JD Industrials spins off, begins trading on HKEX

Jingdong Industrials, Inc. (JD Industrials) has successfully spun off and commenced trading on the Main Board of the Hong Kong Stock Exchange as of December 11, 2025. Dealings in JD Industrials shares began at 9:00 a.m. on the same day.

The listing follows a global offering, with JD Industrials shares trading in board lots of 200 shares. JD.com, Inc. indirectly retains approximately 72.34% of the total issued share capital of JD Industrials, assuming the over-allotment option is not exercised and excluding shares from share incentive plans.

This strategic move, initially announced on March 30, 2023, marks a significant development for JD.com, Inc., enhancing its operational focus and creating distinct market opportunities for JD Industrials.