End-to-end services + high-performance growth demonstrates strength JD Industrial's listing on the Hong Kong Stock Exchange releases long-term value
End-to-end services + High-performance growth demonstrates strength JD Industrial's listing on the Hong Kong Stock Exchange releases long-term value
Driven by multiple factors such as industrial upgrading, accelerated digital and intelligent transformation, and policy support, industrial supply chain technology is entering a period of explosive development. As a recognized leader in the industry, JD Industrial (7618.HK), with its profound technological accumulation and end-to-end service capabilities, successfully listed on the Hong Kong Stock Exchange on December 11, injecting a high-quality target into the industrial supply chain sector and embarking on a new journey of development.
Digital and Intelligent-Driven Barrier Strengthening End-to-End Capabilities Build Core Competitive Advantages
As China's leading industrial supply chain technology and service provider, JD Industrial focuses on digital and intelligent transformation as its core driver, committed to providing customers with full-scenario solutions for supply assurance, cost reduction, efficiency improvement, and compliance. The company has built an end-to-end digital and intelligent supply chain infrastructure and, through its extensive product supply, excellent services, and efficient operations, accurately addresses common pain points in the industrial supply chain sector, establishing a strong core competitiveness.
The "Taipu" solution, developed based on this core infrastructure, is a benchmark achievement of JD Industrial's digital and intelligent industrial supply chain that combines "digital" (digital intelligence) and "physical" (products). At the same time, the company has adopted a light-asset model to build efficient and scalable operations and provides comprehensive industrial product supply, technology, and services across scenarios and categories to customers of all industries and sizes through "Taipu," truly achieving "full coverage of large and small customers and full satisfaction of all scenario needs."
The unique value creation model has enabled JD Industrial to accumulate a broad and high-quality customer base. According to data from CIC, in the twelve months ended June 30, 2025, the company served approximately 11,100 key enterprise customers. In the first half of 2025, the company's key enterprise customers included approximately 60% of China's Fortune 500 companies and over 40% of global Fortune 500 companies in China, fully demonstrating the market's high recognition of its service capabilities.
The breadth and depth of product supply capabilities are another core competitiveness of JD Industrial. According to data from CIC, as of the end of 2024, the company provides the most extensive industrial product supply in China by SKU count. Specifically, as of June 30, 2025, JD Industrial offered approximately 81.1 million industrial product SKUs, comprehensively covering 80 core product categories. In the twelve months ended June 30, 2025, the company's product supply came from an extensive nationwide industrial product supply network composed of approximately 158,000 manufacturers, distributors, and agents, demonstrating strong comprehensive capabilities.
Strong Performance Growth Listing Funds Anchor Long-Term Development
The high-quality customer structure and efficient operational model have driven JD Industrial's sustained high growth in performance. From 2022 to 2024, the company's total revenue from continuing operations grew steadily from RMB 14.1 billion to RMB 20.4 billion, with a compound annual growth rate of 20.1%; profitability improved simultaneously, with adjusted net profit rising significantly from RMB 710 million in 2022 to RMB 910 million in 2024. In the first half of 2025, the company continued its high-growth trend, with total revenue from continuing operations reaching RMB 10.3 billion and adjusted net profit at RMB 500 million, highlighting its growth resilience.
Regarding the use of proceeds from the listing, JD Industrial has formulated a clear plan: approximately 35% will be used to strengthen core supply chain capabilities over the next 48 to 60 months, further solidifying technology and service barriers; approximately 25% will be invested in cross-regional business expansion to extend market coverage; approximately 30% is reserved for potential strategic investments or acquisitions to accelerate ecosystem integration; and the remaining approximately 10% will be used to supplement working capital and general corporate purposes. This "strengthen the core, expand boundaries, build the ecosystem" funding plan provides a solid foundation for the company's long-term healthy development.
Overall, JD Industrial, with its advantages in digital and intelligent technology, end-to-end service capabilities, broad customer base, and sustained growth potential, has secured a significant first-mover advantage in the wave of industrial supply chain upgrading. This successful listing on the Hong Kong Stock Exchange is not only an important milestone in the company's development but will also inject strong momentum for its future growth. As a leader in the digital and intelligent transformation of the industrial supply chain, the company's long-term investment value has become evident, and it is expected to continue releasing growth vitality in the process of industrial upgrading.
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