JD Industrial Placement Results Announced: MRO Leader Takes the Lead, Full-Chain Digital Intelligent Solutions Unleash Long-Term Value
JD Industrial's Placement Results Announced: MRO Leader Demonstrates Strength with Full-Chain Digital Intelligence Solutions Unleashing Long-Term Value
On December 10, JD Industrial Co., Ltd. ("JD Industrial" or the "Company", Stock Code:$JD INDUSTRIALS(7618.HK)) officially announced the allocation results of its global offering. The final offer price was set at HK$14.10 per share. The Hong Kong public offering received an enthusiastic response, achieving 60.52 times oversubscription with over 70,000 valid applications received. The final number of shares offered was 21,121,000, representing approximately 10% of the total shares in the global offering. The international placement also performed remarkably well, with an oversubscription multiple of approximately 7.88 times. The market feedback of dual oversubscription fully demonstrates global investors' high recognition of JD Industrial's business model and growth potential.
Full-Chain Solutions Cement Leading Position; End-to-End Digital Intelligence Infrastructure Empowers a Vast Customer Base
As a leading industrial supply chain technology and service provider in China, JD Industrial has built its core competitiveness around the "Taipu" full-chain digital intelligence solution, establishing a deeply integrated service system of "digital" (digital intelligence) and "physical" (goods) to provide enterprise customers with extensive industrial product supply and digital intelligence supply chain services. Through this system, the Company can effectively meet customers' multi-dimensional needs in supply assurance, cost reduction, efficiency improvement, and compliance, driving digital transformation in the industrial supply chain sector.
With its profound industry expertise, JD Industrial has established a market-leading position, becoming the largest player in China's MRO procurement services market. According to CIC data, based on transaction volume in 2024, the Company is not only the leader in China's MRO procurement services market, with a scale nearly three times that of the second-largest player, but also the largest service provider in China's industrial supply chain technology and services market, with a market share of 4.1%, highlighting its benchmark status in the industry.
Behind this position lies JD Industrial's end-to-end digital intelligence infrastructure. Leveraging practical experience serving tens of millions of enterprise customers, the Company's "Taipu" solution integrates "digital" (digital intelligence) with "physical" (goods), deeply empowering customers with digital intelligence capabilities to lead the digital transformation of corporate procurement supply chains. Its core value lies in implementing the philosophy of "letting data travel more and goods travel less," making supply-demand matching smoother, more precise, and collaborative, fundamentally enhancing the overall resilience and agility of the industrial supply chain.
The legacy of over 20 years of JD Group's supply chain management experience has endowed JD Industrial with deep professional knowledge reserves. Building on this foundation, the Company continuously iterates its supply chain expertise, achieving breakthroughs in products, customers, vertical industries, and suppliers, forming a strong comprehensive competitiveness.
According to CIC data, as of December 31, 2024, the Company's SKU count ranked first in China's industrial supply chain technology and services market; by June 30, 2025, the SKU count had increased to approximately 81.1 million, serving around 11,100 key enterprise customers in the twelve months prior to June 30, 2025. High customer stickiness further validates the value of its services, with a key enterprise customer transaction retention rate of 105.7% in 2024, fully reflecting customers' high trust and continuous recognition of its services.
Rapid Growth in Revenue and Profitability; Digital Wave Fuels Expansion Opportunities
Benefiting from the wave of industry digital transformation and the continuous release of its core capabilities, JD Industrial has achieved steady growth in recent years. The Company's total revenue from continuing operations grew from RMB14.1 billion in 2022 to RMB17.3 billion in 2023, and further climbed to RMB20.4 billion in 2024, with a compound annual growth rate of 20.1%. On a half-year basis, for the six months ended June 30, 2025, the Company's total revenue from continuing operations reached RMB10.3 billion, showing significant growth compared to the same period last year.
Meanwhile, the Company's profitability has also improved rapidly. In 2022, the Company recorded adjusted net profit of RMB710 million, which surged to RMB910 million in 2024. In the first half of 2025, the Company continued its high-growth momentum, with adjusted net profit reaching RMB500 million, maintaining rapid growth compared to the same period last year, demonstrating strong profit resilience and growth sustainability.
Regarding the use of proceeds, JD Industrial has clearly disclosed in its prospectus: approximately 35% of the net proceeds are planned to be used within the next 48 to 60 months to further enhance the Company's industrial supply chain capabilities; approximately 25% of the net proceeds will be allocated to cross-regional business expansion; approximately 30% of the net proceeds are reserved for potential strategic investments or acquisitions; and the remaining approximately 10% of the net proceeds will be used for general corporate purposes and working capital supplementation, ensuring the smooth operation of the overall business. This series of clear and detailed capital plans not only anchors the direction of continuous business upgrading and steady expansion but also highlights the Company's strong development vitality and healthy operational momentum.
From an industry perspective, the digital penetration rate of China's industrial supply chain market remains relatively low, with significant room for improvement. According to CIC data, the digital penetration rate of China's industrial supply chain market was only 6.2% in 2024 and is expected to reach 8.2% by 2029. The increase in digital penetration is expected to drive rapid growth in the industrial supply chain technology and services market, expanding from RMB0.7 trillion in 2024 to RMB1.1 trillion in 2029, with a compound annual growth rate of 9.8%. This vast market space provides JD Industrial with ample growth momentum.
As a pioneer in the digital intelligence transformation of industrial supply chains, JD Industrial possesses not only the core advantages of technology empowerment but also the market-leading scale effects, along with the era opportunities of industry growth. With its unique business model, full-chain service capabilities, and continuous innovation strength, the Company, after its Hong Kong listing, will continue to expand its service boundaries and depth, with enormous long-term growth potential, promising to create long-term and stable value returns for investors while achieving its own sustained growth.
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