Chinese e-commerce giant JD.com's logistics unit made huge losses in 2018, said the company's CEO Richard Liu, which helps explain the company's recent personnel alteration and changes in pay structure.
Liu said that JD Logistics, its logistics services arm, made a loss of 23 billion yuan in 2018 and if the revenue from business within the company excluded, the loss would be up to 28 billion yuan, representing a 12th consecutive year posting losses, primarily due to a lack of revenue from external orders and high internal costs.
Liu added that . . .
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