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PhillipCapital: JD.com, Inc. (09618) Tencent to distribute JD’s shares as dividend Sell-off pressure for near-term

Company Profile

JD.com, Inc. (JD) operates online retail and marketplace e-commerce businesses, as well as
fulfillment services. For the online retail business, JD sells self-operated products and thirdparty merchant products through its own online e-commerce platform, and provides digital
marketing services to online retail business suppliers, third-party merchants and other
partners. JD also collaborate with Walmart on e-commerce by launching Walmart and Sam’s
Club Flagship Stores on its platform and providing fulfillment solutions to them. Through
strategic partnership with Dada Group, JD Logistics to provide customers with on-demand
and last-mile delivery services of a wide selection of grocery and other fresh products
through JD-Daojia. JD also explores in the offline retail market through 7FRESH, an offline
fresh food markets, experimenting on the omni-channel model.

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