August 14, 2022
Your browser doesn’t strengthen HTML5 audio Chinese language home media reported on Wednesday that logistics

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Chinese language home media reported on Wednesday that logistics company JD.com has lately finished an acquisition of competitor Deppon Categorical.

As early as January 6, 2022, rumors emerged that JD Logistics had bought Deppon Categorical, despite the fact that this was once then denied through the company. The scoop got here from a screenshot circulating on-line indicating that Deppon internally made the authentic announcement of the purchase and that Cui Weixing, chairman and normal supervisor of Deppon Categorical, would give up and JD.com would assign senior control staff to take over.

Based in 1996, Deppon Categorical reached $2.6 billion in earnings in 2010. Then, in 2018, Cui Weixing led Deppon to be indexed at the A-share marketplace throughout the rotating spouse CEO gadget.

Through the similar 12 months, Deppon Logistics was once renamed as Deppon Categorical and become absolutely engaged within the large-item specific trade sector, however the transition was once no longer clean. From 2018 to 2021, earnings from itsexpress trade declined yearly, whilst earnings from its courier trade grew slowly. Its web income fell through just about 90%. On February 28, 2022, Deppon suspended buying and selling, and the director’s administrative center showed that the corporate can be bought.

One home media outlet, tech621, realized from a supply at JD Logistics that the 2 events had began contacting each and every different round 2019, however that the negotiations had been reputedly lower than clean. Again then, JD additionally bought Kuayue Categorical, some other corporate focusing on fast supply services and products, for three billion yuan.

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As well as, on February 25 this 12 months, JD introduced plans to subscribe for commonplace stocks of Dada Staff for $546 million. Upon the acquisition, JD’s shareholding ratio in Dada larger from 46.46% to about 52%.