Richard Liu, the founder and CEO of JD.com, sent a note to JD Logistics employees early Monday, calling for unity and cooperation from delivery drivers at a crucial time for the company.

According to an internal letter obtained by Chinese media, the e-commerce firm’s logistics arm recorded net losses exceeding RMB 2.3 billion ($343 million) in 2018. If costs from internal platform, JD mall, are included, that widens to RMB 2.8 billion.

“We have lost money for 12 years in a row… if this continues, the money we raised will only last for two years. I believe none of our brothers is willing to see us go out of business,” (our translation) Liu said in the letter, which said that the fate of the company hangs in the balance.

Start your free trial now.

Get instant access to all our premium content, archives, newsletters, and online community.

Monthly Membership

Yearly Membership

What you get

Full access to all premium content and our full archives

Members'-only newsletters

Preferential access and discounts to all TechNode events

Direct access to the TechNode newsroom

Start your free trial now.

Get instant access to all our premium content, archives, newsletters, and online community.

Monthly Membership

Yearly Membership

Jill Shen

Jill Shen is Shanghai-based technology reporter. She covers Chinese mobility, autonomous vehicles, and electric cars. Connect with her via e-mail: jill.shen@technode.com or Twitter: @yushan_shen