On 30th March 2023, JD.com announced a spin-off of property and industrial units from the core business in order to list these on the Hong Kong Stock Exchange. In the listing documents filed on 30th March, JD Industrials recorded US$2.05 billion in annual revenue and JD Property US$335.6 million. The e-commerce giant will retain a majority stake in both entities.
Having announced a separation of Chinese and international businesses last year, in late March, Alibaba Group unveiled plans to...