Core Insights - JD Logistics has announced a business transfer agreement with JD.com to acquire its wholly-owned subsidiaries engaged in local instant delivery services, namely Dajiang and Dasheng, for a total consideration of approximately $270 million [2][5]. Group 1: Acquisition Details - The acquisition involves JD Logistics purchasing Dajiang and Dasheng, which are fully owned by JD.com, with a total price of about $270 million [2][5]. - The valuation method for the target business utilized the market approach, specifically the guideline public company method, focusing on the price-to-earnings (P/E) ratio due to the target business turning profitable in the first half of 2025 [5][6]. - The estimated market value of the target business's 100% equity is between $257 million and $284 million, after adjustments for market liquidity and control premium [6]. Group 2: Strategic Implications - The acquisition is expected to enhance JD Logistics' last-mile delivery capabilities, allowing for better resource integration, improved fulfillment capacity, operational efficiency, and user experience [7]. - This move aligns with JD Logistics' strategy for sustainable growth and profitability, reinforcing its competitive position in the industry [7]. - In the first half of 2023, JD Logistics reported total revenue of RMB 98.5 billion, a year-on-year increase of 14.1%, with external customer revenue contributing RMB 66.1 billion, representing 67.1% of total revenue [7].
京东物流对价约2.7亿美元收购京东旗下达疆及达盛，估值方式采用市场法