Tech Brief (Dec. 4): JD.com ’s Supply Chain Tech Unit Launches Hong Kong IPO
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JD.com’s supply-chain tech unit kicks off Hong Kong IPO
Jingdong Industrials Inc. launched its Hong Kong initial public offering (IPO) on Dec. 3, aiming to raise up to HK$3.27 billion ($420 million). The industrial supply chain technology subsidiary of JD.com Inc. is offering 211 million shares priced between HK$12.70 and HK$15.50 each. Trading is scheduled to commence on the main board of the Hong Kong Stock Exchange on Dec. 11. Following the listing, the JD.com ecosystem will have five listed entities, including JD Health International Inc., JD Logistics Inc. and Deppon Logistics Co. Ltd.
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- JD.com’s supply-chain tech subsidiary launched a Hong Kong IPO on Dec. 3 to raise up to HK$3.27 billion ($420 million), listing on Dec. 11.
- Moore Threads will list on the Shanghai STAR Market on Dec. 5, targeting about 8 billion yuan ($1.1 billion) in proceeds.
- Mercado Libre’s Chinese seller base grew by triple digits in two years; Li Auto unveiled AI glasses; LandSpace’s rocket launch succeeded but landing failed.
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Who’s Who
- Jingdong Industrials Inc.
- Jingdong Industrials Inc. is JD.com's industrial supply chain technology subsidiary. It launched an IPO in Hong Kong on December 3rd, aiming to raise up to $420 million by offering 211 million shares. Trading is set to begin on December 11th, and its listing will bring the number of listed entities in the JD.com ecosystem to five.
- JD.com Inc.
- JD.com Inc. is a Chinese e-commerce company. Its industrial supply chain technology subsidiary, Jingdong Industrials Inc., launched its Hong Kong IPO on December 3rd, aiming to raise up to $420 million. Following this listing, JD.com will have five listed entities in its ecosystem.
- JD Health International Inc.
- JD Health International Inc. is identified as one of the five listed entities within the JD.com ecosystem. The company is already publicly traded, alongside other subsidiaries like JD Logistics Inc. and Deppon Logistics Co. Ltd., following the completion of Jingdong Industrials Inc.'s IPO.
- JD Logistics Inc.
- JD Logistics Inc. is identified as one of the five listed entities within the JD.com ecosystem. It is mentioned in the context of Jingdong Industrials Inc. launching its Hong Kong initial public offering.
- Deppon Logistics Co. Ltd.
- Deppon Logistics Co. Ltd. is mentioned as one of the five listed entities within the JD.com ecosystem. Its inclusion highlights the diverse portfolio of companies associated with JD.com, which also includes JD Health International Inc. and JD Logistics Inc.
- Moore Threads Intelligent Technology Beijing Co. Ltd.
- Moore Threads Intelligent Technology Beijing Co. Ltd., a GPU chipmaker, is scheduled to list on the Shanghai STAR Market on December 5. The issue price for its shares is set at 114.28 yuan, with the company aiming to raise approximately 8 billion yuan ($1.1 billion) from the listing.
- Mercado Libre Inc.
- Mercado Libre Inc., Latin America's largest e-commerce platform, has seen a triple-digit increase in Chinese sellers over the past two years. This growth is attributed to the company's recruitment efforts since 2025, taking advantage of U.S. tariff policy changes that encourage Chinese cross-border sellers to explore Latin American markets.
- Li Auto Inc.
- Li Auto Inc. unveiled its first AI glasses, Livis, on December 3rd. Priced at 1,999 yuan and weighing 36 grams, these glasses boast a nearly 19-hour battery life. CEO Li Xiang stated the project, which began earlier in 2024, aims to integrate the "Li Xiang Tong Xue" voice assistant into users' daily lives, extending its use beyond their vehicles.
- LandSpace Technology Co. Ltd.
- On December 3, LandSpace Technology Co. Ltd. successfully launched its reusable Zhuque-3 rocket into orbit. However, its attempt to recover the first stage failed when it crashed during the vertical landing. The launch aimed to verify recovery technologies for their methane-liquid-oxygen carrier rocket.
- Volcano Engine
- Volcano Engine, ByteDance's cloud unit, recently unveiled its Doubao-Seedream-4.5 image generation model for public testing. This upgrade enhances multi-image composition consistency and improves poster layout and logo design capabilities. It targets applications in advertising, e-commerce, film protection, and digital entertainment.
- ByteDance Ltd.
- ByteDance Ltd.'s cloud unit, Volcano Engine, launched a new image generation model, Doubao-Seedream-4.5, for public testing on December 3. This updated model improves multi-image composition and poster design capabilities. It is intended for use in advertising, e-commerce, film, and digital entertainment.
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