JD Logistics floats on Hong Kong Stock Exchange

Chinese e-commerce logistics giant JD Logistics has floated on the Hong Kong Stock Exchange, raising an estimated HK $24.11bn (£2.2bn) in its IPO.

In terms of revenue generated in 2020, JD Logistics is the largest integrated supply chain and logistics provider in China in 2020. It has over 1,000 warehouses that includes a fully unmanned warehouse capable of processing 1.3 million orders a day at peak capacity. It has 240,000 staff including 190,000 in-house delivery drivers.

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.”

The company says that the proceeds of the IPO are to be used to upgrade and expand its networks and to further develop technologies to use 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.”

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