JD.com Unit Shares Fall in Hong Kong After $383 Million IPO

Packages on a JD.com Inc. delivery truck in Beijing, China.
Photographer: Na Bian/Bloomberg

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By Bloomberg News

December 10, 2025 at 11:30 PM UTC

Updated on

December 11, 2025 at 1:34 AM UTC

Shares of Jingdong Industrials Inc., the supply-chain unit of Chinese e-commerce giant JD.com Inc., fell in their Hong Kong trading debut after a HK$2.98 billion ($383 million) initial public offering.

The stock declined as much as 10% on Thursday before paring the loss. Its performance is being closely watched amid growing skepticism in new listings after a banner year for initial public offerings in the financial hub.