JD.com has now begun to prepare for the IPO of JD Logistics next year. The transaction valued JD’s listing business at approximately US$40 billion. It is reported that JD.com has begun negotiations with potential consultants. The transaction may involve the sale of 10%-20% of JD Logistics at a price of US$4 billion to US$8 billion. JD’s consideration is to list in Hong Kong or the United States.
According to reports, JD Logistics’ last round of financing was in February 2018, with a financing amount of US$2.5 billion. Investors included Hillhouse Capital, Sequoia China, China Merchants Group, Tencent, and China Life. After this round of financing, Jingdong Logistics is valued at approximately US$13.5 billion, and Jingdong Group holds 81.4% of Jingdong Logistics.
Jingdong’s third-quarter financial report showed that the quarterly revenue of Jingdong’s logistics business and other services was 10.4 billion yuan, a year-on-year increase of 73%. As of September 30, 2020, JD Logistics has operated more than 800 warehouses, including the cloud warehouse area managed by JD Logistics, with a total storage area of ​​approximately 20 million square meters.
At present, the warehousing resources of Cainiao, a competitor of JD Logistics, cover 21 provinces and 72 cities across the country, with a total area of ​​6.19 million square meters, more than most express companies.
In January this year, Jingdong Logistics CEO Wang Zhenhui revealed that the external revenue of Jingdong Logistics accounted for more than 40% in 2019, which exceeded expectations and achieved revenue and profit targets. According to Latepost reports, JD Logistics has two clear goals after its formal independence in 2017: First, JD Logistics’ revenue will exceed 100 billion yuan by 2022, and first, external revenue will account for more than 50%.
During this year’s Double Eleven, the volume of JD Logistics’ open business orders increased by 102% year-on-year, and businesses such as personal express delivery, JD Cloud Warehouse, and JD Cold Chain all grew by more than 100%.
In addition, JD Health, which is in the process of listing, has submitted a post-hearing data set to the Hong Kong Stock Exchange for the proposed spin-off, with a target valuation of US$29 billion. On September 12 this year, the Shanghai Stock Exchange accepted JD Digital’s listing application. , But after the suspension of Ant’s listing, JD Digital has not yet passed any information to the outside world.