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JD.com delivery deal for Valentine’s Day

BEIJING: February 14, 2018. China retailer JD.com is selling 18.6 percent of its subsidiary JD Logistics for an estimated US$2.5 billion.

JD.com Liu and Britains MayThe investors include Hillhouse Capital, Sequoia China, China Merchants Group, Tencent, China Life, China Development Bank Capital FOF, China Structural Reform Fund and ICBC International.

The financing is expected to close in the first quarter of 2018 and JD.com will retain an 81.4 percent stake in the company. Chairman and CEO Richard Liu (right) said the money will be used to further invest in automation, drones and robotics.

"The shift throughout global e-commerce towards our model is vindication of the path we chose," he declared. "JD Logistics will continue to support both JD.com's e-commerce business and the logistical needs for a wide range of industries for years to come."

JD.com has been operating its self-owned logistics system since 2007 and established JD Logistics as a stand-alone subsidiary in April 2017 to support six logistics networks, including normal-sized items, bulky items, cold chain, B2B, cross-border and crowd-sourced, covering 99 percent of China's population.

CEO Zhenhui Wang added: "Over the decade that we have built out our operations, initially to support our own e-commerce business, we have created the most
efficient, integrated and user-friendly logistics network in China. This financing will enable JD Logistics to further enhance its smart supply chain network with openness and integration. It is a major step, which will speed up our collaborative efforts with leading industry partners and build China's next-generation commercial infrastructure ecosystem."

JD.com Gross Merchandise Volume increased from RMB32.7 billion in 2011 to RMB658.2 billion in 2016. The company will announce its Q4 and 2017 full-year results on March 02, 2018.

Following a meeting with Britain's prime minister Theresa May at the beginning of February, Liu announced plans to sell £2 billion of UK goods to Chinese consumers by 2020.

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