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JD.com reveals its health subsidiary is valued at USD 7 billion amid Q3 earnings release

It booked RMB 134.8 billion (USD 118.9 billion) in net revenue in the third quarter of this year, up 28.7% year-on-year.

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China’s e-commerce giant JD.com announced on Friday that it booked RMB 134.8 billion (USD 118.9 billion) in net revenue in the third quarter of this year, up 28.7% year-on-year.

The company posted RMB 612.3 million (USD 85.7 million) in net income, down from the net income of RMB 3 billion in the same period last year.

After releasing these earnings, JD.com disclosed that JD Health, a majority-owned subsidiary of the company, completed its series A preferred share financing in November, with a valuation of approximately USD 7 billion.

The company added that over the past few years, JD Health has built a comprehensive “Internet + healthcare” ecosystem, providing pharmaceutical and healthcare products, internet healthcare, health management, and intelligent healthcare solutions to customers. JD.com added that the company has grown to become China’s largest online pharmacy by revenue.