News from Changjiang Business Daily ● Shen Yourong, reporter of Changjiang Business Daily
JD.com Group disclosed its bright 2022 annual report, JD Logistics (02618. HK) has contributed a lot.
According to the annual report, in 2022, JD Logistics will achieve operating income of 137.402 billion yuan, a year-on-year increase of about 30%. Among them, the revenue of external customers reached 89.1 billion yuan, an increase of more than 50% year-on-year, accounting for more than 60% of operating income. The data shows that JD Logistics has got rid of its dependence on JD.com. The net profit attributable to shareholders of the parent company (hereinafter referred to as "net profit") was -1.090 billion yuan, a year-on-year decrease of 93%. After adjustment, its net profit was 866 million yuan, turning losses into profits year-on-year.
Last year, Liu Qiangdong, the founder of Jingdong Group, proposed "five insurances and one housing fund" including "Jingdong brother". What is the actual situation?
Data shows that including Debang, JD Logistics has 370,000 front-line employees. In 2022, JD Logistics paid 44.6 billion yuan in compensation to 370,000 front-line employees. In the past three years, the company has paid a total of 106.5 billion yuan in compensation to front-line employees.
Logistics also requires technology and innovation. In 2022, JD Logistics' R&D expenditure will exceed 3 billion yuan.
50% increase in revenue from external customers
JD Logistics withstood the pressure and handed over a good performance answer.
On the evening of March 9, the 2022 annual report disclosed by JD Logistics showed that in the past year, the company achieved operating income of 137.402 billion yuan, a year-on-year increase of 31.20%, and a net profit of -1.090 billion yuan, a significant reduction from -15.661 billion yuan in the same period of the previous year, with a reduction of 93%. After adjustment, the net profit was 866 million yuan.
In recent years, JD Logistics' operating income has continued to grow. From 2019 to 2021, the company's operating income was 49.848 billion yuan, 73.445 billion yuan and 104.693 billion yuan, respectively, a year-on-year increase of 31.57%, 47.34% and 42.55%.
In 2022, with a base of more than 100 billion, the year-on-year growth rate of the company's operating income will still exceed 30%, and it will perform well in the complex environment of 2022.
What has attracted much attention is that the income of JD Logistics has got rid of its dependence on JD.com. In 2022, the external revenue from JD.com will be about 89.1 billion yuan, accounting for 64.90% of JD.com's logistics revenue, and the year-on-year growth rate will reach 50.8%, which is significantly higher than the revenue from JD.com.
In 2022, JD.com's logistics integrated supply chain service revenue will be 77.4 billion yuan, and the revenue of other customers such as express delivery and express transportation will reach 60 billion yuan, a year-on-year increase of 78.3%. With the acquisition of Deppon Logistics, JD Logistics Express maintained a rapid growth momentum.
By the end of 2022, the number of external integration customers of JD Logistics reached 79,900, a year-on-year increase of 7.10%. In 2022, the average revenue of a single customer will reach 365,000 yuan, a year-on-year increase of 6.9%. Among the external integrated supply chain customer revenue, more than half of the customer revenue contributed more than 10 million per year; The number of external integrated supply chain customers with an annual revenue contribution of more than 100 million yuan reached 26, with an average cooperation time of more than 4 years.
It is worth paying attention to the cooperation between JD Logistics and Douyin e-commerce. JD Logistics is the first batch of logistics companies to access the Douyin e-commerce platform. By the end of 2022, JD Logistics had served more than 20,000 Douyin e-commerce platform merchants. And the cooperation with Douyin e-commerce has been extended to the supply chain business. In addition, JD Logistics has also become the official logistics partner of Kuaishou E-commerce.
The hard power of logistics enterprises lies in the strength of warehousing. By the end of 2022, JD Logistics operated more than 1,500 warehouses, more than 2,000 cloud warehouses, and more than 18,000 distribution stations and outlets, covering more than 300 prefecture-level administrative regions in 31 provinces, autonomous regions and municipalities directly under the Central Government in China. Among them, the vast majority of distribution stations and outlets are self-operated, and the total management area of the warehousing network exceeds 30 million square meters. At the same time, by the end of 2022, the company has nearly 90 bonded warehouses, direct mail warehouses and overseas warehouses around the world, with a total management area of nearly 900,000 square meters.
It is worth mentioning that in July 2022, after JD Logistics acquired Deppon Logistics, the integrated logistics network, supply chain capabilities and service quality were further improved. By the end of 2022, Deppon Logistics had nearly 9,000 outlets covering almost all districts and counties in China, 132 sorting centers with a construction area of more than 2 million square meters and more than 20,000 self-owned vehicles. From July 26 to December 31, 2022, Deppon Logistics' revenue contribution reached 14.4 billion yuan.
In addition, on August 31 last year, JD Logistics obtained the "Air Carrier Operation Certificate" issued by the Civil Aviation Administration of China, marking the official operation of JD Airlines. By the end of last year, the company's three full-freighter aircraft had achieved normal operation. In addition, through cooperation, JD Logistics has more than 1,000 air cargo routes.
4,662 employees are engaged in research and development
While continuously expanding its business, JD Logistics continues to increase its weight in technological innovation.
In 2022, JD Logistics' R&D investment will be 3.123 billion yuan, accounting for 2.27% of operating revenue. From 2019 to 2021, the company's R&D investment was 1.678 billion yuan, 2.054 billion yuan and 2.813 billion yuan, respectively, increasing year by year.
In terms of personnel investment, by the end of 2022, the number of professional R&D personnel of the company was 4,662. According to the company, R&D personnel strive to bring cutting-edge scientific breakthroughs to real-world applications, and constantly seek solutions to balance cost and efficiency and optimize experience through operation automation, operation digitalization, and intelligent decision-making.
By the end of last year, JD Logistics had obtained more than 3,500 authorized patents and software licenses, including more than 2,000 patents involving automation technology and unmanned technology.
In the eyes of the outside world, compared with peers, Jingdong "little brother" is happy. JD Logistics is one of the few logistics companies in the industry that pays "five insurances and one housing fund" for employees, and the company spends more on front-line employees.
According to the annual report, at the end of 2022, including Deppon Logistics, JD Logistics had 390,000 employees, including 370,000 front-line employees and 290,000 self-owned delivery personnel. In that year, the company paid 44.6 billion yuan in compensation for front-line employees. According to this estimate, the average salary of front-line employees is about 120,000 yuan / person.
At the end of 2020, JD.com's logistics operation team included more than 240,000 personnel responsible for distribution, warehouse operations and other customer services, and the company spent 26.1 billion yuan on front-line employees that year, with an average annual expenditure of nearly 110,000 yuan per employee.
At the end of 2021, JD Logistics had 316,000 employees, including more than 300,000 front-line employees. In that year, the salary and benefits provided by JD Logistics for front-line employees such as warehousing and distribution reached 35.8 billion yuan, an increase of nearly 10 billion yuan compared with 2020.
In summary, from 2020 to 2022, the total salary and welfare expenses of JD Logistics for front-line employees will be 106.5 billion yuan.
JD Logistics' cash flow position is better. In 2022, the company's operating cash flow was a net inflow of 11.314 billion yuan, an increase of 7.107 billion yuan over the previous year. At the end of the period, the company's book currency funds (including time deposits and restricted funds) were 34.394 billion yuan, and the corresponding long-term and short-term debts were 6.409 billion yuan.
As of the end of 2022, JD Logistics' asset-liability ratio was 50.13%.