Chinese tech heavyweights Tencent Holdings Ltd and JD said on Monday [18 December 2017] that they will jointly invest $863 million in cash in Chinese online discount retailer Vipshop Holdings Ltd. Tencent and JD will purchase the newly issued Class A ordinary shares of Vipshop for $604 million and $259 million respectively. The purchase price will be $65.40 per Class A ordinary share, which is equivalent to $13.08 per American depositary share of Vipshop…Full Article: China Daily Dec 2017
- As a result of the agreement Tencent Holdings (HKG: 0700) and JD.com (NASDAQ:JD) will acquire a respective 7% and 5.5% stake in Vipshop Holdings (NYSE:VIPS). In addition, Tencent will permit Vipshop to capture online traffic from its WeChat (digital payment system) app, while JD.com will incorporate Vipshop features into its own app.
- In August 2015, JD.com purchased a 10% stake in Yonghui Superstores. Established in 2001 and headquartered in Fuzhou, Fujian Province, Yonghui operates 460 medium-sized supermarkets all over China (as of 2015). During the same month, Pepsi announced it would market a new dairy drink, Quaker High Fiber Oats Dairy, via JD.com, a Chinese e-commerce site. It was Pepsi’s first instance of launching a new product exclusively on an e-commerce site not based in the USA.
- In June 2015, Agriculture and Agri-Food Canada signed an agreement with the Chinese e-commerce site JD.com in Beijing. As a result, JD.com will launch a page dedicated to selling Canadian agri-food and fish and seafood products within the next year.
- In March 2014, Tencent Holdings (internet and tech investment company) purchased a 15% stake in JD.com.
- Founded in 2008 and headquartered in Guangzhou, Guangdong Province, Vipshop Holdings (NYSE:VIPS) is an online (e-commerce) retailer.
- Founded in 1998 and headquartered in Beijing, Jingdong Mall (aka JD.com) is one of China’s largest e-commerce platforms. In May 2014, the company was listed on New York’s NASDAQ Stock Exchange (NASDAQ:JD). The company’s original focus was electronics.
- Founded in 1998 and headquartered in Shenzhen, Guangdong Province, Tencent Holdings (HKG:0700) is an internet focused service company whose digital product line includes QQ (instant messaging service), WeChat (Weixin instant messaging service), and other web-based services such as video games, microblogs, search engines, web browsers, and e-commerce. In June 2004, Tencent Holdings was listed on the Hong Kong Stock Exchange.
Hong Kong Trends