Chinese e-commerce giant JD.com posted its first quarterly loss in nearly four years in the fourth quarter of 2025. The disappointing results illustrate the pressure on Chinese online retail from weak consumer spending and fierce competition.
Weak Chinese consumers
JD.com’s revenue rose 1.5% to 352.3 billion yuan (45.3 billion euros) in the fourth quarter, slightly less than analysts had expected. The company posted a loss of 2.7 billion yuan (347 million euros), compared to a profit of 9.9 billion yuan (1.27 billion euros) a year earlier.
