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Chinese ecommerce platform JD.com aims to establish three new businesses with over 1 trillion yuan (US$139.9 billion) in revenue and 70 billion yuan (US$9.8 billion) in net profits as part of its “ambitious goals” for the next two decades.
The company also plans to have five JD enterprises rank on the Fortune Global 500, where JD.com currently ranks 46th. In addition, it aims to have seven publicly listed companies with a total market value of US$14 billion.
Some of its listed firms include JD Health, JD Logistics, and Dada Group. It is eyeing Hong Kong listings for JD Property and JD Industrials.
JD.com is also looking to build a global supply chain infrastructure that accounts for 80% of the world’s economic volume.
These goals all fall under the company’s “35711 Vision,” which was announced as part of its 20th anniversary celebrations.
The group recorded US$149.3 billion in revenue for its 2023 financial year, a 4.39% decline from the previous period.
It was announced in JD.com’s Q1 earnings report that Lei Xu will step down from his role as CEO, with former CFO Sandy Ran Xu taking over.
See also: 5 key takeaways from Lalamove’s draft prospectus to list in HK
Currency converted from Chinese yuan to US dollar: US$1 = 7.15 yuan.
Editing by Lorenzo Kyle Subido
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