JD Health Reports Full-Year 2025 Revenue of RMB 73.4 Billion, Up 26.3% Year-over-Year, with 218 Million Annual Active Users

On March 5, JD Health International Inc. (stock abbreviation: “JD Health”; stock codes: 6618 [HKD counter] and 86618 [RMB counter]) released its annual results announcement for 2025. In 2025, JD Health’s total revenue reached RMB 73.4 billion, representing a year-on-year increase of 26.3%; net profit under Non-International Financial Reporting Standards (Non-IFRS) amounted to RMB 6.5 billion, up 36.3% year on year, with a net profit margin of 8.9%. Over the past year, JD Health’s revenue recorded year-on-year growth exceeding 20% for four consecutive quarters, while its 2025 Non-IFRS net profit margin hit the highest level since the company’s inception. As of December 31, 2025, JD Health’s number of annual active users over the trailing 12 months stood at 218 million, marking a new peak in user scale. All core operational metrics delivered strong performance, further consolidating the momentum of high-quality development.

In 2025, JD Health leveraged its core advantages in the pharmaceutical supply chain to deepen collaborations with brands. By empowering medical services with AI, it continuously improved operational efficiency and enriched user experience, achieving high-quality growth. Meanwhile, JD Health actively responded to the national call for developing new quality productive forces in the health consumption sector. Through an “AI + Supply Chain” model, it provided full-scenario empowerment across the “medical consultation–testing–diagnosis–medication” continuum, establishing a closed-loop service ecosystem that integrates online and offline channels as well as in-hospital and out-of-hospital care.

Cao Dong, SEC Committee Member of JD.com and CEO of JD Health, stated that as a leading innovative healthcare service provider in the industry, JD Health leverages its omni-channel pharmaceutical supply chain infrastructure, AI-empowered full-scenario health service capabilities, and a health management ecosystem spanning users’ entire life cycles. By continuously deepening its focus on core business segments, JD Health provides users with accessible, convenient, high-quality, and affordable health products, professional medical services, and digital-intelligent solutions. While achieving high-quality growth for itself, the company is actively leading the industry’s upgrade toward digitalization, intelligence, and inclusiveness.

JD Health remains committed to leveraging its “super pharmaceutical supply chain” as a core competitive advantage, fully utilizing its industry-leading omnichannel capabilities to achieve simultaneous improvements in scale and efficiency, further validating the sustainable growth potential of its synergistic “self-operated + platform + instant retail” model.

In 2025, JD Health continued to deepen its strategic collaborations with domestic and international pharmaceutical companies. Partnering with renowned firms such as Novo Nordisk, Eli Lilly China, Innovent Biologics, Bayer, Eisai China, and Menarini, JD Health carried out innovative practices in omnichannel expansion, digital marketing, and patient services, continuously improving the accessibility of new specialty drugs and innovative therapies. Its advantage as the “primary launch platform for new drugs across the entire internet” was further strengthened. Throughout 2025, JD Health launched over 100 new drugs exclusively online, marking a leapfrog growth from the more than 30 launched in 2024. These included blockbuster new drugs such as Innovent Biologics’ Xinermei®, Eisai China’s Daweike®, and three domestically produced anti-influenza viral drugs: Yisuda®, Anruiwei®, and Jikeshu®. The company’s efficient supply chain system and professional service experience earned user trust and high recognition within the industry.

In the nutritional health sector, JD Health focuses on four high-potential segments: infant and child development, nutrition for the elderly, anti-inflammatory and anti-aging solutions, and ready-to-consume tonic products. By tapping into niche market demands and collaborating with partners on content-driven and scenario-based marketing campaigns, JD Health has effectively expanded incremental growth opportunities in these niche markets. In 2025, more than 7,000 nutritional health brands achieved sales growth for three consecutive years. In the medical devices sector, JD Health continues to deepen its collaborations with global medical device brands, introducing new brands through global procurement to enrich product offerings. Meanwhile, it jointly explores an innovative “hardware + software + services + ecosystem” model with brand partners, successfully launching several co-branded custom continuous glucose monitors (CGMs) that provide one-stop services encompassing data monitoring, intelligent analytical assessment, and personalized health guidance.

In terms of instant retail and omnichannel deployment, JD Health has achieved leapfrog development. Actively responding to the national digital reform of medical insurance, JD Health has rapidly expanded its online medical insurance settlement services to 29 key cities, establishing a convenient medication purchasing process that integrates “online ordering, medical insurance payment, and rapid delivery.” By optimizing the entire chain of “supply, fulfillment, payment, and experience,” JD Health’s express medication delivery service provides users with efficient and accessible instant health services, precisely meeting user needs across diverse consumption scenarios.

In 2025, JD Health continued to refine its end-to-end service loop encompassing “medical consultation–testing–diagnosis–pharmaceuticals,” accelerated the integration of online and offline healthcare services, and built a more professional and efficient full-scenario health service system.

In the field of internet healthcare, JD Health has partnered with authoritative medical institutions such as Union Hospital affiliated to Tongji Medical College of Huazhong University of Science and Technology and Renmin Hospital of Wuhan University to explore innovative telemedicine models and the practical application of AI technology in specialized fields. JD Internet Hospital has added specialties in andrology and oncology, established specialized disease clinics within its Dermatology Center and Mental Health Center, co-established specialized disease expert studios with renowned experts and their teams, and launched over 50 standardized online diagnosis and treatment pathways for various diseases, thereby continuously enhancing its specialized diagnostic and therapeutic service capabilities.

Its industry-leading position in home-based services has been further consolidated. As of December 31, 2025, more than 21,000 nurses had joined JD Health, providing convenient home nursing services to users in over 47 cities across China. JD Home Rapid Testing has demonstrated strong growth momentum, with annual order volume increasing by 81.9% year-on-year. Its service coverage has expanded to 27 cities nationwide, offering more than 160 types of at-home testing services. JD Health also pioneered the “Hospital Testing Service” in the industry, extending the professional capabilities of hospital clinical laboratories to home settings and covering 16 core cities, including Beijing and Shanghai. During the peak flu season of 2025, orders for JD Home Rapid Testing services surged by 238% year-on-year, effectively meeting users’ needs for at-home medical testing.

In response to the national call for developing new quality productive forces in the health consumption sector, JD Health has leveraged its “AI + Supply Chain” strategy to create a seamless service loop spanning online to offline and in-hospital to out-of-hospital settings. Targeting users, physicians, and hospitals, it has launched products such as “AI Jingyi” and “JD Zhuoyi,” thereby establishing the most comprehensive AI health service matrix in the industry.

Catering to a broad user base, JD Health has developed the “AI Jingyi” product ecosystem, which encompasses more than ten categories of professional intelligent agents—including AI physicians, AI pharmacists, and AI nutritionists—as well as intelligent agents representing over 1,000 specialist physicians from top-tier (Grade A tertiary) hospitals. Among these, the AI physician “Dawei” has achieved deep integration of authoritative clinical guidelines and medical literature, providing users with 24/7 free consultative advice and traceable, evidence-based medical references. By the end of 2025, it had completed hundreds of millions of interactions, achieving an approval rate as high as 98%, thereby establishing itself as a professional AI health companion for users.

JD Health’s AI product for comprehensive hospital applications, “JD Zhuoyi,” has been successfully implemented at multiple hospitals, including the First Affiliated Hospital of Wenzhou Medical University and Union Hospital affiliated with Tongji Medical College of Huazhong University of Science and Technology. Having served over 5 million patients to date, this milestone marks the entry of its smart hospital solutions into the phase of practical application and promotion, creating a new growth engine for partner hospitals and helping the healthcare industry enhance service efficiency and quality.

In 2025, JD Health fully leveraged its platform and supply chain advantages to actively fulfill its corporate social responsibility, demonstrating the compassion of the healthcare industry through concrete actions. Throughout the year, it collaborated with public welfare organizations and charitable partners to carry out more than 30 public benefit initiatives, with total donations in cash and kind exceeding RMB 10 million. In response to emergencies such as the earthquake in Shigatse, Tibet, and the floods in the Beijing-Tianjin-Hebei region, JD Health launched precise relief efforts immediately, jointly donating over 380,000 pieces of emergency rescue supplies with partner brands, thereby ensuring the supply of medical materials to disaster-stricken areas through its efficient supply chain capabilities.

In the field of rare disease care, JD Health has continued to make significant efforts. Its Rare Disease Care Program has provided assistance to over 800 patients with rare diseases. The “Yixin Yizhan” Medical Social Work Charity Project, jointly initiated by JD Health, has offered medical visit support to more than 37,000 patient visits, effectively alleviating the difficulties these patients face in accessing medical care and obtaining medications, thereby strengthening the health safety net for vulnerable populations.

Looking ahead, JD Health will center on “experience, cost, and efficiency,” continuously strengthen its supply chain advantages, deepen strategic collaborations with leading pharmaceutical and healthcare brands, and steadily expand its market share. It will persist in innovating healthcare service models, comprehensively promote the closed-loop upgrade of “medical consultation–testing–diagnosis–pharmacy,” and deeply empower all healthcare scenarios with AI. As an industry leader, JD Health is committed to driving industrial transformation through technology, enhancing the accessibility and inclusiveness of services, and creating long-term value for users, partners, and society.

*All monetary amounts in the above financial data are in RMB unless otherwise specified.

All financial data are excerpts from the company's performance announcements, and the final version shall be subject to the full performance announcement.