JD Industrials (07618), a frontline player in the industrial supply chain sector, has released its financial results for the six months ending June 30, 2026. The company reported total revenue of 13.063 billion RMB, a 27.4% year-over-year increase, while net profit for the period reached 619 million RMB, up 37.2% compared to the same period last year. Basic earnings per share stood at 0.23 RMB.
The group's revenue from product sales, primarily covering MRO items and production materials (BOM), rose 28.2% to 12.3 billion RMB for the six months ended June 30, 2026, up from 9.6 billion RMB in the corresponding period of 2025. This growth was largely driven by deeper collaboration with key enterprise clients, leading to higher spending. During this period, the number of such key clients served by the group expanded from approximately 11,000 to about 13,000.
Key drivers behind JD Industrials' growth
The strong performance in the first half of 2026, particularly in the key enterprise client segment, is attributed to the company's ongoing efforts to deepen customer services and lead the digital and intelligent transformation of industrial procurement. JD Industrials has introduced a series of standardized solutions, including "SRM Full-Chain Digitalization" and "Long-Tail Materials Full Managed Services," providing cross-scenario and cross-category supply chain services to clients across different industries.
In the first half of 2026, the "Taipu" industrial supply chain solution was upgraded with AI technology. The core modules of the Taipu solution, such as procurement demand insights, material standardization, and price compliance review, have seen significant improvements in design and delivery efficiency, driven by AI. This makes the solution less reliant on individual consultant experience, becoming more standard and easier to replicate. Consequently, the upgraded Taipu solution has enabled the group to rapidly increase the number of covered clients and transaction volumes.
Client retention and AI-driven efficiency
For the 12 months ended June 30, 2026, the net revenue retention rate for key enterprise clients reached 119%, indicating a sustained increase in wallet share and customer loyalty. During the reporting period, the group focused on enhancing its industrial large model capabilities, accelerating the integration of AI into business scenarios. By leveraging AI agent applications, it serves different customer segments and continues to drive the intelligent upgrade of industrial supply chains.
At the foundational level of large model capabilities, the group initiated the "Hundred Rivers Plan," collaborating with leading brand manufacturers to build industry-specific vertical models. This initiative converts scattered product manuals and vast amounts of data into standardized datasets, improving product identification accuracy, reducing reliance on manual labor, and enhancing procurement efficiency. Leveraging AI technology and JD Industrials' years of accumulated industrial product data, the company's standard product database has achieved a key breakthrough in intelligent modeling: 30% of standard product data can now be automatically generated by AI, improving the efficiency of product creation by 14.5 times. This marks a gradual solution to the industry's challenge of standardizing industrial products, providing a solid data foundation for precise decision-making by downstream AI agents, and serving as a key barrier for JD Industrials to maintain long-term competitive advantage.
Based on these model capabilities, the group deeply embeds AI capabilities into business scenarios through AI agents, accelerating their conversion into operational value. In the first half of 2026, the company deployed over 70 AI agents across core processes such as procurement, fulfillment, and operations. These agents contributed to AI-driven incremental gross merchandise value (GMV) equaling 6.5% of the GMV from key enterprise clients, while also improving the efficiency of core roles by 16.6%.
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