- Sep 18, 2020
- Business Update
JD Digits’ Merchant and Enterprise Solutions Contribute over Half of Revenue
by Ella Kidron
According to JD Digits’ prospectus for its planned IPO on the Science and Technology Innovation Board of the Shanghai Stock Exchange, the company’s digital solutions for merchants and enterprises accounted for 52.37% of revenue as of June 2020. Solutions for financial institutions accounted for 41.48% of revenue, while government and other clients made up 5.57%, and other business made up 0.57%. Benefitting from growth in smart marketing and smart city, the company’s government and other client digitization solutions grew 437.23%. Revenue CAGR for the past three years was 239.05%.
JD Digits is focused on aggregating its products and capabilities, the needs of external customers and the capacity of its third party ecosystem partners to build a unique, full-service “Technology + Industry + Ecosystem” model. The company currently has 600 financial institution clients including commercial banks, insurance companies, funds, trusts and securities companies. It has served one million small and micro enterprises, 200,000 small and medium-size enterprises and 700 large business centers with its business and technology solutions. In terms of government and other client services, JDD has served more than 40 urban public service organizations with the smart city operating system as its core product. It has a huge IoT marketing platform with over 15 million self-operated and alliance media points, covering more than 300 cities and more than 600 million people.
JD Digits has gone through three stages of development, from being a digital finance provider from 2013-2015, to a financial technology provider from 2015-2018, to its current role as a digital technology player. It has already pioneered a new model of merchant and enterprise service-driven digital technology company. Backed by the support of JD.com, JD Digits has built a solid ecosystem, which consists of all kinds of clients in the JD.com ecosystem, as well as clients in the financial institutions, merchants and enterprises, government and more based on its own digital technology capabilities.