After an in-depth look into JD current affairs, you will note the revenue growth surpassed analysts’ expectations and hit 31%. This suggests a boom in the e-commerce section in China which could help the nation recover from the pandemic. JD Earnings Date in 2020 closed at $35 billion in sales with a net income of 24.3 billion yuan. The in-house logistics network at JD.com has been effective in buoying the operations of the platform during the pandemic.
Many consumers had to turn to online sources after the government restricted movement. This caused a surge among e-commerce players such as Pinduoduo Inc and Alibaba Group Holding Ltd. In 2020; there were concerns about whether the companies would sustain their growth throughout the year with strained delivery systems. In other news on JD current affairs, the market value for the company has gone up twice as much since the start of 2020.
Second Launch for E-commerce Platform
This is despite the wider technology selloff that started. The company said it would fundraise about $700 million for JD Logistics in issuance for its preferred shares. This process would be led by both Hillhouse Capital and Warburg Pincus. In 2021, the Chinese e-commerce company is expected to have revenue that outpaces 50% of the nation’s retail sales. Such figures would be a first for any company in the world, based on research findings from EMarketer. Today, the company is spinning off JD Logistics in an IPO with a target of close to $5 billion. It is the second debut of the company right after the 2020 JD Health Inc. launch.
JD.com has delivered in its last quarter with impressive sales growth and an increase in new clients, especially during the pandemic. The upcoming IPO for the logistics subsidiary would be a major boost for JD.com as the parent company spent billions of dollars to establish the largest courier services in China. JD Logistics also has hundreds of warehouses spread countrywide to ensure consumers have their goods in time. It also ensures that the company maintains its control over the shipping network. Nevertheless, the launch will be overshadowed by the possible withdrawal of a financial services affiliate for the capital markets.
When discussing JD current affairs, it is hard to miss the IPO for JD Health that raised $3.5 billion in Hong Kong. The firm issues a share set at $9.11 for every share for a total of 381. 9 million shares. The investors were marketed with 62.8 Hong Kong dollars, although this changed to 70.58 Hong Kong dollars. JD Health shares are projected to begin trading in December. This listing marks yet another major win for the Hong Kong stock exchange market, which has seen prominent tech companies in China raise funds. With the trading of JD Health shares, make sure you do not miss out on this crucial JD earnings date.
JD Health Lists on Hong Kong Stock Exchange Market
JD.com has about a 78% ownership stake at JD Health, an affiliate that is solely focused on offering digital healthcare services like consultations with physicians and online pharmacies. June 30 also marked an important JD earning date as JD Health achieved $1.34 billion in revenue within six months. This was a 4.99 billion yuan increase from the revenue records of the same period in the previous year. Technology giants in China have increased their push into online healthcare due to the coronavirus outbreak in early 2020. Internet search company Baidu had held various discussions with investors to come up with $2 billion in a period of three years for a startup company focusing on biotechnology.
Final Thoughts
One of the top online retailers in China reported sales worth 224.3 billion yuan in the last quarter of 2020, outpacing the average estimates of analysts at 219.52 billion yuan. The imminent IPO for JD Logistics would be a huge step for the parent company.