Chinese e-commerce giant seeks billions in HK listing for tech innovation

2020-06-18 17:09:18Xinhua Editor : Gu Liping ECNS App Download

Chinese e-commerce giant saw its share price leap 5.7 percent on its Hong Kong debut Thursday, after raising 29.77 billion HK dollars (about 3.8 billion U.S. dollars) in a secondary public offering.

On the first trading day,'s market value hit a high of 738.5 billion HK dollars.

The firm was listed on the Nasdaq in New York in 2014. The company's statistics showed that in the past six years, its annual net income increased from 69.34 billion yuan (about 9.8 billion U.S. dollars) to 576.9 billion yuan and its number of annual active users increased from 47 million to 387 million. Over the same period, its storage area increased from 1.3 million square meters to 17 million square meters and its number of employees increased from 33,000 to more than 220,000.

"We have come to Hong Kong not just because we want to share our promise and development with more clients... but because we have absolute confidence in China and the future of China's economy," JD's Retail Chief Executive Officer Xu Lei said on Thursday.

The secondary public offering came at the time of's "618" online shopping promotion, which was created by the company to mark its anniversary in June. The company recorded 201.5 billion yuan from the sale event lasting from June 1 to 18 in 2019, up 26.6 percent year on year.

Xu said 17 years ago, was founded when society was facing the outbreak of the SARS epidemic. The Beijing-based e-commerce start-up has since grown into a technology and service enterprise based on a supply chain from retail to logistics to digital technology and industrial development.

The listing in Hong Kong is expected to further expand the company's scale and its supply chain-based technical service capabilities, Xu said. 


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