JD Logistics made its debut on The Stock Exchange of Hong Kong on Friday, May 28th (2618.HK). The business joins its parent organization JD.com (9618.HK) which completed a secondary listing on HKEx on June 18th of 2020 and the healthcare arm of the country’s biggest internet company JD Health (6618.HK), which was listed on December 8th of last year, making it the third JD entity to list.
“2011 China Economic Person of the Year”
The opening price for the company started at HK$40.36, and they raised an estimated HK$24.11 billion on the day of their initial public offering. According to the company’s prospectus published on May 17th, 2021 by Richard Qiangdong Liu, JD.com’s chairman and CEO, the proceeds from JD Logistics’ IPO will be used to upgrade and expand its logistics networks, develop advanced technologies to be used in its supply chain solutions and logistics services, expand the breadth and depth of existing solutions, penetrating existing customers and attracting potential customers though investments in sales and marketing personnel as well as industry solutions development, and toward general corporate purchases and working capital needs.
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To commemorate the debut, JD Logistics hosted a celebration ceremony at JD.com’s headquarters in Beijing. CEO of JD Logistics Rui Yu said during his remarks at the ceremony: “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.”
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Connecting virtually to the exchange in Hong Kong, nine representatives including JD Logistics customers, clients and frontline employees, Willie Tan, executive officer of Skechers Greater China, Southeast Asia and South Korea, and JD Logistics’ six-axis robot, a logistics robot arm used in the company’s warehouse automation, all took to the stage to virtually ring the gong.
Yu closed: “In the future, JD Logistics will take ‘driving superior efficiency and sustainability for the global supply chain’ as its mission and use its technology-driven integrated supply chain to maximize its support of the real economy and the development of new businesses and continue to provide clients with the a high quality experience and enable them to enjoy the most trustworthy service. We will also work with our partners to reduce social logistics costs and drive efficiency improvement for business and society.”
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