Daily Tech Roundup: JD.com Logistics Arm Fesses Up to Fraud

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E-commerce giant JD.com’s logistics unit Dada confirmed that it had inflated its revenues and costs. Photo: VCG

Welcome to the Daily Tech Roundup — a briefing of the top technology news making headlines in China and the rest of Asia.

JD.com logistics arm discloses fraud, president resigns

After a three-month investigation, Chinese e-commerce giant JD.com’s logistics unit Dada Nexus Ltd. confirmed that the company had inflated its revenues and costs to hit the company’s targets. Dada also announced that President He Huijian has resigned. Fraudulent transactions resulted in revenue being overstated by about 568 million yuan ($79 million) from the fourth quarter of 2022 to the third quarter of 2023, the investigation found. The review came after suspicious practices were discovered during an internal audit.