JD Industrials (07618) announced its 2025 annual results on March 5, revealing total revenue of 239.5 billion yuan, a year-on-year increase of 17.4%. Adjusted annual net profit reached 1.13 billion yuan, up 5.3% compared to the previous year. Alongside this steady growth, the company's unique "full-link digital intelligence" business model has gained broad industry recognition. Developments in international market capabilities and commodity supply chain strength, alongside technological innovations such as JoyIndustrial—the industry's first supply-chain-centric industrial AI large model—have laid a solid foundation for long-term development.
As a leading industrial supply chain technology and service provider, JD Industrials has further enhanced its full-link digital intelligence capabilities, achieving a series of innovative breakthroughs in industrial supply chain solutions. The company continues to deliver tangible value to clients in areas such as cost reduction, efficiency improvement, compliance, and supply assurance, driving comprehensive digital and intelligent transformation across the industrial supply chain and supporting long-term, high-quality growth.
By implementing its "full-link digital intelligence" strategy, JD Industrials helps the broader industry reduce costs and increase efficiency. Leveraging deep industry insights, advanced supply chain systems, and continuous innovation, the company expanded its reach across sectors, clients, and services in 2025. Transaction volume from key enterprise clients reached 16.5 billion yuan, a 26.5% increase year-on-year. As of December 31, 2025, the number of key enterprise clients served over the past 12 months reached 13,300, up 26.0% from the previous year.
The company's "Taipu" integrated digital-physical supply chain solution, building on JD Industrials' dual strengths in infrastructure and digital intelligence technology, has deepened its presence in specialized scenarios. It has launched tailored solutions for sectors including automotive manufacturing, energy batteries, and photovoltaic power generation, helping businesses achieve end-to-end cost savings and efficiency gains. This digital-physical integration model effectively supports the development of "new quality productive forces."
JD Industrials, together with partners, initiated the "Intelligence Empowering Industries, Trillions in Cost Savings" campaign, which has connected over 5,000 key enterprises and helped Chinese industry share in trillions of yuan worth of supply chain benefits. From top-level design and system construction to operational execution and continuous optimization, the company’s distinctive full-link digital intelligence services have earned recognition from numerous major enterprises, meeting their strategic needs for supply chain modernization.
As the Taipu solution continues to create value in key areas such as product management, procurement, fulfillment, and operations, JD Industrials has become a "strategic supply chain partner" for many clients on their digital transformation journey. In 2025, the full-year transaction retention rate among key enterprise clients reached 116.6%.
For example, JD Industrials provided a new energy vehicle manufacturer with a data dashboard for automated online product sourcing and price comparison, followed by the use of "Mercator" to enhance product governance and standardization. This significantly reduced the number of mid- to long-tail suppliers, cutting supplier management costs by over 50%. Through on-site scenario analysis and specification identification, the company also offered domestic substitution solutions for categories such as welding accessories and abrasive tools, achieving cost reductions of 5–30% across different product lines.
JD Industrials' supply chain services are increasingly recognized by small and micro enterprises. In 2025, transaction volume from this segment reached 17 billion yuan. Addressing common pain points such as fragmented categories, pricing challenges, and unstable fulfillment, platforms like JD Gongpin Hui and JD Hardware City—combined with high-quality, cost-effective products and reliable delivery services—provide a clear one-stop procurement entry point.
While the company continues to deepen its core MRO (Maintenance, Repair, and Operations) offerings, high-frequency categories such as power tools, hand tools, and construction materials also saw rapid transaction growth. To improve service responsiveness in settings like industrial parks, JD Industrials opened its first "JD Hardware City Park Store" in Kunshan, Jiangsu. Using a "front store, back warehouse" model, it blends online efficiency with offline experience, offering end-to-end services from product selection and procurement to delivery and after-sales support.
Behind the steady growth in services for both key accounts and small businesses lies JD Industrials' continuously improving commodity supply chain capabilities. In 2025, the company strengthened strategic collaboration with core suppliers, expanding the breadth and depth of quality supply and increasing both product variety and merchant participation. JD Industrials now works with approximately 205,000 manufacturers, distributors, and agents, offering around 97.7 million SKUs.
While rooted in MRO categories, the company's product services have expanded into long-tail direct materials ("BOM-Category"), such as fasteners, seals, and electronic components. In the own-brand segment, sub-brands like "FabEdel" (for highly specialized industrial products) and "Benefant" (for cost-effective general goods) have aggregated demand and supply, providing more competitive industrial supply chain solutions.
As a supply chain enterprise proficient in both digital technology and industrial operations, JD Industrials continues to integrate innovation with real-world scenarios, treating technological advancement as a core driver of operational and industrial upgrade. In 2025, the company launched JoyIndustrial, China’s first vertical AI large model for industrial supply chains, along with a series of application agents tailored to core business processes. This combines massive vertical data with specialized industry scenarios.
JoyIndustrial’s intelligent capabilities span product management, transactions, and fulfillment. Together with scenario-specific application agents, it forms an "AI large model + scenario" service system that has been effectively deployed both internally and externally, generating clear value. For instance, in product governance, the AI-powered "Gongpin Cha" system—the industry’s first AI governance tool based on an extensive product knowledge base—covers over 40 key scenarios including material standardization and product matching, significantly improving efficiency.
In collaboration with a power battery manufacturer, JD Industrials co-developed an "AR + AI" remote quality inspection system that enables cross-site inspections and full-process recording, reducing costs while efficiently supporting the client’s multi-location production needs.
To assist industrial and manufacturing companies in global expansion, JD Industrials actively promotes "accompanying globalization" services, building a trustworthy, full-lifecycle global supply chain system adaptable to diverse scenarios. This helps enterprises expand more steadily and sustainably. The company has established solid supply chain infrastructure in eight key markets, including Southeast Asia, Brazil, and Hungary, serving approximately 100 enterprises.
While leveraging its mature end-to-end advantages to provide stage-appropriate and need-specific supply chain support, JD Industrials continues to expand overseas channels, enhancing local deployment capabilities and service quality. By refining its end-to-end service capacity, the company ensures that full-link digital intelligence becomes a vital engine for sustainable enterprise growth.
Moving forward, JD Industrials will deepen the integration of technological capability and industrial practice, creating more efficient supply-demand coordination mechanisms for industrial supply chains. Together with industry partners, it aims to support Chinese industry in advancing steadily along a path of higher quality and greater sustainability.