(Yicai) Nov. 14 -- JD.Com's shares fell after the Chinese e-commerce giant said profit more than halved in the third quarter, dragged down by continued heavy investment in new businesses, especially in its food delivery venture launched earlier this year.

JD.Com [HKG: 9618] dropped 5.1 percent to HKD118.10 (USD15.20) a share as of 11.15 a.m. in Hong Kong today. Its New York-listed stock [NASDAQ: JD] fell 1.7 percent to USD30.71 yesterday.

Net profit plunged 55 percent to CNY5.3 billion (USD745.1 million) in the three months ended Sept. 30 from a year earlier, the Beijing-based company said in an earnings report released yesterday. Revenue rose 15 percent to CNY299.1 billion (USD42 billion), with that from products climbing 11 percent and from services surging 31 percent.

JD.Com posted an operating loss of CNY1.1 billion in the third quarter, versus an operating profit of CNY12 billion a year ago, with the decline mainly due to increased strategic investment in new businesses, the company said. Marketing spending jumped 111 percent to CNY21.1 billion, primarily for promoting new business initiatives.

"In the third quarter of 2025, JD Food Delivery continued to drive healthy progress," said Sandy Xu, chief executive of JD.Com. "It also continued to generate synergies with JD's core retail business, particularly in driving user growth, user shopping frequency, and cross-category purchases."

Income from new businesses, including JD Food Delivery, which the firm launched this February, JD Property Development, Jingxi, and overseas operations, soared 214 percent to CNY15.6 billion (USD2.2 billion), JD.Com noted. The food delivery business saw steady growth in gross merchandise value and order volume, while overall quarterly investment narrowed on a sequential basis.

The excessive rivalry in the food delivery market has not produced business-model innovation or added incremental value to the industry, but instead, it has disrupted pricing systems and created burdens for merchants, making it unsustainable, Xu said. JD.Com's main focus is on improving platform systems and enhancing user, merchant, and rider experience, she pointed out.

JD Retail, which includes JD Health, JD Industrials, and other operating segments, covering self-operated retail, platform operations, and advertising services, reported a revenue of CNY250.6 billion last quarter, an increase of 11 percent from a year earlier.

The national subsidy program has significantly boosted consumption since last year, especially of home appliances and computers, Xu pointed out. Beyond driving short-term demand fluctuations, it has also accelerated product innovation, digitalization, and green upgrades, she noted.

JD.Com's income from general merchandise jumped 19 percent in the third quarter from a year ago, with that from electronics and home appliances climbing 4.9 percent and from platform and advertising soaring 24 percent. The number of annual active users exceeded 700 million last month.

JD.Com will continue to leverage its advantages in products, pricing, and services to consolidate and enhance market share. For example, it will work with brands on more customized products, offering competitive pricing through scale and supply chain capabilities, and improving omnichannel shopping experiences.

As of the end of the third quarter, JD.Com had over 20 JD MALL stores nationwide and more than 100 JD Appliance City flagship stores. In addition, orders from the JD Merchandising Manager livestreaming room surged more than 150 percent during the latest Double 11 shopping festival from a year earlier.

JD Logistics saw revenue jump 24 percent to CNY55.1 billion, the fastest pace in two years, with the company accelerating its global footprint similar to other Chinese peers. On Oct. 9, it said it would buy a local instant delivery business from JD.Com for USD270 million.

Editor: Martin Kadiev