Financing for major subsidiaries |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 | |||
| Financing for major subsidiaries |
JD Logistics On March 25, 2022, JD Logistics entered into a placing agreement to issue its ordinary shares to a group of third-party investors for net proceeds of approximately HK$3,102 million in a placement (the “JDL Placement”). Concurrently, the Company, through its wholly owned subsidiary, had entered into a subscription agreement with JD Logistics to subscribe for ordinary shares of JD Logistics, at the same per share price for the JDL Placement, for net proceeds of approximately US$692 million in cash (the “JD Subscription”). Upon completion of the JDL Placement and the JD Subscription in 2022, the Company maintained its shareholding in JD Logistics at approximately 63.56%, and continued to consolidate JD Logistics’s financial results into its consolidated financial statements. The Company recorded the net proceeds of financing in non-controlling interests of RMB2,221 million and additional paid-in capital of RMB295 million. JD Industrials In March 2023, JD Industrials entered into definitive agreements for non-redeemable series B preference share financing (“JD Industrials Series B Preference Shares”) with a group of third-party investors. The total amount of financing arising from JD Industrials Series B Preference Shares was approximately US$210 million. Among the net proceeds received, RMB431 million was recorded as non-controlling interests and RMB1,031 million was recorded as additional paid-in capital. The Group determined that JD Industrials Series B Preference Shares should be classified as non-controlling interests upon its issuance since they were not redeemable by the holders. JD Property In March and June 2022, JD Property entered into definitive agreements for its non-redeemable series B preferred share financing (“JD Property Series B Preference Shares”) with investors led by Hillhouse Investment, Warburg Pincus, and one leading global institutional investor, among others. The total amount of financing raised was approximately US$803 million. Among the net proceeds received, RMB3.9 billion was recorded as non-controlling interests and RMB1.4 billion was recorded as additional paid-in capital. The Group determined that JD Property Series B Preference Shares should be classified as
non-controlling interests upon its issuance since they were not redeemable by the holders. |