SUBSCRIBE: Free email newsletter



Article spins off its finance arm agreed to sell its finance arm for 14.3 billion yuan (US$2.1 billion) in cash while retaining a share of its future profits, part of a deal to spin off the fast-growing division and create a strong rival to billionaire Jack Ma’s Ant Financial.

The sale and spin-off of JD Finance, will be completed by the middle of 2017. It will be able to move more aggressively as a separate unit, and respond to challenges from Alibaba’s Ant Financial, which is considering a public offering in China. will retain access to 40% of future JD Finance profits even though it loses control of the unit. The company did not disclose investors in JD Finance but confirmed that they are a mix of old and new investors.

On the other hand, posted a 47% increase in fourth-quarter revenue, sparked by strong sales during the holiday shopping period late last year. Revenue for the period ended in December came in at 80.3 billion yuan, surpassing the e-commerce company’s own forecast of 75 billion to 77.5 billion yuan.

Read More News

in Hong Kong by

Scoring with the market leader

Responsive to market needs, Sing Tao Newspaper Group is a one-stop provider of both online and offline solutions and has coveted e..


Leave a Reply

You must be logged in to post a comment.