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The logistics unit from the GROUND increases to 1.5 billion yuan in investment fund

FILE PHOTO: in A sign of China’s e-commerce business JD.com it is to be seen at the CES (Consumer Electronics Show) east Asia 2016 in Shanghai, China, May 12, 2016. (REUTERS photo/Aly Song, File/Photo

SHANGHAI (Reuters) – Chinese e-commerce giant JD.com’s logistics division has increased from 1.5 billion yuan ($218 million) fund to invest in companies and technologies, which specialises in logistics, the company said on Monday.

The fund’s limited partners shall have the JD Logistics, the JD.com the mother company, in addition to “all publicly listed companies and government-led companies,” according to the company, it will refuse to work.

It will be an addition to JD.com has it’s own investment team’s run offers a wide variety of industries and sectors. The Chinese news website Jiemian the first mention of the fundraiser on Monday.

JD.com’s property management division has a fund, which was established in February 2019 at the latest, in order to invest in the storage facilities. The fund was set up by GIC, Singapore’s sovereign wealth fund, and by February 2019 at the latest, had committed capital of 4.8 billion yuan ($698 million) and is a file that turned out to be.

JD.com a spin-off of the logistics unit is in a stand-alone entity in march of 2017, and then it was opened for the delivery and retention of the services of a third party.

By 2018, the department said it was raising $2.5 billion from investors, including Hillhouse Capital Group and Sequoia Capital.

However, it has been and continues to be a loss-maker for the JD.com. Earlier this year, JD.com CEO Richard told His employees in an internal letter, the division racked up a loss of 2.8 billion yuan in 2018. The company has also adjusted its fee to the courier to move to the payments of base salary will be as per the delivery plan.

At a press roundtable back in June, Bing Fu, head of the planning and development of the GROUND Logistics, but said an IPO was a possibility in the unit, but it was not a clear timeline in the back of my mind.

Reporting by Josh Horwitz, editing by David Evans

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