Overview
- HKEX records show JD Industrial has passed its listing hearing, with listing still contingent on pricing, allocation, and final procedures.
- Bank of America Merrill Lynch, Goldman Sachs, Haitong International and UBS are named as joint sponsors.
- Revenue rose from RMB 141.35 billion in 2022 to RMB 173.36 billion in 2023 and RMB 204 billion in 2024, reaching RMB 103 billion in the first half of 2025 for 18.9% year-on-year growth.
- Net profit improved from a RMB 13 billion loss in 2022 to RMB 4.8 million in 2023, RMB 760 million in 2024, and RMB 450 million in the first half of 2025.
- If the IPO completes, the company would become Richard Liu’s sixth listed enterprise alongside JD.com, Dada Group, JD Health, JD Logistics and Debang.