JD.com Beats Quarterly Revenue Estimates Amid Strong Electronics Demand

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Chinese e-commerce giant JD.com (9618.HK) exceeded market expectations for quarterly revenue on Thursday, reflecting steady consumer demand supported by price cuts and government subsidies. U.S.-listed shares of the platform, a leading online retailer for electronics and home appliances in China, fell nearly 4% in morning trade.

Despite muted overall consumption amid economic pressures and trade uncertainties, JD.com boosted sales through deep discounts, promotions, and state subsidies. Analyst Vinci Zhang of M Science noted that the revenue upside was largely driven by electronics and appliances propped up by government support. Zhang cautioned that year-on-year comparisons may become tougher as subsidies wind down.

In response to sluggish domestic consumption and fierce competition, JD.com is pursuing growth internationally and in new sectors. Last month, the company made an offer to acquire German electronics giant Ceconomy (CECG.DE) for €2.2 billion ($2.57 billion), a strategic move to expand its European footprint. In February, JD entered the food delivery market—dominated by Meituan (3690.HK) and Alibaba’s Ele.me—offering consumer incentives to capture market share. CEO Sandy Xu said the new food-delivery unit is already driving traffic to JD’s core retail operations but warned that “excessive competition” could harm pricing and merchant profitability.

JD.com reported total revenue of 356.66 billion yuan ($49.73 billion) for Q2 ended June, up 22.4% from a year earlier and above the analyst consensus of 331.63 billion yuan. Net income attributable to ordinary shareholders fell to 6.2 billion yuan from 12.6 billion yuan a year ago.

Bitcoin Hits Record High Amid Fed Easing Bets and U.S. Crypto Reforms

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Bitcoin reached a fresh all-time high on Thursday, climbing as much as 0.9% to $124,002.49 in early Asia trading, surpassing its previous peak from July. Ether, the second-largest cryptocurrency, also hit $4,780.04, its highest level since late 2021.

The rally is being fueled by growing expectations of Federal Reserve rate cuts, sustained institutional buying, and recent U.S. regulatory reforms under President Donald Trump. “Technically, a sustained break above $125k could propel BTC to $150,000,” noted IG market analyst Tony Sycamore.

Bitcoin has surged nearly 32% so far in 2025, supported by long-awaited regulatory wins, including stablecoin legislation and efforts by U.S. securities regulators to accommodate cryptocurrencies. Trump, who has branded himself the “crypto president,” has also promoted the inclusion of crypto assets in 401(k) retirement accounts through a recent executive order.

The executive order could boost asset managers such as BlackRock and Fidelity, which offer crypto exchange-traded funds (ETFs), although crypto’s higher volatility compared with traditional stocks and bonds presents risks for retirement savings.

The broader crypto market has also benefited, with total market capitalization rising to over $4.18 trillion, up from roughly $2.5 trillion in November 2024, following Trump’s election. The sector has shrugged off broader economic uncertainties, including the potential impact of tariffs, as enthusiasm grows for mainstream adoption.

Could Robotics and Timber Solve Britain’s Housing Shortage?

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Gigantic robot arms guided by artificial intelligence are producing timber building frames at a factory in Oxfordshire, England, offering a potential solution to the UK’s housing challenges. With the government targeting 300,000 new homes per year, some housebuilders say combining technology with sustainable materials could address both skills shortages and environmental goals.

England remains behind many similar economies in the share of timber-framed homes, and Britain as a whole is one of the slowest adopters of construction robotics, according to Heriot-Watt University’s National Robotarium.

“We’re seeing more major and smaller housebuilders embracing timber to overcome skills and carbon challenges,” said Alex Goodfellow, CEO of Donaldson Timber Systems (DTS). The company produces timber-frame walls, floors, and roofs for homes and commercial buildings, delivering pre-assembled sections for rapid onsite assembly. Its automated production reduces labour needs, costs, and construction time by roughly 10 weeks compared with masonry, while a study by Rider Levett Bucknall found timber to be 2.8% cheaper than traditional materials.

DTS’s Witney factory uses AI to digitize designs, minimizing paper drawings, while robotics and laser technology streamline production for roughly 100 homes per week.

Barriers remain. Timber historically faced resistance in England due to concerns about durability, rot, and fire. Amit Patel of the Royal Institution of Chartered Surveyors noted difficulties in securing warranties for timber homes, while past efforts by Barratt Homes in the 1980s faltered over similar issues. Current building regulations and fire safety guidelines, however, have mitigated many of these concerns, according to Andrew Orriss of the Structural Timber Association (STA).

The STA estimates that off-site timber construction could deliver around a third of the government’s annual housing target. In 2023/24, England built nearly 200,000 new homes, with approximately 40,500 of those using timber frames. Builders including Vistry and Taylor Wimpey have opened or plan to open timber-frame factories, and Bellway intends to use timber for a third of its projects by 2030.

Timber’s environmental benefits are also highlighted. Simon Park, head of sustainability at Bellway, said timber stores more carbon than it emits, whereas concrete blocks are among the largest carbon contributors. Yet, around 80% of timber used in the UK is imported, primarily from Europe, compared with 20% of bricks. Mortgage availability for timber homes remains a concern but could improve with stronger government support, according to mortgage broker Riz Malik.

An ageing construction workforce underscores the need for robotics. About 20% of UK construction workers are over 50, with a quarter expected to retire in the next decade. Robotics adoption hubs, supported by £40 million ($54 million) from the government, aim to modernize the sector, though the UK lags Europe and the U.S. in construction robot density. In 2023, there were 0.5 robots per 10,000 UK construction workers, compared with 1.5 in Europe.

Frank O’Reilly, DTS manufacturing director, said robotics not only addresses labour shortages but also attracts younger, tech-savvy talent into the industry. “It encourages young people to consider this as a career,” he added.