JD to Acquire Controlling Interest in Kuayue Express
14 August 2020 - 6:30AM
JD.com, Inc. (the “Company”) (NASDAQ: JD; HKEX: 9618), China’s
leading technology driven e-commerce company transforming to become
the leading supply chain-based technology and service provider,
today announced that it has entered into a definitive agreement
under which Jingdong Express Group Corporation (“JD Logistics”), a
subsidiary of the Company, will acquire a controlling interest in
Kuayue-Express Group Co., LTD. (“Kuayue Express”), a renowned
modern integrated express transportation enterprise specializing in
“limited-time express service” in China, for a total consideration
of RMB3 billion through a combination of acquiring existing shares
and subscribing for newly issued shares of Kuayue Express, subject
to customary closing conditions. The Company expects to close this
transaction in the third quarter of 2020.
“We are pleased to collaborate with Kuayue
Express to provide customers with the best services available,”
said Zhenhui Wang, CEO of JD Logistics. “Kuayue Express is a
reliable delivery services provider and industry leader in express
courier services with innovative technology and advanced
operations. Collaborating with Kuayue Express advances our
integrated supply chain management, technology initiatives and
service expansion to third party merchants. We will leverage our
respective advantages and the synergy the collaboration creates to
enhance the client experience and increase overall supply chain
efficiency for JD and society at large.”
About JD.com
JD.com is a leading technology driven e-commerce
company transforming to become a leading supply chain-based
technology and service provider. The Company’s cutting-edge retail
infrastructure seeks to enable consumers to buy whatever they want,
whenever and wherever they want it. The Company has opened its
technology and infrastructure to partners, brands and other
sectors, as part of its Retail as a Service offering to help drive
productivity and innovation across a range of industries. JD.com is
the largest retailer in China, a member of the NASDAQ100 and a
Fortune Global 500 company.
Safe Harbor Statement
This announcement contains forward-looking
statements. These statements are made under the “safe harbor”
provisions of the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements can be identified by
terminology such as “will,” “expects,” “anticipates,” “future,”
“intends,” “plans,” “believes,” “estimates,” “confident” and
similar statements. Among other things, the description of the
proposed offering in this announcement contain forward-looking
statements. JD.com may also make written or oral forward-looking
statements in its periodic reports to the SEC, in its annual report
to shareholders, in press releases and other written materials and
in oral statements made by its officers, directors or employees to
third parties. Statements that are not historical facts, including
statements about JD.com’s beliefs and expectations, are
forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties. A number of factors could cause
actual results to differ materially from those contained in any
forward-looking statement, including but not limited to the
following: JD.com’s growth strategies; its future business
development, results of operations and financial condition; its
ability to attract and retain new customers and to increase
revenues generated from repeat customers; its expectations
regarding demand for and market acceptance of its products and
services; trends and competition in China’s e-commerce market;
changes in its revenues and certain cost or expense items; the
expected growth of the Chinese e-commerce market; Chinese
governmental policies relating to JD.com’s industry and general
economic conditions in China. Further information regarding these
and other risks is included in JD.com’s filings with the SEC and
the prospectus registered in Hong Kong. All information provided in
this press release and in the attachments is as of the date of this
press release, and JD.com undertakes no obligation to update any
forward-looking statement, except as required under applicable
law.
CONTACTS:
Investor RelationsRuiyu LiSenior Director of Investor
Relations+86 (10) 8912-6805IR@JD.com
Media+86 (10) 8911-6155Press@JD.com
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