Arab Today, arab today jdcom buys 10 stake in yonghui superstores for ¥43bn
Last Updated : GMT 22:03:31
Arab Today, arab today
Arab Today, arab today

JD.com buys 10% stake in Yonghui Superstores for ¥4.3bn

Arab Today, arab today

Arab Today, arab today JD.com buys 10% stake in Yonghui Superstores for ¥4.3bn

Chinese Online Retailer JD.com
Shanghai - XINHUA

Chinese online retailer JD.com said on Friday that it has bought a 10-percent stake in domestic supermarket Yonghui Superstores for 4.31 billion yuan (around 700 million U.S. dollars).

The deal is part of the online retailer's campaign to leverage existing networks of bricks-and-mortar stores to boost its supply chain and diversify its offline offerings, as competition with rival Alibaba, which runs leading Chinese online marketplaces Taobao and Tmall.com, intensifies.

Founded in 1998, Yonghui Superstores currently run 364 supermarkets on the Chinese mainland, with plans for 179 more this year.

Profit at the supermarket chain rose 16.3 percent during the first half this year to 527 million yuan on top of 20.8 billion in revenue.

After the investment, JD.com is entitled to appoint two directors to the board of Yonghui. Shares in the supermarket have been suspended from trading at the Shanghai Stock Exchange since July 31.

JD.com's second quarter results released on Friday showed that total transactions during the quarter exceeded 100 billion yuan for the first time, making it the fifth consecutive month the value of products sold on the online platform recorded year-on-year growth over 80 percent.

The company's net revenues also topped estimates with a 61 percent rise to 45.9 billion yuan, but JD.com expects revenue growth to moderate between 49 percent and 54 in the third quarter.

The strong performance came as a result of company's growing shift toward mobile shopping and more cooperation with overseas brands to expand imported offerings to Chinese shoppers.

Shares in JD.com rose nearly 5 percent to 34.4 U.S. dollars on Friday morning trading on NASDAQ. The company has risen 60 percent since it was floated in May 2014 and is now a component of the NASDAQ-100 Index and the NASDAQ-100 Equal Weighted Index.
Chinese Online Retailer JD.com

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today jdcom buys 10 stake in yonghui superstores for ¥43bn Arab Today, arab today jdcom buys 10 stake in yonghui superstores for ¥43bn

 



Arab Today, arab today
Arab Today, arab today Jordan airline suggests flyers 'talk'

GMT 11:59 2017 Friday ,24 March

Jordan airline suggests flyers 'talk'
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Rebel supporters flood Yemen streets

GMT 06:39 2017 Monday ,27 March

Rebel supporters flood Yemen streets
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemen children dream of school

GMT 07:25 2017 Friday ,24 March

Yemen children dream of school
Arab Today, arab today Trump to roll back Obama clean power plan

GMT 11:10 2017 Monday ,27 March

Trump to roll back Obama clean power plan
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Nermein Al Fekki films “Foxes in the Valley”

GMT 09:58 2017 Saturday ,25 March

Nermein Al Fekki films “Foxes in the Valley”
Arab Today, arab today Salvage of South Korea's Sewol ferry

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry

GMT 06:21 2017 Friday ,24 March

MP submits a petition to dismiss university head

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 15:25 2017 Tuesday ,21 March

2017 already marked

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 20:03 2017 Saturday ,25 March

Health expert warns from dust sensitivity

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday