Oct 20, 2020|
JD Digits: A Seven-year Unicorn Enables Industrial Digitalization
by Ling Cao
JD Digits (JDD), a leading digital technology company that has its roots in JD.com, celebrated its 7th birthday on October 18th. Over the course of these years, the company has cooperated with various industries on digital solutions, positioning itself as a digital technology provider. Now, its valuation has reached more than RMB 200 billion yuan.
According to its IPO prospectus, as of the end of June, JDD has recommended over 2 million deposit clients to financial institutions, over 22 million individual and micro and small enterprise loan clients, and has helped issue nearly 10 million credit cards . Additionally, it has recommended tens of millions of clients for financial institutions and insurance companies for purchasing financial products and insurance.
JDD’s digital technology has expanded to intelligent cities, as well as marketing. According to the prospectus, as of the end of June, JDD’s intelligent city operating system has serviced over 40 public service institutions; and its smart offline marketing solutions have covered over 300 cities across China, reaching over 600 million impressions. For example, in September, JDD helped Nantong, Jiangshu province, build China’s first governance command center, which enables digital city management, featuring precise transportation forecasts, intelligent monitoring for hazardous chemicals, environmental conditions monitoring and more, in addition to providing visual reports to manage the city.
During the epidemic, JDD has leveraged its digital technology to help farmers overcome difficulties. Guanghui Wang, a vegetable grower in the countryside outside Beijing, used JDD’s online platform for marketing efforts, enabling him to boost sales. As a result of JD’s support, the annual output of vegetables is upward of 50 tons, and his monthly online revenue is now reaching over RMB 20,000 yuan.
Official government data shows that industrial digitalization accounts for 80.2% of the digital economy, which is quickly becoming the main driving force for digital economic development.
“Industrial digitalization needs deep integration of know-how between digital technology and industries,” said Shengqiang Chen, CEO of JD Digits. “This shared future will enable a larger impact.”