Core Viewpoint - JD Industrial is set to issue up to 253 million overseas listed ordinary shares and plans to list on the Hong Kong Stock Exchange, marking the sixth company under JD Group to go public [1] Group 1: Company Overview - JD Industrial is a light-asset company under JD Group, primarily providing technical services to B-end clients in the industrial sector [1] - Since 2017, JD Industrial has focused on MRO procurement services and has become the largest participant in China's MRO procurement service market, holding a market share of 4.1% as of 2024 [1][2] Group 2: Financial Performance - JD Industrial's revenue increased from 14.135 billion to 20.398 billion yuan from 2022 to 2024 [3] Group 3: IPO Details - The funds raised from the IPO will enhance the company's industrial supply chain capabilities, expand regional operations, and support potential strategic investments or acquisitions [2] - JD Industrial has previously submitted IPO applications to the Hong Kong Stock Exchange in March 2023 and September 2024, both of which were invalidated before successfully submitting a third application on March 30, 2024 [1][2] Group 4: Market Context - The company aims to improve industrial collaboration efficiency and assist enterprises in cost reduction and digital transformation amid global market demand slowdown and fluctuating trade policies [2]