JD Logistics, Inc.
JD Logistics, Inc. (京東物流股份有限公司) is a company incorporated in the Cayman Islands with limited liability, on January 19, 2012 — not incorporated in mainland China itself, though its principal operations and headquarters are based in Beijing, China, which likely explains why some registry summaries list “China” as its jurisdiction. The company is active and listed on the Main Board of the Hong Kong Stock Exchange under stock code 2618. JD Logistics, Inc. is a technology-driven supply-chain solutions and logistics services provider, offering integrated end-to-end supply chain management, warehousing, and last-mile and freight delivery services to JD.com — the e-commerce group of which it is part — and to a large base of third-party corporate customers across sectors including fast-moving consumer goods, home appliances, furniture, and automotive.
JD Logistics, Inc. completed its initial public offering on the Hong Kong Stock Exchange on May 28, 2021, raising net proceeds of approximately RMB22.9 billion, later supplemented by a March–May 2022 placing and subscription that raised a further RMB6.9 billion. For the year ended December 31, 2025 (consolidated, audited), the company reported revenue of RMB217.1 billion, up 18.8% year-over-year (2024: RMB182.8 billion), and profit attributable to owners of the Company of RMB6.65 billion (2024: RMB6.20 billion). As of December 31, 2025, the group employed 682,705 staff, the large majority in operations roles.
Material recent developments include a leadership change effective November 13, 2025, when Mr. Zhenhui Wang succeeded Mr. Wei Hu as chief executive officer and executive director; the phased 2024–2025 acquisition of the remaining approximately 36.43% of Kuayue Express, completed by July 31, 2025 and bringing group ownership to 100%; the October 31, 2025 completion of an acquisition of a local on-demand delivery business for approximately USD270 million; and, from January 13, 2026, a proposed voluntary delisting of subsidiary Deppon Logistics Co., Ltd. from the Shanghai Stock Exchange. The group also expanded internationally in 2025, nearly doubling its self-operated overseas warehouse footprint to close to 200 facilities (around 2 million square metres), and conducted its first overseas drone trial flight, in Saudi Arabia, in December 2025.
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- Corporate linkage & group structures
- Digitized company financials
- Firmographics — websites, social profiles, revenue and employee estimates
Shareholders
2
JD.com, Inc. (NASDAQ: JD; HKEX: 9618) is the controlling shareholder of JD Logistics, Inc., interested in approximately 63.06% of JD Logistics, Inc.’s issued shares (4,192,271,100 shares) as of June 30, 2025 — the latest shareholder-register date disclosed in JD Logistics, Inc.’s Interim Report 2025 — held via wholly-owned subsidiary Jingdong Technology Group Corporation. The comparable figure as of December 31, 2024 (JD Logistics, Inc.’s Annual Report 2024) was 63.26%; the small decline reflects new shares issued under employee share schemes rather than any sale by JD.com. A trust structure, The Core Trust Company Limited (via TCT (BVI) Limited and nominee companies), held a further approximately 7.58% under JD Logistics, Inc.’s post-IPO share incentive schemes as of the same date — an employee-benefit vehicle, not an independent investor. The DFA and Fidelity fund lines on file are small public free-float positions, not control stakes.
Ultimate beneficial ownership
At the parent level, JD.com, Inc. founder Mr. Richard Qiangdong Liu (刘强东) was interested in approximately 71.7% of the voting rights in JD.com, Inc. as of December 31, 2024, through JD.com’s weighted voting rights structure (Class A shares carry one vote, Class B shares carry 20 votes each). This structure belongs to JD.com, Inc., not to JD Logistics, Inc.: JD Logistics, Inc.’s own share capital is a single class of ordinary shares, with no disclosed dual-class or weighted-voting arrangement, so Mr. Liu’s influence over JD Logistics, Inc. runs indirectly through JD.com’s majority shareholding. No further disclosure of individual ultimate beneficial owners of JD Logistics, Inc. shares was located in the filings reviewed.
Sources
- JD Logistics, Inc., Interim Report 2025 (“Substantial Shareholders’ Interests…”), published September 5, 2025 — https://www.hkexnews.hk/listedco/listconews/sehk/2025/0905/2025090500345.pdf — retrieved September 9, 2026.
- JD Logistics, Inc., Annual Report 2024 (“Substantial Shareholders’ Interests…” and Directors’ interests in associated corporations), published April 25, 2025 — https://www1.hkexnews.hk/listedco/listconews/sehk/2025/0425/2025042501607.pdf — retrieved September 9, 2026.
Registry feed — rows exactly as filed with SAMR — public search via GSXT (National Enterprise Credit Information Publicity System), including entries the profile above does not cover.
| Shareholder | Type | Holding | Source Document |
|---|---|---|---|
| DFA INVESTMENT DIMENSIONS GROUP INC-Emerging Markets Core Eqy. 2 PORT. | 7.3% | SAMR — public search via GSXT (National Enterprise Credit Information Publicity System) | |
| Fidelity Salem Street TRT-Fidelity SAI Emerging Markets Value Index Fd | 6.8% | SAMR — public search via GSXT (National Enterprise Credit Information Publicity System) |
Officers
5
Per JD Logistics, Inc.’s Annual Report 2024 and its FY2025 annual results announcement (board composition as of March 5, 2026), the board comprises Mr. Zhenhui Wang (王振辉), Executive Director and Chief Executive Officer; Mr. Richard Qiangdong Liu (刘强东), Chairman and Non-executive Director (also founder and chairman of parent JD.com, Inc.); and independent non-executive directors Ms. Nora Gu Yi Wu (顧宜, chairperson of the Audit Committee), Ms. Christina Gaw (吳燕安), Ms. Laura J. Peterson, Dr. Xiande Zhao (赵先德), Mr. Yang Zhang (张扬), Dr. Lin Ye (叶林), and Mr. Yi Hoi Tang. Senior management named in filings includes Mr. Hao Wu (吴昊), Chief Financial Officer since May 11, 2023, and Company Secretary Mr. Ming King Chiu (赵明璋), FCIS, FCS, an external company secretary from Vistra Corporate Services who also holds the same role at several other Hong Kong-listed issuers. Sean Shibiao Zhang and Shuang Song, both titled “Investor Relations Director” on file, are investor-relations staff, not statutory officers or board members, and are not addressed further here. Nationalities are not stated in the source filings and are not inferred.
Recent changes: (1) Mr. Zhenhui Wang succeeded Mr. Wei Hu as CEO and executive director effective November 13, 2025, per JD.com, Inc.’s HKEX inside-information announcement of that date, with Mr. Hu taking up new roles within the wider JD Group; (2) Ms. Christina Gaw was appointed an independent non-executive director effective February 14, 2025; (3) Dr. Lin Ye was appointed an independent non-executive director effective June 28, 2024, the same date Mr. Liming Wang resigned from that role (Ms. Jennifer Ngar-Wing Yu separately resigned as an independent non-executive director effective August 15, 2024). No further officer detail beyond the above was located in the primary filings reviewed.
Sources
- JD Logistics, Inc., Annual Report 2024 (“Directors and Senior Management”), published April 25, 2025 — https://www1.hkexnews.hk/listedco/listconews/sehk/2025/0425/2025042501607.pdf — retrieved September 9, 2026.
- JD Logistics, Inc., Annual Results Announcement for the year ended December 31, 2025 (board composition as of announcement date), published March 5, 2026 — https://www.hkexnews.hk/listedco/listconews/sehk/2026/0305/2026030500918.pdf — retrieved September 9, 2026.
- JD.com, Inc., “JD Logistics Appoints New Chief Executive Officer” (HKEX inside information announcement), published November 13, 2025 — https://www1.hkexnews.hk/listedco/listconews/sehk/2025/1113/2025111301065.pdf — retrieved September 9, 2026.
Registry feed — rows exactly as filed with SAMR — public search via GSXT (National Enterprise Credit Information Publicity System), including entries the profile above does not cover.
Group Structure
JD Logistics, Inc. is the Hong Kong Stock Exchange-listed holding entity (stock code 2618) of the JD Logistics group, incorporated in the Cayman Islands, with principal operations in mainland China. Its controlling shareholder is parent JD.com, Inc. (NASDAQ: JD; HKEX: 9618), which was interested in approximately 63.06% of JD Logistics, Inc. as of June 30, 2025 (JD Logistics, Inc.’s Interim Report 2025), held via wholly-owned subsidiary Jingdong Technology Group Corporation — a majority controlling stake, not full ownership. JD Logistics, Inc. in turn consolidates a number of PRC operating subsidiaries and affiliates summarized in its annual report, most notably Shanghai Stock Exchange-listed Deppon Logistics Co., Ltd. (approximately 99.7% owned) and, following a phased 2024–2025 acquisition, wholly-owned Kuayue Express. Main jurisdictions are the Cayman Islands (incorporation), mainland China (principal operations), and an expanding overseas warehousing footprint across the Americas, Europe, the Middle East and Asia-Pacific (close to 200 facilities as of December 31, 2025). Country/ownership data above is drawn from JD Logistics, Inc.’s own HKEX filings (dated April 2025–March 2026), not from a corporate registry with group-linkage records; percentages are as officially reported, “not disclosed” otherwise.
Recent structural changes: (1) completion, in phases through June–July 2025, of the acquisition of the remaining approximately 36.43% of Kuayue Express, taking group ownership to 100%; (2) JD Logistics, Inc.’s October 31, 2025 acquisition of JD.com’s local on-demand delivery business (Dajiang Network Technology (Shanghai) Co., Ltd. and Dasheng (HK) Investment Limited) for approximately USD270 million, a connected transaction given JD.com’s controlling-shareholder status; (3) the proposed voluntary withdrawal of subsidiary Deppon’s listing from the Shanghai Stock Exchange, announced from January 13, 2026.
Verified relationships:
- Controlling shareholder: JD.com, Inc. (NASDAQ: JD; HKEX: 9618) — approximately 63.06% as of June 30, 2025.
- Consolidated subsidiary: Deppon Logistics Co., Ltd. (SSE: 603056) — approximately 99.7% owned; proposed for delisting from January 2026.
- Consolidated subsidiary: Kuayue Express — 100% owned following phased 2024–2025 acquisition.
Sources
- JD Logistics, Inc., Annual Results Announcement for the year ended December 31, 2025, published March 5, 2026 — https://www.hkexnews.hk/listedco/listconews/sehk/2026/0305/2026030500918.pdf — retrieved September 9, 2026.
- JD Logistics, Inc., Interim Report 2025, published September 5, 2025 — https://www.hkexnews.hk/listedco/listconews/sehk/2025/0905/2025090500345.pdf — retrieved September 9, 2026.
- JD Logistics, Inc., Annual Report 2024, published April 25, 2025 — https://www1.hkexnews.hk/listedco/listconews/sehk/2025/0425/2025042501607.pdf — retrieved September 9, 2026.
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Frequently Asked Questions
What is JD Logistics, Inc.'s exact legal name?
Its registered legal name is JD Logistics, Inc.; its Chinese name is 京東物流股份有限公司.
Where is JD Logistics, Inc. incorporated?
JD Logistics, Inc. is incorporated in the Cayman Islands with limited liability (incorporated January 19, 2012), not in mainland China as some registry summaries suggest.
Where does JD Logistics, Inc. operate?
Its principal operations and headquarters are in Beijing, China, alongside a growing international network of warehouses across the Americas, Europe, the Middle East and Asia-Pacific.
What is JD Logistics, Inc.'s legal form?
It is a company incorporated in the Cayman Islands with limited liability, listed on the Hong Kong Stock Exchange.
When did JD Logistics, Inc. go public?
JD Logistics, Inc. listed on the Main Board of the Hong Kong Stock Exchange on May 28, 2021.
What is JD Logistics, Inc.'s current status?
JD Logistics, Inc. is active and remains listed on the Hong Kong Stock Exchange, per its most recent filings (through March 2026).
What is JD Logistics, Inc.'s stock code?
Stock code 2618 on the Hong Kong Stock Exchange.
What does JD Logistics, Inc. do?
It provides integrated end-to-end supply chain solutions, warehousing, and last-mile/freight delivery services to JD.com and third-party customers.
What stake does JD.com hold in JD Logistics, Inc.?
JD.com, Inc. held approximately 63.06% of JD Logistics, Inc. as of June 30, 2025, via its wholly-owned subsidiary Jingdong Technology Group Corporation, making it the controlling shareholder.
What was JD Logistics, Inc.'s revenue and profit for FY2025?
For the year ended December 31, 2025, JD Logistics, Inc. reported consolidated revenue of RMB217.1 billion (up 18.8% year-over-year) and profit attributable to owners of the Company of RMB6.65 billion.
How many employees does JD Logistics, Inc. have?
JD Logistics, Inc. reported 682,705 employees as of December 31, 2025.
Who is JD Logistics, Inc.'s CEO?
Mr. Zhenhui Wang has served as Chief Executive Officer and Executive Director since November 13, 2025, succeeding Mr. Wei Hu.
What major developments has JD Logistics, Inc. had recently?
In 2025–2026 JD Logistics, Inc. completed a CEO transition, acquired 100% of Kuayue Express by phases, bought JD.com's local on-demand delivery business for about USD270 million, and proposed the delisting of subsidiary Deppon from the Shanghai Stock Exchange.
Is JD Logistics, Inc.'s share structure the same as JD.com's?
No — JD Logistics, Inc. has a single class of ordinary shares, unlike parent JD.com, Inc., which has a dual-class (Class A/Class B) weighted voting rights structure controlled by founder Richard Qiangdong Liu.
Is JD Logistics, Inc. still an active company?
JD Logistics, Inc.'s status on SAMR — public search via GSXT (National Enterprise Credit Information Publicity System) is listed as active.
What is JD Logistics, Inc.'s registered address?
The registered address on file for JD Logistics, Inc. is Beijing, China.
Can Zavia monitor changes to JD Logistics, Inc.'s ownership over time?
This profile reflects a point-in-time snapshot from SAMR — public search via GSXT (National Enterprise Credit Information Publicity System). Zavia's monitoring API can track changes to JD Logistics, Inc.'s registered shareholders, officers, and group structure going forward, flagging updates as they're filed rather than requiring a manual recheck.
Can I access JD Logistics, Inc.'s data through an API?
Yes. Zavia's API connects directly to official government ownership registries across 195 countries and territories, including China, so records like JD Logistics, Inc.'s registration, shareholder, UBO, and group-structure data can be queried programmatically instead of viewed one page at a time.
Where does this company information come from, and how current is it?
This record is sourced directly from SAMR — public search via GSXT (National Enterprise Credit Information Publicity System) and was last synced on 11 August 2026.