Dec 11, 2020|
JD News Roundup Vol. 11
CORPORATE HIGHLIGHT: JD HEALTH IPO
JD Health listed on Hong Kong Stock Exchange (HKEX) on Dec. 8 with the ticker 6618.HK. The company held a celebration at JD.com headquarters in Beijing, virtually linked to the exchange in Hong Kong. In his remarks at the IPO ceremony, Lijun Xin, CEO of JD Health, said: Led by Richard Liu, Chairman of JD.com, we started providing healthcare services in 2014 in order to solve industry pain points and create value for society. “2020 is not only an extraordinary year for everyone, but also a year in which JD Health creates social value and JD Health is recognized and understood by society.” In the span of three months at the height of COVID-19, JD Health answered more than 10 million online consultation queries.
More IPO highlights:
- HK: JD Health to improve consumer service through omnichannel solution
- HK: JD Health’s next steps after IPO and COVID-19
BUSINESS UPDATES
Indonesian Ambassador to China visits JD HQ in Beijing: Ambassador Djauhari Oratmangun made his first visit to JD headquarters in Beijing on Dec. 9. In his discussion with Xiaobing Yan, senior VP of JD and president of JD international business, Oratmangun expressed hope that JD could bring more local products from Indonesia to China via its e-commerce platform. In the discussion, Yan mentioned that JD.ID would enhance cooperation with the local government and enterprises in Indonesia to introduce more of the country’s high quality products to China. Following his visit with Yan, Oratmangun joined JD for a livestream show in which he introduced popular Indonesian products and local culture to JD customers.
Indonesian ambassador Djauhari Oratmangun (L) shakes hand with Yan Xiaobing (R) , senior VP of JD and president of JD International Business
JD has become the first e-commerce platform to accept the digital yuan. The company is providing support for Suzhou’s digital yuan program. On Dec. 5, the municipal government of Suzhou, the second largest city in Jiangsu province (100km away from Shanghai), announced to distribute a total of RMB 20 million yuan (approx. US$3 million) in digital currency to its residents. The residents can receive digital red envelopes through an online lucky draw to be used online and offline. Selected products from JD’s first party business support digital yuan payment. Moreover, nearly 10,000 offline stores including JD’s offline home appliance stores and convenience stores accept the digital currency. In September, JD Digits and the People’s Bank of China’s Digital Currency Research Institute formed a partnership to promote the research and application of digital yuan.
JD will provide 15,000 jobs for the class of 2021. This includes 10,000 jobs provided by JD Logistics as an effort to train management talent from the ground up. In recent years, JD has created more than 2,000 types of jobs, appealing to graduates majoring in technology R&D, marketing, and more. As of Sept.30, 2020, the number of employees of listed and non-listed companies under JD’s umbrella exceeded 320,000 with a net increase of 60,000 since COVID-19 outbreak early this year, alone. By August of this year, the company already had given job offers to nearly 1,000 students majoring in technology in the class of 2021 as part of its commitment to recruit R&D talent prior to graduation.
JD launches the first 5G smart phone for the elderly: JD worked with several mobile phone brands to launch smart phones for elderly people through its Consumer-to-Manufacturer (C2M) initiative, helping seniors live more conveniently in a society filled with digital technologies. The company identified the difficulties elderly people face related to entertainment, transportation and communication with their children, and worked with mobile phone brands to improve the functions on traditional smart phones. The 5G smart phone that JD launched with ZTE is equipped with services such as remote assistance, detailed instructions, fast medical consultancy and more. For example, customers can download the app called “family time” developed by JD, and connect to their parents’ smart phones. Then customers can remind their parents remotely to take medicine or share family photos with them.
JD revealed major consumption trends of 2020 at the annual ceremony of the JD Golden List program on Dec. 10. JD Golden List releases official lists generated by different business categories of JD each month. The trends show consumers strong desire to shop for products that reflect their passions. JD also revealed the 100 “golden products” of the year, covering brands like Huawei, China Unicom, Xiaomi, Lenovo, SK-11, Ecovacs, and more brands in the categories of books, digital products, computers, consumer goods, fashion and health, which are selected from products on JD, based on customers’ data and feedback of industry experts.
JD will launch three SEVEN FRESH LIFE community grocery stores in Guangzhou between Dec. 18-25, providing local residents with a convenient fresh food shopping experience. The first SEVEN FRESH LIFE was opened in Beijing in late 2019.
Have a bit more time? Check out some of our recent long reads:
- In-Depth: JD New Markets – Aiming at Lower-Tier Regions: JD New Markets, an omnichannel B2B2C model has become the offline home court of JD.com. Learn how this business is serving China’s brick-and-mortar mom and pop stores and empowering them to increase efficiency and reduce costs.
- In-Depth: JD Helps China’s Elderly Embrace New Tech Frontiers: In the face of an ever-changing internet, many elderly have a deep-seated fear of behind left behind. JD has been making significant efforts to help the elderly embrace and enjoy the possibilities offered by the internet.
Aug 3, 2023|
JD.com Ranks 52nd on the 2023 Fortune Global 500
by Vivian Yang
Securing a position on the Fortune Global 500 list for the eighth consecutive year, JD.com proudly announces its rank of No.52 in the newly released 2023 edition, released on August 2, 2023. The annual ranking recognizes the largest companies measured by their revenues. In 2022, JD.com achieved a 9.9 percent year-over-year growth, reaching full-year net revenues of RMB 1.0462 trillion. This notable achievement also marked the first time JD.com surpassed the milestone of RMB 1 trillion yuan.
JD.com’s inclusion on the Fortune Global 500 list since 2016 demonstrates eight years of significant expansion and progress, as illustrated by the following figures:
- Created 45,000 new jobs.
- Expanded its customer base to nearly 600 million.
- Increased warehouses from 214 to over 1,500.
- Amplified the output value of real economies by nearly 4.8 times.
- Successfully reduced the fulfillment expense rate by over 20%.
These numbers reflect JD.com’s relentless pursuit of technological and service innovation in the supply chain sector. Leveraging these capabilities JD.com has bolstered its portfolio of businesses, which spans across e-commerce, logistics, technology, health, industrials, property management, insurance, and more. Furthermore, these capabilities have been instrumental in merging digital and physical economies across various sectors, generating societal value and benefiting a wider demographic.
Supporting Employment and Consumption
By harnessing its robust supply chain capabilities, JD.com is serving millions of merchants both online and offline. The company’s mission is to augment merchants’ operational efficiency and cost-effectiveness while offering consumers a superior shopping experience defined by variety, speed, quality, and value.
JD.com is committed to the welfare of its over 560,000-strong workforce and has invested nearly RMB 50 billion yuan in initiatives such as housing funds, relief, and family support for staff. In May, JD.com announced a significant investment of RMB 6 billion for the “JD Youth City” project, , offering nearly 4,000 furnished apartments and leisure facilities for employees and interns embarking on their careers. Moreover, JD’s extensive supply chain system is estimated to have created approximately 25 million stable jobs across a wide range of industries.
Promoting Digitalization and Rural Revitalization
In the realm of technological innovation, JD.com has invested over RMB 100 billion yuan in research and development over the past six years. The company’s focus has been on enhancing supply chain efficiency and sharing infrastructure and technologies with traditional enterprises to usher them into the digital age. For instance, JD’s consumer-to-manufacturer (C2M) platform has enabled thousands of brands to decrease product demand research time by nearly 80 percent and reduce new product release cycles by nearly 70 percent.
Moreover, JD’s supply chain infrastructure and digital technologies have brought about positive changes in rural areas. The “March to Rich” plan, launched in October 2020, has generated over RMB 1 trillion in output value in rural regions over the past three years, thereby facilitating efficient sales of agricultural products for farmers while empowering them with sustainable development models.
JD.com’s “35711 Vision”
On its 20th anniversary in June, JD.com unveiled the “35711 Vision”, an ambitious roadmap for the next two decades. The vision outlines goals to establish three companies with over RMB 1 trillion in revenue and RMB 70 billion in net profits, positioning five JD companies on the Fortune Global 500, and seeing seven startups become publicly listed companies and attain a market value of RMB 100 billion. JD.com also plans to contribute RMB 100 billion in taxes and create over one million jobs.
Beyond financial milestones. The company aims to deliver substantial societal value, including providing over RMB 3 trillion in benefits to front-line employees, increasing the income of 100 million farmers, aiding 60 million small and medium-sized enterprises in their digital transformation, and establishing a global supply chain infrastructure that covers economies that represent 80% of the world’s economic volume., JD.com is also deeply committed to achieving carbon neutrality, further underscoring its dedication to environmental sustainability.
JD Golden List Reveals Consumption Trends in China
