In Part 1 of our JD series, we provided an overview of JD's history and development, past and current business strategies, and key financial statistics. In this second instalment of our JD series, we discuss the future of the JD ecosystem, with a breakdown of individual business segments, business strategies, and potential challenges going forward.
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Overview of the JD Ecosystem Going Forward
As mentioned in Part 1, we think that JD is best viewed as an ecosystem of related businesses rather than as a single business unit or e-commerce company. Up until the end of 2020, JD identified itself as consisting of two business segments: JD Retail and New Businesses, where JD Retail consisted of the company's online retail and marketplace businesses, and New Businesses referred to JD's logistics services, overseas businesses, technology initiatives, and asset management services to logistics property investors.
According to JD's Q1 2021 earnings report, the company now classifies JD Logistics as a distinct business segment separate from New Businesses.
A breakdown of JD's three business segments going forward based on the company's Q1 2021 report is shown below, while a more detailed discussion is provided in subsequent sections.
Business Segment Breakdown: JD Retail