JD Health, one of China’s leading online healthcare platforms, has announced a major leadership change. Jin Enlin, the 45-year-old CEO, has resigned from all his roles, including executive director, chief executive officer, and membership on the remuneration committee. The company cited his desire to “devote more time to his family” as the reason for his departure. Non-executive director Qingqing Yi also stepped down due to “other demanding business commitments.”
Succeeding him is Cao Dong, 49, a seasoned financial executive with 13 years of experience within the JD.com ecosystem. Cao, who previously served as CEO of JD Property, returns to JD Health amid speculation over the company’s strategic direction in the evolving internet healthcare sector.
Jin Enlin, a Duke University MBA graduate and U.S.-registered CPA, joined JD.com in 2014. He is widely recognized as a key architect of JD Health, having founded JD Pharmacy and built its pharmaceutical supply chain from the ground up. Under his leadership, JD Health completed its spin-off and listing on the Hong Kong Stock Exchange.
In 2024, the company reported attributable net profit of RMB 4.16 billion, surging 94.31% year-on-year. Revenue for the first half of 2025 reached RMB 35.29 billion, up 24.5%, with active users exceeding 200 million. Despite robust performance, Jin’s sudden exit has raised questions about the underlying strategic shifts.
Cao Dong’s appointment signals a stronger focus on financial discipline and operational efficiency. Since joining JD.com in 2012, he has held key roles in auditing, budgeting, and settlement, later serving as CFO of JD Health before leading JD Property.
His promotion aligns with a broader trend at JD Group, where financially oriented leaders—including Group CEO Sandy Xu and Hema CEO Yan Xiaolei—are taking charge. As Huang Lichong, CEO of Future Capital, noted, “In a stock economy, companies are shifting from market expansion to precision operations. Finance-trained executives excel in cost control and capital allocation—essential as JD Health transitions from high growth to sustainable profitability.”
While JD Health has built an integrated “medical-testing-consultation-pharmacy” ecosystem, handling over 500,000 daily consultations and hosting more than 150,000 third-party merchants, growth is slowing compared to the industry’s early boom years.
The leadership transition underscores a strategic pivot toward profit optimization. However, analysts warn that excessive focus on short-term gains could stifle innovation in critical areas like AI healthcare, specialized diagnostics, and smart hospitals—fields where JD Health faces fierce competition from both tech and traditional healthcare giants.
Cao Dong’s key challenge will be to sustain profitability without compromising long-term R&D and innovation.
This executive reshuffle reflects not only JD Health’s internal evolution but also a broader industry shift from rapid expansion to disciplined, delicacy management.How Cao Dong navigates the tension between innovation and earnings will be closely watched by investors and industry players alike.
中文文章来源：本文综合自港交所公告、京东健康财报、红星资本局及行业专家解读，不构成投资建议。转载请注明出处。
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