JD.com, Inc. (NASDAQ:JD) Q2 2024 Earnings Conference Call August 15, 2024 8:00 AM ET

Company Participants

Sean Zhang - Director of IR
Sandy Xu - CEO
Ian Shan - CFO

Conference Call Participants

Kenneth Fong - UBS
Ronald Keung - Goldman Sachs
Alicia Yap - Citigroup
Thomas Chong - Jefferies

Operator

Hello, and thank you for standing by for JD.com's Second Quarter and Interim 2024 Earnings Conference Call. At this time, all participants' are in listen-only mode. After management's prepared remarks, there will be a question-and-answer session. Today's conference is being recorded. If you have any objections, you may disconnect at this time.

I would now like to turn the meeting over to your host for today's conference, Sean Zhang, Director of Investor Relations. Please go ahead.

Sean Zhang

Thank you. Good day, everyone. Welcome to JD.com's second quarter and interim 2024 earnings conference call. For today's call, CEO of JD.com, Ms. Sandy Xu will kick off with her opening remarks; and our CFO, Mr. Ian Shan, will discuss the financial results. Then we'll open the call to questions from analysts.

Before turning the call over to Sandy, let me quickly cover the safe harbor. Please be reminded that during the call, our comments and responses to your questions reflect management's view as of today's only and will include forward-looking statements. Please refer to our latest safe harbor statement in the earnings press release on IR website, which applies to this call. We'll discuss certain non-GAAP financial measures. Please also refer to the reconciliation of non-GAAP measures to the comparable GAAP measures in the earnings press release. Also, please note all figures mentioned in this call are in RMB, unless otherwise stated.

Now let me turn the call over to our CEO, Sandy. Sandy, please?

Sandy Xu

Thank you, Sean. Hello, everyone. Thanks for joining us today to discuss our Q2 2024 results.

Facing a very dynamic and competitive market, we delivered a solid set of results, notably achieving the highest single-quarter non-GAAP net profit in our history. Our team did a great job executing our long-term strategy of relentlessly pursuing lower cost, higher efficiency, and best-in-class user experience. And we saw a set of key drivers of our business, including user growth, user experience, and engagement. Price competitiveness and platform ecosystem continued to move in the right direction in the quarter.

Our results speak strongly about the quality of our business and our commitment to the healthy long-term growth with financial discipline. Instead of addressing the shift in market environment with hefty subsidies for short-term top-line performance, we continue to focus on leveraging our core strengths in supply chain capabilities to offer competitive prices and better user experience, and at the same time to grow our business and profit sustainably.