Oct 9, 2020|
Airline Sold for RMB 800 Million Yuan on JD Auction
by Vivian Yang
An airline company was sold on JD Auction at RMB 800 million yuan on Sept 30th, marking not only a landmark for online auctions, but also the first airline auction event in China’s civil aviation history.
The airline is LJ Air or Longjiang Airlines Co.Ltd based in Harbin, Heilongjiang province in Northeast China. Nighty-eight percent of its stock rights were sold in the online auction with a premium rate as high as 145%.
LJ Air is the smallest airline in China, running only five rented A320 aircrafts between Harbin and several cities in China including Hefei, Zhuhai, Yinchuan, Lanzhou and Urumqi. It was founded in 2014 when investments of social capital were encouraged in the airline industry. However, due to limited resources and scale, LJ Air has struggled in the past few years, and the COVID-19 outbreak was the last straw.
Prior to the auction, the company was evaluated at RMB 419 million yuan. Its total assets were RMB 1.234 billion yuan, with liabilities of RMB 822 million yuan, which means its asset-liability ratio is 66.61%.
As the auction unfolded online, 33,851 people watched the process on JD.com. Experts are interpreting the sale as a strong sign for the country’s domestic tourism recovery following the lockdown caused by the epidemic earlier this year. The sale at the premium also reflects the value of scarce licenses of airlines operating in China that LJ Air possesses and investors’ continued confidence in the future of small and medium-sized airline companies in China.
Nov 7, 2024|
CIIE 2024: JD.com to Expand Imports of Specialty Brands, Strengthen Healthcare Partnerships, and Enhance Logistics
At the 7th China International Import Expo (CIIE) on November 5, JD Super, the supermarket division of JD.com, announced a major initiative to broaden its selection of imported specialty. Over the next three years, JD Super plans to introduce over 1,000 new international brands to meet the increasing demand for high-quality, diverse imported goods.
Meeting the Growing Demand for Quality Imports
According to JD Worldwide’s “White Paper on 2024 China Cross-Border Consumption Trends,” more than 80% of Chinese consumers are interested in imported products, with many prioritizing authenticity, quality, and fast delivery. In response, JD has significantly expanded its range of international offerings. During the ongoing Singles’ Day Grand Promotion, sales of cross-border products have surged, with more than 600 brands experiencing a sales increase of over 100% compared to last year.
Strengthening High-Quality Food Partnerships
Demonstrating JD.com’s commitment to sourcing high-quality products, JD Super signed a new procurement agreement at CIIE with Huadong Foods and Teys, a major Australian beef brand under Cargill. Under this agreement, JD Super and Huadong Foods will procure $50 million of Teys beef throughout 2025. This partnership underscores JD’s strategy of collaborating with trusted suppliers to provide high-quality, affordable beef to Chinese consumers.
Delivering Authentic Global Goods Efficiently
JD Logistics has built a robust logistics network that spans bonded, direct mail, and overseas warehouses, facilitating fast deliveries of imported items across categories such as electronics, fashion, beauty, food, and baby products. In many major cities, delivery times have been reduced to under 48 hours.
For instance, JD Super’s partnership with Raub of Malaysia enables the import of Musang King durians, which are harvested at peak ripeness and air-shipped with cold chain logistics for delivery within 24 hours. Additionally, JD.com also secured an early supply of Chilean cherries, available since October, which can be delivered in as little as 30 minutes in many areas through JD NOW, its on-demand retail service.
JD.com’s “JD National Pavilions” program, which features over 150 country-themed flagship stores from more than 70 countries and regions, continues to be a cornerstone of its import strategy. Supported by embassies and reputable organizations, this initiative offers Chinese consumers access to premium products and cultural experiences from around the world. In April, JD launched the JD National Pavilion of Mali, introducing popular items like shea butter and garnering over 40,000 followers.
Expanding Healthcare and Logistics Partnerships
JD Health is also making strides at CIIE by strengthening partnerships with leading global healthcare companies, including Merck, Bayer, and Roche. As “China’s premier online health access point,” JD Health is committed to integrating digital and physical healthcare resources to improve access and convenience for patients.
Key collaborations include initiatives with Haleon to promote brain health and anti-aging for the “silver economy,” with MSD China on a digital diabetes management model, and with Teva Pharmaceuticals to provide patient education for conditions such as tardive dyskinesia (TD) and Huntington’s disease (HD).
On the logistics front, JD Logistics announced plans to double its overseas warehouse space by 2025 and expand its network of bonded and direct mail warehouses. JD Express now serves over 60 countries, enhancing cross-border delivery efficiency and supporting both brands and consumers.
Through these efforts, JD.com reaffirms its commitment to sourcing and delivering authentic, high-quality imported products to Chinese consumers, supported by an advanced supply chain that ensures a superior shopping experience.
(vivian.yang@jd.com)
JD.com’s Smart Home Solution Arms Tujia’s B&B Properties
