JD Logistics, Inc. (02618.HK) reported first-half 2026 revenue of 124.7 billion yuan, up 26.5% year on year, while adjusted operating profit rose 39.9% to 3.6 billion yuan, indicating margin improvement as cost controls, efficiency gains and business mix optimization continued to take effect. The results mark a shift toward more profitability-driven growth, with earnings expanding faster than sales. Integrated supply chain remained the company's core business, generating 59.4 billion yuan in first-half revenue, up 18.5% year on year. The number of external integrated supply chain customers approached 80,000, and average revenue per customer reached 254,000 yuan, suggesting JD Logistics is moving from broad customer acquisition toward deeper, higher-value client relationships. Revenue from other customers, including express delivery, freight and on-demand delivery, rose 34.8% to 65.3 billion yuan, outpacing the integrated supply chain segment. Overseas operations stood out as a key growth driver. JoyExpress expanded its network across the United Kingdom, Germany, the Netherlands and France, supporting Joybuy, JD.com's retail business in Europe. JD Logistics said it now operates more than 200 overseas, bonded and direct-mail warehouses across 26 countries and regions, with total overseas warehouse management area exceeding 2 million square meters. The company also expanded consumer electronics services in the United States, added home appliance and drone clients in Europe, and partnered with a top consumer electronics client in the Middle East to build a smart warehouse. The company also highlighted technology commercialization and logistics infrastructure upgrades. During this year's JD 618 shopping festival, its Super Brain LLM 2.0 was deployed at scale to calculate routes for hundreds of millions of parcels within three minutes, while an AI-powered inventory diagnostic assistant improved merchant inventory turnover efficiency by 30% to 40%. JD Logistics said its self-developed ZhiLang goods-to-person system has been deployed in more than 60 warehouses globally, YiLang robotic arms have been upgraded to dual-arm configurations, and more than 1,000 autonomous vehicles are now in regular operation across more than 20 provinces in China. JD Airlines operates 13 all-cargo aircraft, and the company's drone network includes more than 100 domestic routes, including a new village delivery network in Sichuan.