Richard Liu, the founder of Chinese e-commerce giant JD.com, announced in an email to all employees on November 22 that starting from January 1, 2023, the cash salary of senior managers will be reduced by between 10% and 20%.
On November 16, Tencent released its financial report for the third quarter of 2022, and announced its decision to distribute most of its shares in Meituan, which will be completed in March next year. Tencent President Martin Lau has resigned as a non-executive director of Meituan.
Singles' Day culminated in a frenzy of promotions on Friday, although lackluster consumer activity may reduce some of its shimmer.
Taobao and JD.com, two of China's leading e-commerce platforms, have recently announced the resumption of links connecting them with short video platform Kuaishou, mainly aiming at the annual Double 11 Shopping Festival.
News that Chinese e-commerce giant JD.com's international business operations will undergo major adjustments has recently spread within the company. Certain business units in Europe and Southeast Asia will be most affected by the changes.
On October 11, Meituan Select, a community group buying platform under Chinese tech firm Meituan, adjusted its brand positioning to a "supermarket with next-day delivery services."
On October 12, Tencent’s share price fell below HK$250, hitting a new low since November 2018. It fell more than 60% from its historical high at the beginning of 2021 and now only has a market value of only HK$2.43 trillion.
Following JD Logistics' acquisition of Deppon, its performance will soon be integrated into JD.com's system. Accordingly, Deppon's senior management team has undergone a large-scale adjustment.
Dada Group, China's leading local on-demand delivery and retail platform, on August 22 released its unaudited results for the second quarter of fiscal year 2022 and announced changes to certain executive positions and its board composition.
On July 14, Chinese e-commerce firm JD.com announced that its subsidiary, JD Intelligent Industry Development Group, had completed its compulsory acquisition of China Logistics Property Holdings (CNLP).
Last Friday, a Minnesota court held a four-hour hearing in which Liu Jingyao, the accuser, asked for punitive damages from both Richard Liu and Chinese e-commerce giant JD.com. She attended the hearing in person.
After successive reductions of more than HK$440 million ($56.06 million) worth of JD Health shares in late April and early May, JD.com founder Richard Liu on June 17 reduced his holdings of about $279 million worth of the firm's shares.
Chinese e-commerce platform JD.com has recently begun to undergo a new round of organizational restructuring. Jingxi Business Group under JD Retail will be broken up within this month.
Xin Lijun, the CEO of JD Retail, said in an interview that JD.com was studying the possibility of entering the field of food delivery.
China's leading panel maker BOE and e-commerce giant JD.com officially announced on Monday the start of a new cooperation.
Chinese e-commerce company JD.com will attempt to develop a food delivery business. Under the arrangement, merchants will operate through the JD Daojia app.
JD.com's community group purchasing platform, Jingxi Pinpin, is further shrinking its business lines and may only retain operations in the cities of Beijing and Zhengzhou.
Chinese e-commerce giant JD.com released its "Environment, Society and Governance Report 2021" on Tuesday, outlining the company’s progress last year in the areas of developing green supply chains, boosting the real economy, and more.
Chinese e-commerce giant JD.com has recently completed a makeover of its listed categories, while the company's existing Fashion Home Business channel has been upgraded to the New Department Store channel.
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.