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Segment reporting
 12 Months Ended
Dec. 31, 2023
Segment reporting  
Segment reporting
30.
Segment reporting
The Group derives the results of the segments directly from its internal management reporting system. The CODM measures the performance of each segment based on metrics of revenues and earnings from operations and uses these results to evaluate the performance of, and to allocate resources to, each of the segments. The Group currently does not allocate assets, share-based compensation expenses and certain operating expenses to its segments, as the CODM does not use such information to allocate resources to or evaluate the performance of the operating segments. As most of the Group’s long-lived assets are located in the PRC and most of the Group’s revenues are derived from the PRC, no geographical information is presented.
As disclosed in Note 2(nn), beginning with the first quarter of 2021, the Group implemented certain segment reporting changes to better reflect its optimized organizational structure and business developments. As a result, the Group reported three segments, JD Retail, JD Logistics and New Businesses in 2021. JD Cloud & AI businesses were deconsolidated from the Company from March 31, 2021, thus the operating results of JD Cloud & AI businesses were not included in New Businesses segment from the second quarter of 2021. The Group consolidated Dada since February 28, 2022 and reported the results of Dada as a new standalone segment. The Group also consolidated CNLP through JD Property since March 1, 2022 and reported the results of CNLP in the New Businesses segment. In addition, the Group consolidated Deppon Holdco except the Excluded Business as defined in Note 7 since July 26, 2022 and reported the results of Deppon Holdco except Excluded Business as defined in Note 7 in the JD Logistics segment. As a result, the Group reported four segments, JD Retail, JD Logistics, Dada and New Businesses since 2022.
The table below provides a summary of the Group’s operating segment results for the years ended December 31, 2021, 2022 and 2023:
 
    
For the year ended December 31,
  
    
2021
     
2022
     
2023
  
                      
    
(RMB in millions)
  
Net revenues:
         
JD Retail
      866,303        929,929        945,343  
JD Logistics
      104,693        137,402        166,625  
Dada
      —         8,030        10,506  
New Businesses
      26,063        21,779        16,111  
Inter-segment(*)
      (46,043 )       (50,904 )       (53,923 ) 
  
 
 
     
 
 
     
 
 
  
Total segment net revenues
      951,016        1,046,236        1,084,662  
Unallocated items
      576        —         —   
  
 
 
     
 
 
     
 
 
  
Total consolidated net revenues
      951,592        1,046,236        1,084,662  
  
 
 
     
 
 
     
 
 
  
Operating income/(loss):
         
JD Retail
      26,613        34,852        35,925  
JD Logistics
      (1,827 )       528        1,005  
Dada
      —         (1,122 )       (488 ) 
New Businesses
      (10,600 )       (5,295 )       159  
Including: gain on sale of development properties (Note 19)
   
 
767
 
   
 
1,379
 
   
 
2,283
 
impairment of long-lived assets
   
 
— 
 
   
 
— 
 
   
 
(1,123
) 
  
 
 
     
 
 
     
 
 
  
Total segment operating income
      14,186        28,963        36,601  
Unallocated items(**)
      (10,045 )       (9,240 )       (10,576 ) 
  
 
 
     
 
 
     
 
 
  
Total consolidated operating income
      4,141        19,723        26,025  
Total other income/(expense)
      (6,721 )       (5,856 )       5,625  
  
 
 
     
 
 
     
 
 
  
Income/(loss) before tax
      (2,580 )       13,867        31,650  
  
 
 
     
 
 
     
 
 
  
 
(*)
The inter-segment eliminations mainly consist of revenues from supply chain solutions and logistics services provided by JD Logistics to JD Retail,
on-demand delivery and retail services provided by Dada to JD Retail and JD Logistics, 
and property leasing services provided by JD Property to JD Logistics.
 
 
(**)
A summary of unallocated ite
m
s for the years presented is as follows
：
 
    
For the year ended December 31,
  
    
2021
     
2022
     
2023
  
                      
    
(RMB in millions)
  
Share-based compensation
      (9,134 )       (7,548 )       (4,804 ) 
Amortization of intangible assets resulting from assets and business acquisitions
      (940 )       (1,217 )       (1,281 )
Effects of business cooperation arrangements
      29        (475 )       (446 )
Impairment of goodwill
      —         —         (3,143 ) 
Impairment of
intangible
assets
      —         —         (902 ) 
  
 
 
     
 
 
     
 
 
  
Total
      (10,045 )       (9,240 )       (10,576 )