025 *1,000 1.Jungle Den LimitedJazz Dream LimitedPerfect Match Limited Mille Stelle Limited2020,700,0000.000025202463014,000,0000.000025 2. *2025630 841.76.62% 2.20241236.43%6,484.0202531720256112,314.216.43% 20. 20.120.2 2025630170.72024630237.3201.12024630182.9 20.1 20. 20.1 JD.com, Inc. 20.2 20183312025630598,847,916 20215102025630609,160,767 20. 20.2 20215102025630609,160,767 (a) 2025630208,111,646 5,691,13020246304,375,41712.6420246308.57 20. 20.2 20. 20.2 2025630689,78220241231685,411 (b) 2025630 20. 20.2 (c) 2025630448,138,95020241231473,753,580 2025630368,200,00020241231347,500,000 20.3 20256307,133,300202412317,133,300 21. 2024630 22. *2025630320.920241231101.4 1.20256301,639.12,461.4202412312024423.919 2.2025630343.1159.420241231202445.0 24. 20256305,976.4202412317,228.2