- Jul 08, 2020
- Business Update
JD.com Chairman and CEO Richard Liu Becomes Chairman of JD Digits
Richard Liu, Chairman and CEO of JD.com recently became chairman of JD Digits.
As a Nasdaq-listed company, following US SEC’s regulation, JD.com announced in a form 6-K released on June 25th that it “has entered into agreements with JD Digits, pursuant to which JD will, through a consolidated PRC domestic company, acquire an aggregate of 36.8% equity interest in JD Digits by converting its profit sharing right with respect to JD Digits as set forth in the Framework Agreement entered into between the two parties in 2017, and investing additional RMB1.78 billion in cash in JD Digits.”
The release also mentions, “In addition, on June 20, 2020, the shareholders of JD Digits passed a unanimous resolution to restructure JD Digits as a company limited by shares (“股份有限公司” in Chinese) and adopt the dual class voting structure.”
Note: all statements in the 6-K are covered by a Safe Harbor statement available here.