$JD.com (JD.US)$ $JD-SW (09618.HK)$ What's going on? Another two companies are being spun off for listing. This will make nearly five or six companies listed, and the key point is that all these businesses are dependent on JD.com’s main e-commerce operations...
Taking the wheels off isn't enough; they even split the rims and tires to sell separately. It’s surprising that within the logistics sector, they managed to spin off both JD Logistics and JD Property (those Asian warehouses). I always thought JD Logistics covered everything, only to realize it’s just a delivery service. Moreover, Jingzao from JD.com has also been separated to raise funds for a future IPO. These all compete in the same industry. In the future, JD.com will hang on by a thread, nurturing these subsidiaries to produce results since Richard Liu holds a major stake in them. I don’t know the exact percentage, but a few years ago, in the IPO prospectus of JD Finance, Richard Liu held more than 50% of the shares.