Jingdong'S Query Never Stopped.

According to the world clothing shoes and hats net, in 2018 China "

In the speech of the digital economic summit,

Liu Qiangdong, chairman and chief executive officer of the board of directors of the group, said: "in our earnings report, some figures are somewhat high, such as gross margin and cost.

"Then explained," this is just financial treatment, not making false accounts. "

The east group released its fourth quarter and full year results for fiscal 2017.

Net income in the fourth quarter of 2017 was 110 billion 200 million yuan (about 16 billion 900 million US dollars), an increase of 38.7% over the previous year, slightly higher than the analyst's estimate of 108 billion 980 million yuan.

Revenue for services and other projects in the fourth quarter of 2017 was 10 billion yuan (about 1 billion 500 million US dollars), an increase of 54.7% over the same period last year.

The fourth quarter

The total amount of the paction is 403 billion 400 million yuan.

Because earnings per ADS in earnings data were less than expected, Jingdong dropped 7% before the day.

According to Jingdong's fourth quarter and full year earnings report, although Jingdong's business revenue has maintained growth, but the overall revenue growth decline, sales costs increased, profits less than expected and other hidden worries.

These figures may indicate that Jingdong is saying goodbye to the stage of high-speed growth, which is a thorny problem that Jingdong needs to face. Because for enterprises that have not yet achieved large-scale and stable profits, the slowdown may mean a crisis.

According to the most authoritative financial news agency Bloomberg News yesterday reported on its paid terminal, Jingdong's earnings report, even after Liu Qiangdong's "financial treatment", is still difficult for investors to be satisfied.

Jingdong's profits continue to slide, which has caused tremendous pressure on its stock price. Reuters reported that Jingdong's foreign investment and competition had eroded profits which had not been enough for Jingdong, and plunged its share price.

Analysts at Wall Street made merciless criticism of the Jingdong earnings report released in March. Investors also left the stock market, leaving Jingdong shares down nearly 10%.

Bernstein, a research firm, said in a research report to its clients: "Jingdong's quarterly report is what we see as a battle of corn."

Jingdong lacks focus in new investment under the line, but wants to catch up with Alibaba.

The report continues to comment on the Jingdong investment section. "This has changed the theme of Jingdong investment into potential and vulnerability uncertainty". At the same time, Tencent's investment in vip.com and Yonghui supermarket has shown its lack of confidence in the ability of Jingdong to cope with China's hottest trend, namely the integration of Online and offline businesses into "new retail".

Seeking Alpha represents the general attitude of Wall Street investment institutions to Jingdong's earnings this year: Jingdong's stock price is overvalued, and Jingdong's story can no longer justify itself.

According to the analysis, Jingdong has lost market share in the core categories such as home appliances, electronics, fast moving products and so on, resulting in its lowest GMV growth rate since March.

At the same time, the logistics mode that Jingdong is proud of can not satisfy the fast changing demand of Chinese consumers. Even now, logistics revenue has to rely on "financial treatment" for whitening.

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