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Jingdong Logistics has selected bank of America and Goldman Sachs to prepare for this year's IPO in Hong Kong, with a valuation of US $40 billion

via:CnBeta     time:2021/1/4 12:04:47     readed:140

On January 4, according to IFR,Jingdong Logistics has selected bank of America and Goldman Sachs to prepare for its IPO in Hong Kong this year, and the company's valuation may reach about $40 billion.Previously, on December 30, Wang Zhenhui, the former CEO of Jingdong Logistics, resigned due to personal reasons, and the group appointed Mr. Yu Rui, the former chief human resources officer, to take over as the CEO of Jingdong Logistics.

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In the whole year of 2019, Jingdong's revenue from "new business" mainly focusing on logistics business is 23.9 billion yuan. In the previous two years, the revenue of Jingdong Logistics was RMB 6.022 billion and RMB 14.665 billion respectively, with an increase of 144% and 63%. From 2017 to 2019, the operating losses of Jingdong Logistics were 2.07 billion yuan, 5.137 billion yuan and 1.022 billion yuan respectively, with a total loss of 8.2 billion yuan in three years. In the third quarter financial report released earlier, the service revenue of Jingdong reached 23.8 billion yuan, an increase of 42%, of which the logistics revenue was 10.4 billion yuan, an increase of 73% year on year, which was the main reason for the growth of service revenue.

In February 2018, Jingdong introduced strategic investment in the logistics sector and raised about US $2.5 billion. Strategic investment holds about 19% equity of Jingdong Logistics, and Jingdong group holds 81% equity, which is the controlling shareholder.

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