JD Health Reports RMB 58.2 Billion Revenue in 2024, Decoding Its Integrated 'Consultation-Testing-Diagnosis-Pharmacy' Internet Healthcare Ecosystem

Expand the supply of diversified services in healthcare, elderly care, childcare, and domestic services; promote the standardized and healthy development of the platform economy to better leverage its positive role in fostering innovation, expanding consumption, and stabilizing employment... During the ongoing Two Sessions, the 2025 Government Work Report put forward these requirements for implementing special initiatives to boost consumption and stimulating the innovative vitality of the digital economy.

Previously, the “Opinions of the State Council on Promoting High-Quality Development of Service Consumption” also proposed cultivating and strengthening new service formats such as health check-ups, consultations, and management, and advancing the development of “Internet + Healthcare.”

In the healthcare sector, internet-based medical platforms have become one of the key vehicles for expanding the supply of high-quality health consumption offerings and delivering innovative health consumer services. This was further corroborated by JD Health’s 2024 annual performance report released yesterday.

The performance report shows that JD Health achieved total revenue of RMB 58.2 billion in 2024, with net profit under Non-IFRS measures reaching RMB 4.79 billion. Both revenue and net profit exceeded market expectations, particularly in the second half of 2024, when JD Health’s revenue registered faster year-on-year “double-digit” growth.

Among these, sales revenue from pharmaceuticals and health products amounted to RMB 48.8 billion, while revenue from online platforms, digital marketing, and other services reached RMB 9.4 billion. Service-oriented revenue grew by 18.9%, outpacing the overall growth rate.

JD Health’s Core Financial Data for 2024. Image source: Annual Performance Report

A review of JD Health’s key business progress over the past year, based on publicly available information from multiple channels, reveals that its steady performance growth is preciselyContinuously strengthen the online presence, vigorously expand new service offerings and business models, and ultimately build a high-quality platform for health consumption supply.results.

In terms of online services, JD Health has established a strong competitive moat.

"Specialty capability development has always been a key focus for JD Health, which has established core specialties including dermatology, psychology, and traditional Chinese medicine."

In 2024, JD Health Dermatology Hospital launched new outpatient clinics for allergies and sexually transmitted diseases, added 19 specialized dermatology studios, bringing the total number of specialized expert studios to 78. These studios cover 15 types of skin diseases, ranging from atopic dermatitis to psoriasis, with the hospital’s average daily consultation volume exceeding 10,000 cases.

In the field of mental health, JD Health has engaged in in-depth collaboration with hospitals such as the Shanghai Mental Health Center on public education, scientific research, and patient services. It has also launched “Liaoyu Xiaoyuzhou,” an AI psychological companion product based on a large language model specialized in psychology, which more flexibly integrates services including assessment and screening, psychological counseling, and psychiatric diagnosis and treatment.

In addition, JD Health added two new specialties—andrology and oncology—in 2024, thereby expanding its range of specialized services; it also drove iterative upgrades to multiple offerings, including expert consultation services and video consultations, thus diversifying its service models.

To pursue higher quality medical services, by the end of 2024, the Medical Quality Management Committee of JD Health Internet Hospital had cumulatively released standardized diagnosis and treatment pathways for 265 diseases and 16 core systems for medical quality and safety management, thereby establishing a more comprehensive, scientific, and efficient online healthcare quality management system.

Online pharmaceutical retail is a core strength of JD Health, which strives to enable patients to access affordable, high-quality medications—from common drugs to new and specialty medicines—at greater speed.

In 2024, JD Health further deepened its collaborations with pharmaceutical companies and health product suppliers, while continuously enhancing operational efficiency. Taking new specialty drugs as an example, nearly 30 new specialty drugs were launched online for the first time on JD Health in 2024, including Mounjaro, a dual-target innovative drug developed by Eli Lilly for the treatment of type 2 diabetes and weight management; Derizent, an analgesic from Daiichi Sankyo Co., Ltd.; and Feiheda, a medication under Novartis. Compared with traditional hospital access pathways, JD Health has significantly shortened the time required for patients to access these new specialty drugs.

In the medical device category, JD Health has leveraged home-based elderly care and chronic disease management scenarios as entry points to continuously enrich its product offerings in advantageous categories such as intelligent monitoring and respiratory oxygen therapy. In 2024, it also served as the platform for distributing age-friendly consumption vouchers in 19 regions, including Sichuan, Guangdong, and Henan, providing users with a wide range of high-quality age-appropriate medical devices and supplies.

Furthermore, as of the end of 2024, JD Health’s online platform had onboarded more than 100,000 third-party merchants, providing substantial supplementation to its self-operated product offerings.

Leveraging its rich, efficient, and high-quality online medical and pharmaceutical services, JD Health’s Internet Hospital recorded an average of over 490,000 daily online consultations in 2024. The platform had more than 183 million active users in 2024, a net increase of 11 million from 2023.

From the perspective of the internet healthcare industry, JD Health has built a highly differentiated online service ecosystem, forming an insurmountable competitive barrier.From a policy perspective, JD Health, as a participant in the platform economy, is one of the key entities for expanding high-quality supply in health consumption, leveraging its substantial service volume and precise user base with health-related needs.

Users’ health needs extend beyond the online realm, and JD Health is not content to rest on its existing core strengths; over the past year, it has accelerated the deployment of new service offerings and business models.

In 2024, JD Health vigorously expanded its home-delivery and in-store services, upgrading its instant retail offerings.

JD Health initially entered the at-home rapid testing market with respiratory pathogen testing. In 2024, its at-home rapid testing portfolio was further expanded: respiratory testing services were extended to 12 core cities across China, including Beijing, Shanghai, Guangzhou, and Shenzhen, covering a population of over 150 million. Additionally, 149 at-home testing services were launched, including tests for gout, diarrheal viruses, HPV, allergen screening, and complete blood count (CBC).

In September 2024, JD Health launched its “Nurse-to-Home” service, offering nearly 40 nursing services, including injections, dressing changes, blood sampling, medical consultation accompaniment, pressure ulcer care, and maternal and infant care. Upon appointment, nurses can arrive at the patient’s home within as little as one hour. Additionally, JD Health provides home medical device debugging services to users in more than 30 cities across China, covering nine major categories and nearly 1,500 SKUs, such as blood glucose meters and oxygen concentrators.

JD Health At-Home Nursing Service

Given the unique nature of imaging examinations, JD Health has introduced in-person imaging examination services. By the end of 2024, it had launched 65 service items, covering seven cities including Beijing, Zhengzhou, Shenyang, Wenzhou, Changchun, Xiangtan, and Ningde.

In terms of instant retail operations, JD Health’s “JD Medicine Express Delivery” service underwent a comprehensive upgrade in 2024: personal medical insurance account payments were enabled in 18 cities, including Shanghai, Beijing, Guangzhou, Shenzhen, Foshan, Chengdu, Zhengzhou, Shenyang, and Tianjin; the platform integrated more than 3,000 designated medical insurance pharmacies nationwide, covering a population of over 100 million. With dedicated delivery riders, the service achieved delivery times as fast as 9 minutes across more than 490 cities nationwide by the end of 2024.

Meanwhile, JD Health is continuously expanding the variety and number of its offline self-operated business formats, including newly opened health examination centers, as well as newly established traditional Chinese medicine clinics and innovative pharmacies.

In October 2024, JD Health’s “Zhiyetang” Traditional Chinese Medicine (TCM) Clinic opened its doors, introducing a new business model that integrates internet healthcare with traditional medicine. The clinic has assembled a professional TCM team led by National Medical Masters, with services covering TCM internal medicine, gynecology, spleen and stomach disorders, endocrinology, and cardiovascular and cerebrovascular conditions. It has also established the “Clinical Research Base for National Medical Master Li Diangui’s Turbid Poison Theory” and the “Renowned Physician Studio of Zhang Jingchun,” while building an integrated online-to-offline health management platform.

Within the same month, JD Pharmacy opened its first “new-type” store. It is positioned as a “new-type pharmacy” because the store has established several stringent standards: staff do not engage in sales pitching, pricing is transparent and free of hidden traps, and the focus is squarely on service. Store staff performance is not assessed based on sales targets, enabling pharmacists—who constitute the core of the staffing—to concentrate on pharmaceutical care services. By the end of 2024, JD Health had opened multiple offline new-type JD Pharmacy stores in Beijing.

JD Pharmacy's New-Format Pharmacies

Overall,JD Health’s expansion of new services and business models primarily focuses on areas characterized by high and diverse demand but lacking efficient service supply, where innovative service models hold broad prospects.

For JD Health, the most direct impact of expanding into new businesses is to enhance its service chain; particularly during the launch and gradual enrichment of at-home rapid testing and in-facility examination services,A closed-loop service model of “medical consultation + testing + diagnosis + medication” has been established in internet healthcare, more comprehensively meeting users’ health consumption needs.

Imagine this scenario: During an online consultation, physicians can issue electronic laboratory test orders based on the patient’s condition. Subsequently, blood samples or other testing specimens are collected at the patient’s home by visiting nurses or delivery couriers. Based on the test results, the physician can then prescribe medication. Patients with medication needs can purchase drugs online, enjoying a one-stop medical service experience.

"Looking further, JD Health has expanded its range of services, which not only caters to user needs but also generates greater value."

Internally, JD Health's new businesses can closely synergize with its existing core strengths.

It is understood that the nursing consumables used in the "Nurse-to-Home" service are all sourced from JD.com’s self-operated supply chain, matching the quality standards of in-hospital consumables. For a long time, JD Health’s self-operated pharmaceutical and medical device products have built a strong reputation among users, upholding the same stringent quality controls as JD.com’s other self-operated offerings. Therefore, self-operated consumables have become one of the key factors ensuring the quality of the "Nurse-to-Home" service.

Similar collaborative models include the “Zhiyetang” Traditional Chinese Medicine Clinic and its herbal medicine supply chain: a high-standard supply chain ensures that patients receive high-quality TCM diagnosis, treatment, and health services, while also providing peace of mind regarding medication safety.

Furthermore, the new pharmacy model integrates seamlessly with JD Health’s existing retail channels. If a required medication is out of stock in-store, staff can leverage JD Health’s supply chain advantages to source the product and deliver it to consumers via express courier or on-demand delivery services.

At the industry level, certain traditional business models and services have inherent drawbacks, leaving genuine room for upgrading and transformation.

In traditional brick-and-mortar pharmacies, consumers may be subject to guided purchasing due to the specialized nature of pharmaceutical knowledge. For instance, staff may disregard customers’ actual needs and recommend medications with higher prices or profit margins; promote membership cards by claiming discounts that are in fact limited, with the aim of increasing customer retention; or bundle related medications or health supplements to induce customers into purchasing non-essential products.

Purchasing medication differs from buying other commodities; more is not always better. Therefore, JD Pharmacy’s new store model aims to eliminate these drawbacks. In addition to refraining from pushing sales on consumers, the new-type pharmacies have abolished complex pricing structures such as member prices, retail prices, and discounted rates. The only price displayed on the tag is the floor price.

In accordance with policy requirements, boosting health consumption is not merely about stimulating mass consumer spending or optimizing supply-side content; it must also encompass improving the environment for health consumption. New-type pharmacies align precisely with this requirement.

Since 2025, the emergence and open-sourcing of DeepSeek have fueled robust momentum for AI technologies, particularly large language models (LLMs). The Government Work Report delivered at this year’s Two Sessions also called for the continued advancement of the “AI Plus” initiative and support for the widespread application of LLMs.

Recently, JD Health’s “Jingyi Qianxun” medical large language model has been open-sourced. This move is underpinned by the fact that “Jingyi Qianxun” has become the vertical-specific large language model with the richest application scenarios, the deepest hospital co-construction partnerships, the largest number of collaborating physicians, and the broadest user participation in the industry, pioneering the scaled, full-scenario implementation of large language models in the healthcare sector.

Since 2024, the “Jingyi Qianxun” medical large language model has accelerated its deployment, establishing products and solutions tailored for users, physicians and specialists, and healthcare institutions.

Targeting physicians, JD Health has developed an Intelligent Physician Assistant that enables clinical decision support, intelligent patient management, and clinical research functionalities. In January 2025, JD Health further launched “AI Jingyi,” a comprehensive suite of large-model products designed for online omnichannel scenarios.

“AI Jingyi” series includes AI digital avatars of medical experts, as well as a range of professional service digital humans such as AI pharmacists, AI nutritionists, and AI psychological counselors. These digital humans not only possess highly intelligent and personalized service capabilities but also provide comprehensive health management and medical services tailored to user needs.

In hospital settings, JD Health has intelligently upgraded in-hospital consultation processes to help hospitals provide patients with a more convenient medical experience; notably, the smart hospital service products co-developed with the First Affiliated Hospital of Wenzhou Medical University have begun to be promoted and applied.

In January 2025, JD Health launched “JD Zhuoyi,” a large language model product designed for comprehensive hospital-wide applications. The suite includes AI-driven solutions such as the Personal Healthcare Concierge, Physician Digital Twin, and Future Digital Hospital, which cater to patient care, clinical research for physicians, and overall hospital operations, respectively.

In addition, JD Health has successively launched AI-powered health products for users, including the AI health assistant “Kangkang,” the AI psychological companion product “Liaoyu Xiaoyuzhou,” and the “Mobile Blood Pressure Measurement” feature.

It is evident that AI can assist hospitals in optimizing management, help physicians improve the efficiency of diagnosis and decision-making, and enhance patients’ healthcare experience. Fundamentally, AI applications represented by large language models serve as the technological driving force behind the construction of a new model of health consumption.

How Can the Supply of High-Quality Health Consumption Be Expanded? Given that stakeholders across various industries differ in their starting points and strategic directions, the pathways for implementing this important policy will also vary.

JD Health’s strategic path can be briefly summarized as follows: building on its strong online service advantages, the company is vigorously expanding into new services and business models with immense potential, while leveraging the currently surging large language model (LLM) technology to accelerate its momentum. In this process, JD Health has not only met public healthcare needs but also driven its own performance growth.