“Science and Technology Innovation Board Daily”, December 6 (Reporter Huang Xinyi) Today, JD Logistics announced on the Hong Kong Stock Exchange that it intends to acquire the remaining 36.43% equity interest in Cao Express, with a total consideration of no more than 6.48 billion yuan.

According to reports, Kuayue Express is a non-wholly-owned subsidiary of JD Logistics, and JD Logistics holds about 63.57% of the shares. After the third phase of delivery, JD Logistics will hold 100% of the equity interest in Express Shipping.

Chuyue Express was founded in 2007. It has three time-sensitive products: same-day delivery, and next-day delivery, as well as service models such as same-day, same-day, same-city next-day, land freight, fresh express, and international business. The company has 70,000+ employees, 28,000+ own transport vehicles, and an average daily delivery volume of 54,000+ tons.

According to reports, JD Logistics has further reached a comprehensive strategic cooperative relationship with Cross Express. After this cooperation, Kuayue Express will continue to maintain the independent operation of the brand and team. Founder Hu Haijian will continue to serve as Chairman and CEO of Kuayue Express, responsible for the company's daily operations, and the strategy and main business will remain unchanged.

As early as 2020, JD Logistics reached a strategic cooperation with Leyue Express. In August 2020, JD issued an announcement stating that JD Logistics will use 3 billion yuan to acquire current shares of Kuayue Express and to subscribe for new shares already issued by JD Express. At the time, JD Bohai, a strategic investment platform under JD Logistics, acquired 55.1% of the shares of Yuyao Express.

In November 2021, JD Logistics was fined 0.5 million yuan by the General Administration of Market Regulation for violating the Anti-Monopoly Law by the General Administration of Market Regulation due to the acquisition of shares in Cross-Express Shipping. Then, in May 2022, JD Logistics once again acquired shares in Cao Yue Express. According to the Tianyancha App, JD Logistics currently holds 63.57% of the shares in Kaiyue Express.

Leyue Express is mainly deeply involved in B-side enterprise customers. Its aviation resources, trunk line network, etc. are a strategic complement to JD Logistics's expansion of the B-side market. According to information, Cross Express has 13 air cargo jets, including all Boeing B-757 freighters, and has reached strategic partnerships with more than 10 major domestic airlines, including Air China, China Southern Airlines, and China Eastern Airlines. The acquisition spans express delivery, which helps JD Logistics to make up for shortcomings in the ecological layout and seize the industry market.

Zhuang Shuai, a visiting consultant of the China Chain Management Association and an expert in the retail e-commerce industry, told the “Science and Technology Innovation Board Daily” that for JD Logistics, the key point is to solidify the complete logistics system, including small logistics, large logistics, and cold chain logistics. In terms of 2C and 2B businesses, self-construction and acquisition are being promoted separately. Furthermore, express delivery overseas is also one of the important development directions of JD Logistics.

The “Science and Technology Innovation Board Daily” reporter noticed that in the past month, JD Express International has connected delivery services to more than 30 countries around the world, and its business footprint has expanded to countries in Oceania, South America, and North America. By the end of 2025, JD Logistics plans to increase the global overseas warehouse area by more than 100%. At the same time, it will build more bonded warehouses and direct mail warehouses to further enhance the coverage of international express delivery. It is expected that consumers in nearly 80 countries around the world will be able to receive JD Express from China during the year.