JD.com Announces New Share Repurchase Plan

TapTechNews August 27th news, JD.com Group announced in the Hong Kong Stock Exchange in the evening of August 27th that its board of directors has approved a new share repurchase plan, which will take effect since September 2024.

According to the new share repurchase plan, the company can repurchaseshares (including American Depositary Shares) worth no more than 5 billion US dollars (TapTechNews note: currently about 35.611 billion Chinese yuan)within the next 36 months by the end of August 2027.

The financial report of the second quarter of 2024 released by JD.com on August 15 shows that JD.com's revenue in the second quarter of 2024 is 291.4 billion Chinese yuan, a year-on-year increase of 1.2% compared to the second quarter of 2023; the net profit attributable to ordinary shareholders of the company is 12.6 billion Chinese yuan, an increase of 92.1% year-on-year.