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Financing for major subsidiaries | 12 Months Ended
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Dec. 31, 2023
Financing for major subsidiaries |
22. | Financing for major subsidiaries
JD Logistics In May 2021, JD Logistics completed its IPO and issued 700,534,900 ordinary shares, including the exercise of the over-allotment option, at HK$40.36 per share. The net proceeds after deducting underwriting commissions, share issuance costs and offering expenses approximately amounted to RMB22.9 billion. Among the proceeds received, RMB6.1 billion was recorded as non-controlling interests and RMB16.8 billion was recorded as additional paid-in capital. On March 25, 2022, JD Logistics entered into a placing agreement to issue its ordinary shares to a group of third-party investors for net proceeds of approximately HK$3,102 million in a placement (the “JDL Placement”). Concurrently, the Company, through its wholly-owned subsidiary, had entered into a subscription agreement with JD Logistics to subscribe for ordinary shares of JD Logistics, at the same per share price for the JDL Placement, for net proceeds of approximately US$692 million in cash (the “JD Subscription”). Upon completion of the JDL Placement and the JD Subscription in 2022, the Company maintained its shareholding in JD Logistics at approximately 63.56%, and continued to consolidate JD Logistics’s financial results into its financial statements. The Company recorded the net proceeds of financing in non-controlling interests of RMB2,221 million and additional paid-in capital of RMB295 million. JD Industrials In March 2023, JD Industrials entered into definitive agreements for non-redeemable series B preference share financing (“JD Industrials Series B Preference Shares”) with a group of third-party investors. The total amount of financing arising from JD Industrials Series B Preference Shares was approximately US$210 million. Among the proceeds received, RMB431 million was recorded as non-controlling interests and RMB1,031 million was recorded as additional paid-in capital. The Group determined that JD Industrials Series B Preference Shares should be classified as non-controlling interests upon its issuance since they were not redeemable by the holders. JD Property In March 2021, JD Property entered into definitive agreements for the non-redeemable series A preference share financing (“JD Property Series A Preference Shares”) with a group of third-party investors. The total amount of financing arising from JD Property Series A Preference Shares was US$703 million. Among the proceeds received, RMB3.1 billion was recorded as non-controlling interests and RMB1.3 billion was recorded as additional paid-in capital. In March and June 2022, JD Property entered into definitive agreements for its non-redeemable series B preferred share financing (“JD Property Series B Preference Shares”) with investors led by Hillhouse Investment, Warburg Pincus, and one leading global institutional investor, among others. The total amount of financing raised was approximately US$803 million. Among the proceeds received, RMB3.9 billion was recorded as non-controlling interests and RMB1.4 billion was recorded as additional paid-in capital. The Group determined that JD Property Series A Preference Shares and JD Property Series B Preference Shares should be classified as non-controlling interests upon its issuance since they were not redeemable by the holders.

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