JD Logistics, a subsidiary of e-commerce platform JD, plans to submit a Hong Kong IPO application this month, in preparation for going public in the second quarter. The company is hoping to be valued at $40 billion and aims to raise $4 billion. It has already secured the backing of Bank of America, Goldman Sachs, and Haitong International. The IPO will represent the third Hong Kong listing for JD, following JD.com and JD Health last year.
JD Logistics uses AI and smart technologies to offer supply chain and logistics services. The company won two prizes at China’s 2020 Science and Technology Awards for the Postal Industry in December, including for its “JD Logistics 5G Intelligent Logistics Park Production Control System”. According to the company, the system, which relies on AI technology, has increased efficiency by 15% and reduced potential safety hazards of staff by 50%.
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