Last Thursday, Chinese e-commerce group JD.com reported second-quarter profits that exceeded forecasts, driven by price cuts that attracted cost-sensitive consumers. JD.com's U.S.-listed shares rose by up to 3.5% in premarket trading. The company's focus on discounts and lower-priced goods comes as Chinese shoppers remain cautious, prompting a price war among major retailers like JD.com and Alibaba. JD.com’s profit surged 73.7% to 9.36 RMB per share, surpassing estimates, and its general and administrative costs fell by 9.6%. Despite the company's shift to a low-price strategy, which has led to a significant drop in share value, JD.com saw a 1.2% increase in total revenue to 291.40 billion RMB ($40.71 billion). The mid-year "618" shopping festival in June contributed to a record high in turnover and order volumes.