According to information disclosed by the Hong Kong Stock Exchange, Richard Liu, founder of e-commerce giant JD.com, has recently sold 8.84 million shares in firm subsidiary JD Health, cashing out about HK $440 million.
Liu sold about 5 million JD Health‘s shares on May 3, for an average of HK $49 per share. On April 29, 3.84 million shares in JD Health were sold by Liu, for an average of HK $50.67 per share. After the reduction, Liu’s shareholding ratio decreased from 68.94% to 68.66%. JD Health‘s share price fell by 5.73% on Wednesday, closing at $43.60 per share.
Established in May 2019, the subsidiary was listed on the Hong Kong Stock Exchange on December 8, 2020. On the first day of listing, its market value exceeded HK $300 billion.
JD Health‘s business scope covers the fields of medical supply chains, medical and health services, digital healthcare, and more. In addition, it cooperates with enterprises in the industrial chain to build a more complete ecosystem.
JD Health has successfully built core products and sub-brands such as online retail pharmacy “JD Pharmacy,” family healthcare services product “JD Family Doctor,” one-stop drug procurement platform “Yaojingcai,” and “Online Hospital.”
The annual report shows that JD Health‘s annual revenue in 2021 was 30.68 billion yuan ($4.6 billion), a year-on-year increase of 58.3%. The net loss reached 1.07 billion yuan, compared with 17.235 billion yuan in the same period in 2020, decreasing by 93.8% year-on-year. As of December 31, 2021, the number of active users of JD Health reached 123 million, a net increase of 33.56 million compared with 2020.
In April this year, domestic media outlet Yicai reported that the pharmaceutical department of JD Health laid off about 20% of its employees, while the online hospital division laid off 60% to 70% of its staff members.