Prospectus of Jingdong Hong Kong shares: Tencent is the largest shareholder Liu qiangdong with 78.4percent voting rights

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 Prospectus of Jingdong Hong Kong shares: Tencent is the largest shareholder Liu qiangdong with 78.4percent voting rights


The listing in Hong Kong has been more than that in the United States for six years. In the past six years, the market value of the company is 3.1 times that of the IPO of the year, the number of active users is 8.2 times that of the year, the net income is 8.3 times that of the year, the net profit under non GAAP is 48 times that of the year, and the free cash flow is 8.5 times that of the year.

Here is the prospectus data:

1. Revenue: in 2017, 2018 and 2019, Jingdongs net revenue respectively reached rmb362.3 billion, rmb462 billion and rmb576.9 billion (equivalent to $82.9 billion). Revenue in the first quarter of 2020 was 146.2 billion yuan ($20.6 billion).

2. Operating profit: in 2017 and 2018, the net operating loss of continuing business was RMB 19 million and RMB 2.801 billion respectively, while in 2019, the net operating profit of continuing business reached RMB 11.89 billion (equivalent to USD 1.708 billion). Operating profit in the first quarter of 2020 is 2.3 billion yuan (US $300 million)

3. Net profit: the net profit attributable to common shareholders in the first quarter of 2020 is RMB 1.1 billion (US $200 million)

4. Active users: in 2017, 2018 and 2019, our number of active users reached 292.5 million, 305.3 million and 362 million. The number of active users for the year ended March 31, 2020 was 387.4 million.

5. Merchants: as of December 31, 2019, Jingdong purchased goods from more than 24000 suppliers. As of December 31, 2019, JDs online e-commerce platform has more than 270000 third-party businesses,

6. Logistics: as of December 31, 2019, Jingdong Logistics Infrastructure layout covers almost all districts and counties in China, including more than 700 warehouses covering 89 cities with a total construction area of about 16.9 million square meters, including the warehouse area managed by Jingdong Logistics Technology open platform. As of March 31, 2020, JD logistics operates more than 730 warehouses, with a total construction area of about 17 million square meters.

7. Employees: as of March 31, 2020, JD has about 220000 employees (excluding part-time employees and interns).

In addition, as of December 31, 2019, JD has a team of more than 132200 distribution personnel and more than 43700 warehousing employees, with a total of 175954 warehousing and distribution personnel.

8. Shares held by Liu qiangdong: Liu qiangdong holds and controls 14000000 class a common shares and 421507423 class B common shares in the form of American Depository shares through maxsmartlimited, which is also the only director of the company beneficially owned by the trust. In addition, as of the last practical date, fortune rising Holdings Limited, whose sole shareholder and sole director is Liu qiangdong, holds 29373658 class B common shares in order to transfer the relevant shares to the participants of the plan in accordance with the awards under the equity incentive plan, and manage the awards and actions in accordance with the instructions of JD. As of the last practical date, Liu qiangdong controls 78.4% of JDs total voting rights, including 5.1% of the companys total voting rights that can be exercised on behalf of fortune rising Holdings Limited.

Note: according to different voting right structures, JDs share capital includes class a common shares and class B common shares. For any resolution submitted to the general meeting of shareholders of JD, the holders of class a common shares may vote 1 per share, and the holders of class B common shares may vote 20 per share.

9. Liu qiangdongs equity incentive: in May 2015, the board of directors approved Liu qiangdongs 10-year salary plan. According to the plan, Liu qiangdong will receive cash income of RMB 1.00 and zero cash dividend every year within 10 years. Meanwhile, Liu qiangdong was granted stock options to purchase 26000 shares at the exercise price of USD 16.70 per share or USD 33.40 per ads, 000 shares of the companys class a common stock subject to a 10-year vesting period of 10% of the award on each anniversary of the grant date. During the ten-year period, Jingdong will not grant Liu qiangdong additional equity incentive. In 2017, 2018 and 2019, JD generated equity incentive fees of RMB 227 million, RMB 167 million and RMB 134 million (USD 19 million) respectively due to the granting of stock options to Liu qiangdong. 10. Investment data: Jingdong invested in financial products and recorded the fair value of financial products of RMB 8.6 billion, RMB 1.9 billion and RMB 23.2 billion on December 31, 2017, 2018 and 2019, respectively. On December 31, 2017, 2018 and 2019, the total unrealized income of financial products was RMB 23.8 million, RMB 0.6 million and RMB 54.8 million, respectively. Read more about Musks Twitter bombardment of Bezos: spin off Amazon! Many organizations are deeply involved in LETV. Sun Hongbin has already cut the flesh for 0 yuan and ran to the top of Google to adjust: search and advertising teams are all managed by this Indian. Source: Wang Fengzhi, editor in charge of Netease Technology Report_ NT2541

9. Liu qiangdongs equity incentive: in May 2015, the board of directors approved Liu qiangdongs 10-year salary plan. According to the plan, Liu qiangdong will receive cash income of RMB 1.00 and zero cash dividend every year within 10 years. Meanwhile, Liu qiangdong was granted stock options to purchase 26000 shares at the exercise price of USD 16.70 per share or USD 33.40 per ads, 000 shares of the companys class a common stock subject to a 10-year vesting period of 10% of the award on each anniversary of the grant date. During the ten-year period, Jingdong will not grant Liu qiangdong additional equity incentive. In 2017, 2018 and 2019, JD generated equity incentive fees of RMB 227 million, RMB 167 million and RMB 134 million (USD 19 million) respectively due to the granting of stock options to Liu qiangdong.

10. Investment data: Jingdong invested in financial products and recorded the fair value of financial products of RMB 8.6 billion, RMB 1.9 billion and RMB 23.2 billion on December 31, 2017, 2018 and 2019, respectively. On December 31, 2017, 2018 and 2019, the total unrealized income of financial products was RMB 23.8 million, RMB 0.6 million and RMB 54.8 million, respectively.