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CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.’s Logistics Unit Weighs $10 Billion IPO, Reuters Reports

By Denise Jia / Dec 24, 2019 04:37 AM / Business & Tech



The logistics unit of Chinese e-commerce giant Inc. has had early discussions with banks about a potential overseas initial public offering (IPO) that could raise $8 billion to $10 billion, Reuters reported Monday, citing people with direct knowledge of the matter.

The listing, either in Hong Kong or New York, will value JD Logistics at $30 billion or more, although a timetable and venue have not been finalized and the numbers are subject to changes, according to the people.

The IPO could take place in the second half of 2020, the report said., the second-largest Chinese e-commerce company after Alibaba,

spun off its logistics unit into a standalone company in 2017. JD Logistics started taking delivery orders from external clients in late 2016, but orders from’s retail arm, JD Mall, still make up most of its business. The unit recently signed an agreement with third-party delivery platform Kuaidi 100, a move seen as a challenge to Alibaba’s digitized delivery network, Cainiao.

In April, Inc. founder and Chairman Richard Liu said in an internal email hat JD Logistics last year racked up losses of more than 2.3 billion yuan ($343 million), which would rise to a loss of 2.8 billion yuan if orders from other parts of’s business were excluded.

In February 2018, JD Logistics raised $2.5 billion in the sector’s biggest ever fundraising in China, giving it a valuation of 100 billion yuan. holds 81.4% of the logistics unit.

Contact reporter Denise Jia (

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