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JD.com, a leading supply chain-based technology and service provider, will hold its annual general meeting (AGM) on June 21, 2024, at its headquarters in Beijing. The AGM will not include proposals for shareholder approval but will serve as an open forum for discussions between shareholders and management. Shareholders of record as of May 24, 2024, are entitled to attend. JD.com has also filed its annual report on Form 20-F, including audited financial statements for the fiscal year ended December 31, 2023, which can be accessed on the JD.com and SEC websites.
JD.com has completed a US$2.0 billion offering of convertible senior notes due 2029, which includes an additional US$250 million from initial purchasers. The notes are aimed at qualified institutional buyers under Rule 144A and certain non-U.S. persons under Regulation S. The company plans to use the proceeds for repurchasing American Depositary Shares (ADSs), expanding its overseas business, improving its supply chain network, and meeting working capital needs. These notes bear an interest rate of 0.25% per year and mature on June 1, 2029. The initial conversion rate is 21.8830 ADSs per US$1,000 principal amount, equivalent to a conversion price of approximately US$45.70 per ADS.
JD.com has upsized and priced its convertible senior notes offering, raising an aggregate principal amount of $1.75 billion due 2029. The notes will bear an interest rate of 0.25% per year, payable semiannually, and may be converted into American Depositary Shares (ADS) or cash. The initial conversion rate is set at 21.8830 ADS per $1,000 principal amount, with a conversion premium of 35% above the ADS reference price of $33.85. Proceeds will be used for concurrent and future repurchases of ADS, overseas expansion, supply chain improvement, and working capital needs. The notes are expected to close around May 23, 2024.
JD.com has released its unaudited interim condensed consolidated financial statements for the quarters ending March 31, 2023, and 2024. These documents include a detailed 'Management's Discussion and Analysis of Financial Condition and Results of Operations' (MD&A). The financial statements and MD&A provide insights into the company's financial performance and operational metrics over the specified periods. Stakeholders can access these documents for an in-depth understanding of JD's financial health and operational trends.
For more detailed information, visit the provided links to view the full financial statements and MD&A.
JD.com announced a proposed offering of US$1.5 billion convertible senior notes due 2029, with an option for purchasers to buy an additional US$225 million. The proceeds will be used for repurchasing shares, expanding overseas business, improving the supply chain, and working capital needs. The notes will be senior, unsecured obligations, convertible into cash, ADSs, or a combination. Purchasers can convert at any time before maturity. JD.com plans a concurrent repurchase of its Class A shares/ADSs alongside the pricing of the notes. Future repurchases are also planned.
JD.com reported Q1 2024 results with net revenues of RMB260.0 billion (US$36.0 billion), a 7.0% increase YoY. Income from operations grew to RMB7.7 billion (US$1.1 billion), up from RMB6.4 billion. Non-GAAP operating income rose to RMB8.9 billion (US$1.2 billion) from RMB7.9 billion. Net income attributable to shareholders increased 13.9% to RMB7.1 billion (US$1.0 billion). Non-GAAP net income was RMB8.9 billion (US$1.2 billion), up 17.2%. Diluted net income per ADS rose to RMB4.53 (US$0.63), a 15.3% increase. Cash and equivalents totaled RMB179.3 billion (US$24.8 billion). JD.com repurchased 98.3 million Class A shares worth US$1.3 billion. Business segments include JD Retail, JD Logistics, and New Businesses, with diverse growth and operational highlights.
