Jingdong Logistics lost money again and again.

Liu complained that the financing of Jingdong Logistics was only two years, and the salary of the courier brother was deducted by about 654.38+0.8 million. What does logistics mean to JD.COM? Why does Jingdong Logistics lose money continuously? Can Jingdong Logistics get out of the quagmire of losses?

The news that the courier's salary was cancelled and the provident fund coefficient was reduced, the public opinion that JD.COM abandoned his brother was very lively.

In the early morning of April 15, Liu broke the silence and sent an internal letter to deal with the argument.

Jingdong Logistics lost more than 2.3 billion people in 20 18 years, which is the loss in 12 years. If you lose so much, Jingdong Logistics will only lose two years. Liu wrote a complaint.

There are only two choices in front of Jingdong Logistics: increasing the external income of receipt, or reducing the five insurances, one gold and welfare benefits to the same level as other express delivery companies in the market.

In his internal letter, Liu showed his loyalty to the courier brother's future responsibility, only reducing the proportion of provident fund and never canceling the five insurances and one gold for employees. But from another point of view, he didn't give any choice to the courier brothers at lower levels, and it wasn't my brother who muddied.

Although I want to cancel my salary and use a big salary increase to motivate the delivery staff, the incentive has not yet worked, and many courier brothers are already very interested. Cancelling my salary doesn't mean that the sales are abnormal. Performance requirements are very high, and many employees are considering retirement. When it comes to the new censorship, my brother JD.COM, who is in charge of reception in Kecun District, Haizhu District, Guangzhou, is powerless.

In the predicament, many couriers can only increase their income by delivering goods under the commercial street in JD.COM and soliciting customers from outside. The salary is calculated by express delivery 1.5 yuan/piece, and there is almost no hope to restore the previous salary. Mr. Zhang, the courier brother who works in the distribution station of Chigang Street in Haizhu District, just entered the receiving information at hand and set off immediately.

Since its establishment, Liu decided to take a day off as a courier every year, and now all his courier brothers have become short-term workers. What idea is hidden behind the reform of such a big axe?

Why does Jingdong Logistics lose money continuously? A slow-moving cash cow.

Brother express is very hard. In JD.COM, logistics is regarded as a cash cow to improve performance, and its position cannot be ignored.

JD。 COM financial report shows that in 20 18, the revenue of logistics services represented by open logistics business increased by 142% compared with last year to123% 79 million yuan, and the annual net service income of JD.COM reached 45.9 billion yuan. In other words, Jingdong Logistics has greatly increased the net service income of JD.COM Group.

This has also become Liu's most confident platform capability project. While other business lines are continuously optimized, logistics is the only sector in JD.COM that is open to expansion at present: 65438+ 10. In October, Wang Zhenhui, CEO of Jingdong Logistics, announced that the company would invest 1 100 million yuan as a talent incentive bonus pool in 20 19 and add 1 10,000 employees.

However, although the group has increased the tip for logistics, Jingdong Logistics, which has been operating independently for two years, has not stood on its own feet.

Judging from the financial data, Jingdong Logistics, which had high hopes, not only failed to make up for the loss gap, but also greatly dragged down JD.COM.

20 18 financial report shows that the operating loss from continuing operations is 2.6 billion yuan, up by 325% over the same period, but the investment in technology research and development has increased by 82%.6% to 12 1 100 million yuan.

R&D expenditure is rising, largely because it is tied with service income. In order to improve the logistics efficiency and strengthen the core competitiveness of the logistics system, JD.COM must continuously invest in technology research and development to improve its ability in the application fields of intelligent logistics, intelligent supply chain and artificial intelligence after-sales service.

In addition, the biggest expenditure in the financial report falls on the cost of revenue. In 20 18, the revenue of Jingdong increased to 396 10 billion yuan, mainly due to the increase in the cost of logistics services provided to merchants and suppliers.

JD.com Logistics has been burning money and losing money continuously since the establishment of 12. According to the recruitment documents of JD.com Logistics, from Q3 of 20 16 to Q3 of 20 17, the accumulated loss of JD.com Logistics is140.9 billion yuan. Liu said he lost 2.3 billion yuan last year.

The poor income of Jingdong Logistics is due to the huge investment in self-operated warehouse logistics network and logistics facilities. By the end of 20 18, the number of warehouses operated by Jingdong Logistics in China was 550, with a total area of120,000 square meters, with an increase of 64 large warehouses with an area of 2 million square meters.

What worries JD.COM more is the rising performance cost. Judging from the data of the last two years, the performance cost of Jingdong Logistics has increased from 4.6 billion yuan, which has exceeded the growth rate of GMV in JD.COM.

Considering the rapid increase of express delivery business and labor costs, Li Chengdong, the founder of Dongge, said that the total number of couriers and labor costs have doubled. It is estimated that by 2020, the labor cost of couriers will exceed 500 billion yuan, and the future cost reduction will depend on the large-scale application of robots in JD.COM.

At present, regardless of the profit of logistics, its human resources development and platform construction are inseparable from the strong support of JD.COM Commercial Street, which has become a burden for JD.COM. COM financial report in invisible situation.

Why does Jingdong Logistics lose money continuously? Is it difficult to support ambition?

Mr. Liu, the chairman of the board, is commendable in promoting change! Dictatorship has no thickness as long as the board of directors agrees. JD。 Li Guoqing, the founder of the Internet, joked that the purge of COM implied the beginning of self-help in the face of crisis.

The last 60 days, passive or active, JD. The adjustment of COM is endless.

On April 3rd, three CXO system generals-chief law officer Yulong, CTO Zhang Chen and CPO Lan Ye-resigned one after another. Liu's signature email was released, demanding the elimination of three kinds of people who can't struggle, have poor performance and low cost performance. On the other hand, Liu began to reuse the old veterans who fought on the same front.

In this regard, Liu's advance, retreat and retreat are not only to gain an advantage in external competition, but also to feel uneasy about his own situation.

The data shows that although the size advantage still exists, JD.COM. COM's revenue growth rate entered a downward track, from 43.6% in Q2 of 20 17 to 22% in the fourth quarter of 20 18, which was the lowest in each quarter since its listing. This figure is also lower than the average annual growth rate of 36% in the retail market, which is far from Alibaba and Pinduoduo.

So far, JD.COM has implemented the strategy of self-operated business gaining reputation, third-party business getting money and GMV getting evaluation. With the gradual fatigue of self-operated business, it is inevitable to focus on segmented logistics business. More importantly, JD.COM needs to improve its confidence in the logistics industry that it has invested heavily in.

In fact, this is also the commercial layout planned by Liu in 10, and a large sum of money was built with external investment. 20/kloc-In February, 2008, Jingdong Logistics completed the financing of $2.5 billion invested by high-yield capital, Sequoia China and Tencent, and built a logistics intelligent supply chain network including six products, including JD.COM supply chain, Jingdong Express and JD.COM Frozen Chain.

Liu has repeatedly publicly expressed his expectations for Jingdong Logistics. In the next five years, non-JD.COM's order business will reach more than 50%, and its revenue will reach hundreds of billions of dollars.

The prospect is good, but it is not easy. According to Li Chengdong, if Jingdong Logistics wants to achieve a revenue scale of 1000 billion in the next five years, it must achieve a compound growth rate of 35%. According to the data of the State Post Bureau, the revenue growth rate of express delivery business in 20 18 was only 2 1%.

Up to now, under the capital construction, the income of logistics and other services represented by open logistics business still accounts for only 65,438+00% of JD.COM. COM, which has a considerable impact on the group's income. Its plan to open positions seems to be stagnant, and the number of positions opened in the fourth quarter of 2065,438+08 is the same as that in the third quarter.

It is worth noting that unlike many logistics sold in the market, Jingdong Logistics does not accept third-party distribution. The seller requires the goods to be sent to the warehouse in JD.COM and stored in the warehouse, and the value of the inventory books is often high.

From the mode, JD.COM firmly grasped the leading position by hoarding third-party accounts payable, but it had no control: the growth rate of warehouse area slowed down significantly, the vacancy rate of warehouse increased, and the balance of accounts payable at the end of 20 18+02 dropped to 79.9 billion yuan.

Now, the reality facing JD.COM is whether the independent service business separated from the retail system can stand the market test.

At present, Jingdong Logistics has established a relatively perfect logistics system, ending the investment period of logistics regional expansion in the past 10. JD。 The new business channel of COM relies on JD.COM. COM mature logistics system, and do not need to pay additional logistics boundary costs. Before the revenue of Jingdong Logistics expired, Cao Lei saw the development prospect, revenue point and scale of its Jingdong Logistics.

In Cao Lei's view, the express delivery team in JD.COM has a scale of100000 people, and the cancellation of wages can indeed greatly reduce the pressure on labor costs in JD.COM.

Can Jingdong Logistics speed up its listing? The future is uncertain. Obviously, the Brotherhood that maintained JD.COM has disappeared, and more new tricks will erode JD.COM in the future.