Date
15 December 2017

JD.com revamps business in lurch to IPO, paper says

Electronic commerce website JD.com said it will split up into four companies in what could be a step toward a public listing, National Business Daily reported Thursday. Founder Liu Dongqiang will become chief executive of Jingdong Group which will become a holding company for JD.com, a financial services group, e-commerce site paipai.com and an overseas business group. In March last year, Liu said an e-commerce site alone will not deliver substantial profit but could be a platform for other financial products and services such as logistics and cloud computing, the report said.

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