Sep 13, 2018 (China Knowledge) - JD Finance is known as fintech giant and big competitor of Ant Financial. However, it rarely discloses the company's overall business data.
With the completion of JD Finance's reorganization in 2017, the financial data of JD Finance will no longer be included in the consolidated financial statement of JD.com, preventing any leak of financial data of the company. Richard Liu, the CEO of JD.com, is still JD Finance's actual controller till today.
Recently, the core data of JD Finance was exposed by a We-Media called Xinliu Caijing. JD Finance's annual revenue in 2017 reached RMB 1.65 billion, with a net loss of RMB 2.09 billion. Compared with this, the pre-tax profit of Ant Financial for the whole year of 2017 was RMB 13.19 billion, and its after-tax profit was expected to be considerable.
It's worth noting that as of Q1 2018, JD Finance's net profit was RMB 21.4 millio, achieving a gradual turnaround.
When approached for verification, the JD Finance's official replied that the data revealed is one-sided, incomplete and does not represent the overall operations of JD Finance.
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