JD Logistics shares surge as much as 18% in its Hong Kong debut

cnbc2021-05-28

BEIJING — Shares of JD Logistics, the logistics arm of Chinese e-commerce giantJD.com, soared on Friday as the company debuted on the Hong Kong Stock Exchange. Shares surged more than 18% at one point...

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Comments

Kaka85
2021-05-28
Kaka85
Nice debut
YPT
2021-05-28
YPT
[比心]
- WilsonTan112:
  Reply!
- jaswsf:
  [OK] [OK]
WindyMoon
2021-05-28
WindyMoon
[Sick]
- WindyMoon:
  Logistics is Important
TammyYap
2021-05-28
TammyYap
Like and comment
barracuda
2021-05-28
barracuda
Not bad
- hww1:
  !

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The stock later pared its gains, but was still 10.75% higher than its issue price by Friday afternoon.\nJD Logistics priced its IPO at 40.36 Hong Kong dollars per share, the lower end of the expected range. The company raised $3.2 billion in its initial public offering.\nThe unit’s vast network of warehouses and delivery workers in China have given JD a competitive edge against its rivalAlibaba, as the Beijing-based company can deliver products to millions of customers within the same day, or the next.\nLogistics is “very important,” as JD competes with rivals on service quality, EY Asia-Pacific IPO leader Ringo Choi told CNBC’s “Squawk Box Asia” on Friday. 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JD announced in March it wasinvesting $800 million in Dada, for an ultimate majority stake of 51%.\nEarlier this year,JD withdrew an application for listing its fintech arm on the Shanghai Star board.\nOutlook for JD Logistics\nJD Logistics earned 73.4 billion yuan ($11.4 billion)in revenue in 2020. But itexpects to “record a significant adjusted loss” in 2021.The company disclosed net losses of 4 billion yuan in 2020, greater than the 2.2 billion yuan in 2019.\nWhileJD Logistics has boosted warehouse efficiency with robots and automation, the final delivery leg depends heavily onmore than 200,000 human couriers. As a result, the company said labor costs have accounted for more than 40% of total operating expenses and revenue costs for the last three years.\n“Any failure to retain stable and dedicated labor by us may lead to disruptions to or delays in our services,” the company warned, noting overall tightening in the labor market and rising wages.\nAnother risk is heavy reliance on the state of the parent company JD.\nJD Logistics has been trying to sell its delivery services to third parties. 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is Important","text":"Logistics is Important","html":"Logistics is Important"}],"langContent":"EN"},{"id":135729543,"gmtCreate":1622186148182,"gmtModify":1704181096216,"author":{"id":"3584603154935447","authorId":"3584603154935447","authorIdStr":"3584603154935447","name":"TammyYap","avatar":"https://static.tigerbbs.com/60f1cf053649acc54659546866fc8a33","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3584603154935447"},"htmlText":"Like and comment","listText":"Like and comment","text":"Like and 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