On May 12, 2026, JD HEALTH (Stock Code: 06618) announced its financial results for the first quarter of 2026. In Q1 2026, the company achieved revenue of RMB 19.47 billion, representing a year-on-year increase of 17.0%. Under non-IFRS measures, operating profit reached RMB 1.94 billion, up 48.0% year-on-year, and net profit amounted to RMB 1.87 billion, an increase of 6.0% year-on-year. During the quarter, the company continued to strengthen its core advantages in the pharmaceutical supply chain, consistently empowering the closed-loop of "medical care, testing, diagnosis, and medication" with its "AI + Supply Chain" full-scenario capabilities. All core operating metrics maintained steady growth, indicating a strong momentum for high-quality development.
**1. Supply Chain Integration and Ecosystem Strengthened with Over 30 New Drug Launches** In the first quarter of 2026, leveraging its core advantage of a "Super Pharmaceutical Supply Chain," JD HEALTH maintained its industry-leading position in new drug launches and pharmaceutical company collaborations, further solidifying its first-launch advantage. Simultaneously, it achieved innovative breakthroughs in areas such as AI + medical devices, pet health, and industry standard co-development. During Q1, JD HEALTH launched over 30 new drugs, including Novartis's Rimegepant®, the world's first approved oral targeted therapy for chronic spontaneous urticaria, and Bimzelx®, the first innovative drug approved in China for treating vitiligo. This continues to reinforce its position as the primary online launch platform for new drugs. Furthermore, in the first quarter, JD HEALTH established strategic partnerships with several prominent pharmaceutical companies, including Organon, Kenvue, China Resources Jiangzhong, and Shou'er Pharmaceutical, further enhancing its supply chain integration capabilities and ecosystem synergy within the pharmaceutical and healthcare sector. In the field of "AI + Medical Devices," JD HEALTH comprehensively upgraded its strategic layout, promoting the deep integration of AI technology with medical devices. In Q1, the company signed strategic cooperation agreements with leading brands such as Yuyue Medical, Cofoe Medical, and iFlytek Health. Centered on "AI + Medical Devices" as a core engine, they deepened collaboration in areas like intelligent product upgrades and innovative integration of chronic disease management services. Concurrently, JD HEALTH accelerated the deployment of its JoyInside intelligent interconnection system in elderly care scenarios, planning to connect millions of medical devices to the system. This initiative covers core elderly care categories such as wheelchairs, nursing beds, and health monitoring devices, collaborating with 10 leading brands to build a service ecosystem. Additionally, JD HEALTH's pet health business continued to refine its service closed-loop in Q1, launching the "Pet Gold Selection" label and an "Ineffective Product Refund" service. It also jointly established a Pet Quality Ecosystem Alliance with partners including Royal Canin, Boehringer Ingelheim, Zoetis, and Ruipai Pet Hospital to promote high-quality industry development. JD HEALTH also focused on industry standardization, achieving phased results. In March 2026, during "World Sleep Day," JD HEALTH collaborated with authoritative institutions such as the Second Xiangya Hospital of Central South University, Chongqing Mental Health Center, and the Affiliated Brain Hospital of Guangzhou Medical University to jointly formulate the "Standardized Management Pathway for Sleep Health." This pathway divides sleep health management into four stages: "screening and early warning, professional assessment, precise intervention, and long-term management," establishing a multidisciplinary collaboration mechanism to fill an industry gap and drive the sleep health industry's transition from experience-driven to standard-driven practices.
**2. Proprietary LLM 'Jingyi Qianxun' Tops Dual Charts, Accelerating Full-Scene Medical AI Implementation** In the first quarter of 2026, JD HEALTH focused on its "AI + Supply Chain" strengths to drive the deep application of medical AI across all scenarios. Its product matrix for users, doctors, and hospitals underwent comprehensive upgrades, with breakthroughs in both technological capabilities and service scale. Within Q1, JD HEALTH's self-developed medical large language model (LLM), "Jingyi Qianxun," simultaneously topped both the "Large Language Model" and "Multimodal Large Model" evaluation charts on the latest list released by the authoritative medical LLM evaluation platform MedBench. This achievement not only signifies JD HEALTH's entry into the global leading ranks in core medical AI technology but also provides a more solid technical foundation for AI to empower the entire closed-loop of "medical care, testing, diagnosis, and medication." Specifically, the "AI Jingyi" intelligent agent cluster for users underwent significant upgrades. It has now been integrated across the JD APP, JD HEALTH APP, and the WeChat ecosystem, launching industry-leading services such as the "Drug Intelligence Model," "Yaoxiaozhi," and the "Global Drug Search Platform." Among these, the AI doctor "Dawei" deeply integrates the closed-loop services of "medical care, testing, diagnosis, and medication." For user health inquiries, it not only provides professional advice but can also directly facilitate online consultations, at-home rapid testing, nurse home visits, and medication fulfillment through JD Pharmacy, forming a complete service closed-loop. In the first three months of 2026, the number of users utilizing AI doctor "Dawei" has already surpassed the total for the entire year of 2025, with user recognition and engagement continuously rising. For the physician community, JD HEALTH officially launched "JD Zhiyi," an AI product specifically developed for doctors. It deeply integrates tens of millions of global authoritative medical literature and guidelines to assist in improving clinical diagnosis and treatment efficiency and research quality. Simultaneously, JD HEALTH's Expert Committee, comprising nearly 400 top hospital experts from across China, is fully involved in the clinical scenario validation, product function iteration, and content review for "JD Zhiyi," ensuring the professional authority of AI-generated content from the source. For hospital scenarios, JD HEALTH upgraded "JD Zhuoyi" to version 2.0, deeply integrating the advantages of "AI + Supply Chain" to form comprehensive management solutions covering three core scenarios: clinical nutrition, pharmaceutical services, and weight management. In Q1, JD HEALTH collaborated with the First Affiliated Hospital of Wenzhou Medical University and the National Key Laboratory of Clinical Nutrition and Intervention under the National Health Commission to jointly release an "AI-Driven Standardized Whole-Process Management Solution for Clinical Nutrition." Using AI technology as the driving engine, this solution constructs a standardized and continuous whole-process patient management system, allowing patients convenient access to products and long-term nutritional support through online channels. From consolidating the foundation of the pharmaceutical supply chain to leading innovation in full-scene medical AI, JD HEALTH is driving progress with its "AI + Supply Chain" strategy, continuously improving the "medical care, testing, diagnosis, and medication" service closed-loop. It is accelerating the transformation of technological potential into universally accessible health services, steadfastly advancing towards a new stage of high-quality development.
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