0001193125-23-107486 | 20-F | XBRL Viewer

Accumulated other comprehensive loss

504

3,473

1,586

Treasury stock

(361)

(2,493)

(2,968)

Retained earnings

4,249

29,304

33,805

(139)

(959)

(6,090)

Total JD.com, Inc. shareholders' equity

30,936

213,366

208,911

Non-controlling interests

8,723

60,167

36,661

Total shareholders' equity

39,659

273,533

245,572

Total liabilities, mezzanine equity and shareholders' equity

$ 86,303

¥ 595,250

¥ 496,507

[1]	Absolute value is less than RMB1 million.

Consolidated Balance Sheets (Parenthetical) ¥ in Millions, $ in Millions	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2022 CNY (¥) shares	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2021 CNY (¥) shares
Current liabilities, consolidated VIEs and VIEs' subsidiaries without recourse to the primary beneficiaries	$ 38,648	¥ 266,561		¥ 221,636
Deferred revenues - current	486	3,351		3,458
Deferred revenues - non-current	$ 160	¥ 1,107		¥ 1,297
Ordinary shares, par value (in dollars per share) \| $ / shares	$ 0.00002		$ 0.00002
Ordinary shares, shares authorized (in shares)	100,000,000,000	100,000,000,000	100,000,000,000	100,000,000,000
Class A ordinary shares
Ordinary shares, shares issued (in shares)	2,793,298,344	2,793,298,344	2,731,123,330	2,731,123,330
Ordinary shares, shares outstanding (in shares)	2,756,458,772	2,756,458,772	2,690,342,230	2,690,342,230
Class B ordinary shares
Ordinary shares, shares issued (in shares)	386,374,723	386,374,723	428,185,501	428,185,501
Ordinary shares, shares outstanding (in shares)	379,220,475	379,220,475	420,449,419	420,449,419
Traffic support, marketing and promotion services
Deferred revenues - current \| ¥		¥ 431		¥ 492
Deferred revenues - non-current \| ¥		179		629
Consolidated VIEs and VIEs' subsidiaries without recourse to the primary beneficiaries
Current liabilities, consolidated VIEs and VIEs' subsidiaries without recourse to the primary beneficiaries		¥ 27,450		¥ 22,458

Consolidated Statements of Operations and Comprehensive Income/(Loss) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2022 CNY (¥) ¥ / shares shares	Dec. 31, 2021 CNY (¥) ¥ / shares shares	Dec. 31, 2020 CNY (¥) ¥ / shares shares
Net revenues
Total net revenues	$ 151,690	¥ 1,046,236	¥ 951,592	¥ 745,802
Cost of revenues	(130,366)	(899,163)	(822,526)	(636,694)
Fulfillment	(9,136)	(63,011)	(59,055)	(48,700)
Marketing	(5,476)	(37,772)	(38,743)	(27,156)
Research and development	(2,449)	(16,893)	(16,332)	(16,149)
General and administrative	(1,603)	(11,053)	(11,562)	(6,409)
Gain on sale of development properties	200	1,379	767	1,649
Income/(loss) from operations	2,860	19,723	4,141	12,343
Other income/(expense)
Share of results of equity investees	(318)	(2,195)	(4,918)	4,291
Interest expense	(305)	(2,106)	(1,213)	(1,125)
Others, net	(225)	(1,555)	(590)	35,310
Income/(loss) before tax	2,012	13,867	(2,580)	50,819
Income tax expenses	(605)	(4,176)	(1,887)	(1,482)
Net income/(loss)	1,407	9,691	(4,467)	49,337
Net loss attributable to non-controlling interests shareholders	(101)	(697)	(923)	(75)
Net income attributable to mezzanine equity classified as non-controlling interests shareholders	1	8	16	7
Net income/(loss) attributable to ordinary shareholders	1,507	10,380	(3,560)	49,405
Net income/(loss)	1,407	9,691	(4,467)	49,337
Other comprehensive income/(loss):
Foreign currency translation adjustments	1,132	7,810	(2,872)	(7,955)
Net change in unrealized gains/(losses) on available-for-sale securities:
Unrealized gains, net of tax				705
Reclassification adjustment for gains recorded in net income, net of tax				(760)
Net unrealized losses on available-for-sale securities				(55)
Total other comprehensive income/(loss)	1,132	7,810	(2,872)	(8,010)
Total comprehensive income/(loss)	2,539	17,501	(7,339)	41,327
Total comprehensive income/(loss) attributable to non-controlling interests shareholders	289	1,982	(1,253)	(373)
Total comprehensive income attributable to mezzanine equity classified as non-controlling interests shareholders	1	8	16	7
Total comprehensive income/(loss) attributable to ordinary shareholders	$ 2,249	¥ 15,511	¥ (6,102)	¥ 41,693
Basic
Net income/(loss) per share \| (per share)	$ 0.48	¥ 3.32	¥ (1.15)	¥ 16.35
Diluted
Net income/(loss) per share \| (per share)	$ 0.47	¥ 3.21	¥ (1.15)	¥ 15.84
Weighted average number of shares
Basic \| shares	3,125,571,110	3,125,571,110	3,107,436,665	3,021,808,985
Diluted \| shares	3,180,886,136	3,180,886,136	3,107,436,665	3,109,024,030
Products
Net revenues
Total net revenues	$ 125,422	¥ 865,062	¥ 815,655	¥ 651,879
Service
Net revenues
Total net revenues	$ 26,268	¥ 181,174	¥ 135,937	¥ 93,923

Consolidated Statements of Cash Flows ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Cash flows from operating activities:
Net income/(loss)	$ 1,407	¥ 9,691	¥ (4,467)	¥ 49,337
Adjustments to reconcile net income/(loss) to net cash provided by operating activities:
Depreciation and amortization	1,049	7,236	6,232	6,068
Share-based compensation	1,095	7,548	9,134	4,156
Losses from disposal of property, equipment and software	59	407	18	68
Gain from extinguishment of debt	(1)	(6)		(11)
Deferred income tax	(80)	(549)	(651)	(719)
Amortization of discounts and issuance costs of the unsecured senior notes	2	12	14	19
Allowance for doubtful accounts	134	926	708	353
Impairment of investments	285	1,969	574	208
Fair value change of long-term investments	594	4,096	7,252	(29,483)
(Gains)/losses from acquirements or disposals of business and investment	516	3,558	(140)	(279)
Gain on sale of development properties	(200)	(1,379)	(767)	(1,649)
Share of results of equity investees	318	2,195	4,918	(4,291)
Foreign exchange (gains)/losses	(17)	(114)	(42)	90
Changes in operating assets and liabilities:
Accounts receivable	(1,043)	(7,196)	(5,632)	(412)
Advance to suppliers	1	9	(107)	(2,300)
Inventories	(330)	(2,278)	(16,697)	799
Prepayments and other current assets	(288)	(1,969)	(2,539)	(260)
Amount due from related parties	256	1,763	(278)	583
Operating lease right-of-use assets	(76)	(525)	(4,045)	(2,922)
Other non-current assets	348	2,397	(1,701)	(871)
Accounts payable	2,560	17,658	32,585	11,095
Advance from customers	656	4,526	8,702	4,052
Deferred revenues	(46)	(319)	(243)	(235)
Taxes payable	465	3,206	(468)	849
Amount due to related parties	123	847	(66)	282
Accrued expenses and other current liabilities	478	3,295	5,257	4,784
Operating lease liabilities	102	705	4,180	3,233
Other non-current liabilities	16	110	570
Net cash provided by operating activities	8,383	57,819	42,301	42,544
Cash flows from investing activities:
Purchase of short-term investments	(26,140)	(180,291)	(167,684)	(60,747)
Maturity of short-term investments	23,936	165,093	113,362	25,148
Purchases of long-term time deposits and wealth management products	(438)	(3,019)	(160)	(5,000)
Maturity of long-term time deposits and wealth management products	4	30
Purchases of investment securities			(2,656)	(1,122)
Cash received from disposal of investment securities	920	6,348	13,165	9,139
Prepayments and investments in equity investees	(653)	(4,501)	(11,576)	(16,939)
Cash received from disposal of equity investments	60	412	407	1,092
Cash paid for loan originations	(11,248)	(77,577)	(82,197)	(60,304)
Cash received from loan repayments	11,270	77,732	80,561	60,879
Purchase of property, equipment and software	(797)	(5,495)	(5,562)	(3,370)
Disposal of equipment and other assets	206	1,418	1,765
Purchase of intangible assets	(1)	(10)	(23)	(19)
Cash paid for asset acquisitions, net of cash acquired	(315)	(2,170)	(1,603)
Purchase of land use rights	(759)	(5,236)	(7,825)	(1,518)
Cash paid for construction in progress	(1,765)	(12,172)	(8,868)	(7,549)
Cash received from sale of development properties	244	1,686	3,549	4,787
Cash received from/(paid for) business combinations, net of cash acquired	(2,274)	(15,684)	(321)	671
Loans provided to JD Technology	(73)	(502)	(169)	(2,342)
Other investing activities	(10)	(88)	1,587	(617)
Net cash used in investing activities	(7,833)	(54,026)	(74,248)	(57,811)
Cash flows from financing activities:
Proceeds from issuance of ordinary shares				31,342
Repurchase of ordinary shares	(264)	(1,823)	(5,246)	(312)
Proceeds from issuance of ordinary shares pursuant to share-based awards	151	1,043	62	236
Cash paid for dividends	(1,897)	(13,087)	0	0
Proceeds from issuance of convertible redeemable preferred shares of JD Logistics				443
Capital injection from non-controlling interest shareholders	1,163	8,020	27,662	34,579
Return of capital to non-controlling interests	(5)	(36)	(68)
Acquisition of additional equity interests in non-wholly owned subsidiaries	(664)	(4,581)	(775)
Proceeds from short-term borrowings	4,815	33,208	7,133	14,766
Repayment of short-term borrowings	(4,611)	(31,804)	(5,982)	(16,582)
Proceeds from long-term borrowings	2,044	14,101
Repayment of long-term borrowings	(527)	(3,635)	(29)	(123)
Proceeds from unsecured senior notes				6,804
Repurchase and repayment of unsecured senior notes	(4)	(31)	(3,246)	(72)
Other financing activities	(30)	(195)	(8)	(9)
Net cash provided by financing activities	171	1,180	19,503	71,072
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	506	3,490	(1,498)	(5,082)
Net increase/(decrease) in cash, cash equivalents, and restricted cash	1,227	8,463	(13,942)	50,723
Cash, cash equivalents, and restricted cash at beginning of year, including cash and cash equivalents classified within assets held for sale	11,119	76,693	90,635	39,912
Less: cash, cash equivalents, and restricted cash classified within assets held for sale at beginning of year			116
Cash, cash equivalents, and restricted cash at beginning of year	11,119	76,693	90,519	39,912
Cash, cash equivalents, and restricted cash at end of year, including cash and cash equivalents classified within assets held for sale	12,346	85,156	76,693	90,635
Less: cash, cash equivalents, and restricted cash classified within assets held for sale at end of year	5	41		116
Cash, cash equivalents, and restricted cash at end of year	12,341	85,115	76,693	90,519
Supplemental disclosure of cash flow information:
Cash paid for income taxes	(370)	(2,555)	(2,538)	(1,190)
Cash paid for interest	(347)	(2,393)	(1,221)	(1,020)
Supplemental disclosures of non-cash investing and financing activities:
Issuance of ordinary shares in connection with strategic cooperation agreement with Tencent	65	448	463	549
Right-of-use assets acquired under operating leases	1,116	7,700	¥ 10,228	10,678
Acquisition of equity interest in Jiangsu Five Star by loan conversion				1,025
Acquisition of equity interest in Kuayue Express by issuance of ordinary shares of JD Logistics				¥ 116
Acquisition of equity interest in Dada by strategic resources	$ 233	¥ 1,606

Consolidated Statements of Changes in Shareholders' Equity
¥ in Millions, $ in Millions

USD ($)

CNY (¥)

Ordinary shares

CNY (¥)

Treasury stock

CNY (¥)

Additional paid-in capital

CNY (¥)

Statutory reserves

CNY (¥)

Accumulated other comprehensive income/(loss)

CNY (¥)

Retained earnings/ (accumulated deficit)

CNY (¥)

Non-controlling interests

CNY (¥)

Balance (in shares) at Dec. 31, 2019 | shares

2,973,943,149

(49,627,886)

Balance at Dec. 31, 2019

¥ 84,660

¥ 0

^[1]

¥ (2,530)

¥ 90,677

¥ 1,459

¥ 4,163

¥ (11,913)

¥ 2,804

Increase (Decrease) in Stockholders' Equity

Issuance of ordinary shares

31,864

¥ 0

^[1]

31,864

Issuance of ordinary shares (in shares) | shares

155,850,684

Repurchase of ordinary shares

(312)

¥ (312)

Repurchase of ordinary shares (in shares) | shares

(2,382,740)

Accretion of convertible redeemable non-controlling interests

(7)

Exercise of share-based awards

209

¥ 335

(115)

(11)

Exercise of share-based awards (in shares) | shares

5,073,294

Share-based compensation and vesting of share-based awards

4,156

¥ 1,289

1,775

1,092

Share-based compensation and vesting of share-based awards (in shares) | shares

20,642,538

Net income/(loss)

49,337

49,412

(75)

Foreign currency translation adjustments

(7,955)

(7,656)

(299)

Net change in unrealized gains/(losses) on available-for-sale debt securities

(55)

Change of the capital from non-controlling interest shareholders

(74)

34,875

23,548

11,327

Acquisition of subsidiaries and assets

2,634

529

2,105

Share of changes in the equity investee's capital accounts

(574)

Conversion of profit sharing right in JD Technology

5,654

Balance at Dec. 31, 2020

204,486

¥ 0

^[1]

¥ (1,218)

153,358

1,533

(3,548)

37,418

16,943

Balance (in shares) at Dec. 31, 2020 | shares

3,129,793,833

(26,294,794)

Increase (Decrease) in Stockholders' Equity

Issuance of ordinary shares

463

¥ 0

^[1]

463

Issuance of ordinary shares (in shares) | shares

1,914,998

Issuance of Class A ordinary shares reserved for future exercise/vesting of share-based awards

^[1]

¥ 0

Issuance of Class A ordinary shares reserved for future exercise /vesting of share-based awards (in shares) | shares

27,600,000

(27,600,000)

Repurchase of ordinary shares

(5,246)

¥ (5,246)

Repurchase of ordinary shares (in shares) | shares

(20,429,654)

Accretion of convertible redeemable non-controlling interests

(16)

Exercise of share-based awards

¥ 252

(195)

(7)

Exercise of share-based awards (in shares) | shares

1,962,856

Share-based compensation and vesting of share-based awards

10,270

¥ 3,244

2,124

4,902

Share-based compensation and vesting of share-based awards (in shares) | shares

23,844,410

Net income/(loss)

(4,467)

(3,544)

(923)

Foreign currency translation adjustments

(2,872)

(2,542)

(330)

Change of the capital from non-controlling interest shareholders

(53)

26,832

15,960

10,872

Conversion of JD Logistics preferred shares

16,403

11,799

4,604

Reorganization of JD Cloud & AI

(901)

Acquisition of subsidiaries and assets

600

Share of changes in the equity investee's capital accounts

(30)

Balance at Dec. 31, 2021

245,572

¥ 0

^[1]

¥ (2,968)

182,578

1,586

(6,090)

33,805

36,661

Balance (in shares) at Dec. 31, 2021 | shares

3,159,308,831

(48,517,182)

Increase (Decrease) in Stockholders' Equity

Issuance of ordinary shares

448

¥ 0

^[1]

448

Issuance of ordinary shares (in shares) | shares

2,164,236

Issuance of Class A ordinary shares reserved for future exercise/vesting of share-based awards

^[1]

¥ 0

Issuance of Class A ordinary shares reserved for future exercise /vesting of share-based awards (in shares) | shares

18,200,000

(18,200,000)

Dividends

(12,994)

Repurchase of ordinary shares

(1,823)

¥ (1,823)

Repurchase of ordinary shares (in shares) | shares

(10,020,406)

Accretion of convertible redeemable non-controlling interests

(8)

Exercise of share-based awards

1,057

¥ 654

403

Exercise of share-based awards (in shares) | shares

9,620,476

Share-based compensation and vesting of share-based awards

7,683

¥ 1,644

2,416

3,623

Share-based compensation and vesting of share-based awards (in shares) | shares

23,123,292

Net income/(loss)

$ 1,407

9,691

10,388

(697)

Foreign currency translation adjustments

7,810

5,131

2,679

Change of the capital from non-controlling interest shareholders

1,887

(1,887)

2,623

(1,801)

4,424

Acquisition of subsidiaries and assets

13,868

Disposal of subsidiaries

(392)

(1)

(391)

Share of changes in the equity investee's capital accounts

(2)

Balance at Dec. 31, 2022

$ 39,659

¥ 273,533

¥ 0

^[1]

¥ (2,493)

¥ 184,041

¥ 3,473

¥ (959)

¥ 29,304

¥ 60,167

Balance (in shares) at Dec. 31, 2022 | shares

3,179,673,067

(43,993,820)

[1]	Absolute value is less than RMB1 million.

Principal activities and organization

12 Months Ended

Dec. 31, 2022

Principal activities and organization

Principal activities and organization

1.	Principal activities and organization

JD.com, Inc. (the “Company”) is a leading supply chain-based technology and service provider, providing products and services to consumers, third-party merchants, suppliers and other business partners through its subsidiaries, consolidated variable interest entities (“VIEs”) and consolidated VIEs’ subsidiaries (collectively, the “Group”).

The Group operates e-commerce business, including online retail and online marketplace mainly through its retail mobile apps and www.jd.com website (collectively, “JD Platform”). The Group serves consumers through online retail, focusing on product selection, price and convenience, serves third-party merchants through online marketplace, offering programs that enable the merchants to sell their products on JD Platform and to fulfill the orders either by themselves or through the Group’s logistics services. Leveraging its AI capabilities and technologies, the Group provides a variety of marketing services to business partners through its proprietary advertisement technology platform. Leveraging its leading logistics network, the Group provides integrated supply chain solutions and logistics services, primarily including warehousing and distribution services, express and freight services and other value-added services to third parties, including both third-party merchants and suppliers on JD Platform and other business partners, through JD Logistics, Inc. (“JD Logistics”), the Group’s logistics subsidiary. The Group also operates healthcare business through JD Health International Inc. (“JD Health”), establishes platform for developing and managing modern infrastructure through JINGDONG Property, Inc. (“JD Property”, formerly known as JD Property Group Corporation), empowers industrial development by supply chain, technology and services through JINGDONG Industrials, Inc. (“JD Industrials”, formerly known as JD Industrial Technology Inc.) and provides on-demand retail platform services and on-demand delivery services through Dada Nexus Limited (“Dada”).

On June 18, 2020, the Company completed its global offering and the Company’s shares have been listed on the Main Board of The Stock Exchange of Hong Kong Limited (“HKEX”) under the stock code “9618”. The Company issued 152,912,100 Class A ordinary shares, including the exercise of the over-allotment option, at Hong Kong Dollar (“HK$”) 226 per share. Net proceeds from the global offering after deducting underwriting commissions, share issuance costs and offering expenses approximately amounted to RMB31.3 billion.

On December 8, 2020 and May 28, 2021, JD Health and JD Logistics completed initial public offering (“IPO”) and the shares have been listed on the Main Board of the HKEX under the stock code “6618” and “2618”, respectively.

The Group’s principal operations and geographic markets are in the People’s Republic of China (“PRC”). The accompanying consolidated financial statements include the financial statements of the Company, its subsidiaries, consolidated VIEs and consolidated VIEs’ subsidiaries.

As of December 31, 2022, the Company’s major subsidiaries, consolidated VIEs and consolidated VIEs’ subsidiaries are as follows:


	Equity interest held	Place and date of incorporation
Subsidiaries
Beijing Jingdong Century Trade Co., Ltd. (“Jingdong Century”)	100%	Beijing, China, April 2007
Jiangsu Jingdong Information Technology Co., Ltd.	100%	Jiangsu, China, June 2009
Shanghai Shengdayuan Information Technology Co., Ltd. (“Shanghai Shengdayuan”)	100%	Shanghai, China, April 2011
JD Logistics Holding Limited	64%	Hong Kong, China, August 2011
Jingdong Technology Group Corporation	100%	Cayman Islands, November 2011
JINGDONG Property, Inc.	77%	Cayman Islands, January 2012
JD Logistics, Inc.	64%	Cayman Islands, January 2012
JD.com E-Commerce (Technology) Hong Kong Co., Ltd.	100%	Hong Kong, China, February 2012
Jingdong E-Commerce (Trade) Hong Kong Co., Ltd.	100%	Hong Kong, China, February 2012
JD.com International Limited	100%	Hong Kong, China, February 2012
Beijing Jingdong Shangke Information Technology Co., Ltd. (“Beijing Shangke”)	100%	Beijing, China, March 2012
Chongqing Jingdong Haijia E-commerce Co., Ltd. (“Chongqing Haijia”)	100%	Chongqing, China, June 2014
JD.com Overseas Innovation Limited	100%	Hong Kong, China, October 2014
JD.com Investment Limited	100%	British Virgin Islands, January 2015
JD Asia Development Limited	77%	British Virgin Islands, February 2015
Suqian Hanbang Investment Management Co., Ltd.	100%	Jiangsu, China, January 2016
Xi’an Jingxundi Supply Chain Technology Co., Ltd. (“Xi’an Jingxundi”)	64%	Shaanxi, China, May 2017
JD Assets Holding Limited	100%	Cayman Islands, March 2018
JD Property Holding Limited	100%	Cayman Islands, March 2018
Beijing Wodong Tianjun Information Technology Co., Ltd. (“Beijing Wodong Tianjun”)	100%	Beijing, China, May 2018
JD Health International Inc.	68%	Cayman Islands, November 2018
JD Jiankang Limited	100%	British Virgin Islands, April 2019
JD Industrial Technology Limited	100%	British Virgin Islands, October 2019
JINGDONG Industrials, Inc.	81%	Cayman Islands, November 2019
Jingdong Logistics Supply Chain Co., Ltd.	64%	Jiangsu, China, June 2020
Jiangsu Huiji Space Technology Co., Ltd. (“Jiangsu Huiji”)	100%	Jiangsu, China, March 2019
JD Sunflower Investment Limited	100%	British Virgin Islands, February 2016
Windcreek Limited	100%	British Virgin Islands, January 2016
Dada Nexus Limited (“Dada”)	53%	Cayman Islands, July 2014

Consolidated VIEs
Beijing Jingdong 360 Degree E-commerce Co., Ltd. (“Jingdong 360”)		Beijing, China, April 2007
Jiangsu Yuanzhou E-commerce Co., Ltd. (“Jiangsu Yuanzhou”)		Jiangsu, China, September 2010
Jiangsu Jingdong Bangneng Investment Management Co., Ltd. (“Jingdong Bangneng”)		Jiangsu, China, August 2015
Xi’an Jingdong Xincheng Information Technology Co., Ltd. (“Xi’an Jingdong Xincheng”)		Shaanxi, China, June 2017
Suqian Juhe Digital Enterprise Management Co., Ltd. (“Suqian Juhe”)		Jiangsu, China, June 2020

Consolidated VIEs’ Subsidiaries
Beijing Jingbangda Trade Co., Ltd. (“Beijing Jingbangda”)		Beijing, China, August 2012
Beijing Jingdong Qianshi Technology Co., Ltd.		Beijing, China, September 2018

•

Organization

The Company was incorporated in the British Virgin Islands (“BVI”) in November 2006 and was

re-domiciled

in the Cayman Islands in January 2014 as an exempted company registered under the laws of the Cayman Islands.

In April 2007, April 2011, May 2017, March 2019 and June 2019, the Company established Jingdong Century, Shanghai Shengdayuan, Xi’an Jingxundi, Jiangsu Huiji and Beijing Jingdong Jiankang Co., Ltd. (“Jingdong Jiankang”) as wholly foreign-owned enterprises in the PRC, respectively. In April 2007, September 2010, August 2015, June 2017, June 2019 and June 2020, Jingdong 360, Jiangsu Yuanzhou, Jingdong Bangneng, Xi’an Jingdong Xincheng, Suqian Jingdong Tianning Jiankang Technology Co., Ltd. (“Suqian Jingdong Tianning”) and Suqian Juhe were incorporated in the PRC, respectively. The

paid-in

capital of each of these entities was funded by the Company, and they were established to facilitate the Group’s operation and business expansion plans and comply with the PRC laws and regulations which prohibit or restrict foreign ownership of the companies where the PRC operating licenses are required. By entering into a series of agreements, Jingdong 360, Jiangsu Yuanzhou and Jingdong Bangneng became VIEs of Jingdong Century, Xi’an Jingdong Xincheng became a VIE of Xi’an Jingxundi, Suqian Jingdong Tianning became a VIE of Jingdong Jiankang and Suqian Juhe became a VIE of Jiangsu Huiji. Consequently, Jingdong Century became the primary beneficiary of Jingdong 360, Jiangsu Yuanzhou and Jingdong Bangneng, Xi’an Jingxundi became the primary beneficiary of Xi’an Jingdong Xincheng, Jingdong Jiankang became the primary beneficiary of Suqian Jingdong Tianning and Jiangsu Huiji became the primary beneficiary of Suqian Juhe. In September 2022, the Group renewed certain agreements, among which Jiangsu Yuanzhou and Jingdong Bangneng became VIEs of Shanghai Shengdayuan and Shengdayuan became the primary beneficiary of Jiangsu Yuanzhou and Jingdong Bangneng.

•

Consolidated variable interest entities

In order to comply with the PRC laws and regulations which prohibit or restrict foreign control of companies involved in provision of internet content and other restricted businesses, the Group operates its websites and other restricted businesses in the Chinese mainland through certain PRC domestic companies, whose equity interests are held by certain individuals (“Nominee Shareholders”). The Group obtained control over these PRC domestic companies by entering into a series of contractual arrangements with these PRC domestic companies and their respective Nominee Shareholders. These contractual agreements are substantially similar in key aspects governing the contractual arrangements with a variable interest entity of the Group, include loan agreements, exclusive purchase option agreements, exclusive technology consulting and services agreements or exclusive business cooperation agreements, as applicable, intellectual property rights license agreement, equity pledge agreements, powers of attorney, business cooperation agreement and business operation agreements. These contractual agreements can be extended at the Group’s relevant PRC subsidiaries’ options prior to the expiration date. Management concluded that these PRC domestic companies are consolidated VIEs of the Group, of which the Group is the ultimate primary beneficiary. As such, the Group consolidated the financial results of these PRC domestic companies and their subsidiaries in the Group’s consolidated financial statements. Refer to Note 2(b) to the consolidated financial statements for the principles of consolidation.

The following is a summary of the contractual agreements (collectively, “Contractual Agreements”) that the Group, through its subsidiaries, entered into with the consolidated VIEs and their Nominee Shareholders:

•

Loan agreements

Pursuant to the relevant loan agreements, the Group’s relevant PRC subsidiaries have granted interest-free loans to the relevant Nominee Shareholders of the VIEs with the sole purpose of providing funds necessary for the capital injection to the relevant VIEs. The loans for initial and subsequent capital injections are eliminated with the capital of the relevant VIEs during consolidation. The Group’s relevant PRC subsidiaries can require the Nominee Shareholders to settle the loan amount with the equity interests of the relevant VIEs, subject to any applicable PRC laws, rules and regulations. The loan agreements are renewable upon expiration.

•

Exclusive purchase option agreements

The Nominee Shareholders of the VIEs have granted the Group’s relevant PRC subsidiaries the exclusive and irrevocable rights to purchase from the Nominee Shareholders, to the extent permitted under the PRC laws and regulations, part or all of the equity interests in these entities for a purchase price equal to the lowest price permitted by the PRC laws and regulations. The Group’s relevant PRC subsidiaries may exercise such option at any time. In addition, the VIEs and their Nominee Shareholders have agreed that without prior written consent of the Group’s relevant PRC subsidiaries, they will not transfer or otherwise dispose the equity interests or declare any dividend.

•

Exclusive technology consulting and services agreements or exclusive business cooperation agreements

The Group’s relevant PRC subsidiaries and relevant VIEs entered into exclusive technology consulting and services agreements or exclusive business cooperation agreements, as applicable, under which the relevant VIEs engage the Group’s relevant PRC subsidiaries as their exclusive provider of technical platform and technical support, business support, maintenance and other services. The VIEs shall pay to the Group’s relevant PRC subsidiaries service fees determined based on the volume and market price of the service provided. All the benefits and interests generated from the agreements, including but not limited to intellectual property rights,

know-how

and trade secrets, will be the Group’s relevant PRC subsidiaries’ sole and exclusive rights. During the term of the agreements, the relevant VIEs may not enter into any agreement with third parties for the provision of identical or similar services without prior consent of the Group’s relevant PRC subsidiaries.

•

Equity pledge agreements

Pursuant to the relevant equity pledge agreements, the Nominee Shareholders of the VIEs have pledged all of their equity interests in the relevant VIEs to the Group’s relevant PRC subsidiaries as collateral for all of their payments due to the Group’s relevant PRC subsidiaries and to secure their obligations under the above agreements. The Nominee Shareholders may not transfer or assign the equity interests, the rights and obligations in the equity pledge agreements or create or permit to create any pledges which may have an adverse effect on the rights or benefits of the Group’s relevant PRC subsidiaries without the Group’s relevant PRC subsidiaries’ preapproval. The Group’s relevant PRC subsidiaries are entitled to transfer or assign in full or in part the equity interests pledged. In the event of default, the Group’s relevant PRC subsidiaries as the pledgee, will be entitled to request immediate repayment of the loans or to dispose of the pledged equity interests through transfer or assignment.

•

Powers of attorney

Pursuant to the irrevocable powers of attorney, each of the Nominee Shareholders appointed any person designated by the Group’s relevant PRC subsidiaries as their

attorney-in-fact

to exercise all shareholder rights under the PRC laws and the relevant articles of association, including but not limited to, voting on their behalf on all matters requiring shareholder approval, disposing of all or part of the Nominee Shareholders’ equity interests, and electing, appointing or removing directors and the general managers of the VIEs. Each power of attorney will remain in force during the period when the Nominee Shareholders continue to be the shareholders of the VIEs. Each of the Nominee Shareholders has waived all the rights which have been authorized to the person designated by the Group’s relevant PRC subsidiaries under each power of attorney.

•

Business operation agreements

Pursuant to the business operation agreements, the relevant Nominee Shareholders of the VIEs must appoint the candidates nominated by the Group’s relevant PRC subsidiaries to be the directors on the VIEs’ board of directors in accordance with applicable laws and the articles of association of the VIEs, and must cause the persons recommended by the Group’s relevant PRC subsidiaries to be appointed as the VIEs’ general manager, chief financial officer and other senior executives.

•

Risks in relations to the VIE structure

The Company believes that the contractual arrangements among its subsidiaries, the VIEs and their owners are in compliance with the current PRC laws and legally enforceable. However, uncertainties in the interpretation and enforcement of the PRC laws, regulations and policies could limit the Company’s ability to enforce these contractual arrangements. As a result, the Company may be unable to consolidate the VIEs and VIEs’ subsidiaries in the consolidated financial statements. The Company’s ability to control the VIEs also depends on the authorization by the shareholders of the VIEs to exercise voting rights on all matters requiring shareholders’ approval in the VIEs. The Company believes that the agreements on authorization to exercise shareholders’ voting power are legally enforceable. In addition, if the legal structure and contractual arrangements with the VIEs are found to be in violation of any future PRC laws and regulations, the Company may be subject to fines or potentially be forced to relinquish Company’s interests in those operations. The Company believes the possibility that it will no longer be able to control and consolidate the VIEs as a result of the aforementioned risks is remote.

The following table sets forth the assets, liabilities, results of operations and changes in cash, cash equivalents, and restricted cash of the consolidated VIEs (where appropriate, the term “VIEs” also refers to its subsidiaries as a whole) structured by the Contractual Agreements, which have eliminated the intercompany transactions within the consolidated VIEs:


	As of December 31,
	2021		2022

	(RMB in millions)
Total assets		80,138		78,162
Total liabilities		77,858		74,553


	For the year ended December 31,
	2020			2021			2022

	(RMB in millions)
Total net revenues		86,054			117,419			134,516
Net income/(loss)		(422	)		(3,069	)		1,137


	For the year ended December 31,
	2020			2021			2022

	(RMB in millions)
Net cash provided by operating activities		9,912			1,593			5,434
Net cash used in investing activities		(11,053	)		(10,089	)		(4,498	)
Net cash provided by/(used in) financing activities		2,659			11,611			(1,306	)

Net increase/(decrease) in cash, cash equivalents, and restricted cash		1,518			3,115			(370)
Cash, cash equivalents, and restricted cash at beginning of year		927			2,445			5,560

Cash, cash equivalents, and restricted cash at end of year		2,445			5,560			5,190

As of December 31, 2021 and 2022, the total assets of the Group’s consolidated VIEs excluding the intra-company balances and transactions within the Group

were RMB77,734 million and RMB71,527 million, respectively, which were consisting of cash and cash equivalents, restricted cash, short-term investments, accounts receivable, net, inventories, net, investment securities, investment in equity investees, property, equipment and software, net, operating lease

right-of-use

assets and prepayments and other assets. As of December 31, 2021 and 2022, the total liabilities of the consolidated VIEs after eliminating the intra-company balances and transactions within the Group were RMB32,642 million and RMB39,368

million, respectively, which were consisting of short-term debts, accounts payable, operating lease liabilities, long-term borrowings, accrued expenses and other liabilities.

For the years ended December 31, 2020, 2021 and 2022, the total net revenues of the Group’s consolidated VIEs were RMB36,976 million, RMB59,124 million and RMB72,666 million, respectively, which have been reflected in the Group’s consolidated financial statements with the intra-company transactions within the Group eliminated.

In accordance with the Contractual Agreements, the Group’s relevant PRC subsidiaries have the power to direct activities of the Group’s consolidated VIEs, and can have assets transferred out of the Group’s consolidated VIEs. Therefore, the Group’s relevant PRC subsidiaries consider that there is no asset in the Group’s consolidated VIEs that can be used only to settle their obligations except for registered capitals and the PRC statutory reserves of the Group’s consolidated VIEs amounting to RMB3,217 million as of December 31, 2022. As the Group’s consolidated VIEs are incorporated as limited liability companies under the PRC Company Law, the creditors do not have recourse to the general credit of the Group’s relevant PRC subsidiaries for all the liabilities of the Group’s consolidated VIEs. As of December 31, 2021 and 2022, the total shareholders’ equity of the Group’s consolidated VIEs was RMB1,535 million and RMB3,609 million, respectively.

Currently there is no contractual arrangement that could require the Group’s relevant PRC subsidiaries or the Group to provide additional financial support to the Group’s consolidated VIEs. As the Group conducts certain businesses in the Chinese mainland through the consolidated VIEs, the Group may provide additional financial support on a discretionary basis in the future, which could expose the Group to a loss.

Summary of significant accounting policies

12 Months Ended

Dec. 31, 2022

Summary of significant accounting policies

Summary of significant accounting policies

2.	Summary of significant accounting policies

a. Basis of presentation

The consolidated financial statements of the Group have been prepared in accordance with the accounting principles generally accepted in the United States of America (“U.S. GAAP”). Significant accounting policies followed by the Group in the preparation of the accompanying consolidated financial statements are summarized below. All amounts, except for share, per share data or otherwise noted, are rounded to the nearest million.

b. Principles of consolidation

The consolidated financial statements include the financial statements of the Company, its subsidiaries and the consolidated VIEs for which the Company is the ultimate primary beneficiary. Subsidiaries are those entities in which the Company, directly or indirectly, controls more than one half of the voting power; or has the power to govern the financial and operating policies, to appoint or remove the majority of the members of the board of directors, or to cast a majority of votes at the meeting of directors.

A consolidated VIE is an entity in which the Company, or its subsidiaries, through the Contractual Arrangements, bear the risks of, and enjoy the rewards normally associated with, ownership of the entity, and therefore the Company or its subsidiaries are the primary beneficiary of the entity.

All transactions and balances among the Company, its subsidiaries and the consolidated VIEs have been eliminated upon consolidation.

c. Reclassifications

Certain reclassifications have been made to the prior years’ consolidated financial statements to conform to the current year’s presentation. These reclassifications had no impact on net income/(loss), shareholders’ equity, or cash flows as previously reported.

Non-controlling

interests

For the Company’s consolidated subsidiaries and VIEs,

non-controlling

interests are recognized to reflect the portion of their equity that is not attributable, directly or indirectly, to the Company as the controlling shareholder.

Non-controlling

interests are classified as a separate line item in the equity section of the Group’s consolidated balance sheets and have been separately disclosed in the Group’s consolidated statements of operations and comprehensive income/(loss) to distinguish the interests from that of the Company.

e. Use of estimates

The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, related disclosures of contingent liabilities at the balance sheet date, and the reported revenues and expenses during the reported period in the consolidated financial statements and accompanying notes. Significant accounting estimates are used for, but not limited to, returns allowance, vendor rebates and customer incentives, determination of the stand-alone selling price (“SSP”), the valuation and recognition of share-based compensation arrangements, taxation, fair value of assets and liabilities acquired in business combinations, fair value of certain equity investees, assessment for impairment of long-lived assets, investment in equity investees, investment securities and goodwill, allowance for doubtful accounts including expected credit losses, inventory reserve for excess and obsolete inventories, lower of cost and net realizable value of inventories, depreciable lives of property, equipment and software, useful lives of intangible assets, the discount rate for lease and consolidation of VIEs. Actual results may differ materially from those estimates.

In March 2020, the World Health Organization declared the outbreak of a disease caused by a novel strain of the coronavirus

(“COVID-19”)

to be a pandemic. After the initial outbreak of the

COVID-19,

some instances of

COVID-19

infections have emerged from time to time. China continuously optimized and adjusted COVID-19 prevention and control measures with the aim of protecting health, and lifted most of the travel restrictions and quarantine requirements in December 2022. The

COVID-19

pandemic has created and may continue to create significant uncertainty in the macroeconomic environment which, in addition to other unforeseen effects of this pandemic, may adversely impact the Group’s results of operations. The extent to which

COVID-19

would impact the results of operations is contingent on the future developments of the outbreak, including constant updates concerning the global severity of and actions needed to contain the outbreak, which are highly uncertain and unpredictable. Due to the uncertainty and the economic implications on global economics conditions from the

COVID-19

pandemic, certain estimates and assumptions may change in the near term.

f. Foreign currency translation

The Group’s reporting currency is RMB. The functional currency of the Group’s entities incorporated in Cayman Islands, BVI, Hong Kong, Singapore and the United States of America is U.S. dollars (“US$”). The Group’s PRC subsidiaries and consolidated VIEs determined their functional currency to be RMB. The Group’s entities incorporated in the Republic of Indonesia, Japan, France, Australia and other jurisdictions generally use their respective local currencies as their functional currencies. The determination of the respective functional currency is based on the criteria of ASC Topic 830,

Foreign Currency Matters

Transactions denominated in currencies other than functional currency are translated into functional currency at the exchange rates quoted by authoritative banks prevailing at the dates of the transactions. Exchange gains and losses resulting from those foreign currency transactions denominated in a currency other than the functional currency are recorded as a component of others, net in the consolidated statements of operations and comprehensive income/(loss). Total exchange gains/(losses) were a loss of RMB90 million, a gain of RMB42 million and a gain of RMB114 million for the years ended December 31, 2020, 2021 and 2022, respectively.

The consolidated financial statements of the Group are translated from the functional currency into RMB. Assets and liabilities denominated in foreign currencies are translated into RMB using the applicable exchange rates at the balance sheet date. Equity accounts other than earnings generated in current year are translated into RMB at the appropriate historical rates. Revenues, expenses, gains and losses are translated into RMB using the periodic average exchange rates. The resulting foreign currency translation adjustments are recorded in accumulated other comprehensive income/(loss) as a component of shareholders’ equity. Total foreign currency translation adjustments to the Group’s other comprehensive income/(loss) were a loss of RMB7,955 million, a loss of RMB2,872 million and a gain of RMB7,810 million for the years ended December 31, 2020, 2021 and 2022, respectively.

g. Convenience translation

Translations of the consolidated balance sheets, the consolidated statements of operations and comprehensive income/(loss) and the consolidated statements of cash flows from RMB into US$ as of and for the year ended December 31, 2022 are solely for the convenience of the readers and were calculated at the rate of US$1.00=RMB6.8972, representing the noon buying rate set forth in the H.10 statistical release of the U.S. Federal Reserve Board on December 30, 2022. No representation is made that the RMB amounts could have been, or could be, converted, realized or settled into US$ at that rate on December 31, 2022, or at any other rate.

h. Cash and cash equivalents

Cash and cash equivalents consist of cash on hand, money market fund investments, time deposits and highly liquid investments which have original maturities of three months or less.

i. Restricted cash

Cash that is restricted as to withdrawal or for use or pledged as security is reported separately on the face of the consolidated balance sheets, and is included in the total cash, cash equivalents, and restricted cash in the consolidated statements of cash flows. The Group’s restricted cash mainly represents security deposits held in designated bank accounts for issuance of bank acceptance and letter of guarantee.

j. Short-term investments

Short-term investments mainly include wealth management products, which are certain deposits with variable interest rates or principal

not-guaranteed

with certain financial institutions. Starting from 2021, the Group elects the fair value option to record wealth management products with variable interest rates and deposits indexed to foreign exchange with maturities less than one year at fair value in accordance with ASC 825

Financial Instruments

. Changes in the fair value are reflected in the consolidated statements of operations and comprehensive income/(loss). The Group also holds deposits that earn fixed interest rate return only if the Group hold the securities to maturity. As the Group has the positive intent and ability to hold the deposits to maturity, they are classified as held-to-maturity and recorded at amortized cost. Prior to 2021, the Group recorded equity classified securities at fair market value with fair value change gains or losses recorded in interest income in the consolidated statements of operations and comprehensive income/(loss) and recorded debt classified securities as

available-for-sale

debt securities and

held-to-maturity

securities.

Available-for-sale

securities were reported at fair value, with unrealized gains and losses recorded in accumulated other comprehensive income. Realized gains or losses were included in interest income in the consolidated statements of operations and comprehensive income/(loss) during the period in which the gain or loss was realized.

In addition, short-term investments are also comprised of time deposits placed with banks with original maturities longer than three months but less than one year.

k. Accounts receivable, net

Accounts receivable mainly represent amounts due from customers and online payment channels and are recorded net of allowance for doubtful accounts.

The Group, in collaboration with Jingdong Technology Holding Co., Ltd. (“JD Technology”, formerly known as Jingdong Digits Technology Holding Co., Ltd), provides consumer financing to the qualified customers in the online retail business, such consumer financing receivables are recorded as accounts receivable. Due to the legacy contractual arrangements with JD Technology, the Group remains as the legal owner of the consumer financing receivables, where JD Technology performs the related credit assessment.

JD Technology is obligated to purchase the consumer financing receivables past due over certain agreed period of time from the Group at carrying values to absorb the risks, as such, no allowance for doubtful accounts were provided. The Group, in collaboration with JD Technology, periodically securitizes consumer financing receivables through the transfer of those assets to securitization vehicles, please refer to Note 2(v).

Other than the accounts receivable arising from the consumer financing, the Group evaluates its accounts receivable for expected credit losses on a regular basis. The Group maintains an estimated allowance for credit losses to reduce its accounts receivable to the amount that it believes will be collected. The Group uses the length of time a balance has been outstanding, the payment history, creditworthiness and financial conditions of the customers and industry trend as credit quality indicators to monitor the Group’s receivables within the scope of expected credit losses model, along with reasonable and supportable forecasts as a basis to develop the Group’s expected loss estimates. The Group adjusts the allowance percentage periodically when there are significant differences between estimated bad debts and actual bad debts. If there is strong evidence indicating that the accounts receivable is likely to be unrecoverable, the Group also makes specific allowance in the period in which a loss is determined to be probable. Accounts receivable balances are written off after all collection efforts have been exhausted.

l. Inventories, net

Inventories, consisting of products available for sale, are stated at the lower of cost and net realizable value. Cost of inventories is determined using the weighted average cost method. Adjustments are recorded to write down the cost of inventories to the estimated net realizable value due to slow-moving merchandise and damaged goods, which is dependent upon factors such as inventory aging, historical and forecasted consumer demand, and market conditions that impact pricing. The Group takes ownership, risks and rewards of the products purchased, but has arrangements to return unsold goods with certain vendors. Write downs are recorded in cost of revenues in the consolidated statements of operations and comprehensive income/(loss).

The Group also provides fulfillment-related services in connection with the Group’s online marketplace. Third-party merchants maintain ownership of their inventories and therefore these products are not included in the Group’s inventories.

m. Loan receivables, net

Loan receivables represent the consumer financing, in collaboration with JD Technology, provided to qualified individual customers on the Group’s online marketplace. Due to the legacy contractual arrangements with JD Technology, the Group remains as the legal owner of the consumer financing receivables, including such loan receivables, where JD Technology performs the related credit assessment and absorbs the credit risks. The loan terms extended to the customers generally range from 1 month to 24 months. As JD Technology is obligated to purchase the receivables past due over certain agreed period of time from the Group at carrying values to absorb the credit risks, no provision for doubtful accounts was recorded for the years ended December 31, 2020, 2021 and 2022. The loan receivables were measured at amortized cost and reported in the consolidated balance sheets at outstanding principal. As of December 31, 2021 and 2022, the loan receivables with the collection period less than one year amounting to RMB1,817 million and RMB2,131 million, respectively, were classified into prepayments and other current assets in the consolidated balance sheets. As of December 31, 2021 and 2022, the loan receivables with the collection period over one year amounting to RMB733 million and RMB142 million, respectively, were classified into other

non-current

assets in the consolidated balance sheets. Cash paid for loan originations and cash received from loan repayments are classified as investing activities in the consolidated statements of cash flows. The Group, in collaboration with JD Technology, periodically securitizes loan receivables through the transfer of those assets to securitization vehicles, please refer to Note 2(

n. Property, equipment and software, net

Property, equipment and software are stated at cost less accumulated depreciation and impairment. Property, equipment and software are depreciated at rates sufficient to write off their costs less impairment and residual value, if any, over the estimated useful lives on a straight-line basis. The estimated useful lives of major property, equipment and software are as follows:


Category		Estimated useful lives
Electronic equipment		3-5 years
Office equipment		5 years
Vehicles		3-6 years
Logistics, warehouse and other heavy equipment		5-10 years
Leasehold improvement		Over the shorter of the expected life of leasehold improvements or the lease term
Software		3-5 years
Land		Indefinite
Building		40 years
Building improvement		5-10 years

Repairs and maintenance costs are charged to expenses as incurred, whereas the costs of renewals and betterment that extend the useful lives of property, equipment and software are capitalized as additions to the related assets. Retirements, sales and disposals of assets are recorded by removing the costs, accumulated depreciation and impairment with any resulting gain or loss recognized in the consolidated statements of operations and comprehensive income/(loss).

o. Construction in progress

Direct costs that are related to the construction of property, equipment and software and incurred in connection with bringing the assets to their intended use are capitalized as construction in progress. Construction in progress is transferred to specific property, equipment and software items and the depreciation of these assets commences when the assets are ready for their intended use. As of December 31, 2021 and 2022, construction in progress in the amount of RMB5,817 million and RMB11,161 million, respectively, were primarily relating to the construction of office buildings and warehouses.

p. Land use rights, net

Land use rights are recorded at cost less accumulated amortization. Amortization is provided on a straight-line basis over the estimated useful lives which are 18 to 50 years and represent the shorter of the estimated usage periods or the terms of the agreements.

q. Intangible assets, net

Intangible assets purchased from third parties are initially recorded at cost and amortized on a straight-line basis over the estimated economic useful lives. The Group performs valuation of the intangible assets arising from business combination to determine the fair value to be assigned to each asset acquired. The Group determines the fair value using the appropriate approach which requires management to make significant estimates and assumptions. The acquired intangible assets are recognized and measured at fair value and are expensed or amortized using the straight-line approach over the estimated economic useful lives of the assets.

The estimated useful lives of major intangible assets are as follows:


Category		Estimated useful lives
Non-compete		5-8 years
Domain names and trademarks		5-20 years
Customer relationship		3-10 years
Technology and others		3-10 years

r. Goodwill

Goodwill represents the excess of the purchase price over the fair value of the identifiable assets and liabilities acquired in a business combination.

Goodwill is not depreciated or amortized but is tested for impairment on an annual basis as of December 31, and in between annual tests when an event occurs or circumstances change that could indicate that the asset might be impaired. In accordance with ASU

2017-04,

Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment

(“ASU

2017-04”)

issued by the Financial Accounting Standards Board (“FASB”) guidance on testing of goodwill for impairment, the Group first assesses qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If as a result of its qualitative assessment, that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, the quantitative impairment test is mandatory. Otherwise, no further testing is required. The quantitative impairment test consists of a comparison of the fair value of each reporting unit with its carrying amount, including goodwill. If the carrying amount of each reporting unit exceeds its fair value, an impairment loss equal to the difference between the fair value of the reporting unit and its carrying amount will be recorded.

Application of a goodwill impairment test requires significant management judgment, including the identification of reporting units, assigning assets and liabilities to reporting units, assigning goodwill to reporting units, and determining the fair value of each reporting unit. The judgment in estimating the fair value of reporting units includes estimating future cash flows, determining appropriate discount rates, consideration of the impact of

COVID-19,

and making other assumptions. Changes in these estimates and assumptions could materially affect the determination of fair value for each reporting unit.

s. Investment in equity investees

Investment in equity investees represents the Group’s investments in privately held companies, publicly traded companies and private equity funds. The Group applies the equity method of accounting to account for an equity investment, in common stock or

in-substance

common stock, according to ASC Topic 323,

Investment—Equity Method and Joint Ventures

(“ASC 323”), over which it has significant influence but does not own a majority equity interest or otherwise control.

An investment in

in-substance

common stock is an investment in an entity that has risk and reward characteristics that are substantially similar to that entity’s common stock. The Group considers subordination, risks and rewards of ownership and obligation to transfer value when determining whether an investment in an entity is substantially similar to an investment in that entity’s common stock.

Under the equity method, the Group’s share of the post-acquisition profits or losses of the equity investees are recorded in share of results of equity investees in the consolidated statements of operations and comprehensive income/(loss) and its share of post-acquisition movements of accumulated other comprehensive income/(loss) are recorded in accumulated other comprehensive income/(loss) as a component of shareholders’ equity. The Group records its share of the results of equity investments in publicly listed companies and certain privately held companies on one quarter in arrears basis. The excess of the carrying amount of the investment over the underlying equity in net assets of the equity investee represents goodwill and intangible assets acquired. When the Group’s share of losses in the equity investee equals or exceeds its interest in the equity investee, the Group does not recognize further losses, unless the Group has incurred obligations or made payments or guarantees on behalf of the equity investee, or the Group holds other investments in the equity investee.

The Group continually reviews its investment in equity investees under equity method to determine whether a decline in fair value to below the carrying value is other-than-temporary. The primary factors the Group considers in its determination are the duration and severity of the decline in fair value, the financial condition, operating performance and the prospects of the equity investee, and other company specific information such as recent financing rounds. If the decline in fair value is deemed to be other-than-temporary, the carrying value of the equity investee is written down to fair value.

Private equity funds pursue various investment strategies, including event driven and multi-strategy. Investments in private equity funds generally are not redeemable due to the closed-ended nature of these funds. These private equity funds, over which the Group does not have the ability to exercise significant influence, are accounted for under the existing practical expedient in ASC Topic 820,

Fair Value Measurements and Disclosures

(“ASC 820”) to estimate fair value using the net asset value per share (or its equivalent) of the investment (“NAV practical expedient”).

The Group’s equity investments without readily determinable fair values, which do not qualify for NAV practical expedient and over which the Group does not have the ability to exercise significant influence through the investments in common stock or in substance common stock, are accounted for under the measurement alternative (the “Measurement Alternative”) in accordance with ASU

2016-01,

Financial Instruments—Overall (Subtopic

825-10)—Recognition

and Measurement of Financial Assets and Financial Liabilities

(“ASU

2016-01”).

Under the Measurement Alternative, the carrying value is measured at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same issuer. All gains and losses on these investments, realized and unrealized, are recognized in others, net in the consolidated statements of operations and comprehensive income/(loss). The Group makes assessment of whether an investment is impaired based on performance and financial position of the investee as well as other evidence of market value at each reporting date. Such assessment includes, but is not limited to, reviewing the investee’s cash position, recent financing, as well as the financial and business performance. The Group recognizes an impairment loss equal to the difference between the carrying value and fair value in others, net in the consolidated statements of operations and comprehensive income/(loss) if there is any. When the investments become qualified for use of the equity method, the Group remeasures the previously held interest in the investments at fair value, if any observable price changes in orderly transactions identified for an identical or a similar investment, immediately before it applying the equity method, in accordance with ASU

2020-01,

Investments—Equity Securities (Topic 321), Investments—Equity Method and Joint Ventures (Topic 323).

t. Investment securities

The Group invests in marketable equity securities to meet business objectives. These marketable securities are classified as investments with readily determinable fair values, which are reported at fair value in the consolidated balance sheets, the unrealized gains and losses on equity securities are recorded in others, net in the consolidated statements of operations and comprehensive income/(loss) under ASU

2016-01.

u. Impairment of long-lived assets

Long-lived assets are evaluated for impairment whenever events or changes in circumstances (such as a significant adverse change to market conditions that will impact the future use of the assets) indicate that the carrying value of an asset or an asset group may not be fully recoverable or that the useful life is shorter than the Group had originally estimated. When these events occur, the Group evaluates the impairment for the long-lived assets by comparing the carrying value of the asset or the asset group to an estimate of future undiscounted cash flows expected to be generated from the use of the asset or the asset group and its eventual disposition. If the sum of the expected future undiscounted cash flows is less than the carrying value of the asset or the asset group, the Group recognizes an impairment loss based on the excess of the carrying value of the asset or the asset group over its fair value.

v. Nonrecourse securitization debt and transfer of financial assets

The Group, in collaboration with JD Technology, periodically securitizes accounts receivable and loan receivables arising from consumer financing through the transfer of those assets to securitization vehicles. The securitization vehicles then issue (1) debt securities to third-party investors and JD Technology, or (2) trust beneficiary rights to the Group which are immediately transferred to third-party investors, collateralized by the transferred assets. The asset-backed debt securities issued by the securitization vehicles and the trust beneficiary rights transferred by the Group are nonrecourse to the Group and are payable only out of collections on their respective underlying collateralized assets.

The securitization vehicles are considered variable interest entities pursuant to ASC Topic 810,

Consolidation

. The Group will consolidate the securitization vehicles when economic interests are retained in the form of subordinated interests, and acting as the servicer of securitization vehicles. Accordingly, the Group is precluded from recording the related transfers of assets in securitization transactions as sales. Asset-backed debt securities issued by the consolidated securitization vehicles are accounted for as the financing type transactions.

The Group does not consolidate the securitization vehicles when no economic interests are retained by the Group, and the Group has no continuing involvements, including the servicer of the securitization vehicles. Transfers are accounted for as sale and corresponding transferred accounts receivable are

de-recognized

in the consolidated balance sheets pursuant to ASC Topic 860,

Transfers and Servicing

(“ASC 860”), only if they meet all of the three criteria: (i) the transferred financial assets have been isolated from the transferor and its creditor, (ii) each transferee has the rights to pledge or exchange the transferred assets, or the transferor has no continuing involvement with the transferred financial assets, and (iii) the transferor does not maintain effective control over the transferred financial assets or third-party beneficial interests related to those transferred assets. Otherwise, the transfers of the assets are accounted for as a financing type transaction if the conditions in ASC

860-10-40-5

are not met. The under common control relationship of the transferor and transferee should be ignored when applying ASC 860, as long as the transferee is not consolidated by the transferor. The gain/loss recorded upon the sale accounting was immaterial for the periods presented.

w. Unsecured senior notes and long-term borrowings

Unsecured senior notes are recognized initially at fair value, net of debt discounts or premiums and debt issuance costs. Debt discounts or premiums and debt issuance costs are recorded as a reduction of the principal amount and the related accretion is recorded as interest expense in the consolidated statements of operations and comprehensive income/(loss) over the maturities of the notes using the effective interest method.

Long-term borrowings are recognized at carrying amount. Interest expense is accrued over the estimated term of the facilities and recorded in the consolidated statements of operations and comprehensive income/(loss).

x. Fair value

Accounting guidance defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurement for assets and liabilities required or permitted to be recorded at fair value, the Group considers the principal or most advantageous market in which it would transact and it considers assumptions that market participants would use when pricing the asset or liability.

The Group measures certain financial assets, including investments under the equity method on other-than-temporary basis, investments under the Measurement Alternative, intangible assets, goodwill and fixed assets at fair value when an impairment charge is recognized.

Accounting guidance establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Accounting guidance establishes three levels of inputs that may be used to measure fair value:

Level 1—Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.

Level 2—Include other inputs that are directly or indirectly observable in the marketplace.

Level 3—Unobservable inputs which are supported by little or no market activity.

Accounting guidance also describes three main approaches to measuring the fair value of assets and liabilities: (1) market approach; (2) income approach and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset.

y. Revenues

Consistent with the criteria of ASC Topic 606,

Revenue from Contracts with Customers

(“ASC 606”), the Group recognizes revenues when the Group satisfies a performance obligation by transferring a promised good or service (that is, an asset) to a customer. An asset is transferred when the customer obtains control of that asset.

In accordance with ASC 606, the Group evaluates whether it is appropriate to record the gross amount of product sales and related costs or the net amount earned as commissions. When the Group is a principal, that the Group obtains control of the specified goods or services before they are transferred to the customers, the revenues should be recognized in the gross amount of consideration to which it expects to be entitled in exchange for the specified goods or services transferred. When the Group is an agent and its obligation is to facilitate third parties in fulfilling their performance obligation for specified goods or services, the revenues should be recognized in the net amount for the amount of commission which the Group earns in exchange for arranging for the specified goods or services to be provided by other parties. Revenues are recorded net of value added taxes.

The Group recognizes revenues net of discounts and return allowances when the products are delivered and title is passed to customers. Significant judgement is required to estimate return allowances. For online retail business with return conditions, the Group reasonably estimates the possibility of return based on the historical experience, changes in judgments on these assumptions and estimates could materially impact the amount of net revenues recognized. As of December 31, 2021 and 2022, liabilities for return allowances were

RMB618 million and RMB743 million, respectively, which were included in “Accrued expenses and other current liabilities”. The rights to recover products from customers associated with the Group’s liabilities for return allowances are the Group’s assets, which were RMB660 million and RMB785 million as of December 31, 2021 and 2022, respectively, and were included in “Prepayments and other current assets”.

The Group also sells prepaid cards which can be redeemed to purchase products sold on the JD Platform. In accordance with ASC 606, the cash collected from the sales of prepaid cards is initially recorded in advance from customers in the consolidated balance sheets and subsequently recognized as revenues upon the sales of the respective products through redemption of prepaid cards are completed. The Group recognizes revenue from estimated unredeemed prepaid cards over the expected customer redemption periods, rather than waiting until prepaid cards expire or when the likelihood of redemption becomes remote in accordance with ASC 606.

Revenue arrangements with multiple deliverables are divided into separate units of accounting based on the SSP of each separate unit. In instances where SSP is not directly observable, such as the Group does not have vendor-specific objective evidence or third-party evidence of the selling prices of the deliverables, considerations are allocated using estimated selling prices. Determining the SSP of each separate unit may require significant judgments, and significant assumptions and estimates have been made in estimating the relative selling price of each single-element.

Net Product Revenues

The Group recognizes the product revenues from the online retail business on a gross basis as the Group is acting as a principal in these transactions and is responsible for fulfilling the promise to provide the specified goods. Revenues from the sales of electronics and home appliance products were RMB400,927 million, RMB492,592 million and RMB515,945 million, and revenues from the sales of general merchandise products were RMB250,952 million, RMB323,063 million and RMB349,117 million, for the years ended December 31, 2020, 2021 and 2022, respectively. The Group’s net product revenues were mainly generated by the JD Retail segment.

Net Service Revenues

The Group charges commission fees to third-party merchants for participating in the Group’s online marketplace, where the Group generally is acting as an agent and its performance obligation is to arrange for the provision of the specified goods or services by those third-party merchants. Upon successful sales, the Group charges the third-party merchants a negotiated amount or a fixed rate commission fee based on the sales amount. Commission fee revenues are recognized on a net basis at the point of delivery of products, net of return allowances.

The Group provides marketing services to third-party merchants, suppliers and other business partners on its various website channels and third-party marketing affiliate’s websites, including but not limited to pay for performance marketing services on which the customers are charged based on effective clicks on their product information, and display advertising services that allow customers to place advertisements on various websites. The Group recognizes revenues from pay for performance marketing services based on effective clicks, and recognizes revenues from display advertising services ratably over the period during which the advertising services are provided or on the number of times that the advertisement has been displayed based on cost per thousand impressions. The Group did not enter into material

advertising-for-advertising

barter transactions for the periods presented.

The Group opens its fulfillment infrastructure by offering integrated supply chain solutions and logistics services to third parties through JD Logistics, primarily including warehousing and distribution services, express and freight delivery services and other value-added services. Revenues generated from these services are primarily recognized over time as the Group performs the services in the contracts because of the continuous transfer of control to the customers.

JD Plus memberships provide the Group’s core customers with a better shopping experience, access to an evolving suite of benefits that represent a single stand-ready obligation. Subscriptions are paid for at the time of or in advance of delivering the services. Revenues from such arrangements are recognized over the subscription period.

The Group offers comprehensive customer services, primarily include 7*24 hours customer services to respond to customers’ post-sales requests, return and exchange services to facilitate customers’ return, exchange and repair of defective goods. These services are free of charge. The Group also provides return/exchange logistics services to the customers, of which the revenues recognized were not material for the periods presented.

The Group also provides on-demand retail platform services and on-demand delivery services through Dada. For on-demand retail platform services, the Group acts as an agent and charges the retailer a fixed rate commission fee based on the sales amount and commission fee revenues on a net basis at the point of delivery of merchandise upon successful sales. For on-demand delivery services, the Group acts as an agent and recognizes revenue on a net basis at the point of delivery of merchandise. In addition, the Group fulfills the delivery needs of retailers and other business customers on Dada’s platforms, the Group has determined that it acts as the principal in these transactions and recognizes revenues on a gross basis at a fixed rate or a pre-determined amount for each completed delivery.

Revenues from online marketplace and marketing services were RMB53,473 million, RMB72,118 million and RMB81,970 million for the years ended December 31, 2020, 2021 and 2022, respectively, which were mainly generated by the JD Retail segment. Revenues from logistics and other services were RMB40,450 million, RMB63,819 million and RMB99,204 million, for the years ended December 31, 2020, 2021 and 2022, respectively, which were mainly generated by the JD Logistics segment.

z. Contract balances

Timing of revenue recognition may differ from the timing of invoicing to customers. Accounts receivable represent amounts invoiced and revenues recognized prior to invoicing when the Group has satisfied the Group’s performance obligation and has the unconditional rights to payment. The balances of accounts receivable, net of allowance for doubtful accounts were RMB11,900 million and RMB20,576 million as of December 31, 2021 and 2022, respectively.

Unearned revenues consist of payments received or awards to customers related to unsatisfied performance obligation at the end of the period, included in current and

non-current

deferred revenues and advance from customers in the Group’s consolidated balance sheets. As of December 31, 2021, the Group’s total unearned revenues were RMB29,184 million, of which RMB22,103 million was recognized as revenues for the year ended December 31, 2022. The Group’s total unearned revenues were RMB33,325 million as of December 31, 2022.

The Group applied a practical expedient to expense costs as incurred for costs to obtain a contract with a customer when the amortization period would have been one year or less. These costs include certain partner sales incentive programs. The Group has no material incremental costs of obtaining contracts with customers that the Group expects the benefit of those costs to be longer than one year which need to be recognized as assets.

aa. Customer incentives and loyalty programs

The Group provides two types of discounted coupons, referred to as D Coupons and J Coupons, for free to its customers to incentivize purchase.

•

D Coupons are given to a customer upon current purchase or can be given for free to promote future purchases. This coupon requires the customer to make future purchase of a minimum value in order to enjoy the value provided by the coupon. The rights to purchase discounted products in the future are not considered as a separate performance obligation under ASC 606, as the discount does not represent a material rights to the customer. The Group assesses the significance of the discount by considering its percentage of the total future minimum purchase value, historical usage pattern by the customers and relative outstanding volume and monetary value of D Coupons compared to the other discounts offered by the Group. D Coupons are accounted for as a reduction of revenues on the future purchase.

•

J Coupons are given to a customer upon their qualified purchase or can be given for free to promote future purchases and are to be used on a future purchase, with no limitation as to the minimum value of the future purchase. Accordingly, the Group has determined that J Coupons awarded are considered as a separate performance obligation within the scope of ASC 606, as J Coupons represent a material rights to the customer. Therefore, the delivered products and J Coupons awarded are treated as two distinct performance obligations identified in the contract. The total sales consideration is allocated based on management’s best estimate of the relative SSP of each performance obligation. The amount allocated to J Coupons is deferred and recognized when J Coupons are redeemed or at the coupon’s expiration, whichever occurs first. J Coupons have an expiration of one year after issuance. For the years ended December 31, 2020, 2021 and 2022, the amounts of expired J Coupons were not material.

Registered customers may also earn J Beans, which were launched based on certain activities performed on the Group’s website by the customers such as purchasing merchandise or reviewing their buying experiences. J Beans can be used as cash to buy any products sold by the Group, which will directly reduce the amount paid by the customer, or redeemed for D Coupons that can be used in certain shops on JD Platform. The Group considers J Beans awarded from sales of products and reviewing buying experiences to be part of its revenue generating activities. Thus J Beans are considered to be a separate performance obligation identified in the contract. Therefore, the sales consideration is allocated to the products and J Beans based on the relative SSP of the products and J Beans awarded. Consideration allocated to J Beans is initially recorded as deferred revenues, and recognized as revenues when J Beans are used or expired. J Beans will expire at the subsequent year end after issuance. For the years ended December 31, 2020, 2021 and 2022, the amounts of expired J Beans were not material.

bb. Cost of revenues

Cost of revenues consists primarily of purchase price of products, inbound shipping charges, write-downs of inventories, traffic acquisition costs related to online marketing services, and cost related to logistics services provided to third parties.

cc. Rebates and subsidies

The Group periodically receives considerations from certain vendors, representing rebates for products sold and subsidies for the sales of the vendors’ products over a period of time. The rebates are not sufficiently separable from the Group’s purchase of the vendors’ products and they do not represent a reimbursement of costs incurred by the Group to sell vendors’ products. The Group accounts for the rebates received from its vendors as a reduction to the prices it pays for the products purchased and therefore the Group records such amounts as a reduction of cost of revenues when recognized in the consolidated statements of operations and comprehensive income/(loss). Rebates are earned upon reaching minimum purchase thresholds for a specified period. When volume rebates can be reasonably estimated based on the Group’s past experiences and current forecasts, a portion of the rebates is recognized as the Group makes progress towards the purchase threshold. Subsidies are calculated based on the volume of products sold through the Group and are recorded as a reduction of cost of revenues when the sales have been completed and the amount is determinable.

dd. Fulfillment

Fulfillment expenses consist primarily of (i) expenses incurred in operating the Group’s fulfillment centers, customer service centers and physical stores, including personnel cost and expenses attributable to buying, receiving, inspecting and warehousing inventories, picking, packaging, and preparing customer orders for shipment, processing payment and related transaction costs, (ii) expenses charged by third-party couriers for dispatching and delivering the Group’s products, (iii) lease expenses of warehouses, delivery and pickup stations, and physical stores, and (iv) depreciation and amortization of logistics and electronic equipment. The cost related to logistics services provided to third parties is classified in cost of revenues in the consolidated statements of operations and comprehensive income/(loss). Shipping cost included in fulfillment expenses amounted to RMB23,088 million, RMB27,786 million and RMB28,958 million for the years ended December 31, 2020, 2021 and 2022, respectively.

ee. Marketing

Marketing expenses consist primarily of advertising costs, public relations expenditures, and payroll and related expenses for employees involved in marketing and business development activities. The Group pays commissions to participants in the associates program when their customer referrals result in successful product sales and records such costs in marketing in the consolidated statements of operations and comprehensive income/(loss).

Advertising costs, which consist primarily of online advertising, offline television, movie and outdoor advertising, and incentive programs to attract or retain consumers for the Group’s online marketplace, are expensed as incurred, and totaled RMB23,088 million, RMB32,704 million and RMB29,898 million for the years ended December 31, 2020, 2021 and 2022, respectively.

ff. Research and development

Research and development expenses consist primarily of payroll and related expenses for research and development employees involved in designing, developing and maintaining technology platform, and application of artificial intelligence, big data and cloud technologies and services, and technology infrastructure costs. Technology infrastructure costs include servers and other equipment depreciation, bandwidth and data center costs, rent, utilities and other expenses necessary to support the Group’s internal and external business. Research and development expenses are expensed as incurred. Software development costs are recorded in “Research and development” as incurred as the costs qualifying for capitalization have been insignificant.

gg. General and administrative

General and administrative expenses consist primarily of employee related expenses for general corporate functions, including accounting, finance, tax, legal and human relations; costs associated with these functions including facilities and equipment depreciation expenses, rental and other general corporate related expenses.

hh. Share-based compensation

The Group grants restricted share units (“RSUs”) and share options of the Company and its subsidiaries to eligible employees and

non-employees.

The Group accounts for share-based awards issued to employees and

non-employees

in accordance with ASC Topic 718

Compensation—Stock Compensation

Employees’ share-based awards,

non-employees’

share-based awards and the founder’s share-based awards are measured at the grant date fair value of the awards and recognized as expenses a) immediately at grant date if no vesting conditions are required; or b) using graded vesting method, net of estimated forfeitures, over the requisite service period, which is the vesting period.

All transactions in which goods or services are received in exchange for equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instrument issued, whichever is more reliably measurable.

The Group uses binomial option-pricing model or other appropriate methods to estimate the fair value of share options. The determination of estimated fair value of share-based payment awards on the grant date is affected by the fair value of the Company’s ordinary shares as well as assumptions regarding a number of complex and subjective variables. These variables include the expected value volatility of the Company over the expected term of the awards, actual and projected employee share option exercise behaviors, a risk-free interest rate, exercise multiple and expected dividend yield, if any.

Determination of estimated fair value of the Company’s subsidiaries before they were publicly listed requires complex and subjective judgments due to their limited financial and operating history, unique business risks and limited public information on companies in China similar to the Company’s subsidiaries. The Company estimates the Company’s subsidiaries’ enterprise value for purposes of recording share-based compensation, and the information considered by the Company mainly include but are not limited to the pricing of recent rounds of financing, future cash flow forecasts, discount rates, and liquidity factors.

The Group recognizes the estimated compensation cost of RSUs based on the fair value of its ordinary shares on the date of the grant. The Group recognizes the compensation cost, net of estimated forfeitures, over a vesting term for service-based RSUs.

The Group also recognizes the compensation cost of performance-based share awards, net of estimated forfeitures, if it is probable that the performance condition will be achieved at the end of each reporting period.

Forfeitures are estimated at the time of grant and revised in the subsequent periods if actual forfeitures differ from those estimates.

A change in the terms or conditions of a share-based award, or cancellation of a share-based award accompanied by the concurrent grant of a replacement award is accounted for as a modification (that is, an exchange of the original award for a new award), unless the award’s fair value, vesting conditions, and classification as an equity instrument are the same as immediately before and after the change. The Group recognized incremental compensation cost for an amount equal to the excess of the fair value of the modified award over the fair value of the original award immediately before the modification. Therefore, in relation to the modified award, the Group recognized share-based compensation over the vesting periods of the modified award.

ii. Income tax

Current income taxes are provided on the basis of net income for financial reporting purposes, adjusted for income and expense items which are not assessable or deductible for income tax purposes, in accordance with the regulations of the relevant tax jurisdictions. The Group follows the liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are determined based on the temporary differences between the financial statements carrying amounts and tax bases of existing assets and liabilities by applying enacted statutory tax rates that will be in effect in the period in which the temporary differences are expected to reverse. The Group records a valuation allowance to reduce the amount of deferred tax assets if based on the weight of available evidence, it is

more-likely-than-not

that some portion, or all, of the deferred tax assets will not be realized. The effect on deferred taxes of a change in tax rates is recognized in the consolidated statements of operations and comprehensive income/(loss) in the period of change. Deferred tax assets and liabilities are classified as

non-current

in the consolidated balance sheets.

The Group recognizes in its consolidated financial statements the benefit of a tax position if the tax position is “more likely than not” to prevail based on the facts and technical merits of the position. Tax positions that meet the “more likely than not” recognition threshold are measured at the largest amount of tax benefit that has a greater than fifty percent likelihood of being realized upon settlement. The Group estimates its liability for unrecognized tax benefits which are periodically assessed and may be affected by changing interpretations of laws, rulings by tax authorities, changes and/or developments with respect to tax audits, and expiration of the statute of limitations. The ultimate outcome for a particular tax position may not be determined with certainty prior to the conclusion of a tax audit and, in some cases, appeal or litigation process. The actual benefits ultimately realized may differ from the Group’s estimates. As each audit is concluded, adjustments, if any, are recorded in the Group’s consolidated financial statements in the period in which the audit is concluded. Additionally, in future periods, changes in facts, circumstances and new information may require the Group to adjust the recognition and measurement estimates with regard to individual tax positions. Changes in recognition and measurement estimates are recognized in the period in which the changes occur. As of December 31, 2021 and 2022, the Group did not have any significant unrecognized uncertain tax positions.

jj. Leases

In accordance with ASC Topic 842,

Leases

(“ASC 842”), The Group, using the modified retrospective transition approach through a cumulative-effect adjustment in the period of adoption rather than retrospectively adjusting prior periods and the package of practical expedients, categorizes leases with contractual terms longer than twelve months as either operating or finance lease. However, the Group has no finance leases for any of the periods presented.

Right-of-use

(“ROU”) assets represent the Group’s rights to use underlying assets for the lease term and lease liabilities represent the Group’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term, reduced by lease incentives received, plus any initial direct costs, using the discount rate for the lease at the commencement date. As the implicit rate in lease is not readily determinable for the Group’s operating leases, the Group generally use the incremental borrowing rate based on the estimated rate of interest for collateralized borrowing over a similar term of the lease payments at commencement date. The Group’s lease terms may include options to extend or terminate the lease when it is reasonably certain that the Group will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. The Group accounts for lease and

non-lease

components separately.

The Group also enters into sale and leaseback transactions. The Group acts as the seller-lessee, transfers its assets to a third-party entity (the buyer-lessor) and then leases the transferred assets back from the buyer-lessor at an

arm-length

rental price. Upon consideration of ASC Topic

842-40-25-1

and ASC 606, the transfer of the underlying assets is considered as sales, and according to ASC 842, the leaseback transaction is classified as an operating lease. Therefore, the sale and the leaseback of the underlying assets are separately accounted for by the Group. Upon completion of the transaction, the legal titles of these assets are transferred to the third-party entity (the buyer-lessor), and the Group derecognizes these transferred assets and recognizes gains or losses from disposal of these assets in accordance with ASC Topic 360,

Property, Plant and Equipment

. The leaseback transactions are accounted for under ASC 842, and the ROU assets and lease liabilities are recognized at commencement date accordingly.

The Group leases warehouses, offices, and store space to third-parties. The arrangements are in the nature of operating lease which is neither a sales-type nor direct-financing lease. As such, the underlying assets remain on the Group’s balance sheet at their carrying value and continue to depreciate the assets based on the estimated useful life. Rental revenue should be recognized on a straight-line basis (or another systematic basis if that basis is more representative of the pattern in which income is earned from the underlying assets over the term of the respective lease). The Group records an unbilled rent receivable, which is the amount by which straight-line rental revenue exceeds rents currently billed in accordance with the lease.

kk. Comprehensive income/(loss)

Comprehensive income/(loss) is defined as the changes in equity of the Group during a period from transactions and other events and circumstances excluding transactions resulting from investments from shareholders and distributions to shareholders. Comprehensive income/(loss) for the periods presented primarily includes net income/(loss), change in unrealized gains/(losses) on

available-for-sale

debt securities and foreign currency translation adjustments.

ll. Net income/(loss) per share

Basic net income/(loss) per share is computed by dividing net income/(loss) attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding during the period. For the calculation of diluted net income/(loss) per share, the weighted average number of ordinary shares is adjusted by the effect of dilutive potential ordinary shares, including unvested RSUs and ordinary shares issuable upon the exercise of outstanding share options using the treasury stock method. Additionally, the Company takes into account the effect of dilutive shares of entities in which the Company holds equity interests. The dilutive impacts from equity interests mainly include equity investments accounted for using the equity method and the consolidated subsidiaries. The effect mentioned above is not included in the calculation of the diluted income/(loss) per share when inclusion of such effect would be anti-dilutive.

mm. Segment reporting

Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker (“CODM”), or decision making group, in deciding how to allocate resources and in assessing performance. The Group’s CODM is the Chief Executive Officer.

Before 2021, the Group’s principal operations were organized into two major business segments, JD Retail and New Businesses, which were defined based on the products and services provided. JD Retail mainly consisted of online retail, online marketplace and marketing services in China. New Businesses included logistics services provided to third parties, overseas business, technology initiatives, as well as asset management services to logistics property investors and sale of development properties by JD Property.

Beginning with the first quarter of 2021, the Group implemented certain segment reporting changes to better reflect its recently optimized organizational structure and business developments. The major changes in segment information mainly include: (1) Reported the results of JD Logistics as a new standalone segment. JD Logistics listed on the Main Board of HKEX on May 28, 2021. (2) Moved the results of Jingxi and the internal business of JD Property from JD Retail to New Businesses. The changes relate to the realignment of JD Retail in connection with the establishment of the new Jingxi business group and the closing of JD Property Series A Preference Shares financing. As a result, the Group reported

three

segments, JD Retail, JD Logistics and New Businesses in 2021. JD Retail mainly consisted of online retail, online marketplace and marketing services in China. JD Logistics included both internal and external logistics businesses. New Businesses mainly included JD Property, Jingxi, overseas businesses and technology initiatives.

The Group consolidated Dada since February 28, 2022 and reported the results of Dada as a new standalone segment. The Group also consolidated China Logistics Property Holdings Co., Ltd. (“CNLP”) through JD Property since March 1, 2022 and reported the results of CNLP in the New Businesses segment. In addition, the Group has consolidated Ningbo Meishan Baoshui Area Deppon Investment Holding Company Limited (“Deppon Holdco”) except the Excluded Business as defined in Note 7 since July 26, 2022 and reported the results of Deppon Holdco except the Excluded Business as defined in Note 7 in the JD Logistics segment. As a result, the Group now reports

four

segments, JD Retail, JD Logistics, Dada and New Businesses. JD Retail mainly consists of online retail, online marketplace and marketing services in China. JD Logistics includes both internal and external logistics businesses. Dada is a local

on-demand

delivery and retail platform in China. New Businesses mainly include JD Property, Jingxi, overseas businesses and technology initiatives.

These changes align with the manner in which the Group’s CODM uses financial information to evaluate the performance of, and to allocate resources to, each of the segments. The prior periods’ segment operating results have been retrospectively recast to conform to current period presentation.

nn. Statutory reserves

The Company’s subsidiaries and consolidated VIEs established in the Chinese mainland are required to make appropriations to certain

non-distributable

reserve funds.

In accordance with the laws applicable to the Foreign Investment Enterprises established in the PRC, the Group’s subsidiaries registered as wholly-owned foreign enterprise have to make appropriations from their

after-tax

profits (as determined under generally accepted accounting principles in the PRC (“PRC GAAP”)) to reserve funds including general reserve fund, enterprise expansion fund and staff bonus and welfare fund. The appropriation to the general reserve fund must be at least 10% of the

after-tax

profits calculated in accordance with the PRC GAAP. Appropriation is not required if the general reserve fund has reached 50% of the registered capital of the company. Appropriations to the enterprise expansion fund and staff bonus and welfare fund are made at the respective company’s discretion.

In addition, in accordance with the PRC Company Laws, the Group’s consolidated VIEs, registered as Chinese domestic companies, must make appropriations from their

after-tax

profits as determined under the PRC GAAP to

non-distributable

reserve funds including statutory surplus fund and discretionary surplus fund. The appropriation to the statutory surplus fund must be 10% of the

after-tax

profits as determined under the PRC GAAP. Appropriation is not required if the statutory surplus fund has reached 50% of the registered capital of the company. Appropriation to the discretionary surplus fund is made at the discretion of the respective company.

The use of the general reserve fund, enterprise expansion fund, statutory surplus fund and discretionary surplus fund are restricted to the offsetting of losses or increasing of the registered capital of the respective company. The staff bonus and welfare fund is a liability in nature and is restricted to fund payments of special bonus to employees and for the collective welfare of employees. None of these reserves are allowed to be transferred to the company in terms of cash dividends, loans or advances, nor can they be distributed except under liquidation.

For the years ended December 31, 2020, 2021 and 2022, profit appropriation to statutory surplus fund for the Group’s entities incorporated in the Chinese mainland was approximately

RMB74 million, RMB53 million and RMB1,887 million, respectively. No appropriation to other reserve funds was made for any of the periods presented.

oo. Recent accounting pronouncements

Recently adopted accounting pronouncements

In August 2020, the FASB issued ASU

2020-06,

Debt—Debt with Conversion and Other Options (Subtopic

470-20)

and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic

815-40):

Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity, which simplifies the accounting for convertible instruments by reducing the number of accounting models available for convertible debt instruments. This guidance also eliminates the treasury stock method to calculate diluted earnings per share for convertible instruments and requires the use of the

if-converted

method. For public companies, the guidance is effective for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years. Early adoption is permitted. The Group adopted this standard beginning January 1, 2022 and the impact was not material to the consolidated financial statements.

In November 2021, the FASB issued ASU

2021-10,

Government Assistance (Topic 832): Disclosure by Business Entities about Government Assistance (ASU

2021-10),

which improves the transparency of government assistance received by most business entities by requiring the disclosure of: (1) the types of government assistance received; (2) the accounting for such assistance; and (3) the effect of the assistance on a business entity’s financial statements. This guidance is effective in the year ended December 31, 2022, with early adoption permitted. The Group adopted this standard in the year ended December 31, 2022 and the impact was not material to the consolidated financial statements.

Recently issued accounting pronouncements not yet adopted

In October 2021, the FASB issued ASU

2021-08,

which amends ASC 805 to “require acquiring entities to apply Topic 606 to recognize and measure contract assets and contract liabilities in a business combination.” Under current GAAP, an acquirer generally recognizes such items at fair value on the acquisition date. According to the FASB, this update is intended “to improve the accounting for acquired revenue contracts with customers in a business combination by addressing diversity in practice and inconsistency related to the following: a. Recognition of an acquired contract liability; b. Payment terms and their effect on subsequent revenue recognized by the acquirer.” For public business entities, the amendments in this update are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The amendments in this update should be applied prospectively to business combinations occurring on or after the effective date of the amendments. The adoption of this standard is not expected to have a material impact on the Group’s consolidated financial statements.

In June 2022, the FASB issued ASU

2022-03,

which (1) clarifies the guidance in ASC 820 on the fair value measurement of an equity security that is subject to a contractual sale restriction and (2) requires specific disclosures related to such an equity security. ASU

2022-03

clarifies that a “contractual sale restriction prohibiting the sale of an equity security is a characteristic of the reporting entity holding the equity security” and is not included in the equity security’s unit of account. Accordingly, an entity should not consider the contractual sale restriction when measuring the equity security’s fair value (i.e., the entity should not apply a discount related to the contractual sale restriction, as stated in ASC

820-10-35-36B

as amended by the ASU). In addition, the ASU prohibits an entity from recognizing a contractual sale restriction as a separate unit of account. For public business entities, the guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years, with early adoption permitted. The adoption of this standard is not expected to have a material impact on the Group’s consolidated financial statements.

In September 2022, the FASB issued ASU 2022-04 to enhance transparency about an entity’s use of supplier finance programs. ASU 2022-04 requires the buyer in a supplier finance program to disclose qualitative and quantitative information about the program, and at a minimum, the following at least annually: (1) the key terms of the program; including payment terms and assets pledged as security or other forms of guarantees; (2) the amount of obligations outstanding at the end of the reporting period that the buyer has confirmed as valid; a description of where those obligations are presented in the balance sheet; rollforward information for the annual period showing the amount at the beginning of the period , the amount added during the period, the amount settled during the period , and the amount outstanding at the end of the period. The amendments in are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, except for the amendment on rollforward information, which is effective for fiscal years beginning after December 15, 2023. Early adoption is permitted. The Group is currently evaluating the impact of the amendments on its consolidated financial statements.

Concentration and risks

12 Months Ended

Dec. 31, 2022

Concentration and risks

Concentration and risks

3.	Concentration and risks

Concentration of customers and suppliers

There are no customers or suppliers from whom revenues or purchases individually represent greater than 10% of the total revenues or the total purchases of the Group for the years ended December 31, 2020, 2021 and 2022.

Concentration of credit risk

Assets that potentially subject the Group to significant concentrations of credit risk primarily consist of cash and cash equivalents, restricted cash, accounts receivable, short-term investments and certain wealth management products in other non-current assets. The maximum exposure of such assets to credit risk is their carrying amounts as of the balance sheet dates. As of December 31, 2021 and 2022, majority of the Group’s cash and cash equivalents, restricted cash and short-term investments were held at major financial institutions located in the Chinese mainland and Hong Kong which the management believes are of high credit quality. Bank failure is uncommon in China and the Group believes that those Chinese banks that hold the Group’s cash and cash equivalents, restricted cash, short-term investments and certain wealth management products in other non-current assets are financially sound based on publicly available information. Accounts receivable are typically unsecured and are mainly derived from revenues earned from customers in the PRC. The risk with respect to accounts receivable is mitigated by credit evaluations the Group performs on its customers and its ongoing monitoring processes of outstanding balances. Besides, JD Technology performs the related credit assessment of the consumer financing receivables recorded in the Group’s consolidated balance sheets. JD Technology purchases the consumer financing receivables past due over certain agreed period of time from the Group at carrying values without recourse and also agrees to bear other cost directly related to the consumer financing business to absorb the risks.

Currency convertibility risk

The PRC government imposes controls on the convertibility of RMB into foreign currencies. The Group’s cash and cash equivalents, restricted cash, short-term investments and time deposits with maturities more than one year in other non-current assets denominated in RMB that are subject to such government controls amounted to

RMB99,174 million and RMB146,152

million as of December 31, 2021 and 2022, respectively. The value of RMB is subject to changes in the central government policies and to international economic and political developments affecting supply and demand in the PRC foreign exchange trading system market. In the PRC, certain foreign exchange transactions are required by law to be transacted only by authorized financial institutions at exchange rates set by the People’s Bank of China (the “PBOC”). Remittances in currencies other than RMB by the Group in the Chinese mainland must be processed through the PBOC or other Chinese foreign exchange regulatory bodies which require certain supporting documentation in order to process the remittance.

Foreign currency exchange rate risk

The RMB has fluctuated against the US$, at times significantly and unpredictably

during the reporting periods

. The appreciation and depreciation of the RMB against the US$ was approximately 2% and 8% for the years ended December 31, 2021 and 2022, respectively. It is difficult to predict how market forces or the PRC or U.S. government policy may impact the exchange rate between the RMB and the US$ in the future.

Restricted cash

12 Months Ended

Dec. 31, 2022

Restricted cash

Restricted cash

4.	Restricted cash

To meet the requirements of specific business operations, primarily including secured deposits held in designated bank accounts for issuance of bank acceptance and letter of guarantee, the Group held restricted cash of RMB5,926 million and RMB6,254 million as of December 31, 2021 and 2022, respectively.

Fair value measurement

12 Months Ended

Dec. 31, 2022

Fair value measurement

Fair value measurement

5.	Fair value measurement

As of December 31, 2021 and 2022, information about inputs into the fair value measurement of the Group’s assets and liabilities that are measured at fair value on a recurring basis in periods subsequent to their initial recognition is as follows:


			Fair value measurement at reporting date using
Description	Fair Value as of December 31, 2021		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)

	(RMB in millions)
Assets:
Restricted cash		5,926		—		5,926		—
Short-term investments
Wealth management products		77,010		—		77,010		—
Investment securities
Listed equity securities		19,088		19,088		—		—

Total assets		102,024		19,088		82,936		—


			Fair value measurement at reporting date using
Description	Fair Value as of December 31, 2022		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)

	(RMB in millions)
Assets:
Restricted cash		6,254		—		6,254		—
Short-term investments
Wealth management products		71,496		—		71,496		—
Investment securities
Listed equity securities		11,611		11,611		—		—
Other non-current assets
Wealth management products		2,649		—		2,649		—

Total assets		92,010		11,611		80,399		—

When available, the Group uses quoted market prices to determine the fair value of an asset or liability. If quoted market prices are

t available, the Group will measure fair value using valuation techniques that use, when possible, current market-based or independently sourced market parameters, such as interest rates and currency rates. Following is a description of the valuation techniques that the Group uses to measure the fair value of assets that the Group reports in its consolidated balance sheets at fair value on a recurring basis.

Short-term investments

Wealth management products with maturities of within one year. The Group elected the fair value option to record wealth management products with variable interest rates and deposits indexed to foreign exchange with maturities less than one year and accounted them at fair value since 2021. The Group values its wealth management products using alternative pricing sources and models utilizing market observable inputs, and accordingly the Group classifies the valuation techniques that use these inputs as Level 2. For the years ended December 31, 2021 and 2022, gain of RMB1,514 million and

RMB1,921

million resulting from changes in fair value of the products under fair value option was recorded in others, net, respectively.

Investment securities

Listed

equity securities. The Group values its listed equity securities using quoted prices for the underlying securities in active markets, and accordingly, the Group classifies the valuation techniques that use these inputs as Level 1.

For the years ended December 31, 2020, 2021 and 2022, the unrealized gains/(losses) of the investment securities were a gain of RMB18,722 million, a loss of RMB9,344 million and a loss of RMB4,304 million, respectively, which are recognized in others, net in the consolidated statements of operations and comprehensive income/(loss).

The material investment securities are set out as below:

In 2017, the Group invested in China United Network Communications Limited (“China Unicom”) with a total consideration of RMB5,000 million. In 2022, the Group sold approximately 15.2% of its investments in China Unicom. For the years ended December 31, 2020, 2021 and 2022, the unrealized gain/(loss) related to the investment in China Unicom was a loss of RMB1,047 million, a loss of RMB388 million and a gain of RMB341 million, respectively.

In 2017, 2018 and 2019, the Group invested in Vipshop Holdings Ltd. (“Vipshop”) with a total consideration of RMB3,917 million. For the years ended December 31, 2020 and 2021, the unrealized gain/(loss) related to the investment in Vipshop was a gain of RMB4,272 million and a loss of RMB6,560 million, respectively. In 2022, the Group sold its investment in Vipshop. The realized loss over the entire period of holding this investment is RMB839 million.

In 2018, the Group invested in ESR Cayman Limited (“ESR”) with a total consideration of RMB1,952 million. The Group accounted for the investment in ESR at fair value upon its completion of IPO on the HKEX in 2019. In 2020 and 2022, the Group sold approximately 8.0% and 6.3% of its remaining investment in ESR, respectively. For the years ended December 31, 2020, 2021 and 2022, the unrealized gain/(loss) related to the investment in ESR was a gain of RMB1,632 million, a loss of RMB396 million and a loss of RMB1,722 million, respectively.

Other

non-current

assets

Wealth management products with maturities of more than one year. The Group elected the fair value option to record wealth management products with variable interest rates with maturities more than one year and accounted them at fair value. The Group values its wealth management products using alternative pricing sources and models utilizing market observable inputs, and accordingly the Group classifies the valuation techniques that use these inputs as Level 2. For the year ended December 31, 2022, a loss of

RMB137 million resulting from changes in fair value of the products under fair value option was recorded in others, net.

Other financial instruments

The followings are other material financial instruments not measured at fair value in the consolidated balance sheets, but for which the fair value is estimated for disclosure purposes.

Time deposits. Time deposits with original maturities of three months or less have been classified as cash equivalents in the consolidated balance sheets. Time deposits with original maturities of longer than three months and maturities of less than one year have been classified as short-term investments in the consolidated balance sheets. The fair value of the Group’s time deposits is determined based on the prevailing interest rates in the market, which have been categorized as Level 2 in the fair value hierarchy. As of December 31, 2021 and 2022, the fair value of time deposits classified as cash equivalents and short-term investments amounted t

RMB39,282 million and RMB86,780 million, respectively. As of December 31, 2021 and 2022, time deposits with maturities of more than one year with the fair value of RMB5,427 million and RMB100 million, respectively, have been classified as other

non-current

assets in the consolidated balance sheets. The carrying value of time deposits approximates to fair value.

Held-to-maturity

debt securities. Wealth management products that the Group has positive intent and ability to hold to maturity are accounted for as

held-to-maturity

debt securities, classified as short-term investments in the consolidated balance sheets. The fair value of the Group’s

held-to-maturity

debt securities is determined based on the prevailing interest rates in the market, which have been categorized as Level 2 in the fair value hierarchy. As of December 31, 2021 and 2022, the fair value of

held-to-maturity

debt securities amounted to RMB3,008 million and RMB4,725 million, respectively. The carrying value of

held-to-maturity

debt securities approximates to fair value.

Unsecured senior notes. The Group determines the fair value of its unsecured senior notes using quoted prices in less active markets, and accordingly the Group categorizes the unsecured senior notes as Level 2 in the fair value hierarchy. As of December 31, 2021 and 2022, the fair value of unsecured senior notes amounted to RMB10,020 million and RMB9,045 million, respectively.

Short-term receivables and payables. Accounts receivable and prepayments and other current assets are financial assets with carrying values that approximate to fair value due to their short-term nature. Accounts payable, advance from customers (exclude contract liabilities) and accrued expenses and other current liabilities, are financial liabilities with carrying values that approximate to fair value due to their short-term nature. The Group classifies the valuation techniques that use these inputs as Level 2 in the fair value hierarchy.

Short-term debts and long-term borrowings. Interest rates under the borrowing agreements with the lending parties were determined based on the prevailing interest rates in the market. The carrying value of short-term debts and long-term borrowings approximates to fair value. The Group classifies the valuation techniques that use these inputs as Level 2 in the fair value hierarchy.

Assets and liabilities measured at fair value on a nonrecurring basis

Investment in equity investees. Investments in privately held companies and publicly traded companies included in investment in equity investees in the consolidated balance sheets are reviewed periodically for impairment using fair value measurement. The primary factors that the Group considers include the duration and severity that the fair value of the investment is below its carrying value; post-balance sheet date fair value of the investment; the financial condition, operating performance, strategic collaboration with and the prospects of the investee; the economic or technological environment in which the investee operates; and other entity specific information such as recent financing rounds completed by the investee companies. When the qualitative assessment indicates impairment, the investments in privately held companies without readily determinable fair value were measured using significant unobservable inputs (Level 3) as of December 31, 2021 and 2022, and the impairment charges of

RMB202 million, RMB119 million and RMB504 million were recorded in others, net in the consolidated statements of operations and comprehensive income/(loss) for the years ended December 31, 2020, 2021 and 2022, respectively. As of December 31, 2021 and 2022, the accumulated impairment of the Group’s investments in privately held companies under the Measurement Alternative was RMB2,779 million and RMB2,610 million, respectively. The valuation methodology used to estimate the fair value of investments in publicly traded companies (Level 1) and privately held companies accounted for under the equity method (Level 3) and associated impairment charges are discussed in Note 8

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

JD Technology reorganization

JD Technology reorganization

12 Months Ended

Dec. 31, 2022

JD Technology reorganization

6.	JD Technology reorganization

In the first half of 2017, the Group entered into a series of definitive agreements relating to the reorganization of JD Technology. Pursuant to the definitive agreements, the Group disposed all its equity stake of 68.6% in JD Technology so that it held neither legal ownership nor effective control of JD Technology, received RMB14.3 billion in cash and is entitled to a royalty and software technical services fee of 40% of the future

pre-tax

profit of JD Technology when JD Technology has a positive

pre-tax

income on a cumulative basis. In addition, the Group would be able to convert its profit sharing right with respect to JD Technology into 40% of JD Technology’s equity interest, subject to applicable regulatory approvals. Upon the completion of the reorganization on June 30, 2017, JD Technology was deconsolidated from the Group. After JD Technology’s additional round of financing in 2018, the Group’s percentage of JD Technology’s

pre-tax

profit sharing has been diluted to approximately 36%, and if permitted by the regulation, the Group is entitled to convert its profit-sharing right into approximately 36% of JD Technology’s equity interest.

In June 2020, the Group entered into agreements with JD Technology, pursuant to which the Group has, through a consolidated PRC domestic company, acquired an aggregate of 36.8% equity interest in JD Technology by converting the profit sharing right and investing additional RMB1.78 billion in cash in JD Technology. In addition, in June 2020, the shareholders of JD Technology passed a unanimous resolution to restructure JD Technology as a company limited by shares and adopt the dual class voting structure. As a result of this dual class voting shareholding structure, the Group held approximately 18.7% voting power of JD Technology. The transaction has been completed in June 2020. Accordingly, subsequent to the completion of the transaction, investment in JD Technology has been accounted for using equity method, as the Group has significant influence but does not own a majority equity interest or otherwise control. The Group and JD Technology are both controlled by Mr. Richard Qiangdong Liu before and after the transaction, so the acquisition of JD Technology’s equity interest was achieved through an under the common control transaction.

Pursuant to the supplemental agreement entered between JD Technology and its shareholders in June 2020, upon certain redemption events of JD Technology, the Group and Suqian Dongtai Jinrong Investment Management Center, Suqian Mingjin Chuangyuan Enterprise Management Consulting Partnership, Mr. Richard Qiangdong Liu have the obligation to make up the shortfall (if any) of the redemption price to the other shareholders of JD Technology when all other means are exhausted, and the shortfall is capped by the proceeds from the sales of the guarantor’s shares of JD Technology. As the Group and JD Technology both are entities under common control of Mr. Richard Qiangdong Liu, the Group is therefore exempted from recording a guarantee liability in its consolidated financial statements. Based on the Group’s assessment, the chance to settle the guarantee obligation by the Group is not probable as of December 31, 2022.

On March 31, 2021, the Group entered into definitive agreements with JD Technology relating to the reorganization of the Group’s cloud computing and artificial intelligence business (“JD Cloud & AI”). Pursuant to the definitive agreements, the Group transferred JD Cloud & AI and additional RMB4 billion in cash, as consideration in exchange for newly issued ordinary shares of JD Technology. To support the smooth business transition of JD Cloud & AI, the Group also transferred some equipment and reserved some restricted share units of the Group for the employees of JD Cloud & AI, for which JD Technology paid cash consideration. Upon completion of the transactions on March 31, 2021, JD Cloud & AI was deconsolidated from the Group’s consolidated financial statements, and the Group’s equity interest in JD Technology increased from 36.8% to 41.7%. The Group and JD Technology are both controlled by Mr. Richard Qiangdong Liu before and after the transaction, so the acquisition of JD Technology’s equity interest was achieved through an under the common control transaction.

Business Acquisition

12 Months Ended

Dec. 31, 2022

Business Combination

Business Acquisition

7.	Business acquisition

Acquisition of Dada

In February 2022, the Group acquired additional number of ordinary shares of Dada, China’s leading local on-demand delivery and retail platform, for a total consideration of

US$800 million with a combination of cash and certain strategic resources to Dada. The Group held, taking into account its existing shareholding, approximately 52% of Dada’s issued and outstanding shares and consolidated the financial results of Dada into the Group’s consolidated financial statements since February 28, 2022.

The Group recognized a remeasurement gain of RMB72 million associated with the previously held equity interests of Dada in “Share of results of equity investees”. The fair value of the previously held equity interests was determined by the market price of shares of Dada at the acquisition date. Details of the equity interests of Dada accounted for equity method prior to the acquisition is disclosed in Note 8.

The purchase price as of the date of acquisition is comprised of:


	Amounts
	(RMB in millions)

Cash		3,452
Business cooperation agreement as consideration of the acquisition		1,606
Fair value of previously held equity interests		5,702

Total		10,760

The transaction was considered a business acquisition and therefore was recorded using the acquisition method of accounting. The allocation of the purchase price based on the fair values of the acquired assets and liabilities assumed as of the date of acquisition is summarized as follows:


	Amounts
	(RMB in millions)

Net assets acquired		7,549
Newly identified and appreciation of intangible assets
- Trademarks and domain names		805
- Technology		525
- Relationship with riders		640
- Consumer base		120
Premium not reflected in goodwill		3,623
Goodwill		4,542
Deferred tax liabilities		(522	)
Non-controlling interests		(6,522	)

Total		10,760

The premium not reflected in goodwill was recognized as a loss of

RMB3,623

million in “others, net” resulting from the change of Dada’s share price prior to the closing of the acquisition.

Net assets acquired primarily consisted of cash and cash equivalents and restricted cash of RMB4,623 million as of the date of acquisition. Acquired amortizable intangible assets had a weighted-average amortization period of 7.0

years. Fair value of the

non-controlling

interests was determined by the market price of shares of Dada at the acquisition date.

Goodwill arising from the acquisition of Dada was attributable to the benefit of expected synergies, the assembled workforce, revenue growth and future market development as of the date of acquisition and assigned to Dada reporting unit of RMB3,144 million and JD Retail reporting unit of RMB1,398

million on the basis of the expected synergies from the acquisition of Dada. Goodwill arising from the acquisition is not expected to be deductible for tax purposes.

Had the acquisition date of Dada been January 1, 2021, the revenue and net loss of the Group would have been RMB

956.8

billion and

RMB

6.3

billion in 2021, respectively, and

the

revenue

and net income

of the Group

would have been RMB

1,047.2

billion and

RMB

9.5

billion in 2022, respectively. The pro-forma information is for illustrative purposes only and is not necessarily an indication of revenue and results of operations of the Group that actually would have been achieved had the acquisition been completed on January 1, 2021, nor is it intended to be a projection of future results. The pro-forma amounts have been calculated after adjusting the results of Dada to reflect the additional amortization that would have been charged assuming the fair value adjustments to intangible assets had been applied from January 1, 2021.

Acquisition of CNLP

In September 2021, the Group, through JD Property, entered into a sale and purchase agreement to acquire additional shares of CNLP, which is principally engaged in the leasing of storage facilities and the related management services and was listed on the Main Board of the HKEX, representing approximately

26.38

% of the issued share capital of CNLP. In accordance with relevant listing rules, JD Property w

required to make an offer for all the issued shares of CNLP and an offer for all the outstanding convertible bonds of CNLP. As of March

2022

, JD Property

obtained

all the outstanding convertible bonds and

certain number

of CNLP’s issued and outstanding shares with a cash consideration of HK$

13,066

million. The Group obtained control of CNLP since it assigned all the board members of CNLP on March

2022

and held

approximately 80%

of shareholding interests. Prior to the acquisition, the Group held 10.6% of the issued share capital of CNLP and measured its investment in CNLP at fair value. The fair value of the previously held equity interests was determined by the market price of shares of CNLP at the acquisition date.

The purchase price as of the date of acquisition is comprised of:


	Amounts
	(RMB in millions)
Cash		10,538
Fair value of previously held equity interests		1,293

Total		11,831


	Amounts
	(RMB in millions)

Net assets acquired		4,309
Appreciation of property, equipment and software, construction in progress and land use right s		10,908
Goodwill		1,586
Deferred tax liabilities		(2,679	)
Non-controlling interests		(2,293	)

Total		11,831

Net assets acquired primarily consisted of property, equipment and software, construction in progress and land use rights of

RMB

12,026

million and borrowings of RMB

8,886

million as of the date of acquisition. Fair value of the

non-controlling

interests was determined based on the market price of shares of CNLP at the acquisition date.

Goodwill arising from the acquisition of CNLP was attributable to the benefit of expected synergies, the assembled workforce, revenue growth and future market development as of the date of acquisition and recorded in New Businesses segment. Goodwill arising on the acquisition is not expected to be deductible for tax purposes.

Acquisition of CNLP (Continued)

om Mar

ch to July 2022, the Group acquired the remaining equity interest in CNLP with a total consideration of HK$3,072 million

(RMB2,637 million)

, which is treated as an equity transaction. CNLP

s privatized on July 15, 2022.

Upon completion of the transaction, CNLP became a wholly-owned subsidiary of the Company.

Results of operations attributable to the acquisition of CNLP and pro forma results of operations for the acquisition of CNLP have not been presented because they are not material to the consolidated statements of operations and comprehensive income/(loss) for the years ended December 31, 2021 and 2022.

Acquisition of Deppon Holdco

On March 11, 2022, the Group, through a subsidiary of JD Logistics, entered into a series of agreements with the shareholders of Deppon Holdco, in relation to the acquisition of approximately

99.99

equity interest of Deppon Holdco, which in turn holds approximately

66.5

of the issued share capital of Deppon Logistics Co., Ltd (“Deppon”), for a total consideration of approximately

RMB

8,976

million. Deppon is a company established under the laws of the PRC, the shares of which are listed on the Shanghai Stock Exchange (stock code: 603056). Deppon is an integrated, customer-centered logistics company providing a wide range of solutions including Less-Than-Truckload (LTL) transportation, Full Truck Load (FTL) transportation, delivery services, and warehousing management. The

cquisition was completed on July 26, 2022. Upon completion of the transaction, Deppon Holdco became a consolidated subsidiary of the Group.

Deppon Holdco owns certain entities, assets and liabilities that the Group and the founding vendors have agreed to exclude from the consolidated financial statements of Deppon Holdco (the “Excluded Business”), which the founding vendors shall be solely responsible for the costs, expenses and liabilities relating to the Excluded Business and its subsequent disposal. Accordingly, for those subsidiaries under the Excluded Business, the Group considers that it has no power, no exposures, nor rights to variable returns from involvement of their business operations. Further, the Group also does not have any ability to affect the amount of the Group’s returns from the aforesaid subsidiaries. Therefore, the Group considers that the control of these subsidiaries will not be obtained through the acquisition, thus the financial information of these subsidiaries under the Excluded Business will not be consolidated into the consolidated financial statements of the Group after the acquisition.

The purchase price as of the date of acquisition is comprised of:


	Amounts
	(RMB in millions)
Cash		8,976


	Amounts
	(RMB in millions)
Net assets acquired		6,570
Newly identified and appreciation of intangible assets
- Trademarks and domain names		1,661
- Technology		676
- Customer relationships		8
Appreciation of construction in progress and land use rights		15
Goodwill		5,350
Deferred tax liabilities		(590	)
Non-controlling interests		(4,714	)

Total		8,976

Net assets acquired primarily consisted of property, equipment and software, construction in progress and land use rights of

RMB5,306

million, short-term investments of RMB1,270 million and borrowings of

RMB3,776

million as of the date of acquisition. Acquired amortizable intangible assets had a weighted-average amortization period of

15.3

years. Fair value of the

non-controlling

interests was determined based on the market price of shares of Deppon at the acquisition date.

The fair value of the trade receivables acquired was

RMB2,101 million at the date of acquisition. The best estimate at acquisition date of the contractual cash flows not expected to be collected

was not material

Goodwill arising from the acquisition of Deppon Holdco was attributable to the benefit of expected synergies, the assembled workforce, revenue growth and future market development as of the date of acquisition and recorded in JD Logistics segment. Goodwill arising on the acquisition is not expected to be deductible for tax purposes.

In March, 2022, the Group and Mr. Weixing Cui, one of the founding vendors of Deppon, entered into an option agreement in relation to the

43,009,184

shares of Deppon (the “Option Shares”) pledged to the Group, whereas Mr. Weixing Cui shall have the right to cause the Group to purchase all (but not less than all) of the Option Shares at put option price. The exercise of the put option is subject to certain conditions as set out in the option agreement, which is not solely within the control of JD Logistics. The Option Shares were recorded as redeemable non-controlling interests under mezzanine equity in amount of

RMB589 million at the acquisition date.

Had the acquisition date of Deppon been January 1, 2021, the revenue and

net loss

of the Group would have been RMB982.8

illion and RMB4.5

illion in 2021,

respectively, and the revenue and net income

of the Gro

would have been RMB1,063.2

billion and RMB9.7

billion in 2022, respectively. The pro-forma information is for illustrative purposes only and is not necessarily an indication of revenue and results of operations of the Group that actually would have been achieved had the acquisition been completed on January 1, 2021, nor is it intended to be a projection of future results. The pro-forma amounts have been calculated after adjusting the results of Deppon to reflect the additional amortization that would have been charged assuming the fair value adjustments to intangible assets had been applied from January 1, 2021.

The consideration of the acquisition shall be settled in installments. As of December 31, 2022, deferred consideration payables of RMB575 million was recorded in “Accrued expenses and other current liabilities” and RMB445

million was recorded in “Other non-current liabilities

”.

The related transaction costs of these business combinations are not material to the consolidated financial statements.

Investment in equity investees

12 Months Ended

Dec. 31, 2022

Investment in equity investees

Investment in equity investees

8.	Investment in equity investees

Measurement Alternative and NAV practical expedient

The carrying amount of the Group’s equity investments measured at fair value using the Measurement Alternative was RMB19,643 million and RMB20,707

million as of December 31, 2021 and 2022, respectively, and the carrying amount of the Group’s investments under NAV practical expedient was RMB7,325 million and RMB7,982 million as of December 31, 2021 and 2022, respectively. For the years ended December 31, 2020, 2021 and 2022, the Group invested RMB10,201 million, RMB4,787 million and RMB1,683

million in multiple private companies and private equity funds accounted for under the Measurement Alternative and NAV practical expedient, respectively, which may have operational synergy with the Group’s core business. During the years ended December 31, 2020, 2021 and 2022, fair value changes recognized for equity investments which were measured using the Measurement Alternative, excluding the gain from fair value change recognized on ATRenew Inc. (“ATRenew”, formerly known as AiHuiShou International Co., Ltd.) for the year ended December 31, 2021, and NAV practical expedient were not significant, respectively.

Equity method

As of December 31, 2022, the Group’s investments accounted for under the equity method totaled RMB28,952 million (as of December 31, 2021: RMB36,254 million), which mainly included the investment in Yonghui Superstores Co., Ltd, (“Yonghui”) amounting to RMB4,056

million, investment in JD Technology amounting to RMB

11,354 million and investment in ATRenew amounting to RMB1,449 million. The Group applies the equity method of accounting to account for its equity investments, in common stock or

in-substance

common stock, over which it has significant influence but does not own a majority equity interest or otherwise control.

Investment in Yonghui

Yonghui is a leading hypermarket and supermarket operator in China and is listed on the Shanghai Stock Exchange. As of December 31, 2022, total consideration for the investment in Yonghui was RMB6,462

million in cash. The Group held approximately 13.4% of Yonghui’s issued and outstanding shares and accounted for the investment in Yonghui using the equity method as the Group obtained significant influence by the rights to nominate

one board member out of nine. The Group received dividend of RMB147 million, RMB25 million and RMB24 million

from Yonghui

for the years ended December 31, 2020, 2021 and 2022, respectively, which have been recorded as a reduction to the carrying amount of investment in Yonghui.

Investment in Yonghui is accounted for using the equity method with the investment cost allocated as follows:


	As of December 31,
	2021			2022

	(RMB in millions)
Carrying value of investment in Yonghui’s ordinary shares		4,592			4,056
Proportionate share of Yonghui’s net tangible and intangible assets		2,225			1,768

Positive basis difference		2,367			2,288

Positive basis difference has been assigned to:
Goodwill (*)		1,111			1,111
Amortizable intangible assets (**)		1,674			1,569
Deferred tax liabilities		(418	)		(392	)

		2,367			2,288

(*)

In the third quarter of 2021, the Group conducted impairment assessments on its investment in Yonghui considering the duration and severity of the decline of Yonghui’s stock price after the investment, and concluded the decline in fair value of the investment was other-than-temporary. Accordingly, the Group recorded impairment charges of RMB1,492 million, to write down the carrying value of its investment in Yonghui to its fair value, based on quoted closing prices of Yonghui as of September 30, 2021.

(**)	As of December 31, 2022, the weighted average remaining life of the amortizable intangible assets not included in Yonghui’s consolidated financial statements was 13 years.

As of December 31, 2021

and 2022, the market value of the Group’s investment in Yonghui was RMB4,921 million and RMB4,435 million based

on its quoted closing price, respectively.

Investment in Dada

Prior to 2020, the Group acquired ordinary shares and preferred shares of Dada for total consideration of RMB5,723 million with a combination of RMB3,513 million in cash, the Group’s series of future services arrangements commenced from 2016, including supply chain support for a period of 10 years, traffic and other additional support for a period of 7 years,

non-compete

obligation for a period of 7 years from 2016 and the Group’s O2O business, JD Daojia. On June 5, 2020, Dada completed its initial public offering on the Nasdaq Stock Market (“Dada IPO”). Concurrently with Dada IPO, the Group converted its preferred shares investment in Dada to ordinary shares in entirety. In addition, the Group subscribed for additional ordinary shares of Dada with cash consideration of RMB703 million in 2020. The Group’s interest in Dada was diluted to approximately 46% and a deemed disposal gain of RMB5,229 million was recognized in “shares of results of equity investees” in the consolidated statements of operations and comprehensive income/(loss) for the year ended December 31, 2020. Prior to JD’s acquisition in Dada

as disclosed in Note 7

, the investment in Dada’s ordinary shares was accounted for using the equity method as the Group obtained significant influence by the rights to nominate three board members out of nine.

The investment in Dada is accounted for using the equity method with the investment cost allocated as follows:


	As of December 31, 2021
	(RMB in millions)
Carrying value of investment in Dada’s ordinary shares		6,075
Proportionate share of Dada’s net tangible and intangible assets		2,136

Positive basis difference		3,939

Positive basis difference has been assigned to:
Goodwill		3,893
Amortizable intangible assets		61
Deferred tax liabilities		(15	)

		3,939

As of December 31, 2021, the market value of the Group’s investment in Dada was RMB9,106 million based on its quoted closing pric

Investment in JD Technology

As disclosed in Note 6, investment in JD Technology has been accounted for using the equity method subsequent to June 2020.

In June 2020, the Group entered into agreements with JD Technology, pursuant to which the Group has acquired an aggregate of 36.8% equity interest in JD Technology by converting the profit sharing right and investing additional RMB1.78 billion in cash in JD Technology. Upon the completion of the acquisition of JD Technology’ equity interests, the investment in JD Technology is accounted for using the equity method. In March 2021, the Group transferred JD Cloud & AI with investing additional RMB4 billion in cash in exchange of ordinary shares in JD Technology, and the Group’s equity interest in JD Technology increased to approximately 41.7%.

As the Group and JD Technology are both controlled by Mr. Richard Qiangdong Liu before and after the acquisition of JD Technology’ equity interests, the acquisition is considered a transaction under common control. Pursuant to ASC 805-50-25-2, the Group recorded the investment in JD Technology amounting to

RMB2.62

billion in 2021, based on its proportioned net assets of JD Technology. The difference between consideration transferred and the carrying amounts of the net assets received, which was a decrease of

RMB901

million into additional paid-in capital was recorded for the year ended December 31, 2021.

Investment in ATRenew

Pre-IPO

investment in ATRenew

ATRenew is a leading technology-driven pre-owned consumer electronics transactions and services platform in China.

As of December 31, 2020, total consideration for the investment in ATRenew was RMB4,141 million. In 2021, the Group completed further investment in preferred shares of ATRenew for a cash consideration of RMB129 million.

The investment in ATRenew’s preferred shares was accounted for under the Measurement Alternative as the underlying preferred shares were not considered in-substance common stock and had no readily determinable fair value

Post-IPO

investment in ATRenew

On June 18, 2021, ATRenew completed its initial public offering on the Nasdaq Stock Market (“ATRenew IPO”), upon which the preferred shares investment in ATRenew were converted to ordinary shares in entirety. Pursuant to ASU

2020-01,

the Group remeasured its previously held interest based on the observable price in orderly transactions and recorded a gain from fair value change of RMB2,305 million in others, net in the consolidated statements of operations and comprehensive income/(loss) for the year ended December 31, 2021. Concurrently, the Group subscribed additional 2,333,333 ordinary shares of ATRenew with cash consideration of RMB321 million. Upon the offering, the Group held approximately 33% of ATRenew’s issued and outstanding shares and had two out of seven board seats. Accordingly, investment in ATRenew’s ordinary shares was accounted for using the equity method as the Group obtained significant influence. In December 2021, the Group purchased additional ordinary shares of ATRenew with cash consideration of RMB41 million.

The investment in ATRenew is accounted for using the equity method with the investment cost allocated as follows:


	As of December 31,
	2021			2022

	(RMB in millions)

Carrying value of investment in ATRenew’s ordinary shares		2,832			1,449
Proportionate share of ATRenew’s net tangible and intangible assets		2,209			2,080

Positive/(negative) basis difference		623			(631	)

Positive/(negative) basis difference has been assigned to:
Goodwill (*)		35			—
Amortizable intangible assets (**)		784			(450	)
Deferred tax liabilities		(196	)		(181	)

		623			(631	)

(*)

In the fourth quarter of 2021 and the second quarter of 2022, the Group conducted impairment assessments on its investment in ATRenew considering the duration and severity of the decline of ATRenew’s stock price after the investment, and concluded the decline in fair value of the investment was other-than-temporary. Accordingly, the Group recorded impairment charges of RMB3,909 million and RMB1,191 million, respectively, to write down the carrying value of its investment in ATRenew to its fair value, based on quoted closing prices of ATRenew as of December 31, 2021 and June 30, 2022, respectively.

(**)	As of December 31, 2022, the negative basis difference between carrying value of investment in ATRenew and proportionate share of ATRenew’s net tangible and intangible assets was RMB631 million. This difference would not be amortized.

As of December

31,

2021 and

2022, the market value of the Group’s investment in ATRenew was

RMB2,832 million and

RMB1,505 million based on its quoted closing price

, respectively

The Group

recorded its interests in Yonghui, JD Technology and ATRenew one quarter in arrears to enable the Group to provide its financial disclosure independent of the reporting schedule of these equity investees.

The Group summarizes the condensed financial information of the Group’s equity investments under equity method as a group below in accordance with Rule

4-08

of Regulation

S-X:


	For the year ended December 31,
	2020		2021			2022
	(RMB in millions)
Revenues		140,263		145,582			160,554
Gross profit		45,590		39,736			47,369
Income/(loss) from operations		5,157		1,877			(2,158	)
Net income/(loss)		2,680		(250	)		(1,583	)
Net income/(loss) attributable to ordinary shareholders		3,292		675			(1,327	)


	As of December 31,
	2021		2022

	(RMB in millions)
Current assets		150,304		149,946
Non-current assets		140,872		142,288
Current liabilities		109,790		116,158
Non-current liabilities		49,919		54,494
Non-controlling interests		973		623

The Group performs impairment assessment of its investments under the Measurement Alternative and equity method whenever events or changes in circumstances indicate that the carrying value of the investment may not be fully recoverable. Impairment charges in connection with the equity method investments of RMB488 million, RMB5,514 million and RMB1,316 million were recorded in “share of results of equity investees” in the consolidated statements of operations and comprehensive income/(loss) for the years ended December 31, 2020, 2021 and 2022, respectively. The valuation of impairment in privately held companies under the Measurement Alternative is discussed in Note 5.

Accounts receivable, net

12 Months Ended

Dec. 31, 2022

Accounts receivable, net

Accounts receivable, net

9.	Accounts receivable, net

Accounts receivable, net consist of the following:


	As of December 31,
	2021			2022

	(RMB in millions)
Logistics receivables		6,204			11,063
Online retail and online marketplace receivables (*)		5,840			9,982
Advertising receivables and others		890			1,113

Accounts receivable		12,934			22,158
Allowance for doubtful accounts		(1,034	)		(1,582	)

Accounts receivable, net		11,900			20,576

The movements in the allowance for doubtful accounts are as follows:


	For the year ended December 31,
	2020			2021			2022

	(RMB in millions)
Balance at beginning of the year		(318	)		(566	)		(1,034	)
Additions		(331	)		(535	)		(615	)
Write-off		83			67			67

Balance at end of the year		(566	)		(1,034	)		(1,582	)

(*)

For the accounts receivable in relation to consumer financing business, which is recorded in online retail and online marketplace receivables, as JD Technology performs credit risk assessment services for the individuals and purchases the

over-due

receivables from the Group at carrying values to absorb the risks and obtain the rewards from such business, no allowance for doubtful accounts in relation to consumer financing receivables w

provided.

Inventories, net

12 Months Ended

Dec. 31, 2022

Inventories, net

Inventories, net

10.	Inventories, net

Inventories, net consist of the following:


	As of December 31,
	2021			2022

	(RMB in millions)
Products		77,422			80,966
Packing materials and others		478			1,098

Inventories		77,900			82,064
Inventory valuation allowance		(2,299	)		(4,115	)

Inventories, net		75,601			77,949

Property, equipment and software, net

12 Months Ended

Dec. 31, 2022

Property, equipment and software, net

Property, equipment and software, net

11.	Property, equipment and software, net

Property, equipment and software, net consist of the following:


	As of December 31,
	2021			2022

	(RMB in millions)
Electronic equipment		11,222			2,663
Land, building and building improvement		21,072			40,642
Logistics, warehouse and other heavy equipment		10,084			14,097
Vehicles		2,681			5,743
Leasehold improvement		3,766			4,550
Office equipment		530			640
Software		867			1,033

Total		50,222			69,368
Less: accumulated depreciation		(17,278	)		(14,288	)

Net book value		32,944			55,080

Depreciation expenses were RMB5,037 million, RMB5,000 million and RMB5,295 million for the years ended December 31, 2020, 2021 and 2022, respectively. No material impairment charge was recorded for the years ended December 31, 2020, 2021 and 2022, respectively.

Land use rights, net

12 Months Ended

Dec. 31, 2022

Land use rights, net

Land use rights, net

12.	Land use rights, net

Land use rights, net consist of the following:


	As of December 31,
	2021			2022

	(RMB in millions)
Land use rights		15,253			35,481
Less: accumulated amortization		(925	)		(1,633	)

Net book value		14,328			33,848

Amortization expenses for land use rights were RMB229 million, RMB276 million and RMB693 million for the years ended December 31, 2020, 2021 and 2022, respectively. No impairment charge was recorded for the years ended December 31, 2020, 2021 and 2022, respectively.

As of December 31, 2022, amortization expenses related to the land use rights for future periods are estimated to be as follows:


	For the year ended December 31,
	2023		2024		2025		2026		2027		2028 and thereafter

	(RMB in millions)
Amortization expenses		791		791		791		791		791		29,893

Intangible assets, net

12 Months Ended

Dec. 31, 2022

Intangible assets, net

Intangible assets, net

13.	Intangible assets, net

Intangible assets, net consist of the following:


	As of December 31, 2021
	Weighted- Average Amortization Period		Gross Carrying Amount		Accumulated Amortization			Impairment Amount			Net Carrying Amount

	Year		(RMB in millions)

Non-compete		8.0		2,467		(2,120	)		—			347
Domain names and trademarks		18.9		4,186		(1,066	)		(27	)		3,093
Customer relationship		8.8		2,713		(454	)		(60	)		2,199
Technology and others		6.0		1,050		(767	)		(85	)		198

Total		12.2		10,416		(4,407	)		(172	)		5,837


	As of December 31, 2022
	Weighted- Average Amortization Period		Gross Carrying Amount		Accumulated Amortization			Impairment Amount			Net Carrying Amount

	Year		(RMB in millions)

Non-compete		8.0		2,467		(2,279	)		—			188
Domain names and trademarks		17.8		6,756		(1,440	)		(27	)		5,289
Customer relationship		8.7		2,823		(765	)		(60	)		1,998
Technology and others		5.4		2,890		(1,141	)		(85	)		1,664

Total		12.1		14,936		(5,625	)		(172	)		9,139

Amortization expenses for intangible assets were RMB802 million, RMB956 million and RMB1,248 million for the years ended December 31, 2020, 2021 and 2022, respectively. No impairment charge was recorded for the years ended December 31, 2020, 2021 and 2022, respectively.

As of December 31, 2022, amortization expenses related to the intangible assets for future periods are estimated to be as follows:


	For the year ended December 31,
	2023		2024		2025		2026		2027		2028 and thereafter

	(RMB in millions)
Amortization expenses		1,305		1,188		1,124		979		908		3,635

Goodwill

12 Months Ended

Dec. 31, 2022

Goodwill

Goodwill

14.

Goodwill

The changes in the carrying amount of goodwill are as follows, with information retrospectively adjusted in accordance with the segment changes as disclosed in Note 3


	JD Retail			JD Logistics		Dada		New Businesses			Total
				(RMB in millions)
Transaction in 2020
Additions		2,627			1,633		—		—			4,260
Balance as of December 31, 2020
Goodwill		9,278			1,633		—		2,593			13,504
Accumulated impairment loss		(7	)		—		—		(2,593	)		(2,600	)

		9,271			1,633		—		—			10,904

Transaction in 2021
Additions		1,529			—		—		—			1,529
Balance as of December 31, 2021
Goodwill		10,807			1,633		—		2,593			15,033
Accumulated impairment loss		(7	)		—		—		(2,593	)		(2,600	)

		10,800			1,633		—		—			12,433

Transaction in 2022
Additions		1,398			5,350		3,144		1,586			11,478
Disposal of a subsidiary		(788	)		—		—		—			(788	)
Balance as of December 31, 2022
Goodwill		11,417			6,983		3,144		4,179			25,723
Accumulated impairment loss		(7	)		—		—		(2,593	)		(2,600	)

		11,410			6,983		3,144		1,586			23,123

No impairment loss of goodwill was recorded for the years ended December 31, 2020, 2021 and 2022, respectively.

Accounts payable

12 Months Ended

Dec. 31, 2022

Accounts payable

Accounts payable

15.	Accounts payable

Accounts payable consist of the following:


	As of December 31,
	2021		2022

	(RMB in millions)
Vendor payable		112,317		126,821
Shipping charges payable and others		28,167		33,786

Total		140,484		160,607

JD Technology and other financial institutions (the “Institutions”) offer supply chain financing services to the Group’s suppliers. Suppliers can sell one or more of the Group’s payment obligations at their sole discretion to the Institutions to receive funds ahead of time to meet their cash flow needs. The Group’s rights and obligations are not impacted. The original payment terms, timing or amount, remain unchanged. As of December 31, 2021 and 2022, RMB20,127 million and RMB16,671 million, respectively, of the outstanding payment obligations were elected by the suppliers and sold to the Institutions.

Accrued expenses and other current liabilities

12 Months Ended

Dec. 31, 2022

Accrued expenses and other current liabilities

Accrued expenses and other current liabilities

16.	Accrued expenses and other current liabilities

Accrued expenses and other current liabilities consist of the following:


	As of December 31,
	2021		2022

	(RMB in millions)
Deposits		17,372		18,211
Salary and welfare		8,396		11,303
Accrued administrative expenses		1,165		1,917
Rental fee payable		1,199		1,361
Professional fee		904		1,348
Payable related to employees’ exercise of share-based awards		333		1,273
Liabilities for return allowances		618		743
Deferred consideration payables		—		575
Vehicle fee		437		520
Internet data center fee		444		409
Interest payable		134		167
Others		3,466		4,743

Total		34,468		42,570

Unsecured senior notes

12 Months Ended

Dec. 31, 2022

Unsecured senior notes

Unsecured senior notes

17.	Unsecured senior notes

In April 2016, the Company issued unsecured senior notes with two maturity dates for an aggregate principal amount of US$1,000 million. Listed on the Singapore Stock Exchange, these notes are both fixed rate notes and senior unsecured obligations, with interest payable semi-annually in arrears on and of each year, beginning on October 29, 2016. The unsecured senior notes were issued at a discount amounting to RMB79 million. The debt issuance costs of RMB36 million were presented as a direct deduction from the principal amount of the unsecured senior notes in the consolidated balance sheets. The five-year unsecured senior notes due 2021 for the principle amount of US$500 million were mature on April 29, 2021, and the Company repaid the principle amount of US$500 million and the last semi-annual interests.

In January 2020, the Company issued unsecured senior notes with two maturity dates for an aggregate principal amount of US$1,000 million. Listed on the Singapore Stock Exchange, these notes are both fixed rate notes and senior unsecured obligations, with interest payable semi-annually in arrears on and of each year, beginning on July 14, 2020. The unsecured senior notes were issued at a discount amounting to RMB37 million. The debt issuance costs of RMB45 million were presented as a direct deduction from the principal amount of the unsecured senior notes in the consolidated balance sheets.

In 2020, the Group repurchased the Company’s unsecured senior notes from the open market with a total principal amounts of US$12 million (RMB78 million) at a reacquisition price of US$10 million (RMB72 million). In 2022, the Group further repurchased the unsecured senior notes from the open market with a total principal amounts of US$6 million (RMB42 million) at a reacquisition price of US$5 million (RMB35 million). The repurchased unsecured senior notes were derecognized from the Group’s consolidated balance sheets, and the relevant repurchase gains amounting to RMB11 million and RMB6 million were recognized in “interest expense” in the Group’s consolidated statements of operations and comprehensive income/(loss) for the years ended December 31,2020 and 2022, respectively.

A summary of the Company’s unsecured senior notes as of December 31, 2021 and 2022 is as follows:


	As of December 31,				Effective interest rate
	2021		2022		Effective interest rate

	(RMB in millions)
US$500 million 3.875% notes due 2026		3,154		3,453		4.15	%
US$700 million 3.375% notes due 2030		4,402		4,812		3.47	%
US$300 million 4.125% notes due 2050		1,830		1,959		4.25	%

Carrying value		9,386		10,224
Unamortized discount and debt issuance costs		101		98

Total principal amounts of unsecured senior notes		9,487		10,322

The effective interest rates for the unsecured senior notes include the interest charged on the notes as well as amortization of the debt discounts and debt issuance costs.

The unsecured senior notes contain covenants including, among others, limitation on liens, consolidation, merger and sale all or substantially all of the Company’s assets. The notes will rank senior in rights of payment to all of the Company’s existing and future obligations expressly subordinated in rights of payment to the notes and rank at least equal in rights of payment with all of the Company’s existing and future unsecured and unsubordinated obligations (subject to any priority rights pursuant to applicable law).

As of December 31, 2022, the principal of the unsecured senior notes of RMB3,482

million, RMB4,840 million and RMB2,000 million will be due in 2026, 2030 and 2050, respectively. The principal of the unsecured senior notes will be due according to the following schedule:


	Principal amounts
	(RMB in millions)
Within 1 year		—
Between 1 to 2 years		—
Between 2 to 3 years		—
Between 3 to 4 years		3,482
Between 4 to 5 years		—
Beyond 5 years		6,840

Total		10,322

Leases

12 Months Ended

Dec. 31, 2022

Leases

Leases

18.

Leases

The Group has operating leases for warehouses, stores, office spaces, delivery centers and other corporate assets that the Group utilizes under lease arrangements.

A summary of supplemental information related to operating leases as of December 31, 2021 and 2022 is as follows:


	As of December 31,
	2021			2022

	(RMB in millions)
Operating lease ROU assets		19,987			22,267
Operating lease liabilities-current		6,665			7,688
Operating lease liabilities-non-current		13,721			14,978

Total operating lease liabilities		20,386			22,666

Weighted average remaining lease term		5.6 years			5.4 years
Weighted average discount rate		5.0	%		5.0	%

A summary of lease cost recognized in the Group’s consolidated statements of operations and comprehensive income/(loss) and supplemental cash flow information related to operating leases is as follows:


	For the year ended December 31,
	2020		2021		2022

	(RMB in millions)
Operating lease cost		4,903		6,763		7,951
Short-term lease cost		1,902		2,782		3,181

Total		6,805		9,545		11,132

Cash paid for operating leases		4,801		6,715		7,915

A summary of maturity of operating lease liabilities under the Group’s

non-cancelable

operating leases as of December 31, 2022 is as follows:


	As of December 31, 2022
	(RMB in millions)
2023		7,885
2024		5,322
2025		3,417
2026		2,278
2027		1,633
2028 and thereafter		5,298

Total lease payments		25,833
Less: interest		(3,167	)

Present value of operating lease liabilities		22,666

As of December 31, 2022, the Group has no significant lease contract that has been entered into but not yet commenced.

Gain on sale of development properties

12 Months Ended

Dec. 31, 2022

Gain On Sale Of Development Properties [Abstract]

Gain on sale of development properties

19.	Gain on sale of development properties

Gain on sale of development properties for the years ended December 31, 2020, 2021 and 2022 were RMB1,649 million, RMB767 million and RMB1,379

million, respectively, which were mainly derived from disposals of logistics facilities to several private funds, which can be further classified into core, development and acquisition fund (collectively, “Property Funds”). The overview of the major funds are listed below.

Core funds

In 2018, the Group established JD Property to manage the expanding logistics facilities and other real estate properties. In 2019, 2020 and 2022, JD Property established several core funds (the “Core Funds”) together with a third-party investor. JD Property serves as the general partner and committed

of the total capital of each core fund as the limited partner, and the third-party investor committed the remaining

Furthermore, in 2019, 2020 and 2022, the Group entered into definitive agreements with each of the Core Funds, pursuant to which the Group will dispose of certain modern logistics facilities to the Core Funds, and concurrently lease back these completed facilities for operational purposes with an initial lease term of

years. The annual rent for the completed facilities is set at fair market rent for the initial lease term and will be adjusted based on the growth rate of fair market rent at the beginning of each subsequent

years’

period. The Group may choose to renew the lease upon the expiry of the initial lease agreement if the adjusted rental rate is acceptable. The lease back transaction is accounted for under ASC 842 as operating lease, and the ROU assets and operating lease liabilities were recorded accordingly. The Core Funds used leverage to finance the purchase, and the closing of the purchase is subject to certain conditions, including the availability of debt financing.

The investment committee of each of the Core Funds, which comprises the representatives from JD Property and the third-party investor, oversees the key operations of each fund, respectively. Given the control over the Core Funds is shared between JD Property and the third-party investor, JD Property does not consolidate the Core Funds and investments in the Core Funds are accounted for using the equity method as JD Property obtained significant influence by the rights to nominate no more than half of the members of each investment committee.

The closing conditions for each asset group of completed logistics facilities were considered met when each of the Core Funds signed definitive facility agreements with bank consortium to finance the purchase, respectively. As of each respective year-end, all or majority logistics facilities under asset groups related to different core funds have been completed and satisfied hand-over condition. Therefore, the Group recorded disposal gain related to the Core Funds of

RMB

1,181

million, RMB

637

million and RMB

1,289

million for the years ended December 31, 2020, 2021 and 2022, respectively, which represent the excess of cash consideration of the net assets, including the consideration received and expected to receive, over the carrying value of the net assets disposed as of the disposal date.

Development fund

In 2020, JD Property entered into definitive agreements to establish another logistics investment fund, the Development Fund, together with certain third-party investors to replicate the successful experience of the Core Funds. The Development Fund planned to acquire some of JD Property’s uncompleted modern logistics facilities. JD Property serves as general partner and committed

of the total capital of the Development Fund as a limited partner, and the third-party investors committed the remaining

The investment committee of Development Fund, which comprises the representatives from JD Property and the third-party investors, oversees the key operations of the fund. Given the control over the Development Fund is shared between JD Property and third-party investors, JD Property does not consolidate the Development Fund and investments in the Development Fund is accounted for using the equity method as JD Property obtained significant influence by the rights to nominate no more than half of the members of investment committee.

In December 2020, the Group entered into definitive agreements with the Development Fund to sell certain of its uncompleted modern logistics facilities, and will concurrently lease back such facilities for operational purposes when completed. The closing conditions for such facilities were successively met since December 2020 and the Group recorded disposal gain of

RMB468 million and RMB112

million for the years ended December 31, 2020 and 2021, respectively. As of December 31, 2021, all logistics facilities under asset groups related to Development Fund have satisfied hand-over condition, and been derecognized by the Group.

Others, net

12 Months Ended

Dec. 31, 2022

Others, net

Others, net

20.	Others, net

Others, net consist of the following:


	For the year ended December 31,
	2020			2021			2022

	(RMB in millions)
Gains/(losses) from fair value change of long-term investments		29,483			(7,252	)		(4,096	)
Government financial incentives		2,545			2,482			2,773
Interest income		2,753			4,213			5,742
Gains/(losses) from acquirements or disposals of business and investment		279			140			(3,558	)
Impairment of investments		(208	)		(574	)		(1,969	)
Foreign exchange gains/(losses), net		(90	)		42			114
Others		548			359			(561	)

Total		35,310			(590	)		(1,555	)

Government financial incentives represent rewards provided by the relevant PRC municipal government authorities to the Group for business achievements made by the Group. Government financial incentives are recognized in “others, net” in the consolidated statements of operations and comprehensive income/(loss) when the government financial incentives are received and no further conditions need to be met, otherwise the received amounts are recorded as liabilities. The amounts of such government financial incentives are determined solely at the discretion of the relevant government authorities and there is no assurance that the Group will continue to receive these government financial incentives in the future.

Taxation

12 Months Ended

Dec. 31, 2022

Taxation

Taxation

21.

Taxation

a)	Value added tax (“VAT”)

The Group is subject to statutory VAT rate of

from April 1, 2019 for revenues from sales of audio, video products and books in the Chinese mainland. The Group is subject to statutory VAT rate of

from April 1, 2019 for sales of other products in the Chinese mainland. The Group is exempted from VAT for revenues from sales of books from January 1, 2014 to December 31, 2023 in comply with relevant VAT regulations of the Chinese mainland.

The Group is subject to VAT at the rate of 6% or

for revenues from logistics services, and

for revenues from online advertising and other services.

The Group is also subject to cultural undertaking development fees at the rate of 3% on revenues from online advertising services in the

Chinese mainland

, which is

exempted from January 1, 2020 to December 31, 2021 and reduced by 50% from January 1, 2022 to December 31, 2024.

b)	Income tax

Cayman Islands

Under the current laws of the Cayman Islands, the Company and its subsidiaries incorporated in the Cayman Islands are not subject to tax on income or capital gains. Additionally, the Cayman Islands does not impose a withholding tax on payments of dividends to shareholders.

British Virgin Islands

Under the current laws of the British Virgin Islands, entities incorporated in the British Virgin Islands are not subject to tax on their income or capital gains.

Republic of Indonesia

Under the current laws of the Republic of Indonesia, the Group’s subsidiaries in the Republic of Indonesia are subject to

22%

income tax rate on its taxable income generated from operations in the Republic of Indonesia for the years ended December 31, 2020, 2021 and 2022, respectively.

Singapore

Under the current laws of Singapore, the Group’s subsidiaries in Singapore are subject to 17% income tax rate on any taxable income accruing in or derived from Singapore, or received in Singapore from outside Singapore for the years ended December 31, 2020, 2021 and 2022, respectively.

Hong Kong

The Group’s subsidiaries incorporated in Hong Kong are subject to a

two-tiered

income tax rate on its taxable income generated from operations in Hong Kong effective on April 1, 2018. The first HK$2 million of profits earned by its subsidiaries incorporated in Hong Kong will be taxed at half the current tax rate (i.e., 8.25%) while the remaining profits will continue to be taxed at the existing 16.5% tax rate. Under the Hong Kong tax laws, entities in HK are exempted from the Hong Kong income tax on its foreign-derived income. Additionally, payments of dividends by the subsidiaries incorporated in Hong Kong to the Company are not subject to any Hong Kong withholding tax.

Chinese mainland

Under the PRC Enterprise Income Tax Law (the “EIT Law”), the standard enterprise income tax rate for domestic enterprises and foreign invested enterprises is 25%. Most of the Group’s PRC subsidiaries and consolidated VIEs are subject to the statutory income tax rate of 25%.

The EIT Law and its implementation rules permit certain High and New Technologies Enterprises, or HNTEs, to enjoy a red

ced 15% enterprise income tax rate subject to these HNTEs meeting certain qualification criteria. In addition, the relevant EIT laws and regulations also provide that entities recognized as Software Enterprises are able to enjoy a tax holiday consisting of a

two-year-exemption

commencing from their first profitable calendar year and a 50% reduction in ordinary tax rate for the following three calendar years. Beijing Shangke has been entitled to an exemption from income tax for the first two years and 50% reduction for the next three years from its first profitable year as a “software enterprise”. It has also been qualified as HNTE and enjoys a preferential income tax rate of 15%. The privileges cannot be applied simultaneously. Beijing Shangke applied the privilege of “software enterprise” and enjoyed a preferential income tax rate of 12.5% in 2019 and 2020. Beijing Shangke applied the privilege of HNTEs and enjoyed a reduced 15% enterprise income tax rate

2021

and 2022

. Beijing Wodong Tianjun has been entitled to an exemption from income tax for the first two years and 50% reduction for the next three years from its first profitable year as a “software enterprise”. It applied the privilege of “software enterprise” and enjoyed an exemption from income tax in 2020 and 2021, and a 50% reduction in 2022.

Certain enterprises will benefit from a preferential tax rate of 15% under the EIT Law if they are located in applicable PRC regions as specified in the Catalogue of Encouraged Industries in Western Regions (initially effective through the end of 2010 and further extended to 2030), or the Western Regions Catalogue, subject to certain general restrictions described in the EIT Law and the related regulations. Chongqing Haijia and certain other entities of the Group are qualified as the enterprises within the Catalogue of Encouraged Industries in Western Regions and enjoyed 15% preferential income tax rate.

According to the relevant laws and regulations in the PRC, enterprises engaging in research and development activities are entitled to claim 150% of their research and development expenses so incurred as tax deductible expenses when determining their assessable profits for that year (“Super Deduction”). The State Taxation Administration of the PRC announced in September 2018 that enterprises engaging in research and development activities would be entitled to claim 175%

of their research and development expenses as Super Deduction from January 1, 2018 to December 31, 2020, which was subsequently announced in March 2021 to be further extended to December 31, 2023. In September 2022, the State Taxation Administration of the PRC further announced that for the enterprises entitled to the current pre-tax deduction ratio of

175% for research and development expenses, such ratio is raised to 200% during the period from October 1, 2022 to December 31, 2022.

Withholding tax on undistributed dividends

The EIT Law also provides that an enterprise established under the laws of a foreign country or region but whose “de facto management body” is located in the PRC be treated as a resident enterprise for the PRC tax purposes and consequently be subject to the PRC income tax at the rate of 25% for its global income. The Implementing Rules of the EIT Law merely define the location of the “de facto management body” as “the place where the exercising, in substance, of the overall management and control of the production and business operation, personnel, accounting, property, etc., of a

non-PRC

company is located.” Based on a review of surrounding facts and circumstances, the Group does not believe that it is likely that its operations outside of the PRC should be considered as a resident enterprise for the PRC tax purposes.

The EIT law also imposes a withholding income tax of 10%

on dividends distributed by a Foreign Investment Enterprise (“FIE”) to its immediate holding company outside of the Chinese mainland, if such immediate holding company is considered as a

non-resident

enterprise

without any establishment or place within the Chinese mainland or if the received dividends have no connection with the establishment or place of such immediate holding company within the Chinese mainland, unless such immediate holding company’s jurisdiction of incorporation has a tax treaty with the Chinese mainland that provides for a different withholding arrangement. According to the arrangement between the Chinese mainland and Hong Kong Special Administrative Region on the Avoidance of Double Taxation and Prevention of Fiscal Evasion in August 2006, dividends paid by an FIE in the Chinese mainland to its immediate holding company in Hong Kong will be subject to withholding tax at a rate of no more than

5% (if the FIE satisfies the criteria for “beneficial owner” under Circular No. 9, which was issued by the State Administration of Taxation in February 2018, and the foreign investor owns directly at least 25% of the shares of the FIE).

In 2020 and 2021, the Company did not record any dividend withholding tax on the retained earnings of its FIEs in the Chinese mainland, as the Company intended to reinvest all earnings in the Chinese mainland to further expand its business in the Chinese mainland, and its FIEs did not intend to declare dividends on the retained earnings to their immediate foreign holding companies.

In 2022, the Company accrued RMB367

million withholding tax expenses associated with its earnings expected to be distributed from its FIEs in the Chinese mainland to overseas. As of December 31, 2022, the Company has accrued withholding tax liabilities associated with all of its earnings expected to be distributed from its FIEs in the Chinese mainland to overseas, except for unrecognized deferred tax liabilities of RMB4.3 billion related to the remaining undistributed earnings that the Company still intends to indefinitely reinvest in the Chinese mainland.

The components of income/(loss) before tax are as follows:


	For the year ended December 31,
	2020			2021			2022

	(RMB in millions)
Income/(loss) before tax
Income from Chinese mainland operations		15,803			14,518			16,800
Income/(loss) from non-Chinese mainland operations		35,016			(17,098	)		(2,933	)
Total income/(loss) before tax		50,819			(2,580	)		13,867

Income tax benefits/(expenses) applicable to Chinese mainland operations
Current income tax expenses		(2,201	)		(2,538	)		(4,418	)
Deferred tax benefits		719			651			732
Subtotal income tax expenses applicable to Chinese mainland operations		(1,482	)		(1,887	)		(3,686	)
Income tax expenses applicable to non-Chinese mainland operations
Current income tax expenses		—			—			(307	)
Deferred tax expenses		—			—			(183	)
Subtotal income tax expenses applicable to non-Chinese mainland operations		—			—			(490	)

Total income tax expenses		(1,482	)		(1,887	)		(4,176	)

Reconciliation of difference between the PRC statutory income tax rate and the Group’s effective income tax rate for the years ended December 31, 2020, 2021 and 2022 is as follows:


	For the year ended December 31,
	2020		2021		2022
Statutory income tax rate		25.0%		25.0%		25.0	%
Tax effect of preferential tax rates and tax holiday		(2.3)%		86.0%		(19.3	)%
Tax effect of tax-exempt entities		(16.8)%		(143.7)%		12.1	%
Effect on tax rates in different tax jurisdiction		(0.5)%		(2.3)%		(3.2	)%
Tax effect of non-deductible expenses		0.5%		(13.8)%		4.0	%
Tax effect of non-taxable income		0.0%		1.4%		(0.4	)%
Tax effect of Super Deduction and others		(4.2)%		105.9%		(19.0	)%
Changes in valuation allowance		1.2%		(131.6)%		28.3	%
Effect on withholding income tax		0.0%		0.0%		2.6	%

Effective tax rates		2.9%		(73.1)%		30.1	%

The following table sets forth the effect of tax holiday:


	For the year ended December 31,
	2020		2021		2022
Tax holiday effect (RMB in millions)		1,153		2,219		2,677
Effect of tax holiday on basic net income/(loss) per share (RMB)		0.38		0.71		0.86
Effect of tax holiday on diluted net income/(loss) per share (RMB)		0.37		0.71		0.84

c)	Deferred tax assets and deferred tax liabilities


	As of December 31,
	2021			2022
	(RMB in millions)
Deferred tax assets
- Net operating loss carry forwards and others		6,303			12,715
- Deferred revenues		553			472
- Inventory valuation allowance		575			1,029
- Allowance for doubtful accounts		603			1,001
- Unrealized fair value losses for certain investments		747			595
Less: valuation allowance		(7,670	)		(14,276	)

Net deferred tax assets		1,111			1,536

Deferred tax liabilities
- Intangible assets arisen from business combination		1,454			5,598
- Withholding tax on undistributed earnings		—			183
- Accelerated tax depreciation and others		443			730

Total deferred tax liabilities		1,897			6,511

As of December 31, 2022, the accumulated net operating loss of RMB8,425 million of the Company’s subsidiaries incorporated in Singapore and Hong Kong can be carried forward indefinitely to offset future taxable income, the remaining accumulated net operating loss of RMB33,632

million mainly arose from the Company’s subsidiaries and consolidated VIEs established in the Chinese mainland and Indonesia, which can be carried forward to offset future taxable income. The remaining accumulated net operating loss will expire during the period from 2023 to 2027 except for those arose from HNTEs, which will expire during the period from 2023 to 2032.

A valuation allowance is provided against deferred tax assets when the Group determines that it is more likely than not that the deferred tax assets will not be utilized in the future. In making such determination, the Group evaluates a variety of factors including the Group’s entities’ operating history, accumulated deficit, existence of taxable temporary differences and reversal periods.

Valuation allowances provided on the deferred tax assets mainly related to the net operating loss carry forwards, as the Group’s management does not believe that sufficient positive evidence exists to conclude that the benefits of such deferred tax assets

are

more likely than not to be realized. The amount of valuation allowance offset in deferred tax assets as of December 31, 2021 and 2022 was RMB7,670 million and RMB14,276 million, respectively.

The movements of valuation allowance of deferred tax assets are as follows:


	For the year ended December 31,
	2020			2021			2022

	(RMB in millions)
Balance at beginning of the year		3,674			4,289			7,670
Additions		4,393			5,052			7,694
Reversals		(3,778	)		(1,671	)		(1,088	)

Balance at end of the year		4,289			7,670			14,276

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 740
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-Section 50
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Financing for major subsidiaries

Financing for major subsidiaries

12 Months Ended

Dec. 31, 2022

22.	Financing for major subsidiaries

JD Health

In May 2019 and August 2020, JD Health entered into definitive agreements for the non-redeemable series A preference share financing of RMB6.5

billion and for the non-redeemable series B preference share financing of

RMB6.3

billion with third-party investors, respectively.

In December 2020, JD Health completed its IPO and issued 439,185,000 ordinary shares, including the exercise of the over-allotment option, at HK$70.58 per share. The net proceeds after deducting underwriting commissions, share issuance costs and offering expenses approximately amounted to RM

B25.7 billion. Upon completion of IPO, the preference shares

were

converted into ordinary shares of JD Health.

As of December 31, 2020, among the proceeds received, RMB11.8 billion was recorded as

non-controlling

interests and RMB26.7 billion was recorded as additional

paid-in

capital.

JD Logistics

In May 2021, JD Logistics completed its IPO and issued 700,534,900 ordinary shares, including the exercise of the over-allotment option, at HK$40.36 per share. The net proceeds after deducting underwriting commissions, share issuance costs and offering expenses approximately amounted to RM

B22.9 billion. Among the proceeds received, RMB6.1 billion was recorded as

non-controlling

interests and RMB16.8 billion was recorded as additional

paid-in

capital.

On March 25, 2022, JD Logistics entered into a placing agreement to issue its ordinary shares to a group of third-party investors for net proceeds of approximately HK$3,102 million in a placement (the “JDL Placement”). Concurrently, the Company, through its wholly-owned subsidiary, had entered into a subscription agreement with JD Logistics to subscribe for ordinary shares of JD Logistics, at the same per share price for the JDL Placement, for net proceeds of approximately US$692 million in cash (the “JD Subscription”). Upon completion of the JDL Placement and the JD Subscription in 2022, the Company maintained its shareholding in JD Logistics at approximately 63.56

%, and continued to consolidate JD Logistics’s financial results into its financial statements. The Company recorded the net proceeds of financing in

non-controlling

interests of RMB

2,221 million and additional

paid-in

capital of RMB295 million.

JD Industrials

In April and December 2020, JD Industrials entered into definitive agreements for

non-redeemable

series A and series

A-1

preference share financing (“JD Industrials Series A and

A-1

Preference Shares”) with a group of third-party investors. The total amount of financing arising from JD Industrials Series A and

A-1

Preference Shares was

US$335 million. Among the proceeds received, RMB

510

million was recorded as non-controlling interests and RMB1,792 million was recorded as additional paid-in capital.

The Group determined that JD Industrials Series A and A-1 Preference Shares should be classified as non-controlling interests upon its issuance since they were not redeemable by the holders.

JD Property

In March 2021, JD Property entered into definitive agreements for the

non-redeemable

series A preference share financing (“JD Property Series A Preference Shares”) with a group of third-party investors. The total amount of financing arising from JD Property Series A Preference Shares was

US$703 million. Among the proceeds received, RMB3.1 billion was recorded as

non-controlling

interests and RMB1.3 billion was recorded as additional

paid-in

capital.

In March and June 2022, JD Property entered into definitive agreements for its non-redeemable series B preferred share financing (“JD Property Series B Preference Shares”) with investors led by Hillhouse Investment, Warburg Pincus, and one leading global institutional investor, among others. The total amount of financing raised was approximately US$

803 million. Among the proceeds received, RMB3.9 billion was recorded as

non-controlling

interests and RMB1.4 billion was recorded as additional

paid-in

capital.

The Group determined that JD Property Series A Preference Shares and JD Property Series B Preference Shares should be classified as

non-controlling

interests upon its issuance since they were not redeemable by the holders.

Ordinary shares

12 Months Ended

Dec. 31, 2022

Ordinary shares

Ordinary shares

23.	Ordinary shares

On May 10, 2019, the Company renewed the strategic cooperation agreement in March 2014 with Tencent Holdings Limited (“Tencent”), for a period of three years starting from May 27, 2019. Tencent continued to provide traffic support, and the two parties also intend to continue to cooperate in a number of areas. As part of the total consideration, the Company agreed to issue to Huang River Investment Limited, a wholly owned subsidiary of Tencent, a certain number of the Company’s Class A ordinary shares for a consideration of approximately US

$250

million at prevailing market prices at certain pre-determined dates during the three-year period, of which

8,127,302, 2,938,584 and 1,914,998 of the Company’s Class A ordinary shares were issued in May 2019, May 2020 and June 2021, respectively.

On June 29, 2022, the Company renewed the strategic cooperation agreement with Tencent, for a period of three years starting from May 27, 2022. As part of the total consideration, the Company agreed to issue to Tencent a certain number of the Company’s Class A ordinary shares for a consideration of up to US$220 million at prevailing market prices at certain

pre-determined

dates during the three-year period, of which

2,164,236

of the Company’s Class A ordinary shares have been issued in July 2022.

In June 2020, the Company completed its global offering and the Company’s shares have been listed on the Main Board of the HKEX. Accordingly, the Company issued 152,912,100 Class A ordinary shares, including the exercise of the over-allotment option.

The ordinary shares reserved for future exercise of the RSUs and share options were 124,045,978 and 90,955,190 as of December 31, 2021 and 2022, respectively.

Dividends	12 Months Ended
Dividends	Dec. 31, 2022
Dividends [Abstract]
Dividends	24. Dividends On May 4, 2022, the Board of Directors of the Company approved a special cash dividend of US$0.63 per ordinary share, or US$1.26 per American depositary share (“ADS”), to the holders of ordinary shares and ADSs, respectively, as of the close of business on May 20, 2022. Dividends are recognized when declared. The aggregate amount of the special dividend was approximately US$2 billion. No dividends had been paid or declared by the Company for the years ended December 31, 2020 and 2021, respectively.

Share repurchase program

12 Months Ended

Dec. 31, 2022

Share repurchase program

Share repurchase program

25.	Share repurchase program

In March 2020, the Company’s Board of Directors authorized a share repurchase program (“2020 share repurchase program”) under which the Company may repurchase up to US$2,000 million worth of its ADSs over the following 24 months. The share repurchases may be made in accordance with applicable laws and regulations through open market transactions, privately negotiated transactions or other legally permissible means as determined by the management. In December 2021, the Company’s Board of Directors approved modifications to 2020 share repurchase program, pursuant to which the repurchase authorization increased from US$2,000 million to US$3,000 million and

was

extended until March 17, 2024.

Under the 2020 share repurchase program, for the year ended December 31, 2020, the Company repurchased 1,191,370 ADSs for US$44 million (RMB312 million) on the open market, at a weighted average price of US$37.04 per ADS. For the year ended December 31, 2021, the Company repurchased 10,214,827 ADSs for US$806 million (RMB5,246 million) on the open market, at a weighted average price of US$78.92 per ADS. For the year ended December 31, 2022, the Company repurchased 5,010,203 ADSs for US$286 million (RMB1,823 million) on the open market, at a weighted average price of US$57.14 per ADS.

The Company accounts for the repurchased ordinary shares under the cost method and includes such treasury stock as a component of the shareholders’ equity.

Other comprehensive income

12 Months Ended

Dec. 31, 2022

Other comprehensive income/(loss)

Other comprehensive income

26.	Other comprehensive income

Changes in the composition of accumulated other comprehensive income attributable to ordinary shareholders for the years ended December 31, 2020, 2021 and 2022 are as follows:


	Foreign currency translation adjustments			Net unrealized gains/ (losses) on available- for-sale securities			Total
	(RMB in millions)
Balances as of December 31, 2019		4,108			55			4,163
Other comprehensive loss		(7,656	)		(55	)		(7,711	)

Balances as of December 31, 2020		(3,548	)		—			(3,548	)
Other comprehensive loss		(2,542	)		—			(2,542	)

Balances as of December 31, 2021		(6,090	)		—			(6,090	)
Other comprehensive income		5,131			—			5,131

Balances as of December 31, 2022		(959	)		—			(959	)

The income tax effects related to the accumulated other comprehensive income were insignificant for all periods presented.

Share-based compensation

12 Months Ended

Dec. 31, 2022

Share-based compensation

Share-based compensation

27.	Share-based compensation

For the years ended December 31, 2020, 2021 and 2022, total share-based compensation expenses recognized were RMB4,156 million, RMB9,134 million and RMB7,548 million, respectively. The following table sets forth the allocation of share-based compensation expenses:


	For the year ended December 31,
	2020		2021		2022

	(RMB in millions)
Cost of revenues		98		102		143
Fulfillment		646		882		930
Marketing		347		586		631
Research and development		1,400		1,781		1,557
General and administrative		1,665		5,783		4,287

Total		4,156		9,134		7,548

Share incentive plan

The Company granted share-based awards to eligible employees and

non-employees

pursuant to a share incentive plan entitled “Share Incentive Plan”, which was adopted on November 13, 2014 and governed the terms of the awards.

As of December 31, 2022, the Group had reserved 194,927,210 ordinary shares available to be granted as share-based awards under the Share Incentive Plan.

(1)	Employee and non-employee awards

The RSUs and share options are generally scheduled to be vested over two to ten years.

One-second,

one-third,

one-fourth,

one-fifth,

one-sixth,

one-tenth

of the awards, depending on different vesting schedules of the plans, are usually vested upon the end of the calendar year in which the awards were granted or the first anniversary dates of the grants, and the remaining of the awards shall be vested on straight line basis at the end of the remaining calendar or the anniversary years. Starting from the year ended December 31, 2016, certain awards had multiple tranches with tiered vesting commencement dates from 2016 to 2025, and each of the tranches is subject to a

six-year

vesting schedule. Starting from the year ended December 31, 202

, certain granted RSUs are subject to vesting ratably over a

4-year

vesting period from the grant dates.

Upon the reorganization of JD Technology, the employees’ status of JD Technology changed from the employees of the Company’s subsidiary to

non-employees

of the Company. Subsequent to June 2020, the employees’ status of JD Technology changed from

non-employees

of the Company to employees of the Company’s equity method investee. Share-based awards granted by the Company to employees of JD Technology and share-based awards granted by JD Technology to employees of the Company were insignificant for all periods presented.

RSUs

a) Service-based RSUs

A summary of activities of the service-based RSUs for the years ended December 31, 2020, 2021 and 2022 is presented as follows:


	Number of RSUs			Weighted- Average Grant-Date Fair Value
				US$
Unvested as of December 31, 2019		100,831,204			15.35

Granted		42,621,084			26.44
Vested		(20,632,596	)		15.25
Forfeited or cancelled		(14,550,450	)		16.13

Unvested as of December 31, 2020		108,269,242			19.62

Granted		30,069,498			39.93
Vested		(23,834,466	)		18.89
Forfeited or cancelled		(19,395,408	)		21.30

Unvested as of December 31, 2021		95,108,866			25.89

Granted		13,951,100			29.81
Vested		(23,123,292	)		23.04
Forfeited or cancelled		(14,295,620	)		25.94

Unvested as of December 31, 2022		71,641,054			27.56

As of December 31, 2021 and 2022, 8,208,616 and 5,526,834 outstanding service-based RSUs were held by

non-employees

and employees of the Company’s equity method investee, respectively, mainly including employees of JD Technology.

For the years ended December 31, 2020, 2021 and 2022, total share-based compensation expenses recognized by the Group for the service-based RSUs granted were RMB3,085 million, RMB4,129 million and RMB3,877 million, respectively.

As of December 31, 2022, there were RMB5,735 million of unrecognized share-based compensation expenses related to the service-based RSUs granted. The expenses are expected to be recognized over a weighted-average period of 3.7 years. The total fair value and intrinsic value of service-based RSUs vested was US$494 million (RMB3,458 million), US$973 million (RMB6,359 million) and US$706 million (RMB4,590 million) during the years ended December 31, 2020, 2021 and 2022, respectively.

b) Performance-based RSUs

For the years ended December 31, 2020, 2021 and 2022, total share-based compensation expenses recognized by the Group for the performance-based RSUs granted were insignificant.

As of December 31, 2022, there were no unrecognized share-based compensation expenses related to the performance-based RSUs granted.

Share options

A summary of activities of the service-based share options for the years ended December 31, 2020, 2021 and 2022 is presented as follows:


	Number of Share Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term		Aggregate Intrinsic Value
				US$		Year		US$ in millions
Outstanding as of December 31, 2019		10,224,124			6.39		4.3		115
Exercised		(5,073,294	)		6.23
Forfeited or cancelled		(243,770	)		10.24

Outstanding as of December 31, 2020		4,907,060			6.38		3.0		184

Exercised		(1,962,856	)		5.49
Forfeited or cancelled		(7,092	)		13.42

Outstanding as of December 31, 2021		2,937,112			6.95		2.9		82

Exercised		(620,476	)		5.70
Forfeited or cancelled		(2,500	)		3.96

Outstanding as of December 31, 2022		2,314,136			7.29		2.2		48

Vested and expected to vest as of December 31, 2022		2,298,132			7.25		2.2		48
Exercisable as of December 31, 2022		2,247,452			7.12		2.1		47

As of December 31, 2021 and 2022, 167,206 and 78,706 outstanding share options were held by

non-employees

and employees of the Company’s equity method investee, respectively, mainly including employees of JD Technology.

There was no option granted during the years ended December 31, 2020, 2021 and 2022.

The total intrinsic value of options exercised during the years ended December 31, 2020, 2021 and 2022 was US$111 million (RMB762 million), US$70 million (RMB453 million) and US$14 million (RMB98 million), respectively. The intrinsic value is calculated as the difference between the market value on the date of exercise and the exercise price of the share options.

For the years ended December 31, 2020, 2021 and 2022, total share-based compensation expenses recognized by the Group for the share options granted were insignificant. As of December 31, 2022, the unrecognized share-based compensation expenses related to the share options granted were insignificant. The expenses are expected to be recognized over a weighted-average period of 1.9 years.

(

)

Founder awards

In May 2015, with approval of the board of directors of the Company, Mr. Richard Qiangdong Liu (Mr. Liu), the Founder, was granted an option to acquire a total of 26,000,000 Class A ordinary shares of the Company with an exercise price of US$16.70 per share (or US$33.40 per ADS) under the Company’s Share Incentive Plan, subject to a

10-year

vesting schedule with 10% of the awards vesting on each anniversary of the grant date. The Company will not grant any additional equity incentive to Mr. Liu during the

10-year

period.

For the years ended December 31, 2020, 2021 and 2022, total share-based compensation expenses recognized for the Founder’s share options were RMB104 million, RMB73 million and RMB54 million, respectively.

As of December 31, 2022, there were RMB63 million of unrecognized share-based compensation expenses related to the Founder’s share options. The expenses are expected to be recognized over a weighted-average period of 2.4 years.

(3)	Share-based compensation of subsidiaries

JD Logistics

JD Logistics approved and adopted a

Pre-IPO

share incentive plan on March 31, 2018 and a Post- IPO share option scheme and a Post-IPO share award scheme on May 10, 2021, collectively the “JD Logistics Plan”. JD Logistics launched the JD Logistics Plan to eligible employees and

non-employees

to attract and retain the best available personnel, provide additional incentives to its employees and

non-employees

for promoting the success of JD Logistics. The JD Logistics Plan consists of share options, RSUs and other types of awards.

JD Logistics granted 224,511,105 and 30,030,446

share options of JD Logistics to its employees and

non-

employees

for the years ended December 31, 2020 and 2021, respectively, including the share options granted to Mr. Liu as mentioned below. There was no share option granted in 2022. The estimated fair value of each option granted is estimated on the date of grant using the binomial option-pricing model. The weighted average grant date fair value of options granted for the years ended December 31, 2020 and 2021 was

US$

2.00

and US$

4.31

per share, respectively. For the years ended December 31, 2020, 2021 and 2022, total share-based compensation expenses for the share options granted under the JD Logistics Plan were RMB

640 million, RMB1,162 million and RMB702

million, respectively. As of December 31, 2022, there were RMB

970

million of unrecognized share-based compensation expenses related to the share options granted. The expenses

e expected to be recognized over a weighted-average period of

3.6

years.

In October 2020, options to acquire 99,186,705 ordinary shares of JD Logistics with an exercise price of US$0.01 per share were granted to Mr. Liu according to the JD Logistics Plan. The grant was awarded to Mr. Liu to motivate him to continue leading the future success of JD Logistics. The grant by JD Logistics is subject to a

6-year

vesting schedule with 16.7% of the awards vesting on each anniversary of the grant date.

Starting July 2021, JD Logistics granted RSUs to its employees and

non-employees.

JD Logistics granted 9,663,953 and 41,570,538 RSUs of JD Logistics to its employees and

non-employees

for the years ended December 31, 2021 and 2022, respectively. The estimated fair value of each RSU granted is based on market value of the JD Logistics’s shares on each date of grant. The weighted average grant date fair value of RSUs granted for the year

ended December 31, 2021 and 2022 was HK$35.00 and HK$18.23 per share, respectively. For the years ended December 31, 2021 and 2022, total share-based compensation expenses for the RSUs granted under JD Logistics Plan were RMB39 million and RMB259 million, respectively. As of December 31, 2022, there were RMB412 million of unrecognized share-based compensation expenses related to the RSUs granted. The expenses are expected to be recognized over a weighted-average period of 3.3 years.

JD Health

JD Health approved and adopted a

Pre-IPO

share incentive plan on September 14, 2020 and a

Post-

IPO

share option scheme and a Post-IPO share award scheme on November 23, 2020, collectively the “JD Health Plan”. JD Health launched the JD Health Plan to eligible employees and

non-employees

to attract and retain the best available personnel, provide additional incentives to its employees and

non-employees

for promoting the success of JD Health. The JD Health Plan consists of share options, RSUs and other types of awards.

JD Health granted

94,770,812

share options of JD Health to its employees and

non-employees

for the year ended December 31, 2020, including the share options granted to Mr. Liu as mentioned below. There was no share option granted in 2021 and 2022. The estimated fair value of each option grant is estimated on the date of grant using the binomial option-pricing model. The weighted average grant date fair value of options granted for the year ended December 31, 2020 was

US$

7.45

per share. For the years ended December 31, 2020, 2021 and 2022, total share-based compensation expenses for the share options granted under the JD Health Plan were RMB

331

million, RMB

1,133

million and RMB

960

million, respectively. As of December 31, 2022, there were RMB

1,165

million of unrecognized share-based compensation expenses related to the share options granted. The expenses

e expected to be recognized over a weighted-average period of

4.7

years.

In October 2020, options to acquire

53,042,516

ordinary shares of JD Health with an exercise price of US$

0.0000005

per share were granted to Mr. Liu according to the JD Health Plan. The grant was awarded to Mr. Liu to motivate him to continue leading the future success of JD Health. The grant by JD Health is subject to a

-year

vesting schedule with

16.7

% of the awards vesting on each anniversary of the grant date.

Starting January 2021, JD Health granted RSUs to its employees and

non-employees.

JD Health granted

80,582,712

and

4,638,422

RSUs of JD Health to its employees and

non-employees

for the year

ended December 31, 2021 and 2022, respectively. The estimated fair value of each RSU granted is based on market value of the JD Health’s shares on each date of grant. The weighted average grant date fair value of RSUs granted for the year

ended December 31, 2021

and 2022

was HK$

112.31

and HK$

52.33

per share, respectively. For the years ended December 31, 2021 and 2022, total share-based compensation expenses for the RSUs granted under the JD Health Plan were RMB

1,428

million and RMB

1,108

million, respectively. As of December 31, 2022, there were RMB

1,609

million of unrecognized share-based compensation expenses related to the RSUs granted. The expenses are expected to be recognized over a weighted-average period of

3.9

years.

Other Subsidiaries

In 2021, JD Property and JD

Industrials

each approved and adopted their own share incentive plan (“JD Property Plan” and “JD

Industrials

Plan”), respectively, to eligible employees and

non-employees

to attract and retain the best available personnel, provide additional incentives to its employees and

non-employees

for promoting the success of JD Property and JD

Industrials

. The JD Property Plan and JD

Industrials

Plan both consist of share options, RSUs and other types of awards.

JD Property granted

193,059,698

RSUs

and

108,399,512

share options for the years ended December 31, 2021 and 2022, respectively. The estimated fair value of each RSU and share option granted is estimated on the date of grant using the Black-Scholes option pricing model. The weighted average grant date fair value of RSUs granted for the year ended December 31, 2021 was

RMB

2.42

and the weighted average grant date fair value of share options granted for the year ended December 31, 2022 was

RMB

4.03

per share.

193,059,698

RSUs and options to acquire

81,446,610

ordinary shares of JD Property with an exercise US$

0.0000005

per share were granted to Mr. Liu according to the JD

Property Plan,

which were

fully vested on November 25, 2021 and October 1, 2022, respectively. Total share-based compensation expenses for the RSUs granted under JD Property Plan for the year ended December 31, 2021 were RMB467 million and expenses for the share options granted under JD Property Plan for the year ended December 31, 2022 were RMB354 million. As of December 31, 2022, there were RMB50 million of unrecognized share-based compensation expenses related to the share options granted. The expenses

are

expected to be recognized over a weighted-average period of

0 years.

Industrials

granted 90,629,636

RSUs and

2,660,000

share options for the years ended December 31, 2021 and 2022, respectively. The estimated fair value of each RSU and share option granted is estimated on the date of grant based on the recent rounds of financing or binomi

option-pricing model. The weighted average grant date fair value of RSUs granted for the year ended December 31, 2021 was US$1.18 and the weighted average grant date fair value of share options granted for the year ended December 31, 2022 was

US$1.40

per share.

90,629,636

RSUs, which

were

fully vested on December 30, 2021, were granted to Mr. Liu according to the JD Industrials Plan for the year ended December 31, 2021. Total share-based compensation expenses for the RSUs granted under JD Industrials Plan for the year ended December 31, 2021 were

RMB684

million and expenses for the share options granted under JD Industrials Plan for the year ended December 31, 2022 were

RMB7

million. As of December 31, 2022, there were RMB

million of unrecognized share-based compensation expenses related to the share options granted. The expenses are expected to be recognized over a weighted-average period of

3.25 years.

Other than those disclosed above, the share-based compensation expenses of other subsidiaries in aggregate were insignificant for the years ended December 31, 2020, 2021 and 2022

Net income/(loss) per share

12 Months Ended

Dec. 31, 2022

Net income/(loss) per share

Net income/(loss) per share

28.	Net income/(loss) per share

Basic and diluted net income/(loss) per share for each of the years presented are calculated as follows:


	For the year ended December 31,
	2020			2021			2022
Numerator:
Net income/(loss) attributable to ordinary shareholders — basic (RMB in millions)		49,405			(3,560	)		10,380
Impact of subsidiaries’ diluted earnings (RMB in millions)		(157	)		(2	)		(170	)

Net income/(loss) attributable to ordinary shareholders — diluted (RMB in millions)		49,248			(3,562	)		10,210
Denominator:
Weighted average number of shares — basic		3,021,808,985			3,107,436,665			3,125,571,110
Adjustments for dilutive options and RSUs		87,215,045			—			55,315,026

Weighted average number of shares — diluted		3,109,024,030			3,107,436,665			3,180,886,136
Basic net income/(loss) per share attributable to ordinary shareholders (RMB)		16.35			(1.15	)		3.32
Diluted net income/(loss) per share attributable to ordinary shareholders (RMB)		15.84			(1.15	)		3.21

Generally, basic net income/(loss) per share is computed using the weighted average number of ordinary shares outstanding during the respective year. Diluted net income/(loss) per share is computed using the weighted average number of ordinary shares and dilutive potential ordinary shares outstanding during the respective year. The potentially dilutive ordinary shares included RSUs and options to purchase ordinary shares of 138,762,892, 127,098,868 and 105,899,185 for the years ended December 31, 2020, 2021 and 2022 on a weighted average basis, respectively. They were not included in the calculation of diluted net income/(loss) per share in the periods presented where their inclusion would be anti-dilutive.

Related party transactions

12 Months Ended

Dec. 31, 2022

Related party transactions

Related party transactions

29.	Related party transactions

The table below sets forth the major related parties and their relationships with the Group as of December 31, 2022:


Name of related parties		Relationship with the Group
Tencent and its subsidiaries (“Tencent Group”)(*)		A shareholder of the Group
Dada and its subsidiaries (“Dada Group”)(**)		An investee of the Group
JD Technology (***)		An investee of the Group, and controlled by the Founder
Property Funds		Investees of the Group
ATRenew and its subsidiaries (“ATRenew Group”)		An investee of the Group

(*)

March 2022, Tencent completed a distribution of approximately

460

million Class A ordinary shares of the Company owned by Tencent to its shareholders. As of March 31, 2022, Tencent’s shareholding in the Company was approximately 2.3% and Tencent had no significant influence over the Company. As a result, Tencent Group was not considered

the Group’s related party since then.

(**)	Dada became the subsidiary of the Company since February 28, 2022 as disclosed in Note 7. As a result, Dada Group was not considered as the Group’s related party since then.

(***)

JD Technology became an investee of the Group since June 2020 (Note 6).

(a) The Group entered into the following transactions with the major related parties:


Transactions	For the year ended December 31,
	2020		2021		2022

	(RMB in millions)
Revenues:
Commission from cooperation on advertising business with Tencent Group(*)		355		248		44
Services provided and products sold to Tencent Group(*)		375		553		77
Services provided and products sold to Dada Group		179		523		135
Services provided and products sold to ATRenew Group		664		894		806
Services provided and products sold to JD Technology		598		882		1,044
Operating expenses:
Services received and purchases from Tencent Group(*)		3,226		5,010		1,314
Services received from Dada Group		2,200		1,087		212
Payment processing and other services received from JD Technology		6,945		8,762		11,494
Lease and property management services received from Property Funds		838		1,180		1,249
Services received from ATRenew Group		32		31		4
Other income:
Income from non-compete agreement with Dada Group		82		77		13
Interest income from loans provided to JD Technology		31		253		301
Interest income from loans provided to Property Funds		49		39		43

(*)	Please refer to Note 23 for more details of strategic cooperation with Tencent Group.

evenues from related parties, excluding those from the major related parties as stated above, represented approximately 0.15%, 0.24% and 0.26% of total net revenues of the Group for the years ended December 31, 2020, 2021 and 2022, respectively. Transactions with related parties included in operating expenses, excluding those with the major related parties as stated above, represented 0.28%, 0.17% and 0.13% of total operating expenses of the Group for the years ended December 31, 2020, 2021 and 2022, respectively.

(b) The Group had the following balances with the major related parties:


	As of December 31,
	2021			2022

	(RMB in millions)

Due from Tencent Group		1,956			—
Due from JD Technology
Loans provided to JD Technology (*)		2,876			3,378
Other payables to JD Technology		(416	)		(637	)
Due from Property Funds
Loans provided to Property Funds (*)		769			1,746
Other receivables from Property Funds		87			1,068
Due from ATRenew Group		—			22

Total		5,272			5,577

Due to Dada Group		(337	)		—
Due to ATRenew Group		(45	)		—

Total		(382	)		—

Deferred revenues in relation to traffic support, marketing and promotion services to be provided to Dada Group		(83	)		—
Deferred revenues in relation to traffic support, marketing and promotion services to be provided to ATRenew Group		(1,038	)		(610	)

Total		(1,121	)		(610	)

Other liabilities in relation to non-compete obligation to Dada Group		(101	)		—

Total		(101	)		—

(*)	In relation to the loans provided to JD Technology and Property Funds, the Group charged JD Technology and Property Funds based on fair market interest rate, and cash flows resulted from the loans were presented within investing activities in the consolidated statements of cash flows.

As of December 31, 2021 and 2022, the Group recorded amount due from related parties other than the major related parties as stated above of RMB492 million and RMB565 million, which represented approximately 2.11% and 1.58% of the Group’s total accounts receivable, net and prepayments and other current assets, respectively. As of December 31, 2021 and 2022, the Group recorded amount due to related parties other than the major related parties and deferred revenues in relation to traffic support, marketing and promotion services to be provided to related parties other than the major related parties as stated above of RMB137 million and RMB488 million, which represented approximately 0.07% and 0.20% of the Group’s total accounts payable, advance from customers, accrued expenses and other current liabilities, deferred revenues and other

non-current

liabilities, respectively.

Based on a series of agreements signed on January 1, 2016, JD Technology will perform the credit risk assessment and other related services in relation to consumer financing business and obtain the rewards from such services, thus JD Technology will purchase the consumer financing receivables past due over certain agreed period of time from the Group at carrying values without recourse and also agree to bear other cost in direct relation to the consumer financing business to absorb the risks. In connection with the agreements, the total amount of

over-due

consumer financing receivable related to the consumer financing business transferred from the Group to JD Technology were RMB493 million, RMB77 million and RMB237 million for the years ended December 31, 2020, 2021 and 2022, respectively. In connection with the consumer financing business, JD Technology charged the Group RMB1,721 million, RMB1,985 million and RMB1,627 million, for the years ended December 31, 2020, 2021 and 2022 for payment processing services provided to the Group, respectively, which are included in “payment processing and other services received from JD Technology” stated above.

The Group transferred certain financial assets to JD Technology with or without recourse at fair value. The accounts receivable transferred without recourse were RMB33,406 million, RMB43,299 million and RMB50,282 million for the years ended December 31, 2020, 2021 and 2022, respectively, and were derecognized.

In 2022, the Group also transferred to JD Technology certain equipment amounted to RMB1,462 million.

Mr. Richard Qiangdong Liu, the Group’s Chairman of the board since the Group’s inception and the Chief Executive Officer since the Group’s inception to April 2022, has purchased his own aircraft for both business and personal use. The use of the aircraft in connection with the performance of his duty as employee is free of charge to the Group, and the Group has agreed to assume the cost of maintenance, crew and operations of the aircraft relating to the use of the aircraft. Such maintenance and incidental costs were insignificant for all periods presented.

The terms of the agreements with the related parties are determined based on contracted prices negotiated with other parties in normal commercial terms.

Segment reporting

12 Months Ended

Dec. 31, 2022

Segment reporting

Segment reporting

30.	Segment reporting

The Group derives the results of the segments directly from its internal management reporting system. The CODM measures the performance of each segment based on metrics of revenues and earnings from operations and uses these results to evaluate the performance of, and to allocate resources to, each of the segments. The Group currently does not allocate assets, share-based compensation expenses and certain operating expenses to its

segments, as the CODM does not use such information to allocate resources to or evaluate the performance of the operating segments. As most of the Group’s long-lived assets are located in the PRC and most of the Group’s revenues are derived from the PRC, no

geographical information is presented.

As disclosed in Note 2(mm), beginning with the first quarter of 2021, the Group implemented certain segment reporting changes to better reflect its optimized organizational structure and business developments. As a result, the Group reported three segments, JD Retail, JD Logistics and New Businesses in 2021. JD Cloud & AI businesses were deconsolidated from the Company from March 31, 2021, thus the operating results of JD Cloud & AI businesses were not included in New Businesses segment from the second quarter of 2021. The Group consolidated Dada since February 28, 2022 and reported the results of Dada as a new standalone segment. The Group also consolidated CNLP through JD Property since March 1, 2022 and reported the results of CNLP in the New Businesses segment. In addition, the Group has consolidated Deppon Holdco except the Excluded Business as defined in Note 7 since July 26, 2022 and reported the results of Deppon Holdco except Excluded Business as defined in Note 7 in the JD Logistics segment. As a result, the Group reported four segments, JD Retail, JD Logistics, Dada and New Businesses since 2022.

The table below provides a summary of the Group’s operating segment results for the years ended December 31, 2020, 2021 and 2022, with prior periods’ segment information retrospectively recast to conform to current period presentatio


	For the year ended December 31,
	2020			2021			2022

	(RMB in millions)
Net revenues:
JD Retail		693,965			866,303			929,929
JD Logistics		73,375			104,693			137,402
Dada		—			—			8,030
New Businesses		17,601			26,063			21,779
Inter-segment(*)		(39,945	)		(46,043	)		(50,904	)

Total segment net revenues		744,996			951,016			1,046,236
Unallocated items		806			576			—

Total consolidated net revenues		745,802			951,592			1,046,236

Operating income/(loss):
JD Retail		20,611			26,613			34,852
JD Logistics		1,098			(1,827	)		528
Dada		—			—			(1,122	)
New Businesses		(4,723	)		(10,600	)		(5,295	)
Including: gain on sale of development properties (Note 19)		1,649			767			1,379

Total segment operating income		16,986			14,186			28,963
Unallocated items(**)		(4,643	)		(10,045	)		(9,240	)

Total consolidated operating income		12,343			4,141			19,723
Total other income/(expense)		38,476			(6,721	)		(5,856	)

Income/(loss) before tax		50,819			(2,580	)		13,867

(*)	The inter-segment eliminations mainly consist of revenues from supply chain solutions and logistics services provided by JD Logistics to JD Retail, and property leasing services provided by JD Property to JD Logistics.

(**)	A summary of unallocated items for the years presented is as follows:


	For the year ended December 31,
	2020			2021			2022

	(RMB in millions)

Share-based compensation		(4,156	)		(9,134	)		(7,548	)
Amortization of intangible assets resulting from assets and business acquisitions		(723	)		(940	)		(1,217	)
Effects of business cooperation arrangements		236			29			(475	)

Total		(4,643	)		(10,045	)		(9,240	)

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI https://asc.fasb.org/topic&trid=2134510

Defined Contribution Pension And Other Postretirements Plan Disclosure [Abstract]

Employee benefit

12 Months Ended

Dec. 31, 2022

Employee benefit

31.	Employee benefit

Full time employees of the Group in the PRC participate in a government mandated defined contribution plan, pursuant to which certain pension benefits, medical care, employee housing fund and other welfare benefits are provided to the employees. Chinese labor regulations require that the PRC subsidiaries and consolidated VIEs of the Group make contributions to the government for these benefits based on certain percentages of the employees’ salaries, up to a maximum amount specified by the local government. The Group has no legal obligation for the benefits beyond the contributions made. The total amounts for such employee benefit expenses, which were expensed as incurred, were approximately RMB4,580 million, RMB7,894 million and RMB7,627 million for the years ended December 31, 2020, 2021 and 2022, respectively. Employee benefit expenses for the year ended December 31, 2020 was partially offset by the

one-off

benefit of the social security relief.

Loan facilities and lines of credit

12 Months Ended

Dec. 31, 2022

Lines of credit and loan facilities

Loan facilities and lines of credit

32.	Loan facilities and lines of credit

As of December 31, 2022, the Group’s loan facilities were classified into different types as follows:


	As of December 31, 2022
	(RMB in millions)
Unsecured senior notes (Note 17)		10,224
Unsecured borrowings (*)		24,327
Secured borrowings (**)		7,828

Total		42,379

(*)	As of December 31, 2022, the un secured borrowings mainly consisted of borrowings without collaterals under loan facility agreements and borrowed from wel l-known financial institutions. The major unsecured borrowings are listed as below.

In October 2021, the

Group entered into a

one-year

HK$

15,931

illion term loan facility agreement with

lead arrangers. The term loans under this facility were priced at

basis points over Hong Kong Interbank Offered Rate (“HIBOR”) on and from th

e date of first loan made or to be made (“Initial Utilization Date”) to and including the date falling 6 months from the Initial Utilization Date, and thereafter at

basis points over HIBOR. In February

and

May 2022, the Group drew down HK$

6,300

million

and HK$

2,741

million under the facility commitment, respectively. As of December

31, 2022, the borrowings above were recorded in short-term debts in the consolidated balance sheets and the undrawn balance was HK$

6,890

million under this agreement.

The borrowings wer

e fully repaid in February 2023. The Group entered into another one-year HK$9,041

illion term loan facility agreement to refinance the loan and drew down all the facility in February 2023.

In December 2021, the Group entered into a 5-year US$2,000 million unsecured term and revolving loan facility with 5 lead arrangers. The term and revolving loans under this facility were priced at 85 basis points over London Interbank Offered Rate, which was amended to the secured overnight financing rate (“SOFR”) in September 2022. In April 2022, the Group drew down US$1,000 million under the facility commitment, which will be due in 2027. As of December 31, 2022, RMB6,965 million of the borrowings above were recorded in long-term borrowings in the consolidated balance sheets and the undrawn balance was US$1,000 million under the credit facilities agreement.

In December

2022, the Group entered into a seven-year RMB3,000 million term loan facility agreement. The term loans under this facility were priced at 145

basis points below Loan Prime Rate (“LPR”). In December 2022, the Group drew down

RMB2,000 million under the facility commitment. As of December 31, 2022, RMB10

million was recorded in short-term debts and

RMB1,990

million borrowings

were recorded in long-term borrowings in the consolidated balance sheets.

The undrawn balance was

RMB1,000

million under this agreement.

As of December 31, 2022, in addition to the above unsecured borrowings, RMB3,185 million and RMB4,101 million borrowings recorded in short-term debts and long-term borrowings, respectively, were without collaterals and borrowed from well-known financial institutions.

(**)

As of December 31, 2022, RMB875 million and RMB6,953 million borrowings, were recorded in short-term debts and long-term borrowings, respectively, with collaterals of RMB19,765 million which mainly comprised of buildings, land use rights and certain subsidiary’s equity interests which is measured at fair value.

As of December 31, 2022, the long-term borrowings, including the portion due within one year which were recoded in “short-term debts”, will be repaid according to the following schedule:


	As of December 31, 2022
	(RMB in millions)
2023		885
2024		1,367
2025		3,360
2026		2,109
2027		7,619
2028 and thereafter		5,554

		20,894

As of December 31, 2022, the Group had agreements with reputable commercial banks for unsecured revolving lines of credit, and increased its revolving lines of credit to RMB

131,367

million. The Group was in compliance with the financial covenants, if any, under those lines of credit as of December 31, 2022. As of December 31, 2022, under the lines of credit, the Group mainly had RMB

30,391

million reserved for the issuance of bank acceptance and RMB

2,331

million reserved for the bank guarantee.

Commitments and contingencies

12 Months Ended

Dec. 31, 2022

Commitments and contingencies

Commitments and contingencies

33.	Commitments and contingencies

Commitments for internet data center (IDC) service fee

The Group entered into

non-cancelable

IDC service agreements. The related expenses were RMB

2,864

million, RMB

2,236

million and RMB

3,661

million for the years ended December 31, 2020, 2021 and 2022, respectively,

and

were charged to the consolidated statements of operations and comprehensive income/(loss) when incurred.

Future minimum payments under these

non-cancelable

agreements with initial terms of one year or more consist of the following:


	As of December 31, 2022
	(RMB in millions)
2023		824
2024		784
2025		357
2026		330
2027		328
2028 and thereafter		1,708

		4,331

Capital commitments

The Group’s capital commitments primarily relate to commitments on construction and purchase of office building and warehouses. Total capital commitments contracted but not yet reflected in the consolidated financial statements amounted to RMB

10,744

million as of December

2022

. All of these capital commitments will be fulfilled in the following years according to the construction progress.

Investment commitments

The Group’s investment commitments primarily related to capital contribution obligation for certain fund investments. Total investment commitments contracted but not yet reflected in the consolidated financial statements amounted to RMB2,449 million as of December 31, 2022.

Long-term debt obligations

The Group’s long-term debt obligations include unsecured senior notes and long-term borrowings. The amounts exclude the corresponding interest payable. The expected repayment schedule of the unsecured senior notes and long-term borrowings have been disclosed in Note 17 and Note 32, respectively.

Legal proceedings

From time to time, the Group is subject to legal proceedings and claims in the ordinary course of business. Third parties assert patent infringement claims against the Group from time to time in the form of letters, lawsuits and other forms of communication. In addition, from time to time, the Group receives notification from customers claiming that they are entitled to indemnification or other obligations from the Group related to infringement claims made against them by third parties. Litigation, even if the Group is ultimately successful, can be costly and divert management’s attention away from the

day-to-day

operations of the Group. The Group records a liability when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. The Group reviews the need for any such liability on a regular basis. The Group has not recorded any material

liabilities in this regard as of December 31, 2022.

Purchase commitments

The Group’s purchase commitments primarily relate to purchase of products. Total purchase commitments contracted but not yet reflected in the consolidated financial statements as of December

2022

represented less than

% of total net revenues of the Group for the year ended December

2022

Restricted net assets

12 Months Ended

Dec. 31, 2022

Restricted net assets

Restricted net assets

34.	Restricted net assets

The Company’s

ility to pay dividends is primarily dependent on the Company receiving distributions of funds from its subsidiaries. Relevant PRC statutory laws and regula

tions permit payments of dividends by the Company’s subsidiaries and consolidated VIEs incorporated in the PRC only out of their retained earnings, if any, as determined in accordance with the PRC accounting standards and regulations. The results of operations reflected in the financial statements prepared in accordance with U.S. GAAP differ from those reflected in the statutory financial statements of the Company’s subsidiaries.

In accordance with the PRC Regulations on Enterprises with Foreign Investment, a foreign invested enterprise established in the PRC is required to provide certain statutory reserve funds, namely general reserve fund, the enterprise expansion fund and staff welfare and bonus fund which are appropriated from net profits as reported in the enterprise’s PRC statutory financial statements. A foreign invested enterprise is required to allocate at least 10% of its annual

after-tax

profits to the general reserve fund until such reserve fund has reached 50% of its registered capital based on the enterprise’s PRC statutory financial statements. Appropriations to the enterprise expansion fund and staff welfare and bonus fund are at the discretion of the board of directors for all foreign invested enterprises. The aforementioned reserved funds can only be used for specific purposes and are not distributable as cash dividends.

Additionally, in accordance with the Company Law of the PRC, a domestic enterprise is required to provide statutory surplus fund at least 10% of its annual

after-tax

profits until such statutory surplus fund has reached 50% of its registered capital based on the enterprise’s PRC statutory financial statements. A domestic enterprise is also required to provide discretionary surplus fund, at the discretion of the board of directors, from the net profits reported in the enterprise’s PRC statutory financial statements. The aforementioned reserve funds can only be used for specific purposes and are not distributable as cash dividends.

As a result of these PRC laws and regulations that require annual appropriations of 10% of net

after-tax

profits to be set aside prior to payment of dividends as general reserve fund or statutory surplus fund, the Company’s PRC subsidiaries and consolidated VIEs are restricted in their ability to transfer a portion of their net assets to the Company.

Amounts restricted include

paid-in

capital, additional

paid-in

capital and statutory reserve funds, as determined pursuant to the PRC GAAP, totaling approximately RMB58,228 million, or 27% of the Company’s total consolidated net assets, as of December 31, 2022. Except for the above, there is no other restriction on the use of proceeds generated by the Company’s subsidiaries and consolidated VIEs to satisfy any obligations of the Company.

Subsequent events

12 Months Ended

Dec. 31, 2022

Subsequent events

Subsequent events

35.	Subsequent events

Listing of Real Estate Investment Trust

The warehousing real estate investment trust (“REIT”), jointly established by the Company, JD Property and Harvest Fund, became the first of its kind in the private sector in China that received formal approval from China’s Securities Regulatory Commission in December 2022 and was listed on the Shanghai Stock Exchange in February 2023. The listing raised over RMB

1.7

billion.

Dividends

On March 8, 2023, the Board of Directors of the Company approved a cash dividend of US$

0.31 per ordinary share, or US$0.62 per ADS, to holders of ordinary shares and holders of ADSs, respectively, as of the close of business on April 6, 2023, payable in U.S. dollars. The aggregate amount of the dividend will be approximately US$1.0 billion. The payment date is expected to be on or around April 27, 2023 and on or around May 4, 2023 for holders of ordinary shares and holders of ADSs, respectively.

In addition, the Company plans to adopt an annual dividend policy, under which the Company may choose to declare and distribute a cash dividend each year, starting from 2023, at an amount determined in relation to the Company’s financial performance in the previous fiscal year, among other factors. The determination to make dividend distributions in any particular year will be made at the discretion of the Board of Directors based upon factors such as the Company’s results of operations, cash flow, financial condition, capital requirements and other considerations that the Board of Directors deems relevant.

JD Industrials’ Series B Transaction

In March 2023, JD Industrials entered into definitive transaction agreements in connection with its series B preference shares with a group of investors. The total cash proceeds were approximately

US$210

million. The Group remained the majority shareholder of JD Industrials after the completion of the transactions.

JD Property applied for HKEX listing

On March 30, 2023, JD Property, through its joint sponsors, submitted a listing application form to the HKEX to apply for the listing of, and permission to deal in, the shares of JD Property on the Main Board of the HKEX. The Group will remain the majority shareholder of JD Property after the listing. There is no assurance as to whether or when the proposed listing may take place.

JD Industrials applied for HKEX listing

On March 30, 2023, JD Industrials, through its joint sponsors, submitted a listing application form to the HKEX to apply for the listing of, and permission to deal in, the shares of JD Industrials on the Main Board of the HKEX. The Group will remain the majority shareholder of JD Industrials after the listing. There is no assurance as to whether or when the proposed listing may take place.

Share Repurchase Program

Under the 2020 share repurchase program, as of the date of this report, the Company had repurchased 20,255,890 ADSs for approximately US$1,290 million, including 3,839,490 ADSs for approximately US$153 million during the period from January 1, 2023 to the date of this report.

Parent company only condensed financial information

12 Months Ended

Dec. 31, 2022

Parent company only condensed financial information

Parent company only condensed financial information

36.	Parent company only condensed financial information

The Company performed a test on the restricted net assets of the consolidated subsidiaries and VIEs in accordance with Rule 5-04 (c) of Regulation S-X, and concluded that it was applicable for the Company to disclose the financial information for the parent company only.

As of December 31, 2022, the Company did not have significant capital commitments and other significant commitments, or guarantees, except for those which have been separately disclosed in the consolidated financial statements.

Condensed Balance Sheets


	As of December 31,
	2021			2022
	RMB			RMB			US$ Note 2(g)
	(in millions, except share and per share data)

ASSETS
Cash and cash equivalents		7,417			5,029			729
Short-term investments		1			—			—
Internal balance		65,120			63,708			9,237
Investments in subsidiaries and consolidated VIEs		148,607			162,015			23,491
Prepayments and other assets		419			308			44

Total assets		221,564			231,060			33,501

LIABILITIES
Short-term debts		2,869			—			—
Unsecured senior notes		9,461			10,347			1,499
Long-term borrowings		—			6,965			1,010
Accrued expenses and other liabilities		323			382			56

Total liabilities		12,653			17,694			2,565

SHAREHOLDERS’ EQUITY:
Ordinary shares (US$0.00002 par value; 100,000,000,000 shares authorized; 2,731,123,330 Class A ordinary shares issued and 2,690,342,230 outstanding, 428,185,501 Class B ordinary shares issued and 420,449,419 outstanding as of December 31, 2021; 2,793,298,344 Class A ordinary shares issued and 2,756,458,772 outstanding, 386,374,723 Class B ordinary shares issued and 379,220,475 outstanding as of December 31, 2022.)		—	*		—	*		—	*
Additional paid-in capital		182,578			184,041			26,683
Statutory reserves		1,586			3,473			504
Treasury stock		(2,968	)		(2,493	)		(361	)
Retained earnings		33,805			29,304			4,249
Accumulated other comprehensive loss		(6,090	)		(959	)		(139	)

Total shareholders’ equity		208,911			213,366			30,936

Total liabilities and shareholders’ equity		221,564			231,060			33,501

*	Absolute value is less than RMB1 million.

Condensed Statements of Operations and Comprehensive Income/(Loss)


	For the year ended December 31,
	2020			2021			2022
	RMB			RMB			RMB			US$
										Note 2(g)
	(in millions, except share and per share data)
Operating expenses
Marketing		(11	)		(4	)		(2	)		—
General and administrative		(453	)		(465	)		(331	)		(48	)

Loss from operations		(464	)		(469	)		(333	)		(48	)

Other income/(expense)
Income/(loss) from subsidiaries and consolidated VIEs		50,154			(2,708	)		10,667			1,548
Other income/(expense), net		(266	)		(376	)		48			7

Income/(loss) before tax		49,424			(3,553	)		10,382			1,507
Income tax expenses		(19	)		(7	)		(2	)		—

Net income/(loss)		49,405			(3,560	)		10,380			1,507

Net income/(loss) attributable to ordinary shareholders		49,405			(3,560	)		10,380			1,507

Net income/(loss)
Other comprehensive income/(loss):
Foreign currency translation adjustments		(7,656	)		(2,542	)		5,131			744
Net change in unrealized gains/(losses) on available-for-sale securities:
Unrealized gains, net of tax		705			—			—			—
Reclassification adjustment for gains recorded in net income, net of tax		(760	)		—			—			—

Net unrealized losses on available-for-sale securities		(55	)		—			—			—

Total other comprehensive income/(loss)		(7,711	)		(2,542	)		5,131			744

Total comprehensive income/(loss)		41,694			(6,102	)		15,511			2,251

Condensed Statements of Cash Flows


	For the year ended December 31,
	2020			2021			2022
	RMB			RMB			RMB			US$
										Note 2(g)
	(in millions)
Net cash used in operating activities		(243	)		(411	)		(509	)		(74	)
Cash flows from investing activities:
Purchase of short-term investments		(3,421	)		(3,189	)		—			—
Maturity of short-term investments		—			6,546			1			—
Loans (provided to)/settled by internal companies		(13,421	)		(20,900	)		7,426			1,077
Other investing activities		40			3,147			—			—

Net cash provided by/(used in) investing activities		(16,802	)		(14,396	)		7,427			1,077

Cash flows from financing activities:
Proceeds from issuance of ordinary shares		31,342			—			—			—
Repurchase of ordinary shares		—			—			(1,823	)		(264	)
Cash paid for dividends		—			—			(13,087	)		(1,897	)
Proceeds from short-term borrowings		—			—			3,945			572
Repayment of short-term borrowings		—			—			(7,005	)		(1,016	)
Proceeds from long-term borrowings		—			—			6,618			960
Proceeds from unsecured senior notes		6,804			—			—			—
Repayment of unsecured senior notes		—			(3,246	)		—			—
Other financing activities		236			62			1,043			151

Net cash provided by/(used in) financing activities		38,382			(3,184	)		(10,309	)		(1,494	)

Effect of exchange rate changes on cash, cash equivalents, and restricted cash		(2,369	)		(136	)		1,003			145

Net increase/(decrease) in cash, cash equivalents, and restricted cash		18,968			(18,127	)		(2,388	)		(346	)
Cash, cash equivalents, and restricted cash at beginning of year		6,576			25,544			7,417			1,075

Cash, cash equivalents, and restricted cash at end of year		25,544			7,417			5,029			729

Basis of presentation

The Company’s accounting policies are the same as the Group’s accounting policies with the exception of the accounting for the investments in subsidiaries and consolidated VIEs.

For the parent company only condensed financial information, the Company records its investments in subsidiaries and consolidated VIEs under the equity method of accounting as prescribed in ASC 323. Such investments are presented in the condensed balance sheets as “Investments in subsidiaries and consolidated VIEs” and shares in the subsidiaries and consolidated VIEs’ financial results are presented as “Income/(loss) from subsidiaries and consolidated VIEs” in the condensed statements of operations and comprehensive income/(loss). The parent company only condensed financial information should be read in conjunction with the Group’ consolidated financial statements.

Summary of significant accounting policies (Policies)

12 Months Ended

Dec. 31, 2022

Summary of significant accounting policies

Basis of presentation

a. Basis of presentation

Principles of consolidation

b. Principles of consolidation

All transactions and balances among the Company, its subsidiaries and the consolidated VIEs have been eliminated upon consolidation.

Reclassifications

c. Reclassifications

Non-controlling interests

Non-controlling

interests

For the Company’s consolidated subsidiaries and VIEs,

non-controlling

interests are recognized to reflect the portion of their equity that is not attributable, directly or indirectly, to the Company as the controlling shareholder.

Non-controlling

Use of estimates

e. Use of estimates

In March 2020, the World Health Organization declared the outbreak of a disease caused by a novel strain of the coronavirus

(“COVID-19”)

to be a pandemic. After the initial outbreak of the

COVID-19,

some instances of

COVID-19

pandemic, certain estimates and assumptions may change in the near term.

Foreign currency translation

f. Foreign currency translation

Foreign Currency Matters

Convenience translation

g. Convenience translation

Cash and cash equivalents

h. Cash and cash equivalents

Cash and cash equivalents consist of cash on hand, money market fund investments, time deposits and highly liquid investments which have original maturities of three months or less.

Restricted cash

i. Restricted cash

Short-term investments

j. Short-term investments

Short-term investments mainly include wealth management products, which are certain deposits with variable interest rates or principal

not-guaranteed

Financial Instruments

available-for-sale

debt securities and

held-to-maturity

securities.

Available-for-sale

In addition, short-term investments are also comprised of time deposits placed with banks with original maturities longer than three months but less than one year.

Accounts receivable, net

k. Accounts receivable, net

Accounts receivable mainly represent amounts due from customers and online payment channels and are recorded net of allowance for doubtful accounts.

Inventories, net

l. Inventories, net

Loan receivables, net

m. Loan receivables, net

non-current

Property, equipment and software, net

n. Property, equipment and software, net


Category		Estimated useful lives
Electronic equipment		3-5 years
Office equipment		5 years
Vehicles		3-6 years
Logistics, warehouse and other heavy equipment		5-10 years
Leasehold improvement		Over the shorter of the expected life of leasehold improvements or the lease term
Software		3-5 years
Land		Indefinite
Building		40 years
Building improvement		5-10 years

Construction in progress

o. Construction in progress

Land use rights, net

p. Land use rights, net

Intangible assets, net

q. Intangible assets, net

The estimated useful lives of major intangible assets are as follows:


Category		Estimated useful lives
Non-compete		5-8 years
Domain names and trademarks		5-20 years
Customer relationship		3-10 years
Technology and others		3-10 years

Goodwill

r. Goodwill

Goodwill represents the excess of the purchase price over the fair value of the identifiable assets and liabilities acquired in a business combination.

2017-04,

Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment

(“ASU

2017-04”)

COVID-19,

and making other assumptions. Changes in these estimates and assumptions could materially affect the determination of fair value for each reporting unit.

Investment in equity investees

s. Investment in equity investees

in-substance

common stock, according to ASC Topic 323,

Investment—Equity Method and Joint Ventures

(“ASC 323”), over which it has significant influence but does not own a majority equity interest or otherwise control.

An investment in

in-substance

Fair Value Measurements and Disclosures

(“ASC 820”) to estimate fair value using the net asset value per share (or its equivalent) of the investment (“NAV practical expedient”).

2016-01,

Financial Instruments—Overall (Subtopic

825-10)—Recognition

and Measurement of Financial Assets and Financial Liabilities

(“ASU

2016-01”).

2020-01,

Investments—Equity Securities (Topic 321), Investments—Equity Method and Joint Ventures (Topic 323).

Investment securities

t. Investment securities

2016-01.

Impairment of long-lived assets

u. Impairment of long-lived assets

Nonrecourse securitization debt and transfer of financial assets

v. Nonrecourse securitization debt and transfer of financial assets

The securitization vehicles are considered variable interest entities pursuant to ASC Topic 810,

Consolidation

de-recognized

in the consolidated balance sheets pursuant to ASC Topic 860,

Transfers and Servicing

860-10-40-5

Unsecured senior notes and long-term borrowings

w. Unsecured senior notes and long-term borrowings

Fair value

x. Fair value

Level 1—Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.

Level 2—Include other inputs that are directly or indirectly observable in the marketplace.

Level 3—Unobservable inputs which are supported by little or no market activity.

Revenue

y. Revenues

Consistent with the criteria of ASC Topic 606,

Revenue from Contracts with Customers

Net Product Revenues

Net Service Revenues

advertising-for-advertising

barter transactions for the periods presented.

Contract balances

z. Contract balances

Unearned revenues consist of payments received or awards to customers related to unsatisfied performance obligation at the end of the period, included in current and

non-current

Customer incentives and loyalty programs

aa. Customer incentives and loyalty programs

The Group provides two types of discounted coupons, referred to as D Coupons and J Coupons, for free to its customers to incentivize purchase.

•

Cost of revenues

bb. Cost of revenues

Rebates and subsidies

cc. Rebates and subsidies

Fulfillment

dd. Fulfillment

Marketing

ee. Marketing

Research and development

ff. Research and development

General and administrative

gg. General and administrative

Share-based compensation

hh. Share-based compensation

The Group grants restricted share units (“RSUs”) and share options of the Company and its subsidiaries to eligible employees and

non-employees.

The Group accounts for share-based awards issued to employees and

non-employees

in accordance with ASC Topic 718

Compensation—Stock Compensation

Employees’ share-based awards,

non-employees’

Forfeitures are estimated at the time of grant and revised in the subsequent periods if actual forfeitures differ from those estimates.

Income tax

ii. Income tax

more-likely-than-not

non-current

in the consolidated balance sheets.

Leases

jj. Leases

In accordance with ASC Topic 842,

Leases

Right-of-use

non-lease

components separately.

arm-length

rental price. Upon consideration of ASC Topic

842-40-25-1

Property, Plant and Equipment

. The leaseback transactions are accounted for under ASC 842, and the ROU assets and lease liabilities are recognized at commencement date accordingly.

Comprehensive income/(loss)

kk. Comprehensive income/(loss)

available-for-sale

debt securities and foreign currency translation adjustments.

Net income/(loss) per share

ll. Net income/(loss) per share

Segment reporting

mm. Segment reporting

three

four

on-demand

delivery and retail platform in China. New Businesses mainly include JD Property, Jingxi, overseas businesses and technology initiatives.

Recent accounting pronouncements

nn. Statutory reserves

The Company’s subsidiaries and consolidated VIEs established in the Chinese mainland are required to make appropriations to certain

non-distributable

reserve funds.

after-tax

In addition, in accordance with the PRC Company Laws, the Group’s consolidated VIEs, registered as Chinese domestic companies, must make appropriations from their

after-tax

profits as determined under the PRC GAAP to

non-distributable

reserve funds including statutory surplus fund and discretionary surplus fund. The appropriation to the statutory surplus fund must be 10% of the

after-tax

For the years ended December 31, 2020, 2021 and 2022, profit appropriation to statutory surplus fund for the Group’s entities incorporated in the Chinese mainland was approximately

RMB74 million, RMB53 million and RMB1,887 million, respectively. No appropriation to other reserve funds was made for any of the periods presented.

oo. Recent accounting pronouncements

Recently adopted accounting pronouncements

In August 2020, the FASB issued ASU

2020-06,

Debt—Debt with Conversion and Other Options (Subtopic

470-20)

and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic

815-40):

if-converted

In November 2021, the FASB issued ASU

2021-10,

Government Assistance (Topic 832): Disclosure by Business Entities about Government Assistance (ASU

2021-10),

Recently issued accounting pronouncements not yet adopted

In October 2021, the FASB issued ASU

2021-08,

In June 2022, the FASB issued ASU

2022-03,

2022-03

820-10-35-36B

Principal activities and organization (Tables)

12 Months Ended

Dec. 31, 2022

Principal activities and organization

Schedule of percentage of legal ownership in major subsidiaries, VIEs and VIEs' subsidiaries


	Equity interest held	Place and date of incorporation
Subsidiaries
Beijing Jingdong Century Trade Co., Ltd. (“Jingdong Century”)	100%	Beijing, China, April 2007
Jiangsu Jingdong Information Technology Co., Ltd.	100%	Jiangsu, China, June 2009
Shanghai Shengdayuan Information Technology Co., Ltd. (“Shanghai Shengdayuan”)	100%	Shanghai, China, April 2011
JD Logistics Holding Limited	64%	Hong Kong, China, August 2011
Jingdong Technology Group Corporation	100%	Cayman Islands, November 2011
JINGDONG Property, Inc.	77%	Cayman Islands, January 2012
JD Logistics, Inc.	64%	Cayman Islands, January 2012
JD.com E-Commerce (Technology) Hong Kong Co., Ltd.	100%	Hong Kong, China, February 2012
Jingdong E-Commerce (Trade) Hong Kong Co., Ltd.	100%	Hong Kong, China, February 2012
JD.com International Limited	100%	Hong Kong, China, February 2012
Beijing Jingdong Shangke Information Technology Co., Ltd. (“Beijing Shangke”)	100%	Beijing, China, March 2012
Chongqing Jingdong Haijia E-commerce Co., Ltd. (“Chongqing Haijia”)	100%	Chongqing, China, June 2014
JD.com Overseas Innovation Limited	100%	Hong Kong, China, October 2014
JD.com Investment Limited	100%	British Virgin Islands, January 2015
JD Asia Development Limited	77%	British Virgin Islands, February 2015
Suqian Hanbang Investment Management Co., Ltd.	100%	Jiangsu, China, January 2016
Xi’an Jingxundi Supply Chain Technology Co., Ltd. (“Xi’an Jingxundi”)	64%	Shaanxi, China, May 2017
JD Assets Holding Limited	100%	Cayman Islands, March 2018
JD Property Holding Limited	100%	Cayman Islands, March 2018
Beijing Wodong Tianjun Information Technology Co., Ltd. (“Beijing Wodong Tianjun”)	100%	Beijing, China, May 2018
JD Health International Inc.	68%	Cayman Islands, November 2018
JD Jiankang Limited	100%	British Virgin Islands, April 2019
JD Industrial Technology Limited	100%	British Virgin Islands, October 2019
JINGDONG Industrials, Inc.	81%	Cayman Islands, November 2019
Jingdong Logistics Supply Chain Co., Ltd.	64%	Jiangsu, China, June 2020
Jiangsu Huiji Space Technology Co., Ltd. (“Jiangsu Huiji”)	100%	Jiangsu, China, March 2019
JD Sunflower Investment Limited	100%	British Virgin Islands, February 2016
Windcreek Limited	100%	British Virgin Islands, January 2016
Dada Nexus Limited (“Dada”)	53%	Cayman Islands, July 2014

Consolidated VIEs
Beijing Jingdong 360 Degree E-commerce Co., Ltd. (“Jingdong 360”)		Beijing, China, April 2007
Jiangsu Yuanzhou E-commerce Co., Ltd. (“Jiangsu Yuanzhou”)		Jiangsu, China, September 2010
Jiangsu Jingdong Bangneng Investment Management Co., Ltd. (“Jingdong Bangneng”)		Jiangsu, China, August 2015
Xi’an Jingdong Xincheng Information Technology Co., Ltd. (“Xi’an Jingdong Xincheng”)		Shaanxi, China, June 2017
Suqian Juhe Digital Enterprise Management Co., Ltd. (“Suqian Juhe”)		Jiangsu, China, June 2020

Consolidated VIEs’ Subsidiaries
Beijing Jingbangda Trade Co., Ltd. (“Beijing Jingbangda”)		Beijing, China, August 2012
Beijing Jingdong Qianshi Technology Co., Ltd.		Beijing, China, September 2018

Schedule of consolidated financial information


	As of December 31,
	2021		2022

	(RMB in millions)
Total assets		80,138		78,162
Total liabilities		77,858		74,553


	For the year ended December 31,
	2020			2021			2022

	(RMB in millions)
Total net revenues		86,054			117,419			134,516
Net income/(loss)		(422	)		(3,069	)		1,137


	For the year ended December 31,
	2020			2021			2022

	(RMB in millions)
Net cash provided by operating activities		9,912			1,593			5,434
Net cash used in investing activities		(11,053	)		(10,089	)		(4,498	)
Net cash provided by/(used in) financing activities		2,659			11,611			(1,306	)

Net increase/(decrease) in cash, cash equivalents, and restricted cash		1,518			3,115			(370)
Cash, cash equivalents, and restricted cash at beginning of year		927			2,445			5,560

Cash, cash equivalents, and restricted cash at end of year		2,445			5,560			5,190

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

Summary of significant accounting policies

Summary of significant accounting policies (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of estimated useful lives of property, equipment and software


Category		Estimated useful lives
Electronic equipment		3-5 years
Office equipment		5 years
Vehicles		3-6 years
Logistics, warehouse and other heavy equipment		5-10 years
Leasehold improvement		Over the shorter of the expected life of leasehold improvements or the lease term
Software		3-5 years
Land		Indefinite
Building		40 years
Building improvement		5-10 years

Schedule of estimated useful lives of intangible assets

The estimated useful lives of major intangible assets are as follows:


Category		Estimated useful lives
Non-compete		5-8 years
Domain names and trademarks		5-20 years
Customer relationship		3-10 years
Technology and others		3-10 years

Fair value measurement (Tables)

12 Months Ended

Dec. 31, 2022

Fair value measurement

Schedule of assets and liabilities that are measured at fair value on a recurring basis


			Fair value measurement at reporting date using
Description	Fair Value as of December 31, 2021		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)

	(RMB in millions)
Assets:
Restricted cash		5,926		—		5,926		—
Short-term investments
Wealth management products		77,010		—		77,010		—
Investment securities
Listed equity securities		19,088		19,088		—		—

Total assets		102,024		19,088		82,936		—


			Fair value measurement at reporting date using
Description	Fair Value as of December 31, 2022		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)

	(RMB in millions)
Assets:
Restricted cash		6,254		—		6,254		—
Short-term investments
Wealth management products		71,496		—		71,496		—
Investment securities
Listed equity securities		11,611		11,611		—		—
Other non-current assets
Wealth management products		2,649		—		2,649		—

Total assets		92,010		11,611		80,399		—

Business acquisition (Tables)

12 Months Ended

Dec. 31, 2022

Dada Acquisition [Member]

Business Acquisition [Line Items]

Summary of purchase price as of the date of acquisition

The purchase price as of the date of acquisition is comprised of:


	Amounts
	(RMB in millions)

Cash		3,452
Business cooperation agreement as consideration of the acquisition		1,606
Fair value of previously held equity interests		5,702

Total		10,760

Schedule of allocation of the purchase price as of the date of acquisition


	Amounts
	(RMB in millions)

Net assets acquired		7,549
Newly identified and appreciation of intangible assets
- Trademarks and domain names		805
- Technology		525
- Relationship with riders		640
- Consumer base		120
Premium not reflected in goodwill		3,623
Goodwill		4,542
Deferred tax liabilities		(522	)
Non-controlling interests		(6,522	)

Total		10,760

CNLP [Member]

Business Acquisition [Line Items]

Summary of purchase price as of the date of acquisition

The purchase price as of the date of acquisition is comprised of:


	Amounts
	(RMB in millions)
Cash		10,538
Fair value of previously held equity interests		1,293

Total		11,831

Schedule of allocation of the purchase price as of the date of acquisition


	Amounts
	(RMB in millions)

Net assets acquired		4,309
Appreciation of property, equipment and software, construction in progress and land use right s		10,908
Goodwill		1,586
Deferred tax liabilities		(2,679	)
Non-controlling interests		(2,293	)

Total		11,831

Deppon Holdco [Member]

Business Acquisition [Line Items]

Summary of purchase price as of the date of acquisition

The purchase price as of the date of acquisition is comprised of:


	Amounts
	(RMB in millions)
Cash		8,976

Schedule of allocation of the purchase price as of the date of acquisition


	Amounts
	(RMB in millions)
Net assets acquired		6,570
Newly identified and appreciation of intangible assets
- Trademarks and domain names		1,661
- Technology		676
- Customer relationships		8
Appreciation of construction in progress and land use rights		15
Goodwill		5,350
Deferred tax liabilities		(590	)
Non-controlling interests		(4,714	)

Total		8,976

Investment in equity investees (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of condensed financial information of the Group's equity investments


	For the year ended December 31,
	2020		2021			2022
	(RMB in millions)
Revenues		140,263		145,582			160,554
Gross profit		45,590		39,736			47,369
Income/(loss) from operations		5,157		1,877			(2,158	)
Net income/(loss)		2,680		(250	)		(1,583	)
Net income/(loss) attributable to ordinary shareholders		3,292		675			(1,327	)


	As of December 31,
	2021		2022

	(RMB in millions)
Current assets		150,304		149,946
Non-current assets		140,872		142,288
Current liabilities		109,790		116,158
Non-current liabilities		49,919		54,494
Non-controlling interests		973		623

Yonghui Group

Schedule of investment accounted for using equity method

Investment in Yonghui is accounted for using the equity method with the investment cost allocated as follows:


	As of December 31,
	2021			2022

	(RMB in millions)
Carrying value of investment in Yonghui’s ordinary shares		4,592			4,056
Proportionate share of Yonghui’s net tangible and intangible assets		2,225			1,768

Positive basis difference		2,367			2,288

Positive basis difference has been assigned to:
Goodwill (*)		1,111			1,111
Amortizable intangible assets (**)		1,674			1,569
Deferred tax liabilities		(418	)		(392	)

		2,367			2,288

(*)

(**)	As of December 31, 2022, the weighted average remaining life of the amortizable intangible assets not included in Yonghui’s consolidated financial statements was 13 years.

Dada Group

Schedule of investment accounted for using equity method


	As of December 31, 2021
	(RMB in millions)
Carrying value of investment in Dada’s ordinary shares		6,075
Proportionate share of Dada’s net tangible and intangible assets		2,136

Positive basis difference		3,939

Positive basis difference has been assigned to:
Goodwill		3,893
Amortizable intangible assets		61
Deferred tax liabilities		(15	)

		3,939

ATRenew

Schedule of investment accounted for using equity method

The investment in ATRenew is accounted for using the equity method with the investment cost allocated as follows:


	As of December 31,
	2021			2022

	(RMB in millions)

Carrying value of investment in ATRenew’s ordinary shares		2,832			1,449
Proportionate share of ATRenew’s net tangible and intangible assets		2,209			2,080

Positive/(negative) basis difference		623			(631	)

Positive/(negative) basis difference has been assigned to:
Goodwill (*)		35			—
Amortizable intangible assets (**)		784			(450	)
Deferred tax liabilities		(196	)		(181	)

		623			(631	)

(*)

(**)	As of December 31, 2022, the negative basis difference between carrying value of investment in ATRenew and proportionate share of ATRenew’s net tangible and intangible assets was RMB631 million. This difference would not be amortized.

Accounts receivable, net (Tables)

12 Months Ended

Dec. 31, 2022

Accounts receivable, net

Schedule of accounts receivable, net


	As of December 31,
	2021			2022

	(RMB in millions)
Logistics receivables		6,204			11,063
Online retail and online marketplace receivables (*)		5,840			9,982
Advertising receivables and others		890			1,113

Accounts receivable		12,934			22,158
Allowance for doubtful accounts		(1,034	)		(1,582	)

Accounts receivable, net		11,900			20,576

Schedule of movements in the allowances for doubtful accounts


	For the year ended December 31,
	2020			2021			2022

	(RMB in millions)
Balance at beginning of the year		(318	)		(566	)		(1,034	)
Additions		(331	)		(535	)		(615	)
Write-off		83			67			67

Balance at end of the year		(566	)		(1,034	)		(1,582	)

(*)

over-due

receivables from the Group at carrying values to absorb the risks and obtain the rewards from such business, no allowance for doubtful accounts in relation to consumer financing receivables w

provided.

Inventories, net (Tables)

12 Months Ended

Dec. 31, 2022

Inventories, net

Schedule of Inventories, net


	As of December 31,
	2021			2022

	(RMB in millions)
Products		77,422			80,966
Packing materials and others		478			1,098

Inventories		77,900			82,064
Inventory valuation allowance		(2,299	)		(4,115	)

Inventories, net		75,601			77,949

Property, equipment and software, net (Tables)

12 Months Ended

Dec. 31, 2022

Property, equipment and software, net

Schedule of property, equipment and software, net


	As of December 31,
	2021			2022

	(RMB in millions)
Electronic equipment		11,222			2,663
Land, building and building improvement		21,072			40,642
Logistics, warehouse and other heavy equipment		10,084			14,097
Vehicles		2,681			5,743
Leasehold improvement		3,766			4,550
Office equipment		530			640
Software		867			1,033

Total		50,222			69,368
Less: accumulated depreciation		(17,278	)		(14,288	)

Net book value		32,944			55,080

Land use rights, net (Tables)

12 Months Ended

Dec. 31, 2022

Land use rights, net

Schedule of land use rights, net

Land use rights, net consist of the following:


	As of December 31,
	2021			2022

	(RMB in millions)
Land use rights		15,253			35,481
Less: accumulated amortization		(925	)		(1,633	)

Net book value		14,328			33,848

Schedule of amortization expenses related to the land use rights for future periods

As of December 31, 2022, amortization expenses related to the land use rights for future periods are estimated to be as follows:


	For the year ended December 31,
	2023		2024		2025		2026		2027		2028 and thereafter

	(RMB in millions)
Amortization expenses		791		791		791		791		791		29,893

Intangible assets, net (Tables)

12 Months Ended

Dec. 31, 2022

Intangible assets, net

Schedule of intangible assets, net

Intangible assets, net consist of the following:


	As of December 31, 2021
	Weighted- Average Amortization Period		Gross Carrying Amount		Accumulated Amortization			Impairment Amount			Net Carrying Amount

	Year		(RMB in millions)

Non-compete		8.0		2,467		(2,120	)		—			347
Domain names and trademarks		18.9		4,186		(1,066	)		(27	)		3,093
Customer relationship		8.8		2,713		(454	)		(60	)		2,199
Technology and others		6.0		1,050		(767	)		(85	)		198

Total		12.2		10,416		(4,407	)		(172	)		5,837


	As of December 31, 2022
	Weighted- Average Amortization Period		Gross Carrying Amount		Accumulated Amortization			Impairment Amount			Net Carrying Amount

	Year		(RMB in millions)

Non-compete		8.0		2,467		(2,279	)		—			188
Domain names and trademarks		17.8		6,756		(1,440	)		(27	)		5,289
Customer relationship		8.7		2,823		(765	)		(60	)		1,998
Technology and others		5.4		2,890		(1,141	)		(85	)		1,664

Total		12.1		14,936		(5,625	)		(172	)		9,139

Schedule of amortization expenses related to the intangible assets for future periods

As of December 31, 2022, amortization expenses related to the intangible assets for future periods are estimated to be as follows:


	For the year ended December 31,
	2023		2024		2025		2026		2027		2028 and thereafter

	(RMB in millions)
Amortization expenses		1,305		1,188		1,124		979		908		3,635

Goodwill (Tables)

12 Months Ended

Dec. 31, 2022

Goodwill

Schedule of changes in the carrying amount of goodwill

The changes in the carrying amount of goodwill are as follows, with information retrospectively adjusted in accordance with the segment changes as disclosed in Note 3


	JD Retail			JD Logistics		Dada		New Businesses			Total
				(RMB in millions)
Transaction in 2020
Additions		2,627			1,633		—		—			4,260
Balance as of December 31, 2020
Goodwill		9,278			1,633		—		2,593			13,504
Accumulated impairment loss		(7	)		—		—		(2,593	)		(2,600	)

		9,271			1,633		—		—			10,904

Transaction in 2021
Additions		1,529			—		—		—			1,529
Balance as of December 31, 2021
Goodwill		10,807			1,633		—		2,593			15,033
Accumulated impairment loss		(7	)		—		—		(2,593	)		(2,600	)

		10,800			1,633		—		—			12,433

Transaction in 2022
Additions		1,398			5,350		3,144		1,586			11,478
Disposal of a subsidiary		(788	)		—		—		—			(788	)
Balance as of December 31, 2022
Goodwill		11,417			6,983		3,144		4,179			25,723
Accumulated impairment loss		(7	)		—		—		(2,593	)		(2,600	)

		11,410			6,983		3,144		1,586			23,123

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
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-Section 50
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-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1A
-URI https://asc.fasb.org/extlink&oid=121556970&loc=SL108378252-109267

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 20
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-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267

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-Name Accounting Standards Codification
-Topic 350
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-Section 55
-Paragraph 24
-URI https://asc.fasb.org/extlink&oid=122137925&loc=d3e14258-109268

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-Subparagraph (b)
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Schedule of accounts payable

Accounts payable (Tables)

12 Months Ended

Dec. 31, 2022

Accounts payable

Accounts payable consist of the following:


	As of December 31,
	2021		2022

	(RMB in millions)
Vendor payable		112,317		126,821
Shipping charges payable and others		28,167		33,786

Total		140,484		160,607

Accrued expenses and other current liabilities (Tables)

12 Months Ended

Dec. 31, 2022

Accrued expenses and other current liabilities

Schedule of accrued expenses and other current liabilities

Accrued expenses and other current liabilities consist of the following:


	As of December 31,
	2021		2022

	(RMB in millions)
Deposits		17,372		18,211
Salary and welfare		8,396		11,303
Accrued administrative expenses		1,165		1,917
Rental fee payable		1,199		1,361
Professional fee		904		1,348
Payable related to employees’ exercise of share-based awards		333		1,273
Liabilities for return allowances		618		743
Deferred consideration payables		—		575
Vehicle fee		437		520
Internet data center fee		444		409
Interest payable		134		167
Others		3,466		4,743

Total		34,468		42,570

Unsecured senior notes (Tables)

12 Months Ended

Dec. 31, 2022

Unsecured senior notes

Schedule of unsecured senior notes

A summary of the Company’s unsecured senior notes as of December 31, 2021 and 2022 is as follows:


	As of December 31,				Effective interest rate
	2021		2022		Effective interest rate

	(RMB in millions)
US$500 million 3.875% notes due 2026		3,154		3,453		4.15	%
US$700 million 3.375% notes due 2030		4,402		4,812		3.47	%
US$300 million 4.125% notes due 2050		1,830		1,959		4.25	%

Carrying value		9,386		10,224
Unamortized discount and debt issuance costs		101		98

Total principal amounts of unsecured senior notes		9,487		10,322

Summary of Principal Amounts due of Unsecured Senior Notes

As of December 31, 2022, the principal of the unsecured senior notes of RMB3,482

million, RMB4,840 million and RMB2,000 million will be due in 2026, 2030 and 2050, respectively. The principal of the unsecured senior notes will be due according to the following schedule:


	Principal amounts
	(RMB in millions)
Within 1 year		—
Between 1 to 2 years		—
Between 2 to 3 years		—
Between 3 to 4 years		3,482
Between 4 to 5 years		—
Beyond 5 years		6,840

Total		10,322

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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Summary of supplemental information related to operating leases

Leases (Tables)

12 Months Ended

Dec. 31, 2022

Leases

A summary of supplemental information related to operating leases as of December 31, 2021 and 2022 is as follows:


	As of December 31,
	2021			2022

	(RMB in millions)
Operating lease ROU assets		19,987			22,267
Operating lease liabilities-current		6,665			7,688
Operating lease liabilities-non-current		13,721			14,978

Total operating lease liabilities		20,386			22,666

Weighted average remaining lease term		5.6 years			5.4 years
Weighted average discount rate		5.0	%		5.0	%

Summary of lease cost recognized and supplemental cash flow information related to operating leases


	For the year ended December 31,
	2020		2021		2022

	(RMB in millions)
Operating lease cost		4,903		6,763		7,951
Short-term lease cost		1,902		2,782		3,181

Total		6,805		9,545		11,132

Cash paid for operating leases		4,801		6,715		7,915

Summary of maturity of lease liabilities

A summary of maturity of operating lease liabilities under the Group’s

non-cancelable

operating leases as of December 31, 2022 is as follows:


	As of December 31, 2022
	(RMB in millions)
2023		7,885
2024		5,322
2025		3,417
2026		2,278
2027		1,633
2028 and thereafter		5,298

Total lease payments		25,833
Less: interest		(3,167	)

Present value of operating lease liabilities		22,666

Others, net (Tables)

12 Months Ended

Dec. 31, 2022

Others, net

Schedule of others non-operating income (expense), net

Others, net consist of the following:


	For the year ended December 31,
	2020			2021			2022

	(RMB in millions)
Gains/(losses) from fair value change of long-term investments		29,483			(7,252	)		(4,096	)
Government financial incentives		2,545			2,482			2,773
Interest income		2,753			4,213			5,742
Gains/(losses) from acquirements or disposals of business and investment		279			140			(3,558	)
Impairment of investments		(208	)		(574	)		(1,969	)
Foreign exchange gains/(losses), net		(90	)		42			114
Others		548			359			(561	)

Total		35,310			(590	)		(1,555	)

Taxation (Tables)

12 Months Ended

Dec. 31, 2022

Taxation

Schedule of components of income/(loss) before tax

The components of income/(loss) before tax are as follows:


	For the year ended December 31,
	2020			2021			2022

	(RMB in millions)
Income/(loss) before tax
Income from Chinese mainland operations		15,803			14,518			16,800
Income/(loss) from non-Chinese mainland operations		35,016			(17,098	)		(2,933	)
Total income/(loss) before tax		50,819			(2,580	)		13,867

Income tax benefits/(expenses) applicable to Chinese mainland operations
Current income tax expenses		(2,201	)		(2,538	)		(4,418	)
Deferred tax benefits		719			651			732
Subtotal income tax expenses applicable to Chinese mainland operations		(1,482	)		(1,887	)		(3,686	)
Income tax expenses applicable to non-Chinese mainland operations
Current income tax expenses		—			—			(307	)
Deferred tax expenses		—			—			(183	)
Subtotal income tax expenses applicable to non-Chinese mainland operations		—			—			(490	)

Total income tax expenses		(1,482	)		(1,887	)		(4,176	)

Schedule of reconciliation of the differences between statutory income tax rate and the effective income tax rate


	For the year ended December 31,
	2020		2021		2022
Statutory income tax rate		25.0%		25.0%		25.0	%
Tax effect of preferential tax rates and tax holiday		(2.3)%		86.0%		(19.3	)%
Tax effect of tax-exempt entities		(16.8)%		(143.7)%		12.1	%
Effect on tax rates in different tax jurisdiction		(0.5)%		(2.3)%		(3.2	)%
Tax effect of non-deductible expenses		0.5%		(13.8)%		4.0	%
Tax effect of non-taxable income		0.0%		1.4%		(0.4	)%
Tax effect of Super Deduction and others		(4.2)%		105.9%		(19.0	)%
Changes in valuation allowance		1.2%		(131.6)%		28.3	%
Effect on withholding income tax		0.0%		0.0%		2.6	%

Effective tax rates		2.9%		(73.1)%		30.1	%

Summary of income tax holiday


	For the year ended December 31,
	2020		2021		2022
Tax holiday effect (RMB in millions)		1,153		2,219		2,677
Effect of tax holiday on basic net income/(loss) per share (RMB)		0.38		0.71		0.86
Effect of tax holiday on diluted net income/(loss) per share (RMB)		0.37		0.71		0.84

Schedule of deferred tax assets and deferred tax liabilities


	As of December 31,
	2021			2022
	(RMB in millions)
Deferred tax assets
- Net operating loss carry forwards and others		6,303			12,715
- Deferred revenues		553			472
- Inventory valuation allowance		575			1,029
- Allowance for doubtful accounts		603			1,001
- Unrealized fair value losses for certain investments		747			595
Less: valuation allowance		(7,670	)		(14,276	)

Net deferred tax assets		1,111			1,536

Deferred tax liabilities
- Intangible assets arisen from business combination		1,454			5,598
- Withholding tax on undistributed earnings		—			183
- Accelerated tax depreciation and others		443			730

Total deferred tax liabilities		1,897			6,511

Schedule of movement of valuation allowance


	For the year ended December 31,
	2020			2021			2022

	(RMB in millions)
Balance at beginning of the year		3,674			4,289			7,670
Additions		4,393			5,052			7,694
Reversals		(3,778	)		(1,671	)		(1,088	)

Balance at end of the year		4,289			7,670			14,276

Other comprehensive income (Tables)

12 Months Ended

Dec. 31, 2022

Other comprehensive income/(loss)

Schedule of changes in the composition of accumulated other comprehensive income/(loss) attributable to ordinary shareholders


	Foreign currency translation adjustments			Net unrealized gains/ (losses) on available- for-sale securities			Total
	(RMB in millions)
Balances as of December 31, 2019		4,108			55			4,163
Other comprehensive loss		(7,656	)		(55	)		(7,711	)

Balances as of December 31, 2020		(3,548	)		—			(3,548	)
Other comprehensive loss		(2,542	)		—			(2,542	)

Balances as of December 31, 2021		(6,090	)		—			(6,090	)
Other comprehensive income		5,131			—			5,131

Balances as of December 31, 2022		(959	)		—			(959	)

Share-based compensation (Tables)

12 Months Ended

Dec. 31, 2022

Share-based compensation

Schedule of share-based compensation expenses


	For the year ended December 31,
	2020		2021		2022

	(RMB in millions)
Cost of revenues		98		102		143
Fulfillment		646		882		930
Marketing		347		586		631
Research and development		1,400		1,781		1,557
General and administrative		1,665		5,783		4,287

Total		4,156		9,134		7,548

Employee and non-employee

Share-based compensation

Schedule of RSUs activity

A summary of activities of the service-based RSUs for the years ended December 31, 2020, 2021 and 2022 is presented as follows:


	Number of RSUs			Weighted- Average Grant-Date Fair Value
				US$
Unvested as of December 31, 2019		100,831,204			15.35

Granted		42,621,084			26.44
Vested		(20,632,596	)		15.25
Forfeited or cancelled		(14,550,450	)		16.13

Unvested as of December 31, 2020		108,269,242			19.62

Granted		30,069,498			39.93
Vested		(23,834,466	)		18.89
Forfeited or cancelled		(19,395,408	)		21.30

Unvested as of December 31, 2021		95,108,866			25.89

Granted		13,951,100			29.81
Vested		(23,123,292	)		23.04
Forfeited or cancelled		(14,295,620	)		25.94

Unvested as of December 31, 2022		71,641,054			27.56

Schedule of service-based share options activity

A summary of activities of the service-based share options for the years ended December 31, 2020, 2021 and 2022 is presented as follows:


	Number of Share Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term		Aggregate Intrinsic Value
				US$		Year		US$ in millions
Outstanding as of December 31, 2019		10,224,124			6.39		4.3		115
Exercised		(5,073,294	)		6.23
Forfeited or cancelled		(243,770	)		10.24

Outstanding as of December 31, 2020		4,907,060			6.38		3.0		184

Exercised		(1,962,856	)		5.49
Forfeited or cancelled		(7,092	)		13.42

Outstanding as of December 31, 2021		2,937,112			6.95		2.9		82

Exercised		(620,476	)		5.70
Forfeited or cancelled		(2,500	)		3.96

Outstanding as of December 31, 2022		2,314,136			7.29		2.2		48

Vested and expected to vest as of December 31, 2022		2,298,132			7.25		2.2		48
Exercisable as of December 31, 2022		2,247,452			7.12		2.1		47

Net income/(loss) per share (Tables)

12 Months Ended

Dec. 31, 2022

Net income/(loss) per share

Schedule of basic and diluted net income/(loss) per share

Basic and diluted net income/(loss) per share for each of the years presented are calculated as follows:


	For the year ended December 31,
	2020			2021			2022
Numerator:
Net income/(loss) attributable to ordinary shareholders — basic (RMB in millions)		49,405			(3,560	)		10,380
Impact of subsidiaries’ diluted earnings (RMB in millions)		(157	)		(2	)		(170	)

Net income/(loss) attributable to ordinary shareholders — diluted (RMB in millions)		49,248			(3,562	)		10,210
Denominator:
Weighted average number of shares — basic		3,021,808,985			3,107,436,665			3,125,571,110
Adjustments for dilutive options and RSUs		87,215,045			—			55,315,026

Weighted average number of shares — diluted		3,109,024,030			3,107,436,665			3,180,886,136
Basic net income/(loss) per share attributable to ordinary shareholders (RMB)		16.35			(1.15	)		3.32
Diluted net income/(loss) per share attributable to ordinary shareholders (RMB)		15.84			(1.15	)		3.21

Related party transactions (Tables)

12 Months Ended

Dec. 31, 2022

Related party transactions

Schedule of the major related parties and their relationships with the Group

The table below sets forth the major related parties and their relationships with the Group as of December 31, 2022:


Name of related parties		Relationship with the Group
Tencent and its subsidiaries (“Tencent Group”)(*)		A shareholder of the Group
Dada and its subsidiaries (“Dada Group”)(**)		An investee of the Group
JD Technology (***)		An investee of the Group, and controlled by the Founder
Property Funds		Investees of the Group
ATRenew and its subsidiaries (“ATRenew Group”)		An investee of the Group

(*)

March 2022, Tencent completed a distribution of approximately

460

the Group’s related party since then.

(**)	Dada became the subsidiary of the Company since February 28, 2022 as disclosed in Note 7. As a result, Dada Group was not considered as the Group’s related party since then.

(***)

JD Technology became an investee of the Group since June 2020 (Note 6).

Schedule of the major related party transactions

(a) The Group entered into the following transactions with the major related parties:


Transactions	For the year ended December 31,
	2020		2021		2022

	(RMB in millions)
Revenues:
Commission from cooperation on advertising business with Tencent Group(*)		355		248		44
Services provided and products sold to Tencent Group(*)		375		553		77
Services provided and products sold to Dada Group		179		523		135
Services provided and products sold to ATRenew Group		664		894		806
Services provided and products sold to JD Technology		598		882		1,044
Operating expenses:
Services received and purchases from Tencent Group(*)		3,226		5,010		1,314
Services received from Dada Group		2,200		1,087		212
Payment processing and other services received from JD Technology		6,945		8,762		11,494
Lease and property management services received from Property Funds		838		1,180		1,249
Services received from ATRenew Group		32		31		4
Other income:
Income from non-compete agreement with Dada Group		82		77		13
Interest income from loans provided to JD Technology		31		253		301
Interest income from loans provided to Property Funds		49		39		43

(*)	Please refer to Note 23 for more details of strategic cooperation with Tencent Group.

Schedule of the major related party balances

(b) The Group had the following balances with the major related parties:


	As of December 31,
	2021			2022

	(RMB in millions)

Due from Tencent Group		1,956			—
Due from JD Technology
Loans provided to JD Technology (*)		2,876			3,378
Other payables to JD Technology		(416	)		(637	)
Due from Property Funds
Loans provided to Property Funds (*)		769			1,746
Other receivables from Property Funds		87			1,068
Due from ATRenew Group		—			22

Total		5,272			5,577

Due to Dada Group		(337	)		—
Due to ATRenew Group		(45	)		—

Total		(382	)		—

Deferred revenues in relation to traffic support, marketing and promotion services to be provided to Dada Group		(83	)		—
Deferred revenues in relation to traffic support, marketing and promotion services to be provided to ATRenew Group		(1,038	)		(610	)

Total		(1,121	)		(610	)

Other liabilities in relation to non-compete obligation to Dada Group		(101	)		—

Total		(101	)		—

(*)	In relation to the loans provided to JD Technology and Property Funds, the Group charged JD Technology and Property Funds based on fair market interest rate, and cash flows resulted from the loans were presented within investing activities in the consolidated statements of cash flows.

Segment reporting (Tables)

12 Months Ended

Dec. 31, 2022

Segment reporting

Schedule of the Group's operating segment results


	For the year ended December 31,
	2020			2021			2022

	(RMB in millions)
Net revenues:
JD Retail		693,965			866,303			929,929
JD Logistics		73,375			104,693			137,402
Dada		—			—			8,030
New Businesses		17,601			26,063			21,779
Inter-segment(*)		(39,945	)		(46,043	)		(50,904	)

Total segment net revenues		744,996			951,016			1,046,236
Unallocated items		806			576			—

Total consolidated net revenues		745,802			951,592			1,046,236

Operating income/(loss):
JD Retail		20,611			26,613			34,852
JD Logistics		1,098			(1,827	)		528
Dada		—			—			(1,122	)
New Businesses		(4,723	)		(10,600	)		(5,295	)
Including: gain on sale of development properties (Note 19)		1,649			767			1,379

Total segment operating income		16,986			14,186			28,963
Unallocated items(**)		(4,643	)		(10,045	)		(9,240	)

Total consolidated operating income		12,343			4,141			19,723
Total other income/(expense)		38,476			(6,721	)		(5,856	)

Income/(loss) before tax		50,819			(2,580	)		13,867

(*)	The inter-segment eliminations mainly consist of revenues from supply chain solutions and logistics services provided by JD Logistics to JD Retail, and property leasing services provided by JD Property to JD Logistics.

(**)	A summary of unallocated items for the years presented is as follows:


	For the year ended December 31,
	2020			2021			2022

	(RMB in millions)

Share-based compensation		(4,156	)		(9,134	)		(7,548	)
Amortization of intangible assets resulting from assets and business acquisitions		(723	)		(940	)		(1,217	)
Effects of business cooperation arrangements		236			29			(475	)

Total		(4,643	)		(10,045	)		(9,240	)

Loan facilities and lines of credit (Table)

12 Months Ended

Dec. 31, 2022

Lines of credit and loan facilities

Schedule of long-term borrowings

As of December 31, 2022, the long-term borrowings, including the portion due within one year which were recoded in “short-term debts”, will be repaid according to the following schedule:


	As of December 31, 2022
	(RMB in millions)
2023		885
2024		1,367
2025		3,360
2026		2,109
2027		7,619
2028 and thereafter		5,554

		20,894

As of December 31, 2022, the Group had agreements with reputable commercial banks for unsecured revolving lines of credit, and increased its revolving lines of credit to RMB

131,367

30,391

million reserved for the issuance of bank acceptance and RMB

2,331

million reserved for the bank guarantee.

Schedule of debt

As of December 31, 2022, the Group’s loan facilities were classified into different types as follows:


	As of December 31, 2022
	(RMB in millions)
Unsecured senior notes (Note 17)		10,224
Unsecured borrowings (*)		24,327
Secured borrowings (**)		7,828

Total		42,379

(*)	As of December 31, 2022, the un secured borrowings mainly consisted of borrowings without collaterals under loan facility agreements and borrowed from wel l-known financial institutions. The major unsecured borrowings are listed as below.

Commitments and contingencies (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of future minimum payments under these non-cancelable agreements with initial terms of one year or more

Future minimum payments under these

non-cancelable

agreements with initial terms of one year or more consist of the following:


	As of December 31, 2022
	(RMB in millions)
2023		824
2024		784
2025		357
2026		330
2027		328
2028 and thereafter		1,708

		4,331

Parent company only condensed financial information (Tables)

12 Months Ended

Dec. 31, 2022

Parent company only condensed financial information

Condensed Balance Sheets


	As of December 31,
	2021			2022
	RMB			RMB			US$ Note 2(g)
	(in millions, except share and per share data)

ASSETS
Cash and cash equivalents		7,417			5,029			729
Short-term investments		1			—			—
Internal balance		65,120			63,708			9,237
Investments in subsidiaries and consolidated VIEs		148,607			162,015			23,491
Prepayments and other assets		419			308			44

Total assets		221,564			231,060			33,501

LIABILITIES
Short-term debts		2,869			—			—
Unsecured senior notes		9,461			10,347			1,499
Long-term borrowings		—			6,965			1,010
Accrued expenses and other liabilities		323			382			56

Total liabilities		12,653			17,694			2,565

SHAREHOLDERS’ EQUITY:
Ordinary shares (US$0.00002 par value; 100,000,000,000 shares authorized; 2,731,123,330 Class A ordinary shares issued and 2,690,342,230 outstanding, 428,185,501 Class B ordinary shares issued and 420,449,419 outstanding as of December 31, 2021; 2,793,298,344 Class A ordinary shares issued and 2,756,458,772 outstanding, 386,374,723 Class B ordinary shares issued and 379,220,475 outstanding as of December 31, 2022.)		—	*		—	*		—	*
Additional paid-in capital		182,578			184,041			26,683
Statutory reserves		1,586			3,473			504
Treasury stock		(2,968	)		(2,493	)		(361	)
Retained earnings		33,805			29,304			4,249
Accumulated other comprehensive loss		(6,090	)		(959	)		(139	)

Total shareholders’ equity		208,911			213,366			30,936

Total liabilities and shareholders’ equity		221,564			231,060			33,501

*	Absolute value is less than RMB1 million.

Condensed Statements of Operations and Comprehensive Income

Condensed Statements of Operations and Comprehensive Income/(Loss)


	For the year ended December 31,
	2020			2021			2022
	RMB			RMB			RMB			US$
										Note 2(g)
	(in millions, except share and per share data)
Operating expenses
Marketing		(11	)		(4	)		(2	)		—
General and administrative		(453	)		(465	)		(331	)		(48	)

Loss from operations		(464	)		(469	)		(333	)		(48	)

Other income/(expense)
Income/(loss) from subsidiaries and consolidated VIEs		50,154			(2,708	)		10,667			1,548
Other income/(expense), net		(266	)		(376	)		48			7

Income/(loss) before tax		49,424			(3,553	)		10,382			1,507
Income tax expenses		(19	)		(7	)		(2	)		—

Net income/(loss)		49,405			(3,560	)		10,380			1,507

Net income/(loss) attributable to ordinary shareholders		49,405			(3,560	)		10,380			1,507

Net income/(loss)
Other comprehensive income/(loss):
Foreign currency translation adjustments		(7,656	)		(2,542	)		5,131			744
Net change in unrealized gains/(losses) on available-for-sale securities:
Unrealized gains, net of tax		705			—			—			—
Reclassification adjustment for gains recorded in net income, net of tax		(760	)		—			—			—

Net unrealized losses on available-for-sale securities		(55	)		—			—			—

Total other comprehensive income/(loss)		(7,711	)		(2,542	)		5,131			744

Total comprehensive income/(loss)		41,694			(6,102	)		15,511			2,251

Condensed Statements of Cash Flows


	For the year ended December 31,
	2020			2021			2022
	RMB			RMB			RMB			US$
										Note 2(g)
	(in millions)
Net cash used in operating activities		(243	)		(411	)		(509	)		(74	)
Cash flows from investing activities:
Purchase of short-term investments		(3,421	)		(3,189	)		—			—
Maturity of short-term investments		—			6,546			1			—
Loans (provided to)/settled by internal companies		(13,421	)		(20,900	)		7,426			1,077
Other investing activities		40			3,147			—			—

Net cash provided by/(used in) investing activities		(16,802	)		(14,396	)		7,427			1,077

Cash flows from financing activities:
Proceeds from issuance of ordinary shares		31,342			—			—			—
Repurchase of ordinary shares		—			—			(1,823	)		(264	)
Cash paid for dividends		—			—			(13,087	)		(1,897	)
Proceeds from short-term borrowings		—			—			3,945			572
Repayment of short-term borrowings		—			—			(7,005	)		(1,016	)
Proceeds from long-term borrowings		—			—			6,618			960
Proceeds from unsecured senior notes		6,804			—			—			—
Repayment of unsecured senior notes		—			(3,246	)		—			—
Other financing activities		236			62			1,043			151

Net cash provided by/(used in) financing activities		38,382			(3,184	)		(10,309	)		(1,494	)

Effect of exchange rate changes on cash, cash equivalents, and restricted cash		(2,369	)		(136	)		1,003			145

Net increase/(decrease) in cash, cash equivalents, and restricted cash		18,968			(18,127	)		(2,388	)		(346	)
Cash, cash equivalents, and restricted cash at beginning of year		6,576			25,544			7,417			1,075

Cash, cash equivalents, and restricted cash at end of year		25,544			7,417			5,029			729

Principal activities and organization (Details)	Dec. 31, 2022
Jingdong Century
Organization
Equity interest held (as a percent)	100.00%
Jiangsu Jingdong Information Technology Co., Ltd.
Organization
Equity interest held (as a percent)	100.00%
Shanghai Shengdayuan
Organization
Equity interest held (as a percent)	100.00%
JD Logistics Holding Limited
Organization
Equity interest held (as a percent)	64.00%
Jingdong Technology Group Corporation
Organization
Equity interest held (as a percent)	100.00%
JINGDONG Property, Inc
Organization
Equity interest held (as a percent)	77.00%
JD Logistics, Inc. (formerly known as Jingdong Express Group Corporation) ("JD Logistics")
Organization
Equity interest held (as a percent)	64.00%
JD.com E-Commerce (Technology) Hong Kong Co., Ltd.
Organization
Equity interest held (as a percent)	100.00%
Jingdong E-Commerce (Trade) Hong Kong Co., Ltd
Organization
Equity interest held (as a percent)	100.00%
JD.com International Limited
Organization
Equity interest held (as a percent)	100.00%
Beijing Jingdong Shangke Information Technology Co., Ltd.
Organization
Equity interest held (as a percent)	100.00%
Chongqing Jingdong Haijia E-commerce Co., Ltd. ("Chongqing Haijia")
Organization
Equity interest held (as a percent)	100.00%
JD.com Overseas Innovation Limited
Organization
Equity interest held (as a percent)	100.00%
JD.com Investment Limited
Organization
Equity interest held (as a percent)	100.00%
JD Asia Development Limited
Organization
Equity interest held (as a percent)	77.00%
Suqian Hanbang Investment Management Co., Ltd.
Organization
Equity interest held (as a percent)	100.00%
Xi'an Jingxundi Supply Chain Technology Co., Ltd. ("Xi'an Jingxundi")
Organization
Equity interest held (as a percent)	64.00%
JD Assets Holding Limited
Organization
Equity interest held (as a percent)	100.00%
JD Property Holding Limited
Organization
Equity interest held (as a percent)	100.00%
Beijing Wodong Tianjun Information Technology Co., Ltd. ("Beijing Wodong Tianjun")
Organization
Equity interest held (as a percent)	100.00%
JD Health International Inc.
Organization
Equity interest held (as a percent)	68.00%
JD Jiankang Limited
Organization
Equity interest held (as a percent)	100.00%
JD Industrial Technology Limited
Organization
Equity interest held (as a percent)	100.00%
JINGDONG Industrials, Inc
Organization
Equity interest held (as a percent)	81.00%
Jingdong Logistics Supply Chain Co., Ltd.
Organization
Equity interest held (as a percent)	64.00%
Jiangsu Huiji Space Technology Co., Ltd. ("Jiangsu Huiji")
Organization
Equity interest held (as a percent)	100.00%
JD Sunflower Investment Limited
Organization
Equity interest held (as a percent)	100.00%
Windcreek Limited
Organization
Equity interest held (as a percent)	100.00%
Dada Nexus Limited ("Dada")
Organization
Equity interest held (as a percent)	53.00%

Principal activities and organization (Details 2) $ / shares in Units, ¥ in Millions, $ in Millions		12 Months Ended
	Jun. 18, 2020 CNY (¥)	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥) shares	Dec. 31, 2020 CNY (¥)	Dec. 31, 2022 CNY (¥) shares	Dec. 31, 2021 $ / shares	Jun. 18, 2020 $ / shares shares	Dec. 31, 2019 CNY (¥)
VIEs and VIEs' subsidiaries
Total assets		$ 86,303		¥ 496,507		¥ 595,250
Total liabilities		46,558		249,723		321,127
Total net revenues		151,690	¥ 1,046,236	951,592	¥ 745,802
Net loss		1,407	9,691	(4,467)	49,337
Net cash provided by operating activities		8,383	57,819	42,301	42,544
Net cash used in investing activities		(7,833)	(54,026)	(74,248)	(57,811)
Net cash provided by/(used in) financing activities		171	1,180	19,503	71,072
Net increase/(decrease) in cash, cash equivalents, and restricted cash		1,227	8,463	(13,942)	50,723
Cash, cash equivalents, and restricted cash at beginning of year		11,119	76,693	90,519	39,912
Cash, cash equivalents, and restricted cash at end of year		12,341	85,115	76,693	90,519
Total shareholders' equity(deficit) of the Group's VIEs and VIEs' subsidiaries		$ 39,659		¥ 245,572	204,486	¥ 273,533			¥ 84,660
Common stock value per share \| $ / shares		$ 0.00002					$ 0.00002
Hong Kong Stock Exchange
VIEs and VIEs' subsidiaries
Proceeds from issuance of offering	¥ 31,300
Class A ordinary shares
VIEs and VIEs' subsidiaries
Ordinary shares, shares issued \| shares		2,793,298,344		2,731,123,330		2,793,298,344		152,912,100
Class A ordinary shares \| HKD
VIEs and VIEs' subsidiaries
Common stock value per share \| $ / shares								$ 226
VIEs and their subsidiaries
VIEs and VIEs' subsidiaries
Total assets				¥ 80,138		¥ 78,162
Total liabilities				77,858		74,553
Total net revenues			134,516	117,419	86,054
Net loss			1,137	(3,069)	(422)
Net cash provided by operating activities			5,434	1,593	9,912
Net cash used in investing activities			(4,498)	(10,089)	(11,053)
Net cash provided by/(used in) financing activities			(1,306)	11,611	2,659
Net increase/(decrease) in cash, cash equivalents, and restricted cash			(370)	3,115	1,518
Cash, cash equivalents, and restricted cash at beginning of year			5,560	2,445	927
Cash, cash equivalents, and restricted cash at end of year			5,190	5,560	2,445
Registered capitals and PRC statutory reserves of the Group's consolidated VIEs						3,217
Total shareholders' equity(deficit) of the Group's VIEs and VIEs' subsidiaries				1,535		3,609
VIEs and their subsidiaries \| JD Variable Interest Entity with the intra-company balances and transactions within the Group eliminated [Member]
VIEs and VIEs' subsidiaries
Total assets				77,734		71,527
Total liabilities				32,642		¥ 39,368
Total net revenues			¥ 72,666	¥ 59,124	¥ 36,976

Summary of significant accounting policies (Details) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Foreign currency translation
Total exchange gains/(losses)	$ 17	¥ 114	¥ 42	¥ (90)
Total foreign currency translation adjustments gains/(losses)	$ 1,132	¥ 7,810	(2,872)	(7,955)
Convenience translation
Convenience translation rate (RMB to USD)		6.8972
Loan receivables, net
Provision for the doubtful loan receivables		¥ 0	0	¥ 0
Construction in progress
Amount of construction in progress		¥ 11,161	5,817
Minimum
Loan receivables, net
Loan periods extended range	1 month	1 month
Maximum
Loan receivables, net
Loan periods extended range	24 months	24 months
Electronic equipment \| Minimum
Property, equipment and software, net
Estimated useful Lives (in Years)	3 years	3 years
Electronic equipment \| Maximum
Property, equipment and software, net
Estimated useful Lives (in Years)	5 years	5 years
Office equipment
Property, equipment and software, net
Estimated useful Lives (in Years)	5 years	5 years
Vehicles \| Minimum
Property, equipment and software, net
Estimated useful Lives (in Years)	3 years	3 years
Vehicles \| Maximum
Property, equipment and software, net
Estimated useful Lives (in Years)	6 years	6 years
Logistic,warehouse and other heavy equipment \| Minimum
Property, equipment and software, net
Estimated useful Lives (in Years)	5 years	5 years
Logistic,warehouse and other heavy equipment \| Maximum
Property, equipment and software, net
Estimated useful Lives (in Years)	10 years	10 years
Leasehold improvement
Property, equipment and software, net
Estimated useful Lives	Over the shorter of the expected life of leasehold improvements or the lease term	Over the shorter of the expected life of leasehold improvements or the lease term
Software \| Minimum
Property, equipment and software, net
Estimated useful Lives (in Years)	3 years	3 years
Software \| Maximum
Property, equipment and software, net
Estimated useful Lives (in Years)	5 years	5 years
Land
Property, equipment and software, net
Estimated useful Lives	Indefinite	Indefinite
Building
Property, equipment and software, net
Estimated useful Lives (in Years)	40 years	40 years
Building improvement \| Minimum
Property, equipment and software, net
Estimated useful Lives (in Years)	5 years	5 years
Building improvement \| Maximum
Property, equipment and software, net
Estimated useful Lives (in Years)	10 years	10 years
Other non-current assets
Loan receivables, net
The loan receivables with the collection period over one year		¥ 142	733
Prepayments and other current assets
Loan receivables, net
The loan receivables with the collection period less than one year		¥ 2,131	¥ 1,817

Summary of significant accounting policies (Details 2)	12 Months Ended
Summary of significant accounting policies (Details 2)	Dec. 31, 2022
Minimum
Land use rights, net
Estimated useful lives (in years)	18 years
Maximum
Land use rights, net
Estimated useful lives (in years)	50 years
Non-compete Agreement \| Minimum
Intangible assets, net
Estimated useful lives (in years)	5 years
Non-compete Agreement \| Maximum
Intangible assets, net
Estimated useful lives (in years)	8 years
Domain names and trademarks \| Minimum
Intangible assets, net
Estimated useful lives (in years)	5 years
Domain names and trademarks \| Maximum
Intangible assets, net
Estimated useful lives (in years)	20 years
Customer relationship \| Minimum
Intangible assets, net
Estimated useful lives (in years)	3 years
Customer relationship \| Maximum
Intangible assets, net
Estimated useful lives (in years)	10 years
Technology and others \| Minimum
Intangible assets, net
Estimated useful lives (in years)	3 years
Technology and others \| Maximum
Intangible assets, net
Estimated useful lives (in years)	10 years

Summary of significant accounting policies (Details 3) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) item segment lease	Dec. 31, 2022 CNY (¥) item segment lease	Dec. 31, 2021 CNY (¥) item segment lease	Dec. 31, 2020 CNY (¥) item segment lease	Dec. 31, 2022 CNY (¥)
Revenue
Liabilities for return allowances			¥ 618		¥ 743
Net revenues	$ 151,690	¥ 1,046,236	951,592	¥ 745,802
Accounts receivable, net of allowance for doubtful accounts	$ 2,983		11,900		20,576
Unearned revenue			¥ 29,184		33,325
Unearned revenue recognized		¥ 22,103
Revenue, Practical Expedient	true	true
Customer incentives and loyalty programs
Types of discounted coupons \| item	2	2	2	2
Fulfillment
Fulfillment	$ 9,136	¥ 63,011	¥ 59,055	¥ 48,700
Marketing
Advertising costs		¥ 29,898	¥ 32,704	¥ 23,088
Leases
Number of finance leases \| lease	0	0	0	0
Segment reporting
Number of major business segments \| segment	4	4	3	2
Statutory reserves
Appropriations of statutory reserves		¥ 1,887	¥ 53	¥ 74
Appropriations to other reserve funds		¥ 0	0	0
PRC \| General reserve fund \| Foreign invested enterprise
Statutory reserves
Minimum portion of after tax profit to be allocated to general reserve under PRC law (as a percentage)	10.00%	10.00%
Maximum percentage of statutory general reserve related to entity's registered capital	50.00%	50.00%
PRC \| Statutory surplus reserve \| Domestic enterprise
Statutory reserves
Minimum portion of after tax profit to be allocated to statutory surplus under PRC law (as a percentage)	10.00%	10.00%
Maximum percentage of statutory surplus reserve related to entity's registered capital	50.00%	50.00%
Electronics and home appliance products
Revenue
Net revenues		¥ 515,945	492,592	400,927
General merchandise products
Revenue
Net revenues		349,117	323,063	250,952
Shipping
Fulfillment
Fulfillment		28,958	27,786	23,088
Online marketplace and marketing services
Revenue
Net revenues		81,970	72,118	53,473
Logistics and other services
Revenue
Net revenues		¥ 99,204	63,819	¥ 40,450
Accrued expenses and other current liabilities
Revenue
Liabilities for return allowances			618		743
Prepayments and other current assets
Revenue
Rights to recover products from customers			¥ 660		¥ 785

Concentration and risks (Details) - CNY (¥) ¥ in Millions	12 Months Ended
Concentration and risks (Details) - CNY (¥) ¥ in Millions	Dec. 31, 2022	Dec. 31, 2021
Concentration and risks
Foreign currency exchange appreciation (depreciation) rate	8.00%	2.00%
Currency convertibility risk
Concentration and risks
Cash and cash equivalents, restricted cash and short-term investments	¥ 146,152	¥ 99,174

Restricted cash (Details) ¥ in Millions, $ in Millions	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
Restricted cash
Restricted cash	$ 907	¥ 6,254	¥ 5,926

Fair value measurement (Details) ¥ in Millions, $ in Millions	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
Assets
Investment securities	$ 1,683	¥ 11,611	¥ 19,088
Recurring basis
Assets
Restricted cash		6,254	5,926
Total assets		92,010	102,024
Recurring basis \| Wealth management products
Assets
Short-term investments		71,496	77,010
Other non-current assets		2,649
Recurring basis \| Listed equity securities
Assets
Investment securities		11,611	19,088
Recurring basis \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets
Total assets		11,611	19,088
Recurring basis \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Listed equity securities
Assets
Investment securities		11,611	19,088
Recurring basis \| Significant Other Observable Inputs (Level 2)
Assets
Restricted cash		6,254	5,926
Total assets		80,399	82,936
Recurring basis \| Significant Other Observable Inputs (Level 2) \| Wealth management products
Assets
Short-term investments		71,496	¥ 77,010
Other non-current assets		¥ 2,649

Fair value measurement (Details 2) - CNY (¥) ¥ in Millions	12 Months Ended
Fair value measurement (Details 2) - CNY (¥) ¥ in Millions	Dec. 31, 2022	Dec. 31, 2021
Wealth management products
Short-term investments
Gain (loss) from changes in fair value option	¥ 1,921	¥ 1,514

Fair value measurement (Details 3) - CNY (¥) ¥ in Millions	12 Months Ended					36 Months Ended	72 Months Ended
Fair value measurement (Details 3) - CNY (¥) ¥ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2019	Dec. 31, 2022
Investment securities
Unrealized gain/(loss) of the investment securities	¥ (4,304)	¥ (9,344)	¥ 18,722
Accumulated Impairment of Measurement Alternative	2,610	2,779					¥ 2,610
Wealth Management Product [Member]
Investment securities
Gain (loss) from changes in fair value of product	1,921	1,514
Other Noncurrent Assets [Member] \| Wealth Management Product [Member]
Investment securities
Gain (loss) from changes in fair value of product	¥ (137)
China Unicom
Investment securities
Total consideration for the investment					¥ 5,000
Percentage of disposal	15.20%
Unrealized gain/(loss) of the investment securities	¥ 341	(388)	(1,047)
Vipshop
Investment securities
Total consideration for the investment						¥ 3,917
Unrealized gain/(loss) of the investment securities		(6,560)	¥ 4,272
Realized loss of investment securities							(839)
ESR cayman limited
Investment securities
Total consideration for the investment				¥ 1,952
Percentage of disposal	6.30%		8.00%
Unrealized gain/(loss) of the investment securities	¥ (1,722)	(396)	¥ 1,632
Significant Other Observable Inputs (Level 2)
Investment securities
Unsecured senior notes	9,045	10,020					9,045
Fair value of held to maturity debt securities	4,725	3,008					4,725
Significant Unobservable Inputs (Level 3) \| Nonrecurring basis \| Others, net
Investment securities
Impairment of investments	504	119	¥ 202
Bank Time Deposits [Member] \| Significant Other Observable Inputs (Level 2)
Investment securities
Time deposits	86,780	39,282					86,780
Bank Time Deposits [Member] \| Significant Other Observable Inputs (Level 2) \| Other Noncurrent Assets [Member]
Investment securities
Investment in time deposit with maturity of more than one year	¥ 100	¥ 5,427					¥ 100

JD Technology reorganization (Details) - CNY (¥) ¥ in Millions		1 Months Ended		6 Months Ended	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2021	Jun. 30, 2020	Jun. 30, 2017	Dec. 31, 2018
JD Technology [Member]
JD Technology reorganization
Additional cash in investment		¥ 4,000	¥ 1,780
Equity method investment, ownership percentage	41.70%	41.70%	36.80%
JD Technology [Member]
JD Technology reorganization
Percentage of equity interest converted from profit sharing right			36.80%
Additional cash in investment	¥ 4,000		¥ 1,780
Dual Class Voting Shareholding Structure [Member] \| JD Technology [Member]
JD Technology reorganization
Percentage of Voting Right			18.70%
Held-for-sale \| JD Technology [Member]
JD Technology reorganization
Percentage of equity stake disposed				68.60%
Amount raised				¥ 14,300
Percentage of profit sharing right				40.00%	36.00%
Percentage of equity interest can be converted from profit sharing right				40.00%	36.00%

Business acquisition - Summary of purchase price as of the date of dada acquisition (Details) - Dada Acquisition [Member] ¥ in Millions	Feb. 28, 2022 CNY (¥)
Summary of purchase price as of the date of acquisition [Line Items]
Cash	¥ 3,452
Business cooperation agreement as consideration of the acquisition	1,606
Fair value of previously held equity interests	5,702
Total	¥ 10,760

Business acquisition - Schedule of allocation of the purchase price as of the date of dada acquisition (Details) ¥ in Millions, $ in Millions	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CNY (¥)	Feb. 28, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Details of allocation of the purchase price as of the date of acquisition as follows [Line Items]
Goodwill	$ 3,353	¥ 23,123		¥ 12,433	¥ 10,904
Dada Acquisition [Member]
Details of allocation of the purchase price as of the date of acquisition as follows [Line Items]
Net assets acquired			¥ 7,549
Premium not reflected in goodwill			3,623
Goodwill			4,542
Deferred tax liabilities			(522)
Non-controlling interests			(6,522)
Total			10,760
Dada Acquisition [Member] \| Trademarks and domain names
Details of allocation of the purchase price as of the date of acquisition as follows [Line Items]
Newly identified and appreciation of intangible assets			805
Dada Acquisition [Member] \| Technology
Details of allocation of the purchase price as of the date of acquisition as follows [Line Items]
Newly identified and appreciation of intangible assets			525
Dada Acquisition [Member] \| Relationship with riders
Details of allocation of the purchase price as of the date of acquisition as follows [Line Items]
Newly identified and appreciation of intangible assets			640
Dada Acquisition [Member] \| Consumer base
Details of allocation of the purchase price as of the date of acquisition as follows [Line Items]
Newly identified and appreciation of intangible assets			¥ 120

Business acquisition - Schedule of allocation of the purchase price as of the date of CNLP acquisition (Details) - CNLP [Member] ¥ in Millions, $ in Millions		2 Months Ended	5 Months Ended
	Mar. 01, 2022 HKD ($)	Mar. 01, 2022 CNY (¥)	Jul. 31, 2022 CNY (¥)	Jul. 31, 2022 HKD ($)
Summary of purchase price as of the date of acquisition is comprised [Line Items]
Cash	$ 13,066	¥ 10,538
Fair value of previously held equity interests		1,293
Total		¥ 11,831	¥ 2,637	$ 3,072

Business acquisition - Details of allocation of the purchase price as of the date of acquisition is summarized as follows (Detail) ¥ in Millions, $ in Millions	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CNY (¥)	Mar. 01, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Details of allocation of the purchase price as of the date of acquisition is summarized as follows [Line Items]
Goodwill	$ 3,353	¥ 23,123		¥ 12,433	¥ 10,904
CNLP [Member]
Details of allocation of the purchase price as of the date of acquisition is summarized as follows [Line Items]
Net assets acquired			¥ 4,309
Appreciation of property, equipment and software, construction in progress and land-use rights			10,908
Goodwill			1,586
Deferred tax liabilities			(2,679)
Non-controlling interests			(2,293)
Total			¥ 11,831

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

Business acquisition - Summary of purchase price as of the date of deppon holdco acquisition (Details) ¥ in Millions	Jul. 26, 2022 CNY (¥)
Deppon Holdco [Member]
Summary of purchase price as of the date of acquisition [Line Items]
Cash	¥ 8,976

Business acquisition - Schedule of allocation of the purchase price as of the date of deppon holdco acquisition (Details) ¥ in Millions, $ in Millions	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CNY (¥)	Jul. 26, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Details of allocation of the purchase price as of the date of acquisition is summarized as follows [Line Items]
Goodwill.	$ 3,353	¥ 23,123		¥ 12,433	¥ 10,904
Deppon Holdco [Member]
Details of allocation of the purchase price as of the date of acquisition is summarized as follows [Line Items]
Net assets acquired			¥ 6,570
Appreciation of construction in progress and land use rights			15
Goodwill.			5,350
Deferred tax liabilities			(590)
Non-controlling interests			(4,714)
Total			8,976
Deppon Holdco [Member] \| Trademarks and domain names
Details of allocation of the purchase price as of the date of acquisition is summarized as follows [Line Items]
New identified and appreciation of intangible assets			1,661
Deppon Holdco [Member] \| Technology
Details of allocation of the purchase price as of the date of acquisition is summarized as follows [Line Items]
New identified and appreciation of intangible assets			676
Deppon Holdco [Member] \| Customer relationships
Details of allocation of the purchase price as of the date of acquisition is summarized as follows [Line Items]
New identified and appreciation of intangible assets			¥ 8

Business acquisition - Additional information (Details) ¥ in Millions, $ in Millions, $ in Millions				1 Months Ended		2 Months Ended	5 Months Ended		12 Months Ended
	Jul. 26, 2022 CNY (¥)	Mar. 01, 2022 HKD ($)	Feb. 28, 2022 CNY (¥)	Feb. 28, 2022 USD ($)	Feb. 28, 2022 CNY (¥)	Mar. 01, 2022 CNY (¥)	Jul. 31, 2022 CNY (¥)	Jul. 31, 2022 HKD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)	Apr. 30, 2024 shares	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CNY (¥)	Jan. 28, 2022
Business Acquisition [Line Items]
Finite-Lived Intangible Asset, Useful Life									12 years 1 month 6 days	12 years 2 months 12 days
Goodwill, Acquired During Period									¥ 11,478	¥ 1,529	¥ 4,260
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests										1,212			$ 86	¥ 590
Dada [Member]
Business Acquisition [Line Items]
Goodwill, Acquired During Period									3,144
Jd Retail [Member]
Business Acquisition [Line Items]
Goodwill, Acquired During Period									1,398	1,529	¥ 2,627
Dada Acquisition [Member]
Business Acquisition [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired			52.00%		52.00%
Finite-Lived Intangible Asset, Useful Life			7 years
Business Combination, Consideration Transferred			¥ 1,606
Cash consideration and business cooperation agreement as consideration of the acquisition \| $				$ 800
Business Combination Step Acquisition Equity Interest In Acquiree Remeasurement Gain					¥ 72
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Cash And Equivalents And Restricted Cash			4,623
Business Acquisition, Pro Forma Revenue									1,047,200	956,800
Business Acquisition, Pro Forma Net Income (Loss)									9,500	(6,300)
Cash consideration			3,452
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Premium			¥ 3,623		¥ 3,623
CNLP [Member]
Business Acquisition [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired						80.00%									26.38%
Percentage of equity in the acquiree held by the acquirer immediately before the acquisition date in a business combination						10.60%
Business Combination, Consideration Transferred						¥ 11,831	¥ 2,637	$ 3,072
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Long-term Debt						8,886
Business Combination Recognized Recognized Identifiable Assets Acquired And Liabilities Assumed Property Plant And Equipment Construction In Progress And Land Use Right						12,026
Cash consideration		$ 13,066				¥ 10,538
Deppon Holdco [Member]
Business Acquisition [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired	99.99%
Finite-Lived Intangible Asset, Useful Life	15 years 3 months 18 days
Business Combination, Consideration Transferred	¥ 8,976
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Long-term Debt	3,776
Business acquisition recognized identifiable assets and liabilities assumed current assets trade receivables	2,101
Business Acquisition, Pro Forma Revenue									1,063,200	982,800
Business Acquisition, Pro Forma Net Income (Loss)									¥ 9,700	¥ (4,500)
Business Combination Recognized Recognized Identifiable Assets Acquired And Liabilities Assumed Property Plant And Equipment Construction In Progress And Land Use Right	5,306
Business Combination Acquisition of Option Shares Pledged \| shares												43,009,184
Cash consideration	8,976
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests	589
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Short-Term Investment	¥ 1,270
Deppon Holdco [Member] \| Accrued Expenses And Other Current Liabilities [Member]
Business Acquisition [Line Items]
Business combination deferred consideration payable														575
Deppon Holdco [Member] \| Other Noncurrent Liabilities [Member]
Business Acquisition [Line Items]
Business combination deferred consideration payable														¥ 445
Deppon [Member]
Business Acquisition [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired	66.50%

Investment in equity investees (Details) - CNY (¥) ¥ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Measurement Alternative and NAV practical expedient investments
Carrying amount of investment under NAV practical expedient	¥ 7,982	¥ 7,325
Carrying values of equity investments measured at fair value using the Measurement Alternative	20,707	19,643
Measurement alternative and NAV practical expedient investments	¥ 1,683	¥ 4,787	¥ 10,201

Investment in equity investees (Details 2) ¥ in Millions, $ in Millions				1 Months Ended		3 Months Ended			12 Months Ended				48 Months Ended
	Jun. 18, 2021 CNY (¥) shares	Jun. 05, 2020 CNY (¥)	Apr. 26, 2016	Mar. 31, 2021 CNY (¥)	Jun. 30, 2020 CNY (¥)	Jun. 30, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Sep. 30, 2021 CNY (¥)	Dec. 31, 2022 USD ($) item	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2022 CNY (¥) item	Jun. 30, 2021 CNY (¥)
Equity method investments
Investments accounted for under the equity method							¥ 36,254				¥ 36,254			¥ 28,952
Equity method investment with the investment cost allocation
Carrying value of equity investment							36,254				36,254			28,952
Operating data:
Net profit/(loss)									$ 1,407	¥ 9,691	(4,467)	¥ 49,337
Balance sheet data:
Current assets							299,672		50,901		299,672			351,074
Non-current assets							196,835		35,402		196,835			244,176
Current liabilities							221,636		38,648		221,636			266,561
Non-current liabilities							28,087		7,910		28,087			54,566
Non-controlling interests							36,661		8,723		36,661			60,167
Additional paid-in capital							182,578		26,683		182,578			184,041
Impairment charges									$ 285	1,969	574	208
Equity Method Investments [Member]
Operating data:
Revenues										160,554	145,582	140,263
Gross profit										47,369	39,736	45,590
Income/(loss) from operation										(2,158)	1,877	5,157
Net profit/(loss)										(1,583)	(250)	2,680
Net income/(loss) attributable to ordinary shareholders										(1,327)	675	3,292
Balance sheet data:
Current assets							150,304				150,304			149,946
Non-current assets							140,872				140,872			142,288
Current liabilities							109,790				109,790			116,158
Non-current liabilities							49,919				49,919			54,494
Non-controlling interests							973				973			623
Share of results of equity investees
Equity method investment with the investment cost allocation
Impairment charges in connection with the equity method										1,316	5,514	488
Yonghui Group
Equity method investments
Investments accounted for under the equity method							4,592				4,592			¥ 4,056
Percentage of the equity interests on a fully diluted basis (in percentage)									13.40%					13.40%
Number of board seat held \| item									1					1
Total consideration in cash										6,462
Number of board seats \| item									9					9
Dividend received										¥ 24	25	147
Equity method investment with the investment cost allocation
Carrying value of equity investment							4,592				4,592			¥ 4,056
Proportionate share of investee's net tangible assets and intangible assets							2,225				2,225			1,768
Positive/(negative) basis difference							2,367				2,367			2,288
Positive (negative) basis difference has been assigned to goodwill							1,111				1,111			1,111
Positive (negative) basis difference has been assigned to amortizable intangible assets							1,674				1,674			1,569
Positive (negative) basis difference has been assigned to deferred tax liabilities							(418)				(418)			(392)
Weighted average remaining life of the amortizable intangible assets									13 years	13 years
Aggregate market values							4,921				4,921			¥ 4,435
Balance sheet data:
Impairment charges								¥ 1,492
Dada Group
Equity method investments
Investments accounted for under the equity method							6,075				6,075
Percentage of the issued and outstanding ordinary shares (in percentage)									46.00%					46.00%
Number of board seat held \| item									3					3
Total consideration in cash												703	¥ 3,513
Number of board seats \| item									9					9
Total consideration for equity investment												5,723	5,723
Equity method investment with the investment cost allocation
Carrying value of equity investment							6,075				6,075
Proportionate share of investee's net tangible assets and intangible assets							2,136				2,136
Positive/(negative) basis difference							3,939				3,939
Positive (negative) basis difference has been assigned to goodwill							3,893				3,893
Positive (negative) basis difference has been assigned to amortizable intangible assets							61				61
Positive (negative) basis difference has been assigned to deferred tax liabilities							(15)				(15)
Aggregate market values							9,106				9,106
Balance sheet data:
Deemed disposal gain		¥ 5,229
Dada Group \| Supply chain support
Equity method investments
Estimated useful lives (in years)			10 years
Dada Group \| Traffic and other additional support
Equity method investments
Estimated useful lives (in years)			7 years
Dada Group \| Non-compete Agreement
Equity method investments
Estimated useful lives (in years)			7 years
JD Technology
Equity method investments
Investments accounted for under the equity method														¥ 11,354	¥ 2,620
Percentage of the issued and outstanding ordinary shares (in percentage)				41.70%	36.80%
Total consideration in cash				¥ 4,000	¥ 1,780
Equity method investment with the investment cost allocation
Carrying value of equity investment														11,354	¥ 2,620
Balance sheet data:
Additional paid-in capital							(901)				(901)
Percentage of equity interest				41.70%
ATRenew
Equity method investments
Investments accounted for under the equity method							2,832				2,832			¥ 1,449
Percentage of the issued and outstanding ordinary shares (in percentage)									33.00%					33.00%
Number of board seat held \| item									2					2
Total consideration in cash	¥ 321
Number of board seats \| item									7					7
Total consideration for equity investment							129				129	¥ 4,141	¥ 4,141
Common Stock Shares Subscribed \| shares	2,333,333
Equity method investment with the investment cost allocation
Carrying value of equity investment							2,832				2,832			¥ 1,449
Proportionate share of investee's net tangible assets and intangible assets							2,209				2,209			2,080
Positive/(negative) basis difference							623				623			(631)
Positive (negative) basis difference has been assigned to goodwill							35				35
Positive (negative) basis difference has been assigned to amortizable intangible assets							784				784			(450)
Positive (negative) basis difference has been assigned to deferred tax liabilities							(196)				(196)			(181)
Aggregate market values							2,832				¥ 2,832			1,505
Gain (loss) from changes in fair value of product	¥ 2,305
Balance sheet data:
Impairment charges						¥ 1,191	¥ 3,909
ATRenew \| Ordinary shares
Equity method investments
Total consideration for equity investment														¥ 41

Accounts receivable, net (Details) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CNY (¥)
Accounts receivable
Accounts receivable		¥ 12,934			¥ 22,158
Allowance for doubtful accounts		(1,034)	¥ (566)		(1,582)
Accounts receivable, net		11,900		$ 2,983	20,576
Movements in the allowance for doubtful accounts
Balance at beginning of the year	¥ (1,034)	(566)	(318)
Additions	(615)	(535)	(331)
Write-off	67	67	83
Balance at end of the year	(1,582)	(1,034)	¥ (566)
Logistics receivables
Accounts receivable
Accounts receivable		6,204			11,063
Online retail and online marketplace receivables
Accounts receivable
Accounts receivable		5,840			9,982
Advertising receivables and others
Accounts receivable
Accounts receivable		890			¥ 1,113
Consumer financing receivables
Movements in the allowance for doubtful accounts
Additions	¥ 0	¥ 0

Inventories, net (Details) ¥ in Millions, $ in Millions	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
Inventories
Inventory, Gross		¥ 82,064	¥ 77,900
Inventory valuation allowance		(4,115)	(2,299)
Inventories, net	$ 11,302	77,949	75,601
Products
Inventories
Inventory, Gross		80,966	77,422
Packing materials and others
Inventories
Inventory, Gross		¥ 1,098	¥ 478

Property, equipment and software, net (Details) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CNY (¥)
Property, equipment and software, net
Total		¥ 50,222			¥ 69,368
Less: accumulated depreciation		(17,278)			(14,288)
Net book value		32,944		$ 7,986	55,080
Depreciation expenses	¥ 5,295	5,000	¥ 5,037
Impairment charge	¥ 0	0	¥ 0
Electronic equipment
Property, equipment and software, net
Total		11,222			2,663
Land, building and building improvement
Property, equipment and software, net
Total		21,072			40,642
Logistics,warehouse and other heavy equipment
Property, equipment and software, net
Total		10,084			14,097
Vehicles
Property, equipment and software, net
Total		2,681			5,743
Leasehold improvement
Property, equipment and software, net
Total		3,766			4,550
Office equipment
Property, equipment and software, net
Total		530			640
Software
Property, equipment and software, net
Total		¥ 867			¥ 1,033

Land use rights, net (Details) ¥ in Millions, $ in Millions	12 Months Ended
Land use rights, net (Details) ¥ in Millions, $ in Millions	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CNY (¥)
Land Use Rights, Net [Line Items]
Land use rights		¥ 15,253			¥ 35,481
Less: accumulated amortization		(925)			(1,633)
Net book value		14,328		$ 4,907	33,848
Amortization expenses	¥ 693	276	¥ 229
Amortization expenses related to the land use rights for future periods
2023					791
2024					791
2025					791
2026					791
2027					791
2028 and thereafter					¥ 29,893
Impairment charge	¥ 0	¥ 0	¥ 0

Intangible assets, net (Details) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CNY (¥)
Intangible assets, net
Weighted-Average Amortization Period (in years)	12 years 1 month 6 days	12 years 2 months 12 days
Gross Carrying Amount		¥ 10,416			¥ 14,936
Accumulated Amortization		(4,407)			(5,625)
Impairment Amount		(172)			(172)
Net Carrying Amount		5,837		$ 1,325	9,139
Amortization expenses	¥ 1,248	956	¥ 802
Intangible assets impairment charge recorded	¥ 0	¥ 0	¥ 0
Amortization expenses related to the intangible assets for future periods
2023					1,305
2024					1,188
2025					1,124
2026					979
2027					908
2028 and thereafter					3,635
Non-compete Agreement
Intangible assets, net
Weighted-Average Amortization Period (in years)	8 years	8 years
Gross Carrying Amount		¥ 2,467			2,467
Accumulated Amortization		(2,120)			(2,279)
Net Carrying Amount		¥ 347			188
Domain names and trademarks
Intangible assets, net
Weighted-Average Amortization Period (in years)	17 years 9 months 18 days	18 years 10 months 24 days
Gross Carrying Amount		¥ 4,186			6,756
Accumulated Amortization		(1,066)			(1,440)
Impairment Amount		(27)			(27)
Net Carrying Amount		¥ 3,093			5,289
Customer relationship
Intangible assets, net
Weighted-Average Amortization Period (in years)	8 years 8 months 12 days	8 years 9 months 18 days
Gross Carrying Amount		¥ 2,713			2,823
Accumulated Amortization		(454)			(765)
Impairment Amount		(60)			(60)
Net Carrying Amount		¥ 2,199			1,998
Technology and Others
Intangible assets, net
Weighted-Average Amortization Period (in years)	5 years 4 months 24 days	6 years
Gross Carrying Amount		¥ 1,050			2,890
Accumulated Amortization		(767)			(1,141)
Impairment Amount		(85)			(85)
Net Carrying Amount		¥ 198			¥ 1,664

Goodwill (Details) ¥ in Millions, $ in Millions	12 Months Ended
Goodwill (Details) ¥ in Millions, $ in Millions	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Goodwill
Additions		¥ 11,478	¥ 1,529	¥ 4,260
Impairment		0	0	0
Goodwill		25,723	15,033	13,504
Disposal of a subsidiary		(788)
Accumulated impairment loss		(2,600)	(2,600)	(2,600)
Goodwill, ending balance	$ 3,353	23,123	12,433	10,904
JD Retail
Goodwill
Additions		1,398	1,529	2,627
Goodwill		11,417	10,807	9,278
Disposal of a subsidiary		(788)
Accumulated impairment loss		(7)	(7)	(7)
Goodwill, ending balance		11,410	10,800	9,271
JD Logistics
Goodwill
Additions		5,350	0	1,633
Goodwill		6,983	1,633	1,633
Goodwill, ending balance		6,983	1,633	1,633
Dada
Goodwill
Additions		3,144
Goodwill		3,144
Goodwill, ending balance		3,144
New Businesses
Goodwill
Additions		1,586
Goodwill		4,179	2,593	2,593
Accumulated impairment loss		(2,593)	¥ (2,593)	¥ (2,593)
Goodwill, ending balance		¥ 1,586

Accounts payable (Details) ¥ in Millions, $ in Millions	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
Accounts payable
Vendor payable		¥ 126,821	¥ 112,317
Shipping charges payable and others		33,786	28,167
Total	$ 23,286	160,607	140,484
Outstanding payment obligations		¥ 16,671	¥ 20,127

Accrued expenses and other current liabilities (Details) ¥ in Millions, $ in Millions	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
Accrued expenses and other current liabilities
Deposits		¥ 18,211	¥ 17,372
Salary and welfare		11,303	8,396
Accrued administrative expenses		1,917	1,165
Rental fee payable		1,361	1,199
Professional fee		1,348	904
Payable related to employees' exercise of share-based awards		1,273	333
Liabilities for return allowances		743	618
Deferred consideration payables.		575	0
Vehicle fee		520	437
Internet data center fee		409	444
Interest payable		167	134
Others		4,743	3,466
Total	$ 6,172	¥ 42,570	¥ 34,468

Unsecured senior notes (Details) ¥ in Millions, $ in Millions	1 Months Ended	12 Months Ended
	Apr. 30, 2016 USD ($) item	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2020 CNY (¥)	Jan. 31, 2020 USD ($)	Jan. 31, 2020 CNY (¥)	Apr. 30, 2016 CNY (¥)
Unsecured senior notes
Carrying value					$ 1,482	¥ 10,224	¥ 9,386
Total principal amounts of unsecured senior notes						42,379
Unsecured senior notes
Unsecured senior notes
Number of maturities for debt issued \| item	2
Aggregate principal amount \| $	$ 1,000		$ 500							$ 1,000
Carrying value						10,224	9,386
Unamortized discount and debt issuance costs						98	101
Total principal amounts of unsecured senior notes						10,322	9,487
Debt discount											¥ 37	¥ 79
Debt issuance costs											¥ 45	¥ 36
Future principal payments for unsecured senior notes due
Due in 2026						3,482
Due in 2030						4,840
Due in 2050						2,000
Debt instrument maturity date		Apr. 29, 2021
Unsecured senior notes \| 3.875% notes due 2026
Unsecured senior notes
Aggregate principal amount \| $	$ 500
Interest rate (as a percent)	3.875%											3.875%
Carrying value						¥ 3,453	3,154
Effective interest rate (as a percent)					4.15%	4.15%
Unsecured senior notes \| 3.375% notes due 2030
Unsecured senior notes
Aggregate principal amount \| $	$ 700
Interest rate (as a percent)	3.375%											3.375%
Carrying value						¥ 4,812	4,402
Effective interest rate (as a percent)					3.47%	3.47%
Unsecured senior notes \| 4.125% notes due 2050
Unsecured senior notes
Aggregate principal amount \| $	$ 300
Interest rate (as a percent)	4.125%											4.125%
Carrying value						¥ 1,959	¥ 1,830
Effective interest rate (as a percent)					4.25%	4.25%
Unsecured senior notes \| Unsecured Senior Notes [Member]
Future principal payments for unsecured senior notes due
Debt instrument repurchase amount					$ 6	¥ 42		$ 12	¥ 78
Take as Extension					$ 5	¥ 35		$ 10	¥ 72
Unsecured Debt [Member]
Future principal payments for unsecured senior notes due
Repayments of debt \| $			$ 500
Interest Expense [Member] \| Unsecured senior notes \| Unsecured Senior Notes [Member]
Future principal payments for unsecured senior notes due
Debt Instrument Repurchased Gain		¥ 6		¥ 11

Unsecured senior notes (Details 2) - Unsecured Senior Note [Member] ¥ in Millions	Dec. 31, 2022 CNY (¥)
Within 1 year	¥ 0
Between 1 to 2 years	0
Between 2 to 3 years	0
Between 3 to 4 years	3,482
Between 4 to 5 years	0
Beyond 5 years	6,840
Total	¥ 10,322

Amount, excluding unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

Leases (Details) ¥ in Millions, $ in Millions	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
Leases
Operating lease ROU assets	$ 3,228	¥ 22,267	¥ 19,987
Operating lease liabilities-current	1,115	7,688	6,665
Operating lease liabilities-non-current	$ 2,172	14,978	13,721
Total operating lease liabilities		¥ 22,666	¥ 20,386
Weighted average remaining lease term	5 years 4 months 24 days	5 years 4 months 24 days	5 years 7 months 6 days
Weighted average discount rate	5.00%	5.00%	5.00%

Leases (Details 2) - CNY (¥) ¥ in Millions	12 Months Ended
Leases (Details 2) - CNY (¥) ¥ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases
Operating lease cost	¥ 7,951	¥ 6,763	¥ 4,903
Short-term lease cost	3,181	2,782	1,902
Total	11,132	9,545	6,805
Cash paid for operating leases	¥ 7,915	¥ 6,715	¥ 4,801

Leases (Details 3) - CNY (¥) ¥ in Millions	Dec. 31, 2022	Dec. 31, 2021
Leases
2023	¥ 7,885
2024	5,322
2025	3,417
2026	2,278
2027	1,633
2028 and thereafter	5,298
Total lease payments	25,833
Less: interest	(3,167)
Present value of operating lease liabilities	¥ 22,666	¥ 20,386

Gain on sale of development properties (Details) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2019
Gain on sale of development properties [Line Items]
Gain on sale of development properties	$ 200	¥ 1,379	¥ 767	¥ 1,649
Development Fund [Member]
Gain on sale of development properties [Line Items]
Gain on sale of development properties			112	¥ 468
Minimum
Gain on sale of development properties [Line Items]
Lease term	4 years	4 years
Maximum
Gain on sale of development properties [Line Items]
Lease term	10 years	10 years
General partner \| Development Fund [Member]
Gain on sale of development properties [Line Items]
Committed percentage of the total capital (as a percent)				40.00%
Third Party Investor \| Development Fund [Member]
Gain on sale of development properties [Line Items]
Committed percentage of the total capital (as a percent)				60.00%
Core Funds
Gain on sale of development properties [Line Items]
Gain on sale of development properties		¥ 1,289	¥ 637	¥ 1,181
Rental rate adjusted with growth rate of fair market rent	5 years	5 years		5 years	5 years
Core Funds \| General partner \| Minimum
Gain on sale of development properties [Line Items]
Committed percentage of the total capital (as a percent)	10.00%	10.00%
Core Funds \| General partner \| Maximum
Gain on sale of development properties [Line Items]
Committed percentage of the total capital (as a percent)	20.00%	20.00%
Core Funds \| Third Party Investor \| Minimum
Gain on sale of development properties [Line Items]
Committed percentage of the total capital (as a percent)	80.00%	80.00%
Core Funds \| Third Party Investor \| Maximum
Gain on sale of development properties [Line Items]
Committed percentage of the total capital (as a percent)	90.00%	90.00%

Others, net (Details) ¥ in Millions, $ in Millions	12 Months Ended
Others, net (Details) ¥ in Millions, $ in Millions	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Others, net
Gains/(losses) from fair value change of long-term investments		¥ (4,096)	¥ (7,252)	¥ 29,483
Government financial incentives		2,773	2,482	2,545
Interest income		5,742	4,213	2,753
Gains/(losses) from acquirements or disposals of business and investment	$ (516)	(3,558)	140	279
Impairment of investments	(285)	(1,969)	(574)	(208)
Foreign exchange gains/(losses), net	17	114	42	(90)
Others		(561)	359	548
Total	$ (225)	¥ (1,555)	¥ (590)	¥ 35,310

Taxation (Details) ¥ in Millions, $ in Millions		3 Months Ended	12 Months Ended			24 Months Ended			33 Months Ended	36 Months Ended		45 Months Ended	57 Months Ended	72 Months Ended
Taxation (Details) ¥ in Millions, $ in Millions	Sep. 01, 2022	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2022 CNY (¥)	Dec. 31, 2020	Dec. 31, 2017	Dec. 31, 2021	Dec. 31, 2024	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 HKD ($)	Dec. 31, 2023
Taxation
Applicable tax rate approved (as a percent)			25.00%	25.00%	25.00%
The Hong Kong profits applicable for the first tier tax rate \| $													$ 2
Beijing Jingdong Shangke Information Technology Co., Ltd. \| Software enterprise
Taxation
Number of years exempted from income tax			2 years
Number of years half exempted income tax			3 years
Beijing Wodong Tianjun Information Technology Co., Ltd. [Member] \| Software enterprise
Taxation
Number of years half exempted income tax			3 years
PRC
Taxation
Applicable tax rate approved (as a percent)			25.00%
Percentage of claiming tax deductible for research and development expense (as a percent)								150.00%
Percentage of entitled to claim announced by State Taxation Administration (as a percent)	175.00%	200.00%												175.00%
Withholding tax rate on dividend distributed by FIE			10.00%
Maximum rate of withholding tax for dividends paid by an FIE in China to its immediate holding company in Hong Kong under specified conditions			5.00%
Minimum ownership percentage of the FIE by foreign investors to qualify for withholding tax rate limit for dividends paid by an FIE in China to its immediate holding company in Hong Kong			25.00%
Accrued Withholding Tax Expenses			¥ 367
Unrecognized deferred tax liabilities of subsidiaries		¥ 4,300	¥ 4,300			¥ 4,300					¥ 4,300	¥ 4,300
PRC \| High and new technology enterprise
Taxation
Preferential income tax rate (as a percent)			15.00%
PRC \| Beijing Jingdong Shangke Information Technology Co., Ltd. \| High and new technology enterprise
Taxation
Preferential income tax rate (as a percent)						15.00%
PRC \| Beijing Jingdong Shangke Information Technology Co., Ltd. \| Software enterprise
Taxation
Preferential income tax rate (as a percent)							12.50%
PRC \| Certain enterprises located in applicable PRC regions \| Encouraged industry in the Western Regions of China
Taxation
Preferential income tax rate (as a percent)			15.00%
PRC \| Beijing Wodong Tianjun Information Technology Co., Ltd. [Member] \| Software enterprise
Taxation
Reduction percentage of preferential corporate income tax rate			50.00%
PRC \| Sales of audio, video products and books
Taxation
Statutory VAT rate (as a percent)												9.00%
PRC \| Sales of other products
Taxation
Statutory VAT rate (as a percent)									13.00%
PRC \| Logistics services
Taxation
Statutory VAT rate (as a percent)			6.00%									9.00%
PRC \| Online advertising and other services
Taxation
Statutory VAT rate (as a percent)			6.00%
Percentage of cultural undertaking development fees			3.00%
PRC \| Value Added Tax [Member]
Taxation
Reduction percentage of cultural undertaking development fees										50.00%
Republic of Indonesia
Taxation
Profit tax rate (as a percent)											22.00%
Hong Kong \| Profit Above Two Million Hon Kong Dollar [Member]
Taxation
Profit tax rate (as a percent)			16.50%
Hong Kong \| Profit Below Two Million Hong kong Dollar [Member]
Taxation
Profit tax rate (as a percent)			8.25%
Singapore
Taxation
Profit tax rate (as a percent)											17.00%

Taxation (Details 2) ¥ in Millions, $ in Millions	12 Months Ended
Taxation (Details 2) ¥ in Millions, $ in Millions	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Income/(loss) before tax
Income from Chinese mainland operations		¥ 16,800	¥ 14,518	¥ 15,803
Income/(loss) from non-Chinese mainland operations		(2,933)	(17,098)	35,016
Total income/(loss) before tax	$ 2,012	13,867	(2,580)	50,819
Income tax benefits/(expenses) applicable to Chinese mainland operations
Current income tax expenses		(4,418)	(2,538)	(2,201)
Deferred tax benefits		732	651	719
Subtotal income tax expenses applicable to Chinese mainland operations		(3,686)	(1,887)	(1,482)
Income tax expenses applicable to non-Chinese mainland operations
Current income tax expenses		(307)	0	0
Deferred tax expenses		(183)	0	0
Subtotal income tax expenses applicable to non-Chinese mainland operations		(490)	0	0
Total income tax expenses	$ (605)	¥ (4,176)	¥ (1,887)	¥ (1,482)

Taxation (Details 3) - CNY (¥) ¥ / shares in Units, ¥ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of differences between statutory tax rate and effective tax rate
Statutory income tax rate (as a percent)	25.00%	25.00%	25.00%
Tax effect of preferential tax rates and tax holiday	(19.30%)	86.00%	(2.30%)
Tax effect of tax-exempt entities (as a percent)	12.10%	(143.70%)	(16.80%)
Effect on tax rates in different tax jurisdiction (as a percent)	(3.20%)	(2.30%)	(0.50%)
Tax effect of non-deductible expenses (as a percent)	4.00%	(13.80%)	0.50%
Tax effect of non-taxable income (as a percent)	(0.40%)	1.40%	0.00%
Tax effect of Super Deduction and others (as a percent)	(19.00%)	105.90%	(4.20%)
Changes in valuation allowance (as a percent)	28.30%	(131.60%)	1.20%
Effect on withholding income tax	2.60%	0.00%	0.00%
Effective tax rates (as a percent)	30.10%	(73.10%)	2.90%
Effect of tax holiday
Tax holiday effect	¥ 2,677	¥ 2,219	¥ 1,153
Effect of tax holiday on basic net income/(loss) per share	¥ 0.86	¥ 0.71	¥ 0.38
Effect of tax holiday on diluted net income/(loss) per share	¥ 0.84	¥ 0.71	¥ 0.37
Deferred tax assets
Net operating loss carry forwards and others	¥ 12,715	¥ 6,303
Deferred revenues	472	553
Inventory valuation allowance	1,029	575
Allowance for doubtful accounts	1,001	603
Unrealized fair value losses for certain investments	595	747
Less: valuation allowance	(14,276)	(7,670)	¥ (4,289)	¥ (3,674)
Net deferred tax assets	1,536	1,111
Deferred tax liabilities
Intangible assets arisen from business combination	5,598	1,454
Withholding tax on undistributed earnings	183	0
Accelerated tax depreciation and others	730	443
Total deferred tax liabilities	6,511	¥ 1,897
Company's subsidiaries incorporated in Singapore and Hong Kong
Net operating loss carry forwards
Net operating loss carry forwards	8,425
Company's subsidiaries, consolidated VIEs and VIEs' subsidiaries established in PRC and Indonesia
Net operating loss carry forwards
Net operating loss carry forwards	¥ 33,632

Taxation (Details 4) - CNY (¥) ¥ in Millions	12 Months Ended
Taxation (Details 4) - CNY (¥) ¥ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Taxation
Balance at beginning of the Year	¥ 7,670	¥ 4,289	¥ 3,674
Additions	7,694	5,052	4,393
Reversals	(1,088)	(1,671)	(3,778)
Balance at end of the Year	¥ 14,276	¥ 7,670	¥ 4,289

Financing for major subsidiaries (Details) $ / shares in Units, ¥ in Millions, $ in Millions, $ in Millions			1 Months Ended		5 Months Ended	12 Months Ended
	Apr. 01, 2022 USD ($)	Apr. 01, 2022 HKD ($)	May 31, 2021 $ / shares shares	Dec. 31, 2020 CNY (¥) shares	Sep. 30, 2021 CNY (¥)	Dec. 31, 2022 CNY (¥) shares	Dec. 31, 2021 USD ($) shares	Dec. 31, 2020 CNY (¥) shares	Sep. 30, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Sep. 30, 2021 USD ($)	Dec. 31, 2020 $ / shares	Aug. 31, 2020 CNY (¥)	May 31, 2019 CNY (¥)
Common Stock [Member]
Issuance of ordinary shares (in shares) \| shares						2,164,236	1,914,998	155,850,684
JD Health \| IPO
Sale of stock net consideration received on the transaction				¥ 25,700
JD Health \| IPO \| Common Stock [Member]
Issuance of ordinary shares (in shares) \| shares				439,185,000
Sale of stock issue price per share \| $ / shares												$ 70.58
JD Logistics [Member]
Ownership percentage, on a fully-diluted (as a percentage)						63.56%
Issuance non controlling interest						¥ 2,221
Additional Paid in Capital, Preferred Stock						295
JD Logistics [Member] \| IPO
Issuance non controlling interest										¥ 6,100
Additional Paid in Capital, Preferred Stock										16,800
Sale of stock net consideration received on the transaction					¥ 22,900
JD Logistics [Member] \| IPO \| Common Stock [Member]
Issuance of ordinary shares (in shares) \| shares			700,534,900
Sale of stock issue price per share \| $ / shares			$ 40.36
JD Logistics [Member] \| JDL Placement [Member]
Sale of stock net consideration received on the transaction \| $		$ 3,102
JD Logistics [Member] \| JD Subscription [Member]
Sale of stock net consideration received on the transaction \| $	$ 692
Series A Preferred Shares \| JD Health
Total amount received by issuance of the non-redeemable preferred preference shares													¥ 6,500	¥ 6,500
Issuance non controlling interest				¥ 11,800				¥ 11,800
Additional Paid in Capital, Preferred Stock				26,700				26,700
Series A Preferred Shares \| JD Industry [Member]
Total amount received by issuance of the non-redeemable preferred preference shares \| $											$ 335
Series A Preferred Shares \| JD Property [Member]
Total amount received by issuance of the non-redeemable preferred preference shares \| $							$ 703
Issuance non controlling interest										3,100
Additional Paid in Capital, Preferred Stock										¥ 1,300
Series B Preferred Shares \| JD Health
Total amount received by issuance of the non-redeemable preferred preference shares													¥ 6,300	¥ 6,300
Series B Preferred Shares \| JD Property [Member]
Total amount received by issuance of the non-redeemable preferred preference shares \| $									$ 803
Issuance non controlling interest						3,900
Additional Paid in Capital, Preferred Stock						¥ 1,400
Series A1Preferred Stock \| JD Industry [Member]
Total amount received by issuance of the non-redeemable preferred preference shares \| $											$ 335
Issuance non controlling interest				510				510
Additional Paid in Capital, Preferred Stock				¥ 1,792				¥ 1,792

Ordinary shares (Details) - USD ($) $ in Millions			1 Months Ended
Ordinary shares (Details) - USD ($) $ in Millions	Jun. 29, 2022	May 10, 2019	Jul. 31, 2022	Jun. 30, 2021	Jun. 30, 2020	May 31, 2020	May 31, 2019	Dec. 31, 2022	Dec. 31, 2021
RSUs and share options
Ordinary shares
Ordinary shares reserved for issuance								90,955,190	124,045,978
Class A ordinary shares \| Huang River Investment Limited
Ordinary shares
Shares Issued			2,164,236	1,914,998		2,938,584	8,127,302
Class A ordinary shares \| Huang River Investment Limited \| Transaction with Tencent
Ordinary shares
Business combination, consideration transferred	$ 220	$ 250
Class A ordinary shares \| HKSE
Ordinary shares
Shares Issued					152,912,100

Dividends - Additional Information (Details) $ / shares in Units, ¥ in Millions, $ in Millions		12 Months Ended
	May 04, 2022 USD ($) $ / shares	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Common stock, dividends, per share, cash paid	$ 0.63
Dividends	$ 2,000		¥ 12,994
Payments of ordinary dividends, common stock		$ 1,897	¥ 13,087	¥ 0	¥ 0
American Depositary Share [Member]
Common stock, dividends, per share, cash paid	$ 1.26

Share repurchase program (Details) $ / shares in Units, ¥ in Millions, $ in Millions		12 Months Ended
	Mar. 31, 2020 USD ($)	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2022 CNY (¥) shares	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2021 CNY (¥) shares	Dec. 31, 2020 USD ($) $ / shares shares	Dec. 31, 2020 CNY (¥) shares	Nov. 30, 2021 USD ($)
Shares repurchased during the year \| ¥			¥ 1,823		¥ 5,246		¥ 312
ADS \| 2020 Share repurchase program
Authorized amount	$ 2,000
Repurchase period (in months)	24 months
Shares repurchased during the year (in ADS shares) \| shares		5,010,203	5,010,203	10,214,827	10,214,827	1,191,370	1,191,370
Shares repurchased during the year		$ 286	¥ 1,823	$ 806	¥ 5,246	$ 44	¥ 312
Weighted average repurchase price (in dollars per ADS) \| $ / shares		$ 57.14		$ 78.92		$ 37.04
Share Repurchase Authorization				$ 3,000				$ 2,000

Other comprehensive income (Details) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Composition of accumulated other comprehensive income/(loss)
Balance		¥ 245,572	¥ 204,486	¥ 84,660
Balance	$ 39,659	273,533	245,572	204,486
Foreign currency translation adjustments
Composition of accumulated other comprehensive income/(loss)
Balance		(6,090)	(3,548)	4,108
Other comprehensive income/(loss)		5,131	(2,542)	(7,656)
Balance		(959)	(6,090)	(3,548)
Net unrealized gains/(losses) on available-for-sale securities
Composition of accumulated other comprehensive income/(loss)
Balance				55
Other comprehensive income/(loss)				(55)
Accumulated other comprehensive income/(loss)
Composition of accumulated other comprehensive income/(loss)
Balance		(6,090)	(3,548)	4,163
Other comprehensive income/(loss)		5,131	(2,542)	(7,711)
Balance		¥ (959)	¥ (6,090)	¥ (3,548)

Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.

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-Paragraph 15
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=128097895&loc=SL121327923-165333

Share-based compensation (Details) - CNY (¥) ¥ in Millions	12 Months Ended
Share-based compensation (Details) - CNY (¥) ¥ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based compensation
Share-based compensation expenses	¥ 7,548	¥ 9,134	¥ 4,156
Cost of revenues
Share-based compensation
Share-based compensation expenses	143	102	98
Fulfillment
Share-based compensation
Share-based compensation expenses	930	882	646
Marketing
Share-based compensation
Share-based compensation expenses	631	586	347
Research and development
Share-based compensation
Share-based compensation expenses	1,557	1,781	1,400
General and administrative
Share-based compensation
Share-based compensation expenses	¥ 4,287	¥ 5,783	¥ 1,665

Share-based compensation (Details 2) ¥ / shares in Units, $ / shares in Units, ¥ in Millions, $ in Millions		12 Months Ended
	Oct. 31, 2020 $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2022 CNY (¥) ¥ / shares shares	Dec. 31, 2022 USD ($) $ / shares $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2021 CNY (¥) ¥ / shares shares	Dec. 31, 2021 USD ($) $ / shares	Dec. 31, 2020 USD ($) $ / shares shares	Dec. 31, 2020 CNY (¥) shares	Dec. 31, 2019 USD ($) $ / shares shares	Dec. 31, 2022 CNY (¥) shares
Additional disclosures
Share-based compensation expenses \| ¥			¥ 7,548			¥ 9,134			¥ 4,156
Share Incentive Plan \| Employee and non-employee
Share-based compensation
Number of ordinary shares available for future grants		194,927,210		194,927,210							194,927,210
Share Incentive Plan \| Employee and non-employee \| RSU
Share-based compensation
Vesting schedule		4 years	4 years
Share Incentive Plan \| Employee and non-employee \| RSU \| Service-based
Number of Shares
Unvested at the beginning of the year (in shares)		95,108,866	95,108,866		108,269,242	108,269,242		100,831,204	100,831,204
Granted (in shares)		13,951,100	13,951,100		30,069,498	30,069,498		42,621,084	42,621,084
Vested (in shares)		(23,123,292)	(23,123,292)		(23,834,466)	(23,834,466)		(20,632,596)	(20,632,596)
Forfeited or cancelled		(14,295,620)	(14,295,620)		(19,395,408)	(19,395,408)		(14,550,450)	(14,550,450)
Unvested at the end of the year (in shares)		71,641,054	71,641,054		95,108,866	95,108,866		108,269,242	108,269,242	100,831,204
Weighted-Average Grant-Date Fair Value
Unvested at the beginning of the year (in dollars per share) \| $ / shares		$ 25.89			$ 19.62			$ 15.35
Granted (in dollars per share) \| $ / shares		29.81			39.93			26.44
Vested (in dollars per share) \| $ / shares		23.04			18.89			15.25
Forfeited or cancelled \| $ / shares		25.94			21.3			16.13
Unvested at the end of the year (in dollars per share) \| $ / shares		$ 27.56			$ 25.89			$ 19.62		$ 15.35
Additional disclosures
Share-based compensation expenses \| ¥			¥ 3,877			¥ 4,129			¥ 3,085
Unrecognized share-based compensation expense related to awards other than options \| ¥											¥ 5,735
Weighted-average period over which share-based compensation expense is expected to be recognized		3 years 8 months 12 days	3 years 8 months 12 days
Total fair value of RSUs vested		$ 706	¥ 4,590		$ 973	6,359		$ 494	3,458
Total intrinsic value of RSUs vested		$ 706	¥ 4,590		$ 973	¥ 6,359		$ 494	¥ 3,458
Share Incentive Plan \| Employee and non-employee \| Options \| Service-based
Number of share options
Outstanding at the beginning of the year (in shares)		2,937,112	2,937,112		4,907,060	4,907,060		10,224,124	10,224,124
Granted (in shares)		0	0		0	0		0	0
Exercised (in shares)		(620,476)	(620,476)		(1,962,856)	(1,962,856)		(5,073,294)	(5,073,294)
Forfeited or cancelled		(2,500)	(2,500)		(7,092)	(7,092)		(243,770)	(243,770)
Outstanding at the end of the year (in shares)		2,314,136	2,314,136		2,937,112	2,937,112		4,907,060	4,907,060	10,224,124
Vested and expected to vest at the end of the year (in shares)		2,298,132		2,298,132							2,298,132
Exercisable at the end of the year (in shares)		2,247,452		2,247,452							2,247,452
Weighted Average Exercise Price
Outstanding at the beginning of the year (in dollars per share) \| $ / shares		$ 6.95			$ 6.38			$ 6.39
Exercised (in dollars per share) \| $ / shares		5.7			5.49			6.23
Forfeited or cancelled (in dollars per share) \| $ / shares		3.96			13.42			10.24
Outstanding at the end of the year (in dollars per share) \| $ / shares		7.29			$ 6.95			$ 6.38		$ 6.39
Vested and expected to vest at the end of the year (in dollars per share) \| $ / shares		7.25		$ 7.25
Exercisable at the end of the year (in dollars per share) \| $ / shares		$ 7.12		$ 7.12
Weighted Average Remaining Contractual Term (years)
Outstanding at the end of the year		2 years 2 months 12 days	2 years 2 months 12 days		2 years 10 months 24 days	2 years 10 months 24 days		3 years	3 years	4 years 3 months 18 days
Vested and expected to vest at the end of the year		2 years 2 months 12 days	2 years 2 months 12 days
Exercisable at the end of the year		2 years 1 month 6 days	2 years 1 month 6 days
Aggregate Intrinsic Value
Outstanding at the end of the year (in dollars) \| $		$ 48		$ 48	$ 82		$ 82	$ 184		$ 115
Vested and expected to vest at the end of the year (in dollars) \| $		48		48
Exercisable at the end of the year (in dollars) \| $		$ 47		$ 47
Additional disclosures
Weighted-average period over which share-based compensation expense is expected to be recognized		1 year 10 months 24 days	1 year 10 months 24 days
Total intrinsic value of options exercised		$ 14	¥ 98		$ 70	¥ 453		$ 111	¥ 762
Share Incentive Plan \| Non-employees \| RSU \| Service-based
Number of Shares
Unvested at the beginning of the year (in shares)		8,208,616	8,208,616
Unvested at the end of the year (in shares)		5,526,834	5,526,834		8,208,616	8,208,616
Share Incentive Plan \| Non-employees \| Options \| Service-based
Number of share options
Outstanding at the beginning of the year (in shares)		167,206	167,206
Outstanding at the end of the year (in shares)		78,706	78,706		167,206	167,206
Share Incentive Plan \| Year two \| Employee and non-employee \| RSUs and options
Share-based compensation
Vesting schedule		2 years	2 years
Vesting percentage (as a percent)		50.00%	50.00%
Share Incentive Plan \| Year three \| Employee and non-employee \| RSUs and options
Share-based compensation
Vesting percentage (as a percent)		33.00%	33.00%
Share Incentive Plan \| Year four \| Employee and non-employee \| RSUs and options
Share-based compensation
Vesting percentage (as a percent)		25.00%	25.00%
Share Incentive Plan \| Year five \| Employee and non-employee \| RSUs and options
Share-based compensation
Vesting percentage (as a percent)		20.00%	20.00%
Share Incentive Plan \| Year six \| Employee and non-employee \| RSUs and options
Share-based compensation
Vesting schedule		6 years	6 years
Vesting percentage (as a percent)		17.00%	17.00%
Share Incentive Plan \| Year ten \| Employee and non-employee \| RSUs and options
Share-based compensation
Vesting schedule		10 years	10 years
Vesting percentage (as a percent)		10.00%	10.00%
Jd Logistics Plan [Member] \| Employee and non-employee \| RSU
Number of Shares
Granted (in shares)		41,570,538	41,570,538		9,663,953	9,663,953
Weighted-Average Grant-Date Fair Value
Granted (in dollars per share) \| $ / shares				$ 18.23			$ 35
Additional disclosures
Share-based compensation expenses \| ¥			¥ 259			¥ 39
Unrecognized share-based compensation expense related to awards other than options \| ¥											¥ 412
Weighted-average period over which share-based compensation expense is expected to be recognized		3 years 3 months 18 days	3 years 3 months 18 days
Jd Logistics Plan [Member] \| Employee and non-employee \| Options
Number of share options
Granted (in shares)					30,030,446	30,030,446		224,511,105	224,511,105
Additional disclosures
Share-based compensation expenses \| ¥			¥ 702			¥ 1,162			¥ 640
Unrecognized share-based compensation expense related to options \| ¥											970
Weighted-average period over which share-based compensation expense is expected to be recognized		3 years 7 months 6 days	3 years 7 months 6 days
Jd Logistics Plan [Member] \| Liu [Member] \| Options
Share-based compensation
Vesting schedule	6 years
Vesting percentage (as a percent)	16.70%
Number of share options
Granted (in shares)	99,186,705
Weighted Average Exercise Price
Granted (in dollars per share) \| $ / shares	$ 0.01
JD Health Plan [Member] \| Employee and non-employee \| RSU
Number of Shares
Granted (in shares)		4,638,422	4,638,422		80,582,712	80,582,712
Weighted-Average Grant-Date Fair Value
Granted (in dollars per share) \| $ / shares				$ 52.33			$ 112.31
Additional disclosures
Weighted-average period over which share-based compensation expense is expected to be recognized		3 years 10 months 24 days	3 years 10 months 24 days
JD Health Plan [Member] \| Employee and non-employee \| RSU \| Service-based
Additional disclosures
Share-based compensation expenses \| ¥			¥ 1,108			¥ 1,428
Unrecognized share-based compensation expense related to awards other than options \| ¥											1,609
JD Property [Member] \| Employee and non-employee \| RSU
Number of Shares
Granted (in shares)					193,059,698	193,059,698
Weighted-Average Grant-Date Fair Value
Granted (in dollars per share) \| ¥ / shares						¥ 2.42
Additional disclosures
Share-based compensation expenses \| ¥						¥ 467
Jd Industrials Plan [Member] \| Employee and non-employee \| RSU
Number of Shares
Granted (in shares)					90,629,636	90,629,636
Weighted-Average Grant-Date Fair Value
Granted (in dollars per share) \| $ / shares					$ 1.18
Additional disclosures
Share-based compensation expenses \| ¥						¥ 684
Jd Industrials Plan [Member] \| Employee and non-employee \| Options
Number of Shares
Granted (in shares)		2,660,000	2,660,000
Weighted Average Exercise Price
Granted (in dollars per share) \| $ / shares		$ 1.4
Additional disclosures
Share-based compensation expenses \| ¥			¥ 7
Unrecognized share-based compensation expense related to options \| ¥											12
Weighted-average period over which share-based compensation expense is expected to be recognized		3 years 3 months	3 years 3 months
Jd Industrials Plan [Member] \| Liu [Member]
Number of Shares
Granted (in shares)					90,629,636	90,629,636
JD Property Plan [Member] \| Employee and non-employee \| Options
Number of Shares
Granted (in shares)		108,399,512	108,399,512
Weighted-Average Grant-Date Fair Value
Granted (in dollars per share) \| ¥ / shares			¥ 4.03
Additional disclosures
Share-based compensation expenses \| ¥			¥ 354
Unrecognized share-based compensation expense related to awards other than options \| ¥											¥ 50
Weighted-average period over which share-based compensation expense is expected to be recognized		3 years	3 years
JD Property Plan [Member] \| Liu [Member] \| RSU
Number of share options
Granted (in shares)					193,059,698	193,059,698
JD Property Plan [Member] \| Liu [Member] \| Options
Number of share options
Granted (in shares)		81,446,610	81,446,610
Weighted Average Exercise Price
Granted (in dollars per share) \| $ / shares		$ 0.0000005

Share-based compensation (Details 3) ¥ in Millions		1 Months Ended	12 Months Ended
Share-based compensation (Details 3) ¥ in Millions	Oct. 31, 2020 $ / shares shares	May 31, 2015 $ / shares shares	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥) shares	Dec. 31, 2021 $ / shares	Dec. 31, 2020 CNY (¥) shares	Dec. 31, 2020 $ / shares
Share-based compensation
Share-based compensation expenses			¥ 7,548	¥ 9,134		¥ 4,156
Share Incentive Plan \| Options \| Founder
Share-based compensation
Vesting schedule		10 years
Share-based compensation expenses			54	¥ 73		¥ 104
Unrecognized share-based compensation expense related to the share options granted			¥ 63
Weighted-average period over which share-based compensation expense is expected to be recognized			2 years 4 months 24 days
Share Incentive Plan \| Options \| Founder \| Each anniversary
Share-based compensation
Vesting percentage (as a percent)		10.00%
Share Incentive Plan \| Options \| Founder \| Class A ordinary shares
Share-based compensation
Granted (in shares) \| shares		26,000,000
Exercise price \| $ / shares		$ 16.7
Share Incentive Plan \| Options \| Founder \| ADS
Share-based compensation
Exercise price \| $ / shares		$ 33.4
JD Logistics Plan \| Options \| Employees and Non-employees
Share-based compensation
Granted (in shares) \| shares				30,030,446		224,511,105
Share-based compensation expenses			¥ 702	¥ 1,162		¥ 640
Weighted average grant date fair value of options granted \| $ / shares					$ 4.31		$ 2
Unrecognized share-based compensation expense related to the share options granted			¥ 970
Weighted-average period over which share-based compensation expense is expected to be recognized			3 years 7 months 6 days
JD Logistics Plan \| Options \| Liu
Share-based compensation
Granted (in shares) \| shares	99,186,705
Exercise price \| $ / shares	$ 0.01
Vesting schedule	6 years
Vesting percentage (as a percent)	16.70%
JD Health \| Options \| Employees and Non-employees
Share-based compensation
Granted (in shares) \| shares						94,770,812
Share-based compensation expenses			¥ 960	¥ 1,133		¥ 331
Weighted average grant date fair value of options granted \| $ / shares							$ 7.45
Unrecognized share-based compensation expense related to the share options granted			¥ 1,165
Weighted-average period over which share-based compensation expense is expected to be recognized			4 years 8 months 12 days
JD Health \| Options \| Liu
Share-based compensation
Granted (in shares) \| shares	53,042,516
Exercise price \| $ / shares	$ 0.0000005
Vesting schedule	6 years
Vesting percentage (as a percent)	16.70%

Net income/(loss) per share (Details) - CNY (¥) ¥ / shares in Units, ¥ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Numerator:
Net income/(loss) attributable to ordinary shareholders — basic	¥ 10,380	¥ (3,560)	¥ 49,405
Impact of subsidiaries' diluted earnings	(170)	(2)	(157)
Net income/(loss) attributable to ordinary shareholders — diluted	¥ 10,210	¥ (3,562)	¥ 49,248
Denominator:
Weighted average number of shares — basic	3,125,571,110	3,107,436,665	3,021,808,985
Adjustments for dilutive options and RSUs	55,315,026	0	87,215,045
Weighted average number of shares — diluted	3,180,886,136	3,107,436,665	3,109,024,030
Basic net income/(loss) per share attributable to ordinary shareholders	¥ 3.32	¥ (1.15)	¥ 16.35
Diluted net income/(loss) per share attributable to ordinary shareholders	¥ 3.21	¥ (1.15)	¥ 15.84

Net income/(loss) per share (Details 2) - shares	12 Months Ended
Net income/(loss) per share (Details 2) - shares	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Non-vested ordinary shares, RSUs and options
Anti-dilutive securities
Anti-dilutive securities	105,899,185	127,098,868	138,762,892

Related party transactions (Details) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥) shares	Dec. 31, 2020 CNY (¥)	Dec. 31, 2022 USD ($) shares	Dec. 31, 2022 CNY (¥) shares	Mar. 31, 2022 shares	Jun. 18, 2020 shares
Related party transactions
Amount due to related parties		¥ (519)		$ (71)	¥ (488)
Amount due from related parties		5,272			5,577
Amount due from related parties		¥ 5,500		$ 891	¥ 6,142
Tencent Group [Member]
Related party transactions
Noncontrolling interest, ownership percentage by parent						2.30%
Common Class A [Member]
Related party transactions
Common stock, shares, issued \| shares		2,731,123,330		2,793,298,344	2,793,298,344		152,912,100
Common Class A [Member] \| Tencent Group [Member]
Related party transactions
Common stock, shares, issued \| shares						460,000,000
Tencent Group
Related party transactions
Amount due from related parties		¥ 1,956			¥ 0
Tencent Group \| Commission service revenue from cooperation on advertising business
Related party transactions
Revenues	¥ 44	248	¥ 355
Tencent Group \| Services provided and products sold
Related party transactions
Revenues	77	553	375
Tencent Group \| Services received and purchases
Related party transactions
Operating expenses	1,314	5,010	3,226
Dada Group
Related party transactions
Amount due to related parties		(337)			0
Dada Group \| Services received
Related party transactions
Revenues	135	523	179
Operating expenses	212	1,087	2,200
Dada Group \| Traffic support, marketing and promotion services
Related party transactions
Deferred revenues in relation to traffic support, marketing and promotion services to be provided to related parties		(83)			0
Dada Group \| Non-compete agreement
Related party transactions
Other income	13	77	82
Other liabilities		(101)			0
ATRenew Group
Related party transactions
Amount due to related parties		(45)			0
Amount due from related parties					22
ATRenew Group \| Services provided and products sold
Related party transactions
Revenues	806	894	664
ATRenew Group \| Services received
Related party transactions
Operating expenses	4	31	32
ATRenew Group \| Traffic support, marketing and promotion services
Related party transactions
Deferred revenues in relation to traffic support, marketing and promotion services to be provided to related parties		(1,038)			(610)
JD Technology
Related party transactions
Amount of over-due receivable transferred	237	77	493
JD Technology \| Services provided and products sold
Related party transactions
Revenues	1,044	882	598
JD Technology \| Payment processing and other services received
Related party transactions
Operating expenses	11,494	8,762	6,945
Amount due to related party for payment processing services	1,627	1,985	1,721
JD Technology \| Loan
Related party transactions
Other income	301	253	31
Amount due from related parties		2,876			3,378
JD Technology \| Other receivables from/(payables to)
Related party transactions
Amount due from related parties		(416)			(637)
JD Technology \| Finance receivables past due over certain agreed period of time
Related party transactions
Accounts receivables transferred without recourse and derecognized	50,282	43,299	¥ 33,406
Related party transaction, Amounts of transaction	¥ 1,462
Major related parties
Related party transactions
Amount due to related parties		(382)			0
Deferred revenues in relation to traffic support, marketing and promotion services to be provided to related parties		(1,121)			(610)
Other liabilities		(101)			0
Related parties, other than the major related parties
Related party transactions
Amount due from related parties		¥ 492			¥ 565
Amount due from related parties as a percentage of total accounts receivable, net and prepayments and other current assets		2.11%		1.58%	1.58%
Amount due to and deferred revenues in relation to traffic support, marketing and promotion services to be provided to related parties		¥ 137			¥ 488
Amount due to and deferred revenues from related parties as a percentage of total accounts payable, advance from customers, accrued expenses and other current liabilities, deferred revenues and other non-current liabilities		0.07%		0.20%	0.20%
Related parties, other than the major related parties \| Total net revenues \| Related parties concentration risk
Related party transactions
Concentration risk (as a percentage)	0.26%	0.24%	0.15%
Related parties, other than the major related parties \| Total operating expenses \| Related parties concentration risk
Related party transactions
Concentration risk (as a percentage)	0.13%	0.17%	0.28%
Property Funds [Member] \| Loan
Related party transactions
Other income	¥ 43	¥ 39	¥ 49
Amount due from related parties		769			¥ 1,746
Property Funds [Member] \| Other receivables from
Related party transactions
Amount due from related parties		87			¥ 1,068
Property Funds [Member] \| Lease and property management services received
Related party transactions
Operating expenses	¥ 1,249	¥ 1,180	¥ 838

Segment reporting (Details) ¥ in Millions, $ in Millions	12 Months Ended
Segment reporting (Details) ¥ in Millions, $ in Millions	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Net revenues	$ 151,690	¥ 1,046,236	¥ 951,592	¥ 745,802
Operating income/(loss)	2,860	19,723	4,141	12,343
Including: gain on sale of development properties	200	1,379	767	1,649
Total other income/(expense)		(5,856)	(6,721)	38,476
Income/(loss) before tax	$ 2,012	13,867	(2,580)	50,819
Operating segments
Net revenues		1,046,236	951,016	744,996
Operating income/(loss)		28,963	14,186	16,986
Inter-segment
Net revenues		(50,904)	(46,043)	(39,945)
Unallocated items
Net revenues		0	576	806
Operating income/(loss)		(9,240)	(10,045)	(4,643)
JD Retail \| Operating segments
Net revenues		929,929	866,303	693,965
Operating income/(loss)		34,852	26,613	20,611
JD Logistics [Member] \| Operating segments
Net revenues		137,402	104,693	73,375
Operating income/(loss)		528	(1,827)	1,098
Dada [Member] \| Operating segments
Net revenues		8,030
Operating income/(loss)		(1,122)
New Businesses \| Operating segments
Net revenues		21,779	26,063	17,601
Operating income/(loss)		(5,295)	(10,600)	(4,723)
Including: gain on sale of development properties		¥ 1,379	¥ 767	¥ 1,649

Segment reporting (Details 2) ¥ in Millions, $ in Millions	12 Months Ended
Segment reporting (Details 2) ¥ in Millions, $ in Millions	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Share-based compensation		¥ (7,548)	¥ (9,134)	¥ (4,156)
Total	$ 2,860	19,723	4,141	12,343
Unallocated items
Share-based compensation		(7,548)	(9,134)	(4,156)
Amortization of intangible assets resulting from assets and business acquisitions		(1,217)	(940)	(723)
Effects of business cooperation arrangements		(475)	29	236
Total		¥ (9,240)	¥ (10,045)	¥ (4,643)

Employee benefit (Details) - CNY (¥) ¥ in Millions	12 Months Ended
Employee benefit (Details) - CNY (¥) ¥ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Contribution Pension And Other Postretirements Plan Disclosure [Abstract]
Employee benefit expenses	¥ 7,627	¥ 7,894	¥ 4,580

Loan facilities and lines of credit (Details) ¥ in Millions, $ in Millions, $ in Millions	1 Months Ended			12 Months Ended
	May 31, 2022 CNY (¥)	Apr. 30, 2022 USD ($)	Feb. 28, 2022 HKD ($)	Dec. 31, 2022 USD ($) item	Dec. 31, 2022 CNY (¥) item	Feb. 28, 2023 HKD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 HKD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2021 CNY (¥)
Lines of credit and loan facilities
Proceeds from long-term borrowings				$ 2,044	¥ 14,101
Short-term debts				$ 1,761			¥ 12,146			¥ 4,368
Debt Instrument, Collateral Amount							19,765
Collateral Pledged [Member]
Lines of credit and loan facilities
Short-term debts							875
long-term borrowings							6,953
Uncollateralized [Member]
Lines of credit and loan facilities
Short-term debts							3,185
long-term borrowings							¥ 4,101
LIBOR
Lines of credit and loan facilities
Percentage over variable rate basis				0.85%	0.85%
Prime Rate [Member]
Lines of credit and loan facilities
Term (in years)				7 years			7 years	7 years
Maximum borrowing capacity under facilities							¥ 3,000
Percentage below variable rate basis				1.45%	1.45%
Undrawn balance which will be expired one month prior to the final maturity date							1,000
Proceeds from long-term borrowings					¥ 2,000
Term and Revolving Credit Facilities
Lines of credit and loan facilities
Term (in years)									5 years	5 years
Maximum borrowing capacity under facilities \| $									$ 2,000
Number of arrangers \| item				5	5
Undrawn balance which will be expired one month prior to the final maturity date \| $				$ 1,000
Proceeds from long-term borrowings \| $		$ 1,000
long-term borrowings							6,965
Term loan facility agreement
Lines of credit and loan facilities
Undrawn balance which will be expired one month prior to the final maturity date \| $								$ 15,931
Proceeds from long-term borrowings	¥ 2,741		$ 6,300
Term loan facility agreement \| Subsequent Event [Member]
Lines of credit and loan facilities
Undrawn balance which will be expired one month prior to the final maturity date \| $						$ 9,041
Term loan facility agreement \| Hong Kong Interbank Offered Rate \| Date falling 6 months from the initial utilization date
Lines of credit and loan facilities
Percentage over variable rate basis				0.70%	0.70%
Term loan facility agreement \| Hong Kong Interbank Offered Rate \| Initial Utilization date
Lines of credit and loan facilities
Percentage over variable rate basis				0.50%	0.50%
Short-term Debt
Lines of credit and loan facilities
Undrawn balance which will be expired one month prior to the final maturity date \| $								$ 6,890
Short-term debts							10
Long-Term Debt \| Prime Rate [Member]
Lines of credit and loan facilities
long-term borrowings							¥ 1,990

Loan facilities and lines of credit (Details 2) ¥ in Millions, $ in Millions	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
Debt Instrument [Line Items]
Unsecured senior notes	$ 1,482	¥ 10,224	¥ 9,386
Total Loan Facilities		42,379
Unsecured Senior Notes [Member]
Debt Instrument [Line Items]
Unsecured senior notes		10,224
Unsecured Borrowings [Member]
Debt Instrument [Line Items]
Unsecured borrowings		24,327
Secured Borrowings [Member]
Debt Instrument [Line Items]
Secured borrowings		¥ 7,828

Loan facilities and lines of credit (Details 3) - Line of Credit [Member] ¥ in Millions	Dec. 31, 2022 CNY (¥)
Debt Instrument [Line Items]
2023	¥ 885
2024	1,367
2025	3,360
2026	2,109
2027	7,619
2028 and thereafter	5,554
Total	¥ 20,894

Amount, excluding unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.