New stock news | JD Industrial submits application to Hong Kong Stock Exchange, becoming the largest service provider in China's industrial supply chain technology and service market.

According to the disclosure by the Hong Kong Stock Exchange on March 30th, JD Industrial Limited (referred to as JD Industrial) has submitted an application for listing to the Hong Kong Stock Exchange, with Bank of America Securities, Goldman Sachs, and Haitong International as joint sponsors. JD Industrial is a leading industrial supply chain technology and service provider in China. The company offers a wide range of industrial product supply and digital supply chain services through its full-chain intelligent industrial supply chain solution called "Taipu", to meet the diverse needs of customers. "Taipu" is built on the company's end-to-end supply chain digital infrastructure, covering commodities, procurement, fulfillment, and operations. According to the prospectus, after years of development, JD Industrial has become the largest participant in China's MRO procurement services market. According to data from Zhaoshi Consulting, based on transaction volume in 2024, the company ranks first, with a scale nearly three times that of the second place. According to the same data, as the company expands into a broader industrial supply chain market, based on transaction volume in 2024, the company is also the largest service provider in China's industrial supply chain technology and services market, with a market share of 4.1%. The continuous growth of the company's scale fully demonstrates the efficiency of its business model. From 2022 to 2024, the company's transaction volume increased from approximately RMB 22.3 billion to RMB 28.8 billion, with a compound annual growth rate of 13.5%. According to data from Zhaoshi Consulting, as of December 31, 2024, based on SKU count, the company provides the widest range of industrial product supply in China. As of December 31, 2024, the company has provided around 57.1 million SKUs covering 77 product categories. In 2024, the company's product supply comes from a wide and nationwide industrial product supply network consisting of approximately 121,700 manufacturers, distributors, and agents. In terms of finances, during the reference period, most of JD Industrial's revenue came from commodity sales revenue, with the rest coming from providing trading platforms, advertising, and technology and other services. In 2022, 2023, and 2024, JD Industrial's total revenue from continuing operations was approximately RMB 14.1 billion, RMB 17.3 billion, and RMB 20.4 billion respectively, with a compound annual growth rate of 20.1%. It is worth noting that in 2022, 2023, and 2024, the company recorded net losses of RMB 1.3 billion, net profit of RMB 4.8 million, and net profit of RMB 760 million respectively.