On May 22, 2014 (April 24, 2014 in the lunar calendar), JD. com listed the next Amazon? on Nasdaq. At 21:30 Beijing time on May 22, 2014, Jingdong Mall, which was established ten years ago, was launched on Nasdaq. The opening price was US$21.75, up 14% from the offering price of US$19. Based on the opening price, JD has a market value of US$29.7 billion and can raise US$2.04 billion. Jingdong's listing is by far the largest IPO of China private companies in the United States. By market value, Jingdong has also become the third largest Internet listed company in China after Tencent and Baidu. After its establishment, JD. com has had several rounds of huge financing, and each time is a major event in the technology and electric business circles. For consumers, low prices and first-class delivery speed are the most direct feelings. It can be said that Jingdong's stringent requirements for logistics and distribution have accelerated the entire B2C e-commerce industry-whether active or passive. Jingdong founder Liu Qiangdong was born in rural Suqian, Jiangsu Province. He actively started a business when he was studying at Renmin University of China. His strong and fierce personal style is also implemented in the company he founded. On the issue of profits, for many years, JD. com has been considered to have fallen into the whirlpool of "huge losses-financing-huge losses", and he believes that price wars and heavily invested logistics systems are all aimed at improving consumer satisfaction. Degree, customer satisfaction is the value of the company, and valuable companies will not fail to make money. Jingdong's rapid growth in sales is also enough to give Liu Qiangdong and investors confidence: it has skyrocketed from 10 million yuan in 2004 to about 120 billion yuan in 2013. Currently, JD's net revenue is only about 1/5 of Amazon's. Some forecasters believe that JD will become the next Amazon. On the day of listing, Jingdong Mall's Weibo disclosed a letter written by Liu Qiangdong to employees. Liu Qiangdong expressed his gratitude to the times, consumers, and suppliers, and also confidently said that he wanted to become a great world-class enterprise. On May 22, Liu Qiangdong and Nasdaq President Bob Greifeld Liu Qiangdong were once worth about US$6 billion. Before the IPO, JD founder Liu Qiangdong held 18.8% of JD's shares, making him the largest shareholder; Tiger Global Fund held 18.1%, ranking second; Tencent held 14.3% of the shares, making it the third largest shareholder. After the IPO, Liu Qiangdong held a 20.5% stake in Jingdong. Based on the opening price of US$21.75, Liu Qiangdong was worth about US$6 billion. His share types are all Class B shares. According to the voting rights of JD AB shares of 1:20, Liu Qiangdong will own 83.7% of JD's voting rights. According to Jingdong's prospectus, Jingdong's IPO is expected to issue 93,685,620 ADSs (American Depositary Shares), and will also grant underwriters over-allotment rights of up to 14,052,840 ADSs, that is, the maximum issuance volume is 107,738,460 ADSs. On May 22, Jingdong's senior management team celebrated the company's listing. Before listing, Jingdong stated that assuming the underwriters did not exercise additional options to purchase American depositary shares, this public offering was expected to raise a total of US$1.78 billion, and based on the opening price of US$21.75, Jingdong would raise US$2.04 billion. Liu Qiangdong: Thank you for the great era of reform and opening up. Liu Qiangdong said at the bell ringing site on the 22nd: In the past 10 years, walking from Beijing to Nasdaq has been just a small success. Thanks to every Jingdong person, today belongs to every Jingdong person and their family! After Jingdong went public, the official Weibo of Jingdong Mall forwarded an open letter written by Liu Qiangdong to Jingdong employees, titled "Dreams shine into reality, welcoming a new beginning." Liu Qiangdong said that when I started my business, although I was just an ordinary college student who came out of rural areas, I always had a dream to be a great enterprise that contributes to society and creates value for society, even in the most difficult time of starting a business. At the moment, I have never had doubts or wavers. Thanks to the great era of reform and opening up in China, we have the opportunity to start a business fairly and realize our dreams without "fighting for our fathers"; thank consumers for tolerating our imperfections and consistently spurring us to grow; thank all suppliers, partners and investors, appreciate our "axis" and bigotry, and trust our persistence and pursuit. Liu Qiangdong said that in the past ten years, we have successfully accomplished three things: 1. Re-shaping the "trust" of China's e-commerce;2. Re-defining the "experience" of China's e-commerce-today, Jingdong has distributed warehouses all over the country (Warehousing and distribution, Observer Network Note) The system has made the "last mile" the most important ability to determine the user experience, and the ridicule and ridicule of us at the beginning are still in our ears;3. Reinterpret the "value" of China's e-commerce. On May 22, Jingdong's senior management team went to the NASDAQ Building to hold the unveiling ceremony of the Golden Ox. At 22:01 Beijing time on May 22, Jingdong posted on Sina Weibo: Jingdong's senior management team went to the NASDAQ Building to hold the unveiling ceremony of the Golden Ox, implying a booming bull market in the future. This is the first time in NASDAQ history that the Golden Bull unveiling ceremony will be held for a listed company! At 22:10 on May 22, Beijing time, Jingdong's Sina Weibo posted a message: "#Jingdong Listing #2004, 2005, 2006, 2007, 2008, 2009, 2010, 2011, 2012, 2013, 2014-Thank you for accompanying Jingdong through this beginning!" This Weibo also comes with a picture with three big characters in the most prominent position: Thank you. The first-quarter report released by JD Mall at the end of March this year showed that JD's revenue for the first quarter of 2014 was 22.657 billion yuan, a year-on-year increase of 65.1%; the net loss was 3.795 billion yuan, compared with the net profit of 13 million yuan in the same period last year., turning from a small profit to a loss year-on-year. This loss was mainly due to the 3.670 billion yuan equity compensation expenses (i.e. equity incentives) incurred in the first fiscal quarter, mainly due to the JD board of directors granting 93780970 restricted shares to JD CEO Liu Qiangdong. Tencent's stake in JD doubled its valuation on January 30, 2014, the last day of the Lunar Year of the Snake, JD Mall officially submitted listing documents to the US Securities and Exchange Commission. At that time, some institutions predicted that Jingdong's listing valuation would be between US$8 billion and US$10 billion. On May 22, JD. com landed on NASDAQ, JD. com and Tencent joined hands. On March 21, Jingdong delivered a new prospectus, stating that after the introduction of Tencent, Tencent's mobile traffic resources such as WeChat will bring a value of US$1 billion to Jingdong. At the same time, the prospectus shows that Tencent's valuation of JD after taking a stake is US$15.721 billion. In other words, JD's valuation increased by 95.8%(based on a valuation of US$8 billion at the end of January). There is no doubt that the increase in JD's valuation mainly comes from its cooperation with Tencent. JD said that this cooperation not only expands JD's business scope, but will be conducive to the improvement of JD's business, but also reduces JD's discount rate from 19% to 17.5%. The next Amazon? The next Amazon? Some industry views believe that JD's previous valuation has been seriously underestimated, and its valuation has already exceeded US$20 billion. Some Americans have even called JD the next "China Amazon." Jingdong Financing and Valuation Chart (January 2009 to March 2014) According to public financial reports, in 2013, Jingdong's net revenue was approximately US$11.454 billion (net revenue is not sales. Net revenue refers to the remainder of all revenue minus non-operating income such as non-recurring income. Observer Online Note), Amazon reached US$74.45 billion, 6.4 times that of Jingdong. As of May 13, Amazon's market value was US$139.376 billion, which is 4.7 times the current market value of Jingdong (based on the opening price of US$29.7 billion). In other words, JD's current valuation is within a reasonable range. Jingdong Events In May 2014, the resale operation business of "Jingdong Communications" was officially launched. In April 2014, Jingdong Group adjusted its organizational structure and established two subsidiary group companies, one subsidiary and one business division, namely: Jingdong Mall Group, Financial Group, Paipai Online and Overseas Business Division. In March 2014, it reached a strategic cooperation with Tencent to acquire some of Tencent's e-commerce businesses and assets. In March 2014, it conducted O2O cooperation with tens of thousands of convenience stores in more than 15 cities. In March 2014, the virtual operation brand "Jingdong Communications" was released; Launched the first Internet financial credit payment product-"Jingdong Baidian"; launched the "JD" plan to accelerate intelligent hardware innovation. In December 2013, it became one of the first virtual operators in China. Launched the Supply Chain Finance service "Jingbao Bay" to provide financing services to suppliers in three minutes. In November 2013, the JDPhone plan was released to integrate the industry chain to create the best cost-effective mobile phone for users. In November 2013, he obtained a fund payment license. In September 2013, the first corporate social responsibility report was released and proposed the concept of "five actions". In July 2013, the "Asia One" Shanghai Logistics Center (Phase I) completed the roof of the building structure. In June 2013, four major e-commerce cloud solutions were launched: Zeus, Yunding, Yunqing, and Yunhui. Issued the first electronic invoice in the field of e-commerce in China. In March 2013, the domain name was officially changed to JD.COM, and a mascot image named "Joy" was launched. In October 2012, Jingdong Overseas Station (English website) officially launched public beta, taking an important step in internationalization. In October 2012, it acquired the third-party payment company Online Banking and officially laid out the payment system. In December 2010, the Jingdong Open Platform was officially put into operation. In November 2010, book products were put on sale, realizing the transformation from a 3C online retailer to a comprehensive online retailer. In March 2010, the "211 Time-limited Delivery" was launched, leading and establishing a new standard for China's B2C industry. In October 2009, the national customer service center was settled in Suqian City, Jiangsu Province, and the call center was upgraded from distributed management to centralized management. In February 2009, it obtained the "Home Appliances to the Countryside" retailer license issued by the Ministry of Commerce, becoming the first e-commerce company to undertake the task of home appliances to the countryside. In June 2008, major appliance product lines such as TVs, air conditioners, and ice washing were launched, and the entire line of 3C products was completed. In July 2007, three major logistics systems were built in Beijing, Shanghai and Guangzhou. In June 2007, a new domain name www.360buy.com was officially launched and successfully revised, officially changing its name to Jingdong Mall. In May 2007, we made every effort to explore the South China market and established a South China branch in Guangzhou. In January 2006, it announced its entry into Shanghai and established a wholly-owned subsidiary in Shanghai. In January 2004, when entering the field of e-commerce, Jingdong Multimedia Network was officially launched, using the domain name www.jdlaser.com.