"New Stocks" JD Property Development submits listing application again

JD Group (09618.HK) subsidiary JD Infrastructure Development and Management Platform has recently submitted a listing application to the Stock Exchange again, with Bank of America Securities, Goldman Sachs, and Haitong International serving as joint sponsors.

As of the end of September last year, JD Infrastructure's modern infrastructure asset portfolio had a total asset management scale of 121.5 billion yuan. The company focuses on logistics parks and holds and manages an asset network covering core logistics nodes. JD Infrastructure stated that its strategic transformation through a light asset model has brought recurring revenue, with management fee income achieving a compound annual growth rate of 30% from fiscal year 2020 to 2024.

In the first three quarters of last year, JD Infrastructure recorded revenue of over 3.002 billion yuan, a year-on-year increase of 21.2%. During the period, the loss was 159 million yuan, significantly narrowing compared to the 1.375 billion yuan loss in the same period of 2024. Adjusted profit under non-International Financial Reporting Standards was 823 million yuan, a year-on-year increase of nearly 77%.

JD Infrastructure develops, holds, or manages 259 logistics parks, 20 industrial parks, and 6 data center infrastructures. The company revealed that the proceeds from the listing will be used to expand its domestic and overseas infrastructure asset network