JD Logistics Acquisition: Procurement Caps Revised

JD Logistics, Inc. announced revisions to its Supply Chain Solutions and Logistics Services Framework Agreement and its Procurement Framework Agreement with JD.com. Effective October 8, 2025, the company entered into supplemental agreements to update pricing policies and increase annual caps. The original annual caps for supply chain solutions for the years ending December 31, 2025, and 2026, were RMB72,289 million and RMB86,723 million, respectively, and have been revised to RMB110,000 million and RMB210,000 million.

These revisions are driven by increasing demand for integrated supply chain solutions, the expected growth in JD Group's future business needs, and the acquisition of local on-demand delivery businesses. The revised pricing policies for supply chain services will now be determined by both parties, referencing fees charged to independent third-party customers, prevailing market rates, or a reasonable mark-up over costs.

For the Procurement Framework Agreement, the original annual caps for the years ending December 31, 2025, and 2026, were RMB502 million and RMB753 million, respectively, and have been revised to RMB1,000 million and RMB2,000 million. This increase reflects expected growth in the procurement of equipment, products, and services from JD Group, leveraging their supply chain capabilities. These continuing connected transactions are subject to reporting, announcement, and annual review requirements under Chapter 14A of the Listing Rules.