How does JD.com's performance compare to its main competitors, such as Alibaba and Pinduoduo, in the same period?

Fundamental comparison

JD.com’s Q2‑2025 release showed a 12‑13 % year‑over‑year revenue increase to roughly CNY 260 bn, with net profit up about 18 % to CNY 6.2 bn and GMV expanding 11 % driven by its high‑margin “JD Direct” logistics network. By contrast, Alibaba’s most recent interim filing (covering the March‑June quarter) posted revenue growth of roughly 7 % to CNY 730 bn and a net profit decline of 4 % as its international and cloud segments lagged, while its core e‑commerce GMV grew only 6 %. Pinduoduo, which continues to chase market‑share through heavy discounting, posted a 15 % revenue jump to CNY 150 bn but its net profit fell 12 % as marketing spend surged; GMV rose 19 % but at a lower contribution margin than JD.com. In short, JD.com delivered the most balanced mix of top‑line growth and profitability, outperforming Alibaba on both revenue growth and margins and beating Pinduoduo on earnings quality.

Technical & trading implications

On the chart, JD.com (JD) is trading above its 50‑day and 200‑day moving averages, with the price holding just above the recent resistance at US $92 (≈CNY 650). The MACD is in bullish crossover territory and the RSI sits near 62, indicating room for further upside without being overbought. Alibaba (BABA) is still below its 50‑day MA and testing a key support around US $71, while Pinduoduo (PDD) is near its 200‑day MA with a flat‑line momentum histogram, reflecting a more volatile, growth‑centric trade. Given JD.com’s superior fundamentals, its relative strength in the e‑commerce sector, and a clean technical set‑up, a long position in JD.com—targeting the next resistance around US $99 (CNY 700) with a stop just below the 50‑day MA (~US $88)—offers a higher risk‑adjusted upside versus BABA or PDD, which may remain range‑bound or face margin pressure in the near term.