Core Insights - JD Industrial is approaching its official listing, drawing attention to the vast and complex industrial supply chain sector [1][3] - If successful, JD Industrial will be the sixth company under JD Group to go public, following JD Group, JD Logistics, JD Health, Dada Group, and Debang Logistics [3] - The company aims to provide effective solutions in a trillion-dollar market that has long been plagued by inefficiencies and information asymmetry [4][5] Market Dynamics - The industrial products market in China is characterized by fragmentation, inefficiency, and a high proportion of non-standardized goods [5] - Issues such as "industrial product mislabeling" highlight the discrepancies between actual product specifications and advertised claims [6] Solutions and Innovations - JD Industrial has initiated the "China Industrial Products Non-Mislabeling" campaign to enhance supply chain transparency [7] - The establishment of the "Mercator" standard product database aims to standardize product parameters using AI, facilitating better communication among buyers, suppliers, and platforms [8] - Collaborations with companies like Delixi Electric have resulted in significant improvements in transaction efficiency and customer engagement during events like "Double Eleven" [8] Operational Efficiency - JD Industrial emphasizes the importance of physical infrastructure in achieving digital efficiency, countering the trend of "light asset" models in the industrial supply chain [9] - Partnerships with companies such as XCMG have led to reduced procurement cycles and cost savings through the integration of intelligent warehousing and supplier resources [9][10] Market Access for SMEs - JD Industrial's "One Product, Multiple Channels" strategy provides small and medium-sized enterprises access to broader markets, addressing challenges in domestic sales and export [11] - The success of the "Double Eleven" event indicates a shift in the industrial internet landscape, moving beyond mere information matching to structural reforms within the supply chain [11][12] Conclusion - The combination of quality assurance, digital standardization, and efficient logistics is positioning JD Industrial as a key player in the transformation of the industrial sector [12]

Core Viewpoint - JD Industrial is preparing for its IPO, marking it as the sixth company under JD Group to enter the capital market, highlighting the potential of the industrial supply chain sector which is undergoing digital transformation [5][11]. Group 1: Market Overview - The industrial products market in China is valued at trillions and is characterized by fragmentation, inefficiency, and information asymmetry, which has led to issues such as "industrial product mislabeling" [7][8]. - JD Industrial's recent performance during the "Double Eleven" shopping festival indicates significant growth, with self-operated warehouse transaction volume doubling and user numbers increasing by nearly 50% [5][8]. Group 2: Solutions and Innovations - JD Industrial has initiated the "China Industrial Products No Mislabeling" campaign, focusing on supply chain transparency through source traceability, standardization, and self-discipline [8]. - The establishment of the "Mercator" standard product database aims to standardize product parameters, enhancing trust and efficiency in transactions [8][9]. - Collaborations with companies like Delixi Electric have resulted in substantial improvements, such as a 58% increase in enterprise customer numbers and a 172% rise in average transaction value during "Double Eleven" [8]. Group 3: Logistics and Efficiency - JD Industrial's "self-operated warehousing" model has led to significant improvements in logistics efficiency, with companies like New界 Pump Industry achieving a 30% increase in regional inventory turnover rates [11][12]. - The integration of physical and digital supply chain solutions is essential for traditional manufacturing's digital transformation, as demonstrated by the reduction in procurement cycles and cost savings for partners like XCMG [10][11]. Group 4: Market Opportunities for SMEs - JD Industrial's "one product, multiple channels" strategy provides small and medium-sized enterprises access to broader markets, addressing challenges faced by traditional industrial clusters [13]. - The success of JD Industrial during "Double Eleven" reflects a structural shift in the industrial internet, emphasizing the need for deep supply chain reforms rather than mere information matching [14].

来源|中访网 责编|李晓燕 11月23日，港交所官网披露的信息显示，京东工业股份有限公司顺利通过上市聆讯，历经三次递表折戟后，终于迈入港股上市冲刺阶段。若此次挂牌成 功，京东工业将成为京东集团旗下第六家登陆资本市场的企业，刘强东打造的资本版图再添重要拼图，也为工业供应链数字化赛道注入新的资本活力。 从业绩维度来看，京东工业已实现从亏损到盈利的跨越式增长，营收与利润双指标呈现稳健向上态势。2022至2024年间，公司营收稳步攀升，三年间从百 亿级规模突破至204亿元，规模扩张势头清晰；2025年增长节奏持续加快，上半年营收达103亿元，同比增幅18.9%，截至8月底年内营收已达141亿元，同 比持平上半年增速，全年业绩增长确定性较强。盈利端表现更为亮眼，2022年仍处于13亿元净亏损状态，2023年成功扭亏为盈实现480万元净利润，2024 年净利润大幅跃升至7.6亿元，同比增幅超15倍，2025年上半年延续高增长态势，净利润4.5亿元同比增长55.2%，盈利质量持续优化。不过需要注意的 是，截至2025年10月底，公司流动资产总额139.49亿元，流动负债达137.1亿元，流动负债净额显现，存货占流动资产比例 ...

Core Viewpoint - JD Industrial is preparing for its IPO, highlighting the potential of the industrial supply chain sector, which is undergoing significant digital transformation and addressing long-standing inefficiencies [1] Group 1: Market Overview - The industrial products market in China is characterized by fragmentation, inefficiency, and a high proportion of non-standardized goods, which affects the cost competitiveness of the manufacturing sector [2] - Issues such as product mislabeling and lack of standardization contribute to the inefficiencies in the industrial products market [3] Group 2: Solutions and Initiatives - JD Industrial has launched the "China Industrial Products Non-Fake Labeling" initiative in collaboration with industry associations to enhance supply chain transparency and efficiency [4] - The establishment of the "Mercator" standard product database by JD Industrial aims to standardize product parameters using AI, facilitating better communication among buyers, suppliers, and platforms [5] Group 3: Case Studies and Impact - The partnership between JD Industrial and Delixi Electric resulted in a 58% increase in enterprise customer numbers and a 172% rise in average transaction value during the recent "Double Eleven" shopping festival [5] - JD Industrial's self-operated warehousing model has improved logistics efficiency, enabling next-day or same-day delivery for heavy products, thus increasing inventory turnover rates by 30% for companies like New界 Pump Industry [7][8] Group 4: Opportunities for SMEs - JD Industrial's "One Product, Multiple Channels" strategy provides small and medium-sized enterprises with access to broader markets, addressing their challenges in transitioning to domestic sales and international markets [9][10] - The success of JD Industrial's initiatives during the "Double Eleven" event indicates a structural shift in the industrial internet landscape, emphasizing the importance of supply chain digitalization for industrial transformation [11]

Core Insights - JD.com is not just an e-commerce platform but also offers a comprehensive "Tai Pu" digital and physical integrated supply chain solution based on its super supply chain [1] - The collaboration between JD.com and traditional manufacturing companies is driving digital transformation, leading to significant cost reductions and efficiency improvements [1][5] Group 1: Supply Chain Transformation - JD.com has restructured the non-production procurement process for XCMG, reducing the procurement cycle from 11 days to under 2 days and decreasing costs by over 10% [1][5] - New界 Pump Industry has improved its sales and inventory turnover rate by 30% through collaboration with JD.com, achieving nearly 100% growth in transaction volume during the 11.11 event [2][4] Group 2: Industrial Digitalization - JD.com is leveraging its super supply chain to support the digital transformation of the industrial sector, aiming to create a "data highway" for new industrialization [4][7] - The "Intelligent Empowerment of Thousands of Industries, Trillion Cost Reduction" initiative aims to provide tailored solutions for ten key industries, enhancing supply chain efficiency and compliance [4][6] Group 3: Technological Integration - JD.com has developed the JoyIndustrial supply chain model, addressing high costs and low efficiency in the industrial sector through intelligent decision-making and process optimization [6] - The company emphasizes the importance of integrating technological innovation with industrial innovation to create greater value [5][6] Group 4: Market Expansion and Efficiency - JD.com’s self-operated supply chain and logistics network enhance procurement efficiency and meet diverse customer needs, positioning JD.com as a preferred platform for industrial product procurement [7] - The company is committed to promoting the standardization of industrial products and supporting sustainable development within the industry [6][7]

Core Insights - JD Group and Changan Automobile have signed a strategic cooperation agreement to establish a comprehensive partnership [1] - The collaboration aims to enhance supply chain digitalization, reduce costs, and improve efficiency in the automotive manufacturing sector [1][5] Group 1: Strategic Partnership - The strategic cooperation will focus on supply chain digitalization, overseas supply chain collaboration, and AI capabilities [1] - JD Industrial has previously engaged in deep cooperation with Changan Automobile, utilizing the Tai Pu integrated supply chain solution [1][2] Group 2: Industry Context - Changan Automobile is a large state-owned enterprise with a history of 163 years and 41 years of automotive manufacturing experience [2] - The automotive manufacturing industry is recognized as a complex supply chain, crucial for modern industrial management [2] Group 3: Supply Chain Solutions - JD Industrial launched the "Smart Empowerment for Industries, Trillion Cost Reduction" initiative, introducing ten industry-specific solutions, with the automotive manufacturing solution being the first [3] - The Tai Pu integrated supply chain solution aims to optimize cost and efficiency through real-time response and precise collaboration [3] Group 4: Global Expansion - JD Industrial is expanding its digital supply chain globally, covering countries like Thailand, Vietnam, Hungary, and Brazil, to support Chinese automotive companies in international trade [4] - The company has developed a digital procurement platform that facilitates multi-country transactions, enhancing transparency and efficiency [4] Group 5: Technological Innovation - JD Industrial has created the JoyIndustrial supply chain model, leveraging extensive industrial data to serve over 10,000 key industrial enterprises [4] - The collaboration aims to leverage each party's strengths to create greater value for users and the industry [5]

Core Insights - The event hosted by JD Industrial aimed to promote the digital transformation of the laboratory supplies supply chain, enhancing efficiency and cost-effectiveness for research institutions and enterprises [1][2] - The traditional procurement model in the laboratory supplies industry is facing challenges such as long delivery times, weak emergency response, and fragmented internal processes, necessitating a shift towards a digital supply chain [1][2] - JD Industrial is committed to investing significant resources to improve product quality, expand user base, and build capabilities within the laboratory supplies sector [2][3] Industry Challenges - The laboratory supplies industry is experiencing increased demands for supply chain efficiency due to the overall enhancement of China's research capabilities [1] - Traditional procurement methods are inadequate, leading to issues such as high customer acquisition costs for brand manufacturers and inefficiencies in meeting diverse research needs [2] - The lack of transparency in pricing and compliance risks in procurement processes are significant pain points for enterprises and research institutions [1][2] Company Initiatives - JD Industrial is leveraging its robust digital infrastructure and supply chain technology to create a comprehensive digital supply chain system that connects supply and demand effectively [2] - The company is focused on providing a seamless digital procurement experience, enhancing cost efficiency through strict quality control and supply chain management [3] - JD Industrial aims to facilitate a full-process online procurement system, utilizing historical data to predict material needs and improve delivery agility [3]

Core Insights - JD Group reported a revenue of 356.7 billion RMB (approximately 49.8 billion USD) for Q2 2025, marking a year-on-year growth of 22.4%, exceeding market expectations and setting a record for growth rate in nearly three years [1] - Since its full transition to technology in 2017, JD Group has invested over 150 billion RMB in R&D and has built supply chain infrastructure assets worth nearly 170 billion RMB, providing extensive scenarios for technology application [1] Group 1: Industrial Supply Chain Initiatives - JD Industrial has launched the first industrial model centered on supply chains, named Joy Industrial, aimed at enhancing digital supply chain service capabilities [1][3] - The "Trillion Cost Reduction" initiative has been implemented in multiple cities, promoting the digital transformation of the manufacturing supply chain and aiming to release a profit space of over one trillion RMB for the industrial sector [2] - The initiative has already been rolled out in cities including Shanghai, Shenzhen, and Guangzhou, providing comprehensive professional services to local industrial enterprises [2] Group 2: Technological Advancements - Joy Industrial integrates years of experience and data accumulation in the industrial digital supply chain field, creating a full-stack product matrix that includes algorithms, data, and applications [3][4] - The model aims to drive intelligent transformation in supply chains, enhancing cost reduction, efficiency, compliance, and supply assurance [3] Group 3: Self-operated Supply Chain Development - JD Industrial is focusing on building a self-operated supply chain system, collaborating with over a hundred leading industrial brands to enhance supply chain efficiency [5] - The company aims to provide a comprehensive range of services, including product, technical, consulting, and operational services, to support large enterprises, SMEs, and individual consumers [6] - JD Industrial emphasizes the creation of value through technology and innovation, aiming to contribute positively to the industrial sector and society [6]