We are pleased to announce that JD Logistics, Inc. (“JD Logistics” or the “Company”, 2618.HK), a VMS invested company, has successfully completed its listing on the Hong Kong Stock Exchange on May 28, 2021. The IPO was highly sought after with the retail tranche being oversubscribed by more than 700 times. The proceeds from the IPO will be used for logistics networks expansion, advanced technologies development and sales & marketing. Its share price opened at HK$46.05, up 14.1% from its IPO price of HK$40.36 per share.

JD Logistics is a subsidiary of JD.com, a leading integrated supply chain logistics services provider in China. It offers a full spectrum of supply chain solutions and high-quality logistics services enabled by technology, ranging from warehousing to distribution, spanning across manufacturing to end-customers, and covering regular and specialized items. In 2020, the Company served more than 190,000 corporate customers across a wide array of industries, such as fast moving consumer goods (FMCG), apparel, home appliances, furniture, 3C, automobiles and fresh produce whereas the number of integrated supply chain customers reached 52,700. The Company expects robust revenue growth driven by its third party logistics business.

Vanessa Lee, Managing Director & Head of TMT and Consumer of VMS Group’s Private Equity Division, commented that “We congratulate JD Logistics on its successful listing. The overwhelming market response reflects the fundamental attractiveness of the business and investors’ confidence in its future prospect. With its cutting-edge technology platform and strong management team, we believe that JD Logistics is well-positioned to ride on China’s transition towards a consumer-driven economy for sustainable growth”.

VMS participated in JD Logistics’ series A funding round in April 2018. VMS focuses on generating strong returns for investors by investing in market-leading, high-growth companies.

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