JD Industrials lists in HKEX, posts $1.0b adjusted profit

The IPO follows rising revenue and adjusted earnings.

JINGDONG Industrials began trading on the Main Board of the Hong Kong Stock Exchange on 11 December following the pricing of its initial public offering at $14.1 per share, raising about $2.83b assuming the overallotment option is not exercised, according to an announcement.

The market debut follows sustained profitability growth. Adjusted net profit rose to about $1.0b (RMB 910m) in 2024 from roughly $901m (RMB 820m) in 2023 and $780m (RMB 710m) in 2022, reflecting a CAGR of 12.8%. Adjusted net profit reached about $549m (RMB 500m) in the H1 2025.

Revenue from continuing operations also expanded over the period, rising to about $22.4b (RMB 20.4b) in 2024 from approximately $19.0b (RMB 17.3b) in 2023 and $15.5b (RMB 14.1b) in 2022, reflecting a compound annual growth rate of 20.1%. For the eight months ended 31 August 2025, revenue reached about $15.5b (RMB 14.1b), up 18.9% year on year (YoY).

The company said it will use listing proceeds to strengthen industrial supply chain capabilities, accelerate geographic expansion and pursue selective strategic investments and acquisitions.

1 HKD = 0.91 RMB