JD Industrials (07618) announced its financial results for the fiscal year ended December 31, 2025. The group recorded revenue of RMB 239.52 billion, representing a 17.4% increase compared to the previous year. Annual profit reached RMB 23.14 billion, a significant surge of 203.8%. Non-IFRS annual profit was RMB 11.31 billion, up 5.3% year-on-year, with basic earnings per share of RMB 1.12.

The growth in revenue was primarily driven by a continuous expansion in the group's transaction volume. Specifically, the total transaction volume increased by 16.5%, from approximately RMB 288 billion in 2024 to RMB 335 billion in 2025. This growth is largely attributed to successful efforts in attracting new customers and increasing the share of wallet from existing clients.

Transaction volume from key enterprise customers grew by 26.5%, rising from RMB 131 billion in 2024 to RMB 165 billion in 2025. This increase was mainly due to the expansion of the key enterprise customer base, which grew from about 10,600 in 2024 to approximately 13,300 in 2025. Transaction volume from small, micro, and medium-sized enterprise customers increased by 8.3%, from RMB 157 billion in 2024 to RMB 170 billion in 2025.

Revenue from product sales, which primarily include MRO (Maintenance, Repair, and Operations) and BOM (Bill of Materials) products, increased by 17.3%, from RMB 192 billion in 2024 to RMB 225 billion in 2025. This growth was mainly driven by an 18.8% increase in product transaction volume, from approximately RMB 218 billion in 2024 to about RMB 259 billion in 2025.

Revenue from services, which mainly include the transaction platform, advertising, and other services, increased from RMB 12 billion in 2024 to RMB 15 billion in 2025. The rise in advertising and other service revenue was primarily due to the continued expansion of the service and user base. The increase in transaction platform revenue was largely a result of growth in transaction volume from small, micro, and medium-sized enterprise customers, who are increasingly favoring the platform for their procurement needs.