Core Viewpoint - JD Industrial Co., Ltd. officially listed on the Hong Kong Stock Exchange, raising approximately HKD 2.827 billion with an offering price of HKD 14.1 per share, marking a new development phase for the company [1] Group 1: Company Overview - JD Industrial was established in 2017, focusing on providing intelligent supply chain technology and service solutions for industrial enterprises [1] - The company aims to enhance supply chain efficiency and reduce operational costs through its philosophy of "letting data flow more and goods run less" [1] Group 2: Financial Performance - Total revenue from ongoing operations is projected to grow from RMB 14.1 billion in 2022 to RMB 20.4 billion in 2024, with a compound annual growth rate (CAGR) of 20.1% [1] - Adjusted net profit is expected to increase from RMB 710 million in 2022 to RMB 910 million in 2024, with a CAGR of 12.8% [1] - For the first half of 2025, the adjusted net profit reached RMB 500 million [1] Group 3: Market Presence - As of June 30, 2025, JD Industrial serves over 10,000 key enterprises and millions of SMEs, including around 60% of China's Fortune 500 companies and over 40% of global Fortune 500 companies operating in China [2] - The company collaborates with over 158,000 manufacturers, distributors, and agents, offering 80 categories and approximately 81.1 million SKUs of industrial products [2] Group 4: Strategic Initiatives - JD Industrial launched the "Smart Empowerment for Thousands of Industries to Reduce Costs" initiative, targeting cost reduction in the industrial sector, with specific plans for automotive manufacturing and energy battery industries [2] - The company aims to help China's industrial sector achieve a cost reduction of RMB 1 trillion over the next five years [2]

Core Viewpoint - JD Industrial Co., Ltd. officially listed on the Hong Kong Stock Exchange, raising approximately HKD 2.827 billion with an offering price of HKD 14.1 per share, marking a new development phase for the company [1][3]. Financial Performance - JD Industrial's total revenue is projected to grow from CNY 14.1 billion in 2022 to CNY 20.4 billion in 2024, with a compound annual growth rate (CAGR) of 20.1% [3]. - Adjusted net profits are expected to increase from CNY 710 million in 2022 to CNY 910 million in 2024, achieving a CAGR of 12.8% [3]. Market Position and Strategy - The company has become a leading provider of industrial supply chain technology and solutions in China, serving over 10,000 key enterprise clients and millions of SMEs, including around 60% of China's Fortune 500 companies [4]. - JD Industrial focuses on three main areas: MRO (Maintenance, Repair, and Operations), BOM (Bill of Materials), and spare parts, offering approximately 8.11 million SKUs across 80 categories [4]. Industry Initiatives - The company launched the "Smart Empowerment for Thousands of Industries, Trillion Cost Reduction" initiative, aiming to help the Chinese industrial sector achieve significant cost reductions over the next five years [4]. - JD Industrial developed the JoyIndustrial supply chain model to address high costs and low efficiency in the industrial sector, utilizing deep industry insights for optimized decision-making [4]. International Expansion - JD Industrial provides tailored overseas supply chain management services for over 100 Chinese enterprises, covering countries such as Vietnam, Indonesia, Hungary, Thailand, and Brazil [5]. - The company aims to enhance supply chain efficiency and collaboration across various sectors, including automotive manufacturing and electronics [5].

"京东系"在港股市场已经拥有京东集团（09618.HK）、京东健康（06618.HK）、京东物流（02618.HK）三家上市企业。 而在12月11日，京东工业（07618.HK）也登陆了港股市场，"京东系"的资本版图获得了进一步扩张。 从首日表现来看，京东工业开盘即遭遇大幅低开，随后出现强势上攻，不过截至发稿时间，其股价仍跌逾2%，股价现为13.80港元/股，仍低于14.10港元/股 的发行价，处于破发状态。 京东工业隶属于电商巨头京东集团旗下，是一家工业供应链技术与服务提供商，致力于通过工业供应链的数字化与智能化，帮助客户实现保供、降本、增效 及合规目标。 京东工业通过"太璞"这一"数"（数智）、"实"（商品）结合的全链路数智化工业供应链解决方案，提供广泛的工业品供应和数智化供应链服务，以满足客户 的多样化需求。"太璞"建立在公司端到端的供应链数智化基础设施之上，涵盖商品、采购、履约及运营。京东工业主要通过向客户销售工业品及提供相关服 务获得收入。 根据灼识咨询的资料显示，京东工业于2024年在中国的工业供应链技术与服务市场拥有最广泛的客户覆盖。截至2025年6月30日前的十二个月内，京东工业 服务约1.1 ...

Core Viewpoint - JD Industrial officially listed on the Hong Kong Stock Exchange with a public offering price of HKD 14.1 per share, raising approximately HKD 2.827 billion for enhancing supply chain capabilities and strategic investments [1][3]. Financial Performance - Total revenue for JD Industrial is projected to grow from CNY 14.1 billion in 2022 to CNY 20.4 billion in 2024, with a compound annual growth rate (CAGR) of 20.1% [1][3]. - Adjusted net profit is expected to increase from CNY 710 million in 2022 to CNY 910 million in 2024, with a CAGR of 12.8% [1][3]. Client Base and Market Reach - JD Industrial serves over 10,000 key enterprise clients and millions of SMEs, including around 60% of China's Fortune 500 companies and over 40% of global Fortune 500 companies operating in China [2][4]. - The company focuses on MRO, BOM, and spare parts, collaborating with over 158,000 manufacturers, distributors, and agents, offering 80 categories and approximately 81.1 million SKUs of industrial products [2][4]. Strategic Initiatives - JD Industrial launched the "Smart Empowerment for Industries, Trillion Cost Reduction" initiative, aiming to help the Chinese industrial sector achieve significant cost reductions over the next five years [2][4]. - The company developed the JoyIndustrial supply chain model to address high costs and low efficiency in the industrial sector, utilizing intelligent decision-making and process optimization [5]. International Expansion - JD Industrial provides overseas services for over 100 Chinese enterprises, covering countries such as Vietnam, Indonesia, Hungary, Thailand, and Brazil, enhancing procurement efficiency and collaboration across supply chains [5].

Core Viewpoint - JD Industrial Technology (京东工业) has been listed on the Hong Kong Stock Exchange, marking it as the sixth company under Liu Qiangdong's leadership to enter the capital market, with an opening price of HKD 12.73, reflecting a 9.72% drop and a total market capitalization of approximately HKD 34.08 billion [1]. Company Overview - JD Industrial is a provider of industrial supply chain technology and services, focusing on digital transformation to help clients ensure supply, reduce costs, enhance efficiency, and maintain compliance [1]. - The company is projected to become the largest service provider in China's industrial supply chain technology and services market, with a market share of 4.1% based on transaction volume in 2024 [1]. Financial Performance - Revenue for JD Industrial is expected to grow from CNY 141.35 billion in 2022 to CNY 203.98 billion in 2024, with net profits transitioning from a loss of CNY 12.69 billion in 2022 to a profit of CNY 7.62 billion in 2024 [2]. - For the first eight months ending August 31, 2025, the company recorded total revenue of CNY 141 billion, representing an 18.9% increase compared to the same period in 2024 [3]. Shareholding Structure - Prior to the IPO, JD.com, through its subsidiaries, held approximately 78.84% of JD Industrial's issued share capital [4][6]. - Following the global offering and adjustments, JD.com is expected to control about 72.34% of the issued share capital of JD Industrial [6]. - Liu Qiangdong has been granted a 3.68% equity stake in recognition of his contributions to the company [5]. Governance and Control - Liu Qiangdong controls approximately 72.4% of JD.com’s total voting rights, which includes shares held by various entities associated with him [7]. - The company will continue to operate as a subsidiary of JD.com post-listing, with a governance structure that includes JD.com and its associated entities as the controlling shareholders [8].

每经AI快讯，12月11日，京东工业港股上市首日低开7.8%。 ...

Core Viewpoint - The article highlights the transformation of China's manufacturing industry through digitalization and supply chain optimization, exemplified by JD Industrial's role in enhancing efficiency and reducing costs for manufacturing enterprises [4][6][20]. Group 1: Manufacturing Landscape - As of August 2024, the total number of manufacturing enterprises in China reached 6.03 million [1]. - These factories produce a wide range of products, from high-end manufacturing equipment to daily consumer goods, contributing significantly to global supply [2][3]. Group 2: Supply Chain Optimization - JD Industrial has streamlined the procurement process for companies like XCMG, reducing the number of suppliers from over 170 to 18 and cutting order fulfillment time from over 20 days to 3-5 days [4][12]. - The company has developed a comprehensive supply chain solution that integrates digital capabilities across the entire supply chain, serving over 11,000 core industrial enterprises and millions of SMEs [6][16]. Group 3: Standardization and Efficiency - JD Industrial has established a standardized product library to address the complexities of industrial procurement, which includes over 1 billion global screw SKUs [7][9]. - The implementation of the "Tai Pu" integrated supply chain solution has significantly improved procurement efficiency and operational management for various industries, including automotive and steel [10][14]. Group 4: Financial Performance - JD Industrial's revenue grew from 14.135 billion yuan in 2022 to 17.336 billion yuan in 2023, with projections to exceed 20.4 billion yuan in 2024, reflecting a compound annual growth rate of 20.13% [20]. - The company transitioned from a net loss in 2022 to profitability in 2023, with net profit soaring to 762 million yuan in 2024 [20]. Group 5: Market Potential - The total cost of China's industrial supply chain is estimated at 115.2 trillion yuan in 2024, with potential savings of 6.8 trillion yuan through supply chain innovation and digital transformation [21]. - JD Industrial's IPO marks a new beginning for its growth in the industrial sector, emphasizing the importance of digital and physical integration in supply chains [21].

Core Insights - China is leading the global industrial supply chain market with a market size of 11.4 trillion yuan, but faces systemic issues of inefficiency and lack of strength in its industrial supply chain [2] - The digital penetration rate of China's industrial supply chain is projected to rise from 6.2% in 2024 to 8.2% by 2029, which is expected to drive rapid growth in the industrial supply chain technology and service market, potentially exceeding one trillion yuan by 2029 [2] - JD Industrial aims to enhance operational efficiency in the industrial world through technology, positioning itself as a leader in the transformation driven by "Artificial Intelligence+" and new industrialization [2][3] Company Overview - JD Industrial originated from JD Group's enterprise business and became an independent unit in 2017, focusing on empowering industrial supply chains with its digital supply chain technology [4] - The company has developed a unique integrated supply chain solution that combines digital and physical aspects, enhancing customer experience and driving cost reduction [4] - JD Industrial's "Tai Pu" solution aims to optimize internal supply chains for enterprises, helping them save 10% to 30% on procurement costs through full-link digitalization [5] Technological Innovations - JD Industrial has created the Joy Industrial model, which addresses long-standing pain points in the industrial supply chain, such as data silos and management complexities [7][9] - The model leverages over 81.1 million industrial SKU data and insights from more than 40 industry practices, providing deep industry understanding and serving over 10,000 key industrial enterprises [9] - The company is also developing intelligent agents for various applications, significantly improving efficiency and reducing management costs [10] Market Response - JD Industrial's shares were oversubscribed by approximately 60.25 times in the Hong Kong public offering, indicating strong investor confidence [3] - The company aims to assist the Chinese industrial sector in achieving a "trillion yuan" cost reduction over the next five years through targeted industry solutions [11] Future Directions - JD Industrial is expanding its services internationally, providing "accompanying overseas" services to over 100 enterprises across various countries [12] - The company offers multiple supply chain solutions tailored to different stages of overseas operations, including a one-stop solution for cross-border goods [13][14] - The listing of JD Industrial marks a significant shift in the industrial supply chain's perception from a "cost center" to a "digital efficiency engine" [15][16]

大湾区聚变力量(07618)发布公告，谭颂燊的董事会主席及执行董事职务自2025年12月4日起暂停。文苑 仪女士已辞任公司执行董事一职，自2025年12月4日起生效，以腾出更多时间处理其个人事务。 谭晋杰先生已获委任为公司执行董事兼董事会联席主席；高雄先生已获委任为公司独立非执行董事及审 核委员会成员；委任陈容卓女士为公司提名委员会成员，均自2025年12月4日起生效。 ...

本次全球发售的联席保荐人为BofA Securities、UBS、Haitong International及Goldman Sachs，另有Huatai International、CITIC Securities等机构担任联席全球协调人及联席账簿管理人。京东工业预计于2025年12 月11日在香港联合交易所挂牌上市，股份代号为7618。 点击查看公告原文>> 声明：市场有风险，投资需谨慎。 本文为AI大模型基于第三方数据库自动发布，任何在本文出现的信 息（包括但不限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成 个人投资建议。受限于第三方数据库质量等问题，我们无法对数据的真实性及完整性进行分辨或核验， 因此本文内容可能出现不准确、不完整、误导性的内容或信息，具体以公司公告为准。如有疑问，请联 系biz@staff.sina.com.cn。 香港公开发售方面，有效申请数目为72,234份，认购倍数达60.52倍，国际配售认购倍数为7.88倍。由于 未触发回拨机制，香港公开发售最终股份数目维持21,121,000股，占全球发售股份总数的10%；国际配 售股份数目为190,087, ...