JD Industrials Drops 7% in Hong Kong Grey Market

JD Industrials shares droppped in Hong Kong grey market.

Operating as a stand-alone business unit of JD Group since 2017, JD Industrials offers a wide range of industrial products and digital supply-chain services in China. It had grown into the country’s largest maintenance, repair and operations procurement service provider by transaction value, which was nearly three times larger than its nearest competitor, according to consultancy CIC.

JD.com will retain a 72 per cent stake after the listing. The company acknowledged in the filing that any negative development in its relationship with parent JD.com could “materially and adversely” affect its business and brand.