Dec 11, 2025|
7618.HK: JINGDONG Industrials Officially Lists on the HKEX
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.”
(vivian.yang@jd.com)
Nov 26, 2025|
JINGDONG Property And MODON Announce Partnership Agreement – MoU Signed to Develop 2 Million Sqm of Industrial and Logistics Assets across Saudi Arabia
November 26, 2025 – Riyadh – The Saudi Authority for Industrial Cities and Technology Zones (MODON) and JINGDONG Property, JD.com’s infrastructure investment and management platform, signed a Memorandum of Understanding (MoU) at the UNIDO General Conference (UNIDO GC21) in Riyadh to partner in developing and operating two million square meters of industrial and logistics projects across MODON’s industrial cities. The new partnership is an important step in JD.com’s investment in the Kingdom of Saudi Arabia as the company builds out its businesses in the Region.
The signing ceremony was attended by H.E. Mr. Bandar bin Ibrahim Al-Khorayef, Minister of Industry and Mineral Resources, Eng. Majed Rafed Al-Argoubi, CEO of MODON, and Mr. Feng Guo, General Manager of JD.com Middle East, underscoring the strategic importance of the collaboration.
JINGDONG Property will bring its strong expertise in developing, operating, and managing industrial and logistics assets, as well as attracting institutional capital for large-scale real estate programs. This partnership demonstrates the company’s ability to deliver high-quality projects and strengthen the Kingdom’s industrial and logistics investment environment.
JINGDONG Property and MODON will focus on developing and managing logistics and industrial assets across key locations in Saudi Arabia, including Riyadh, Jeddah, and Dammam. The partnership between JINGDONG Property and MODON supports Saudi Arabia’s global competitiveness by acheiving targets outlined in the National Industrial Strategy and Saudi Vision 2030. These targets include raising the sector’s GDP contribution, enhacing local content, boosting exports, and increasing private-sector participation in infrastructure and superstructure development projects.
The first pilot will land in Jeddah Industrial City with an area of exceeding 40,000 sqm and will be followed by additional developments in the Riyadh region. Marking JINGDONG Property’s first Greenfield Project in Saudi Arabia, the Jeddah project will be developed into modern Grade-A speculative warehousing facilities certified with BREEAM Excellence, delivering sustainable spaces through smart automation and built-to-suit (BTS) solutions. It is designed to meet the rising demand for high quality, efficient storage and logistics space in the Western Region, especially in the industries of FMCG, e-commerce, automotive, food and pharmaceuticals.
JINGDONG Property and MODON both emphasized that this strategic partnership marks an important step in strengthening the Kingdom’s industrial and logistics ecosystem and reinforcing Saudi Arabia’s position as a global hub.
About MODON
Since its establishment in 2001, Modon has been undertaking the development and supervision of industrial lands and integrated infrastructure. Today, it oversees 39 existing and under development industrial cities across the Kingdom, in addition to private industrial cities and complexes. Modon succeeded in raising the area of developed industrial lands until now nearly 220 million m² . These cities manage 8000 industrial and investment contracts and more than 4000 factories between producer, existing and under construction and establishment.
About JINGDONG Property, Inc.
JINGDONG Property, Inc., also known as JD Property, is a leading and rapidly growing modern infrastructure investment and asset management platform of JD.com, Inc. Its business includes investment, development and asset management of logistics parks, business parks, data centers and others. As the cornerstone of JD.com’s supply chain ecosystem, JINGDONG Property is equipped with deep insights into merchandise and logistics flows and has a unique ability to integrate business resources. Leveraging our core competencies across infrastructure assets, development expertise, service capabilities and actionable insights, we provide bespoke, holistic and intelligent infrastructure. As of September 30, JINGDONG Property manages more than 270 infrastructure projects in China and worldwide.
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