Chinese e-commerce giant JD reported second-quarter revenue of RMB 287.9 billion ($39.7 billion) on Wednesday, marking a 7.6% rise from the previous quarter. However, the company’s main segment, JD Retail, achieved a growth rate of 4.8%, falling below the overall quarterly revenue growth. In contrast, the logistics and health units experienced double-digit growth. Earnings from JD’s new businesses, encompassing JD Property, Jingxi, and overseas operations, declined by 31.1% year-on-year, attributed to the firm’s scaling back of e-commerce operations in the Southeast Asian market and reducing the group-buying business since last summer. A 417% surge in third-party merchants during the quarter, driven by JD’s low-price strategy to attract consumers amid a weakened recovery, was highlighted as a notable accomplishment in the financial results. JD’s net income for April to June increased by 50% to RMB 6.6 billion. [JD]