Core Viewpoint - JD Industrial officially listed on the Hong Kong Stock Exchange on December 11, becoming the fifth publicly traded company under Liu Qiangdong's umbrella, expanding the "JD system" of listed companies [1] Group 1: Company Overview - JD Industrial focuses on providing digital and intelligent supply chain technology and service solutions for industrial enterprises since its establishment in 2017 [2] - The company has experienced several rounds of financing prior to its IPO, with notable investors including GGV Capital and Sequoia China [2] Group 2: Financial Performance - Projected total revenue for JD Industrial from 2022 to 2024 is 14.1 billion, 17.3 billion, and 20.4 billion yuan, with a compound annual growth rate (CAGR) of 20.1% [2] - Adjusted net profit for the same period is expected to be 710 million, 820 million, and 910 million yuan, with a CAGR of 12.8% [2] - In the first half of 2025, the company achieved total revenue of 14.1 billion yuan, representing a year-on-year growth of 18.9% [2] Group 3: IPO Details - The IPO was priced at HKD 14.1 per share, raising approximately HKD 2.827 billion in net funds, excluding the over-allotment option [1] - The public offering was oversubscribed by 60.52 times, while the international offering was oversubscribed by 7.88 times [1] - Major cornerstone investors included M&G, CPE Investment, and others, collectively accounting for approximately 44.45% of the global offering [2] Group 4: Ownership Structure - Post-IPO, Liu Qiangdong controls approximately 75.71% of the voting rights through JD Group and other entities [2]

截至2025年6月30日止十二个月，京东工业服务客户覆盖超过1万家重点企业及数百万家中小企业，其中 包括约60%的中国《财富》500强企业及逾40%的在华全球《财富》500强企业。公司聚焦MRO（非生产 物资）、BOM（生产原材料）及备品备件三大场景，合作超15.8万制造商、分销商及代理商，提供80 个品类、约8110万SKU的工业产品。 依托供应链基础设施与数智技术优势，京东工业联合合作伙伴发起"智赋千行万亿降本"产业行动，推出 汽车制造、能源电池等十大工业行业场景专属方案，并提出未来五年助力中国工业产业实现"降本万 亿"的目标。值得一提的是，京东工业是刘强东主导的第六家上市公司，此前京东集团、京东健康、京 东物流、德邦物流及达达集团已先后上市。 京东工业股份有限公司（股票代码：7618.HK）于今日正式登陆香港联合交易所主板。根据港交所公 告，公司公开发行价定为每股14.1港元，若不行使超额配股权，全球发售募集资金净额约为28.27亿港 元。此次上市标志着京东工业进入新发展阶段，募集资金将主要用于增强工业供应链能力、跨地域业务 拓展及潜在战略投资等领域，以进一步提升客户供应链效率并降低运营成本。 京东工业 ...

托比网消息，北京时间12月11日，京东工业股份有限公司于香港联交所主板正式上市，股票代码为$京东工业(HK|07618)$。据港交所公告，京东工业公开 发售价定为每股14.1港元，若不行使超额配股权，全球发售募集资金净额约28.27亿港元。 京东集团SEC委员、京东工业CEO宋春正表示，"我们将依托京东超级供应链，持续强化数智供应链技术和服务能力，为产业、为上下游伙伴和客户创造 更大价值，为投资者带来长期回报。" 截止发稿，京东工业开盘14.10元，股价13.76元，最低12.66元。市值369.81亿港元。 在香港上市标志着京东工业进入新的发展阶段，募集资金将重点用于增强工业供应链能力、跨地域业务拓展、潜在战略投资或收购等领域，持续助力客户 提升供应链效率、降低运营成本。 公开资料显示，自2017年成立伊始，京东工业就一直专注于为工业企业提供专业可信赖的数智供应链技术与服务解决方案，通过"让数据多流动，让商品 少跑动"，帮助客户创造降本、增效、保供、合规的价值。招股书显示，京东工业的持续经营业务总收入由2022年的141亿元、2023年的173亿元增至2024 年的204亿元，复合年增长率达到20.1%；2 ...

陈鄂生视当下为新航海时代，工业企业的供需如何优化匹配， 供应链领域能否冲破数据孤岛，告别协同冲突等痛点，都成为 产业全球化发展的掣肘难题，而这却是京东工业远征的起点。 作者：钱方 封图：图片资料室 泰国首都曼谷往南10公里处的林查班港，是当地最大的集装箱港口，也是东南亚重要的物流枢 纽。陈鄂生与团队扎根于此设立了分公司，不远处还建起了一个1万平方米的大仓。 作为京东集团副总裁、京东工业国际业务的负责人，陈鄂生正在这里推动着一场关于工业供应链的 深刻变革。位于林查班港的办公室内，午后的阳光斜洒在桌上，窗外是这个国家正在加速搏动的工 业脉搏：在货轮来往与集装箱起落的繁忙景象中，不少中资企业在这里新建厂房，在机器的运转声 中，中国制造变为全球制造的故事正在发生。 陈鄂生视当下为新航海时代，工业企业的供需如何优化匹配，供应链领域能否冲破数据孤岛，告别 协同冲突等痛点，都成为产业全球化发展的掣肘难题，而这却是京东工业远征的起点。 作为京东集团旗下专注于工业供应链技术与服务业务的业务板块，京东工业试图为各行业工业企业 提供一套全链路的数智供应链解决方案。"让数据多流动，商品少跑动"是它对客户的服务理念和 目标承诺。采用数 ...

Core Viewpoint - JD Industrial aims to transform the industrial supply chain by providing a comprehensive digital supply chain solution, enhancing efficiency and collaboration for global industrial enterprises [1][5][14] Group 1: Global Supply Chain Strategy - JD Industrial is establishing a global supply chain network, focusing on Southeast Asia, to support Chinese enterprises in their international expansion [3][4] - The company emphasizes the importance of local adaptation and collaboration with local suppliers and logistics partners to enhance service capabilities [4][11] - JD Industrial's strategy includes a "light operation" approach, leveraging existing logistics infrastructure while integrating local supply chains [11][12] Group 2: Digital Transformation and Technology - The company utilizes its proprietary digital supply chain management system, "Tai Pu," to optimize procurement and operational efficiency [12][13] - JD Industrial has developed the Joy Industrial model, which leverages extensive data to improve supply chain processes and reduce costs for clients [12][13] - The "trillion-dollar cost reduction" initiative aims to lower the total cost of China's industrial supply chain through digital transformation [12][13] Group 3: Challenges and Opportunities - Chinese enterprises face significant challenges when expanding overseas, including supply chain visibility and local market adaptation [7][8] - JD Industrial identifies Southeast Asia as a promising market due to its geographical advantages and supportive government policies for industrialization [6][10] - The company acknowledges the complexities of different market regulations and cultural practices, which necessitate a tailored approach to business development [4][6]

Core Viewpoint - Shenzhou Digital Holdings plans to sell up to 28.8273 million shares of its subsidiary, Shenzhou Information, representing approximately 2.9543% of its total share capital, to optimize capital allocation and focus on core AI and supply chain sectors [1] Group 1: Company Strategy - The company aims to become a leader in AI solutions centered around supply chains, emphasizing its strategic direction in the "AI + Supply Chain" sector [2] - Shenzhou Digital is enhancing its high-quality supply chain services while extending its service boundaries to offer comprehensive solutions for AI capability development [2] - The company has adopted a "Data × AI" strategy to create a competitive edge by focusing on high-quality industry data, addressing a significant market pain point [2] Group 2: Product Development - Shenzhou Digital launched the "Yanyun Infinity" platform in collaboration with Peking University, which integrates data processing capabilities for intelligent decision-making [3] - The company has over 20 years of experience in the supply chain sector, particularly in consumer electronics and fast-moving consumer goods, which supports its AI technology applications [3] Group 3: Ecosystem Collaboration - Shenzhou Digital has formed strategic partnerships with 15 companies this year, including leading firms in the embodied intelligence and logistics sectors, to enhance its ecosystem [3] - The company initiated a logistics data open interconnection initiative with Beijing Jiaotong University to broaden its industry data sources [3] Group 4: Financial Implications - The cash inflow from the share sale is expected to accelerate the company's progress towards its goal of becoming a leader in AI solutions centered around supply chains [4] - The company is committed to integrating AI technology into key sectors of the real economy, promoting AI as a core productivity driver [4]

Core Viewpoint - The company proposes a capital restructuring involving share consolidation, an increase in authorized share capital, a change in trading unit size, and a change of company name to enhance its strategic positioning in the supply chain management sector. Group 1: Share Consolidation - The board of directors recommends a share consolidation at a ratio of 10 existing shares with a par value of 0.002 HKD each into 1 consolidated share with a par value of 0.02 HKD [2]. Group 2: Increase in Authorized Share Capital - Following the share consolidation, the company's authorized share capital will increase from 20 million HKD (divided into 1 billion shares with a par value of 0.02 HKD each) to 200 million HKD (divided into 10 billion consolidated shares with a par value of 0.02 HKD each), adding 9 billion consolidated shares [3]. Group 3: Change in Trading Unit Size - It is proposed that, contingent upon the share consolidation, the trading unit size on the Hong Kong Stock Exchange will change from 5,000 existing shares to 10,000 consolidated shares [4]. Group 4: Change of Company Name - The company plans to establish its headquarters in Shenzhen Huqiang Cloud Industrial Park as part of its strategy to enhance supply chain management through technology research and development. The board proposes changing the English name from "China Supply Chain Holdings Limited" to "World Digital Economy Asset Group Limited" and adopting the Chinese name "世界数字经济产业集团有限公司" to replace the current name [5].

天眼查App显示，近日，江苏万洋供应链管理有限公司成立，法定代表人为车剑波，注册资本1000万人 民币，经营范围为一般项目：供应链管理服务；技术服务、技术开发、技术咨询、技术交流、技术转 让、技术推广；润滑油销售；新材料技术研发；专用化学产品销售（不含危险化学品）；石油制品销售 （不含危险化学品）；货物进出口；技术进出口；化工产品生产（不含许可类化工产品）；化工产品销 售（不含许可类化工产品）；普通货物仓储服务（不含危险化学品等需许可审批的项目）；日用化学产 品制造；日用化学产品销售；机械设备租赁；机械设备销售；金属材料制造；金属材料销售；橡胶制品 制造；橡胶制品销售（除依法须经批准的项目外，凭营业执照依法自主开展经营活动）。 ...

几内亚福雷卡里亚省马瑞巴亚港一角（新华社）布局海外关键物流今年以来，受美国加征关税、地缘政治冲突等因素影响，上游原材料价格上涨、物流费用 波动，全球供应链安全受到较大冲击。面对复杂严峻形势，建发、国贸、象屿三家供应链龙头企业以更大力度"走出去"，布局全球市场，通过调整贸易结 构、构建物流网络、提升上游资源获取能力，维护供应链安全、提升供应链韧性。"南美、欧洲、非洲地区大豆、玉米、小麦等农作物资源丰富，我们与当 地农场主、收粮站及头部粮商建立长期合作关系，获取稳定的供应资源。"建发股份有限公司董事长程东方说。打通海外物流节点也是供应链企业的重点。 今年7月，国贸股份采购了50柜乌兹别克斯坦棉纱。途经塔什干的中亚班列，仅用13天时间就跨越6000公里抵达福州，较传统的海铁联运方式缩短近一半物 流时间。这批棉纱直达福建多家染厂，加工印染后，制成各类面料、毛衣销往全球。布局海外仓，组建自主可控运力。"近年来，我们通过参股、合资、合 作等形式布局海外关键物流节点，在境外30多个国家和地区设有约350个海外仓，运营中欧班列建发专列和商舟航空跨境物流项目，搭建国际化学品和集装 箱海运船队，持续完善公司全球物流网络通道，为产 ...

Core Viewpoint - The supply chain industry is experiencing a tension between traditional human-driven processes and the push for technological advancement, with companies like Shimon Holdings exemplifying the current state of the industry rather than its future direction [1][3][18] Group 1: Company Overview - Shimon Holdings operates in a traditional supply chain model, focusing on services such as port container handling, customs clearance, trunk transportation, and warehousing management, which are integrated into a complete chain without a significant technological focus [3][5] - The company has reported zero R&D investment in recent years, highlighting a stark contrast to the industry's trend towards supply chain intelligence [3][5] - Shimon's client concentration is high, with the top five clients accounting for 86%-88% of revenue, indicating a reliance on long-term relationships with major manufacturers [5][12] Group 2: Financial Performance - Shimon Holdings has shown stable revenue growth with a compound annual growth rate (CAGR) of 12.81% and profit CAGR of 22.96% over recent years [12] - The company's gross margin has experienced fluctuations, moving from 19.95% to 24.95% and then back to 22.84%, reflecting the impact of external factors such as client schedules and operational costs [12] - Accounts receivable consistently represent 30%-40% of revenue, indicating the need for ongoing cash flow management within the manufacturing sector [12] Group 3: Industry Context - The supply chain industry is currently divided between companies that rely on traditional execution-driven models and those that are moving towards systematization and digitalization [10][11] - Shimon Holdings represents a snapshot of the past decade in China's manufacturing supply chain, characterized by client concentration, execution-driven operations, and a reliance on human resources [15][18] - The industry is gradually shifting towards automated and intelligent supply chains, with competitors investing in technology to enhance margins and reduce management costs [10][15]