JD Logistics Inc

JD.com reported a 20.8% year-over-year increase in non-GAAP net income to RMB8.9 billion for the second quarter, even as total revenues declined 2.9% to RMB346 billion. JD Retail's gross margin expanded 1.3 percentage points to 18.5%, marking a 17th consecutive quarter of improvement, while its operating margin rose 7 basis points to a record 4.6% for a promotional season. JD Logistics revenue grew 24.3% to RMB68.1 billion, and the company repurchased approximately 69.9 million Class A ordinary shares for USD1 billion in the first half of the year. Management expects JD Retail to return to positive top-line growth in the third quarter and sees accelerated profit growth in the second half.