v3.25.1
Inventories, net
12 Months Ended
Dec. 31, 2024
Inventories, net  
Inventories, net
8.
Inventories, net
Inventories, net consist of the following:
 
    
As of December 31,
 
    
2023
    
2024
 
    
(RMB in millions)
 
Products
     71,297        91,631  
Packing materials and others
     1,131        1,782  
  
 
 
    
 
 
 
Inventories
     72,428        93,413  
Inventory valuation allowance
     (4,370      (4,087
  
 
 
    
 
 
 
Inventories, net
     68,058        89,326