Alibaba’s arch rival in the Chinese e-commerce business, JD.com, has posted impressive sales figures for the third quarter. Turnover grew by 52 percent to 44,11 billion yuan renminbi (€6.5 billion) over the prior year’s period.
The net result was, however in the red at RMB 530.8 million (€78.0 million). In the third quarter of 2014, net loss was significantly lower at RMB 164.4 million (€24.2 million).
For the fourth quarter, the group expects a sales increase in line with the first three months: JD.com targets a growth by 47-51 percent to RMB 51.0-52.5 billion (€7.5-7.7 billion).