-- On December 11, 2025, JINGDONG Industrials (also known as JD Industrials or JDi; stock code: 7618.HK), a subsidiary of JD.com and China’s leading industrial supply chain technology and service provider, commenced trading today on the Main Board of The Stock Exchange of Hong Kong.
According to the HKEX announcement, the final offer price has been set at HK$14.1 per share. The global offering is expected to raise approximately HK$2.827 billion, assuming the overallotment option is not exercised.
Since its founding in 2017, JINGDONG Industrials has stayed focused on its mission: let data flow freely while minimizing unnecessary physical movement of goods. This approach has propelled the company to become China’s leading industrial supply chain technology provider by 2024 GMV (gross merchandise value), according to China Insights Industry Consultancy.
This successful listing opens a new chapter for JINGDONG Industrials. The proceeds of the listing will be used to strengthen the company’s industrial supply chain capabilities, accelerate geographic expansion, and pursue selective strategic investments and acquisitions, all designed to help customers around the world achieve greater efficiency and lower operating costs.
Financially, JINGDONG Industrials has delivered consistent growth. Revenue from continuing operations grew from RMB 14.1 billion in 2022 to RMB 17.3 billion in 2023 and RMB 20.4 billion in 2024, reflecting a compound annual growth rate (CAGR) of 20.1%. For the eight months ending August 31, 2025, revenue reached RMB 14.1 billion, an 18.9% year-over-year increase.
JINGDONG Industrials also reported robust profitability with an adjusted net profit of RMB 710 million in 2022, RMB 820 million in 2023, and RMB 910 million in 2024, achieving a CAGR of 12.8%. In the first half of 2025, the company recorded an adjusted net profit of RMB 500 million.
JINGDONG Industrials currently serves approximately 11,000 key enterprise customers and millions of small and medium-sized enterprises (SMEs), including around 60% of China’s Fortune 500 companies and over 40% of Global Fortune 500 companies operating in China. Through its platform, the company connects more than 158,000 manufacturers, suppliers, and distributors. It offers 81.1 million SKUs across 80 product categories in the core areas of MRO (maintenance, repair, and operations) products, BOM (bill of materials) components, and spare parts.
Powered by the Taipu, an extensive digital supply chain solution. and JoyIndustrial, one of the first large language models designed for industrial supply chain, JINGDONG Industrials helps thousands of industrial customers optimize forecasting, fulfillment, and overall cost structures.
Song Chunzheng, CEO of JINGDONG Industrials, stated: “Supported by JD.com’s premier supply chain ecosystem, JINGDONG Industrials will continue to invest in digital intelligence technologies to create greater value for industries, partners, customers, and now our shareholders. The company is grateful for the trust shown by investors and remains committed to delivering sustainable long-term returns.”
Release ID: 89178461
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