JD Logistics lists on Hong Kong Stock Exchange

LinkedIn +

JD Logistics has listed on the Hong Kong Stock Exchange (HKEx) with the ticker 2618.HK. An IPO celebration ceremony was hosted at JD.com’s headquarters in Beijing, virtually connected to the exchange in Hong Kong. The opening price was HK$40.36 (US$5.20), and the IPO raised an estimated HK$24.11bn (US$3bn).

JD Logistics is the largest integrated supply chain and logistics provider in China in terms of revenue in 2020. The company operates a network of over 1,000 warehouses covering approximately 21 million square meters. It opened its first Asia No. 1 warehouse in Shanghai in 2014 and now has 32 such warehouses across China, including a fully unmanned warehouse that can process more than 1.3 million orders per day during peak seasons. The company employs over 240,000 personnel, including 190,000 in-house couriers who deliver across the nation.

Rui Yu, CEO of JD Logistics, remarked, “JD self-built its own logistics network in 2007. In the past 14 years, JD Logistics has taken the improvement of the customer experience as its responsibility. Through unrelenting investment in logistics infrastructure and technology, JD Logistics has launched services such as ‘211’ (same- and next-day delivery) and 24-hour delivery in tens of thousands of counties and towns, redefining logistics service standards and providing JD.com customers with the best experience in the world.”

According to JD Logistics, the proceeds of the IPO will be used to upgrade and expand the company’s logistics networks and develop advanced technologies to be used in its supply chain solutions and logistics services.

Reflecting on the significance of the IPO, Yu added. “This IPO allows JD Logistics enter a new stage of development, and also symbolizes taking on more social responsibility. In the future, business scale and people organization will change, but the ‘customer first’ philosophy certainly will not. Business logic based on experience, efficiency and cost will not change. Adhering to the ‘noble principle of doing the right thing the right way’ definitely will also not change.”

Share this story:

About Author

mm
, web editor

Lawrence has been covering engineering subjects – with a focus on motorsport technology – since 2007 and has edited and contributed to a variety of international titles. Currently, he is responsible for content across UKI Media & Events' portfolio of websites while also writing for the company's print titles.

Comments are closed.