China Securities Network News (Reporter Chang Jiarui) has an online message today that "Liu Qiangdong announced today that he has withdrawn from the management of Beijing East." Is this the signal that Liu Qiangdong will be prosecuted by the Minnesota authorities for rape or is it a follow-up to Ma Yun's `retreat to the second line'? In response, Jingdong responded by saying, "fake news."
On November 19, Jingdong Group released its third quarter results in 2018. The net profit of GAAP's continuing business, which belongs to common shareholders, was RMB 3 billion (about US$400 million). It was RMB 1 billion in the same period last year, up 200% from the same period last year to a new high in a single quarter. As the core business of Jingdong Group, the operating profit rate of Jingdong Mall reaches 2.2%, which is basically the same as the highest profit level in a single season in history. At a conference call after the third quarter's earnings report was released in Jingdong, Liu Qiangdong said: Now the management team of Jingdong Group has stabilized and formed. The main focus of individuals is on new business, facing four things: strategy, culture, team and new business. Liu Qiangdong did not talk about the Minnesota incident on the phone, and Beijing-East executives said the incident had no impact on Beijing-East operations.
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