(Yicai Global) March 31 -- JD.Com’s stock price jumped after two subsidiaries of China’s second-biggest online retailer applied to go public in Hong Kong.

JD.Com [HKG: 9618] closed 5.4 percent up at HKD172 (USD21.91) a share in Hong Kong today. In New York, the company’s stock [NASDAQ: JD] surged 7.8 percent to USD44.40 yesterday.

Jingdong Industrial and Jingdong Property filed for initial public offerings with Hong Kong Exchanges and Clearing late yesterday. They did not disclose their offer prices or fundraising ambitions.

Beijing-based JD.Com would retain at least 50 percent ownership of each unit, their parent company said the same day. The spin-offs and listings will allow investors to assess performance and potential, better reflecting their value and enhancing their financing capabilities, it added.

The move comes just days after rival internet giant Alibaba Group Holding unveiled its biggest organizational shakeup since it was set up 24 years ago. Alibaba has split itself into six business groups and said it will consider gradually listing five of them.

On a call with analysts yesterday, Chief Financial Officer Toby Xu said that after they are taken public Alibaba would “continue to evaluate the strategic importance of these companies” and “on that basis, we will decide whether or not to continue to retain control.”

Jingdong Industrial and Jingdong Property are not the first units JD.Com has spun off for listing. Dada Nexus went public on Nasdaq in June 2020, JD Health International in Hong Kong in December 2020, and JD Logistics in Hong Kong in May 2021.

Founded in November 2019, Jingdong Industrial has become a leading industrial supply chain technology and services provider. The firm reported a net loss of CNY1.3 billion (USD189.7 million) and revenue of CNY14.1 billion (USD2.1 billion) last year.

Jingdong Property was established in January 2012 as the major developer and operator of JD.Com’s logistics infrastructures. It had 219 logistics parks, 13 commercial parks, and four data centers to oversee as of the end of 2022 and had an annual net profit of CNY2.2 billion on revenue or CNY2.3 billion.

Editor: Futura Costaglione