Hexyhex
2023-04-01

So now to know about what happened.On March 30th, $JD.com(JD)$ announced the split of JD Industrial and JD Property Development, both of which submitted prospectuses to the Hong Kong Stock Exchange for listing. After the split, JD Group will continue to indirectly hold more than 50% equity in both companies, making them still subsidiaries of JD Group.

JD Property Development is a part of JD's infrastructure and began operating independently in 2007 when JD Group first launched its self-built logistics system strategy. Through investment development, asset management, and diversified value-added services, it provides comprehensive solutions for modern standard warehouses, integrated intelligent industrial parks, data centers, photovoltaic new energy and other infrastructure construction and operation for the entire industry.

The warehouses of $JD LOGISTICS(02618)$ Logistics are owned by JD Property Development. As of December 31st 2022，JD Property Development's modern infrastructure covers 29 provincial-level administrative regions in China as well as four countries overseas with total assets under management amounting to RMB93.7

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