Monday, 2024 April 15 reveals its health subsidiary is valued at USD 7 billion amid Q3 earnings release

China’s e-commerce giant announced on Friday that it booked RMB 134.8 billion (USD 118.9 billion) in net revenue in the third quarter of this year, up 28.7% year-on-year.

The company posted RMB 612.3 million (USD 85.7 million) in net income, down from the net income of RMB 3 billion in the same period last year.

After releasing these earnings, disclosed that JD Health, a majority-owned subsidiary of the company, completed its series A preferred share financing in November, with a valuation of approximately USD 7 billion.

The company added that over the past few years, JD Health has built a comprehensive “Internet + healthcare” ecosystem, providing pharmaceutical and healthcare products, internet healthcare, health management, and intelligent healthcare solutions to customers. added that the company has grown to become China’s largest online pharmacy by revenue.

Jingli Song
Jingli Song
I believe Chinese innovation at various level needs to be known by the world.

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