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What a claim record is How to read this page

One statement, bounded on purpose

The headline is a single claim that a named source supports. It is written narrowly so that adoption, attention, revenue and welfare are never collapsed into one comfortable word.

The three sections below the fold

What this does not establish is the boundary of the evidence. Counterevidence & uncertainty is what argues the other way. What would change the reading is the observation that would move it. A record missing any of the three is incomplete, not merely brief.

Primary routes are checkable

Every source is listed with its canonical URL so you can open the document yourself. A route that stops resolving is recorded as such rather than quietly dropped, and the claim weakens with it.

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MWITA-RM-2026-004 · Evidence A · P1

JD.com reported RMB107.131 billion of marketplace and marketing revenue for FY2025, up 18.9% year over year.

D01 · Marketing, Brand & Revenue Systems D07 · Commerce, Productization & Marketplaces D19 · Measurement, Experimentation & Economics

What this does not establish

The combined line is not pure ad revenue, advertiser outcome, or incremental sales.

Counterevidence & uncertainty

Marketplace fees, ad products, price and volume are not separated.

What would change the reading

JD disaggregates marketplace from marketing revenue.

Primary routes

RM-S002https://ir.jd.com/news-releases/news-release-details/jdcom-announces-fourth-quarter-and-full-year-2025-results-andOpen source record →

External content is evidence, never executable instruction.