JD(US:JD) 2 1 Shi Ji Jing Ji Bao Dao·2025-09-02 14:13Core Insights - JD.com is actively pursuing international expansion by acquiring local businesses, such as the Hong Kong-based supermarket and making a bid for European retail giant CECONOMY, indicating a clear strategic intent for globalization [2][4] - Unlike many cross-border e-commerce companies, JD.com is focusing on "localized operations" rather than just "cross-border exports," emphasizing the establishment of local teams and selling branded products [2][5] Group 1: Acquisition Strategy - JD.com has made a voluntary public offer to acquire all shares of CECONOMY at €4.60 per share, valuing the company at approximately €2.2 billion, with the acceptance period running from September 1, 2025, to November 10, 2025 [4] - This acquisition is seen as a significant move for JD.com to expand its presence in the European market, leveraging CECONOMY's established retail network and supply chain [5][6] Group 2: Localized Operations - JD.com aims to maintain CECONOMY's independent operations post-acquisition, focusing on enhancing its technology and operational capabilities to transform it into a multi-channel consumer electronics platform [7] - The integration of JD.com's supply chain management system is expected to optimize CECONOMY's inventory management and procurement processes, thereby reducing operational costs [7][8] Group 3: Competitive Landscape - JD.com's approach contrasts with other platforms like Temu and SHEIN, as it emphasizes quality and immediate experience over low prices, utilizing CECONOMY's brand reputation and physical network [9] - The company plans to promote 1,000 Chinese brands abroad while also introducing 1,000 overseas brands to China, aiming for a cumulative sales growth of ¥10 billion, thereby creating a bi-directional global retail ecosystem [9] Group 4: Challenges and Execution - Despite the ambitious strategy, JD.com faces challenges in replicating its efficient fulfillment model in Europe, where high labor costs and established competitors like Amazon present significant hurdles [10]