(Yicai) Nov. 25 -- Jingdong Industrials, the supply-chain technology unit of Chinese e-commerce giant JD.Com, has passed the listing hearing to go public on the Hong Kong Stock Exchange. Securities Times reported that insiders said the company is seeking to raise up to USD500 million.

The proceeds of the initial public offering will be used to enhance JD Industrials’ supply chain capabilities, expand its business reach, conduct strategic mergers and acquisitions, and support its daily operations to achieve continuous growth and competitive advantages in the industrial e-commerce industry, according to a prospectus filed on Nov. 23.

JD Industrials filed for an IPO three times, in March 2023, September 2024, and March 2025, but all attempts failed due to the expiration of the validity period. If it succeeds this time, JD Industrials will become the fourth company under JD.Com to get listed after JD Logistics, JD Health International, and Deppon Logistics.

Liu Qiangdong is JD Industrials’ largest shareholder and controller, with 82.5 percent of the voting rights through multiple entities, the prospectus showed. Other shareholders include the Abu Dhabi Investment Authority, the Abu Dhabi government, HongShan Capital Group, and Beijing Xindongli Investment Fund.

JD Industrials will disclose its IPO issue price on Dec. 8 and get listed on Dec. 11, Securities Times reported.

In the first six months of the year, JD Industrials reported an operating revenue of CNY10.3 billion (USD1.5 billion) and a net profit of CNY451 million (USD63.6 million), according to the prospectus. Last year, the two figures were CNY20.4 billion and CNY762 million, respectively.

JD Industrials mainly provides enterprises with maintenance, repair, and operations, bill of materials, and supply chain services. MRO includes standard and professional products, such as security, cleaning, tools, chemicals, and instruments required for daily operations and maintenance. BOM includes raw materials and components, such as electronic components, fasteners, and seals used in the manufacturing process.

JD Industrials was China’s largest MRO procurement service provider by transaction volume last year, surpassing the second-ranked firm by three times, according to data from China Insights Consultancy.

Editor: Futura Costaglione