JD.com, the Chinese e-commerce business that attempts to compete with Alibaba and is heading towards a New York IPO, has said it will probably remain lossmaking "for some time".
In an SEC filing JD said it had made revenues of $11.5 bn in 2013 and a net loss of $410m. The company lost a similar amount in 2012.
The online retailer said it was not profitable because, while it was managing to grow sales volumes, profit had remained elusive because of intense competition in its industry.
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