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Xiao Jun, Vice President of JD.com and President of JDX Department, has recently departed from the company. JDX Department is the technical lab of JD.com, responsible for studying smart warehousing and logistics systems and unmanned technology.
The original shareholders He Lili and Chen Wei have withdrawn, and the new shareholder J&T Express now holds 100% of shares.
J&T Express is reportedly negotiating with Tencent Holdings to potentially raise $1 billion. Tencent announced on Wednesday that the rumor was not true.
China's State Post Bureau reported on Tuesday that between January 1 and 3, 920 million express parcels were collected, a year-on-year increase of 22.6%.
J&T Express and BEST Inc. reached an agreement on Friday to acquire the latter's express delivery business in China at a price of $1.1 billion.
According to media reports on Wednesday, J&T Express has completed a C1 round of financing worth $1.735 billion, bringing its valuation to $19.77 billion. J&T Express denied the report.
On October 28, SF Express (Group) Co., Ltd. reported its 2021 Q3 results, showing that its revenue in the period totaled 47.517 billion yuan ($7.43 billion), a year-on-year increase of 23.53%.
ZTO Freight completed a B round of financing exceeding $300 million. The fresh funds will be used to increase investment in information system R&D, new infrastructure construction and professional talent.