On the evening of January 13, Deppon Logistics Co., Ltd. (603056) announced its intention to voluntarily delist, making it the first company in 2026 to propose such an action.
In the announcement, Deppon Logistics stated that, to better align with logistics industry trends and more efficiently coordinate and integrate logistics resources within the JD Logistics, Inc. system, and also to actively fulfill the commitment regarding competition in the same business made by its indirect controlling shareholder, JD Zhuo Feng, during the acquisition of Deppon, the board of directors has approved a proposal from JD Zhuo Feng. The company decided, via a shareholders' resolution, to voluntarily withdraw the listing of its A-shares on the Shanghai Stock Exchange and, after obtaining the exchange's delisting approval, apply to continue trading on the delisting sector of the National Equities Exchange and Quotations. The cash option exercise price is set at 19.00 yuan per share.
On January 9, Deppon Logistics announced that its indirect controlling shareholder, Suqian Jingdong Zhuofeng Enterprise Management Co., Ltd., was planning a significant matter related to the company. While details were not provided in that announcement, on December 24, 2025, the company explained during an investor exchange on an interactive platform that its actual controlling shareholder, JD Logistics, had clearly committed to gradually resolving the issue of competition in the same business. The difference in profitability between Deppon and JD is influenced by various factors including the macroeconomic environment, market positioning, business scale, and operational strategies. The company stated it would improve performance through more refined cost control and business structure optimization.
"From the perspective of protecting investors, listed companies planning significant matters should enhance information disclosure, explaining the impact of the proposed actions on their main business and the synergistic effects, thereby safeguarding investors' right to know. Furthermore, it is essential to strengthen investor education and guide the market towards establishing a philosophy of long-term and value investing," said Wang Zhibin, a lawyer at Shanghai Minglun Law Firm.
It is noteworthy that in the years prior to 2025, Deppon Logistics, which specializes in large-item delivery, demonstrated a trend of relatively stable and growing performance. However, for the first three quarters of 2025, Deppon Logistics reported an approximate net loss attributable to shareholders of 270 million yuan, shifting from profit to loss compared to the same period last year. In contrast, peers such as S.F. Holding Co., Ltd., Yunda Holdings Co., Ltd., and YTO Express Group Co., Ltd. maintained profitability during the same period.
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