Jingdong Industrials, JD.com’s supply‑chain technology arm, has begun investor‑education meetings in Hong Kong, marking the first step in a long‑planned IPO that could raise up to $500 million. The move follows a two‑year journey that started with a filing in March 2023 and culminated in regulatory approval from China’s securities regulator in September 2025.
In the first half of 2025, Jingdong Industrials generated operating revenue of CNY 10.3 billion (US$1.5 billion) and net profit of CNY 451 million (US$63.6 million), a 19% year‑on‑year increase in revenue and a 30% rise in profit. For the full year 2024, revenue was CNY 20.4 billion and net profit CNY 762 million, underscoring a steady growth trajectory that the IPO aims to monetize.
The company plans to deploy the proceeds to accelerate its industrial supply‑chain capabilities, expand internationally, and invest in artificial‑intelligence technologies that underpin its logistics and procurement platforms. JD.com, which holds a 79% stake, views the IPO as a way to unlock value for the unit while preserving control over its core retail and logistics businesses.
Hong Kong’s IPO market has rebounded sharply in 2025, with more than $32 billion raised by mid‑November, yet investors remain cautious after recent high‑profile flops. JD.com’s own Hong Kong‑listed shares have fallen about 18% this year, a decline that may temper enthusiasm for the spin‑off but also signals a potential discount for investors seeking exposure to the supply‑chain sector.
The listing is expected to be priced on December 8 2025 and will trade on the Hong Kong Stock Exchange on December 11 2025. With regulatory approval secured and a clear use‑of‑proceeds plan, the IPO positions Jingdong Industrials to capture growing demand for integrated supply‑chain solutions and AI‑driven logistics services in China and beyond.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.