Credit rating agency Moody's announced that it has raised JD.com's issuer rating and senior unsecured rating from 'Baa1' to 'A3', with a stable outlook. Moody's Vice President and Senior Analyst Shawn Xiong stated that the rating upgrade and stable outlook reflect JD.com's leading position in the Chinese e-commerce market. It believes that the company has a unique and resilient business model and can maintain a low leverage ratio and robust cash position with strong supply chain capabilities, economies of scale, and prudent financial policies.

Moody's predicts that JD.com's core retail business will remain stable or experience moderate growth. With the company's increased focus on developing third-party businesses and increasing the number of third-party merchants, as well as the growing contribution from JD Logistics (02618.HK), it is expected that the company's revenue will grow by approximately 5% in the next 12 to 18 months. With effective cost control, continuous operational efficiency improvement, and ongoing enhancement of its product portfolio, JD.com's adjusted EBITDA profit margin is expected to remain at around 6% during the next 12 to 18 months.