Walmart Sells Stake in JD.com, Causing Big Impact

TapTechNews August 21st news, there was previously news that Walmart is seeking to raise up to 3.74 billion US dollars (TapTechNews note: currently about 26.697 billion yuan) by selling its stake in JD.com, triggering a 9% plunge in JD.com's US stocks after hours.

Tonight, JD Group released an announcement: As of August 20, 2024 Eastern US time, Walmart no longer holds equity in the company.

The company noted that the price and trading volume of the company's shares traded on The Stock Exchange of Hong Kong Limited today have changed. To the best of the company's knowledge, information and belief, the company is not aware of any other reasons for such price and volume changes (except those disclosed above) or any inside information that needs to be disclosed under Part XIVA of the Securities and Futures Ordinance, Chapter 571 of the Laws of Hong Kong.

Public information shows that Walmart obtained these shares when it sold its Chinese e-commerce business No. 1 Store in 2016 in exchange for a 5% stake in JD.com.

JD.com's revenue in the second quarter of 2024 was 291.4 billion yuan, an increase of 1.2% year-on-year compared to the second quarter of 2023; the net profit was 12.6 billion yuan, an increase of 92.1% year-on-year.

Related reading:

JD.com responds to Walmart's sale of 3.74 billion US dollars in equity: Full of confidence in the future cooperation between the two parties, and today it repurchased 390 million US dollars in stocks.

Walmart responds to减持 of 3.74 billion US dollars in JD.com shares: Focus on Walmart and Sam's China business, and JD.com has always been an important partner.

JD.com's after-hours trading plunged 9%, news said Walmart will sell its 3.74 billion US dollars stake.