Signed on March 9, 2022 at JD.com’s warehouse in Shanghai, China. The US Securities and Exchange Commission on Wednesday added more than 80 companies to its list of companies facing delisting from US exchanges, including China’s JD.com and Pinduoduo. , Blibili and NetEase.
Kilai Shen | Bloomberg | Good pictures
Chinese e-commerce company stocks JD.com Hong Kong fell 10% on Wednesday after US retailer Walmart confirmed it would sell its stake in the Chinese company.
Walmart’s decision to sell its stake will allow the company to “focus on our strong China operations for Walmart China and Sam’s Club and deploy capital toward other priorities,” Walmart told CNBC.
“JD has been a valuable partner to us for the past 8 years and we are committed to a continued business relationship with them,” the company said.
Hong Kong was the biggest loser Hang Seng Index. The Stocks listed in the US It fell 9.5% in later trade.
Walmart stepped in Strategic alliance with Chinese company in June 2016The US retailer has taken a 5% stake in JD.com.
In it 2023 Annual ReportJD.com owns 9.4% of Walmart’s common stock as of March 31, holding just 289 million shares.
JD.com had no comment when contacted by CNBC.
— CNBC’s Evelyn Cheng contributed to this report.
