Alibaba's biggest competitor, JD.com, finished its third quarter with a total turnover of 15.3 billion dollars. Net profits were about 0.4 billion. Despite these results, investors were disappointed in the growth of the online platform. It was the lowest growth since JD.com entered the stock market four years ago. Now that competition in the Chinese market is rising, JD.com has lost half of its value, which has displeased shareholders like Walmart, Google and Tencent Holding. In Q3, costs have been doubled due to large investments in R&D, fulfilment, offline retail and drones.
For the final quarter of 2018, JD.com expects an increase of about 18 to 23 per cent compared to the same quarter last year.
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