E-commerce giant JD.com’s (NASDAQ: JD; HKEX: 9618) healthcare spinoff JD Health has received green light from the Hong Kong Stock Exchange for its initial public offering that could raise at least USD 3 billion, according to a November 15 filing.
The company reported total revenue of USD 1.6 billion for 2019, the largest of its kind. Rival Ping An Good Doctor (HKEX: 1833) and Ali Health, the affiliates of insurance giant Ping An and e-commerce behemoth Alibaba, reported USD 732 million and USD 770 million revenue, respectively, for the fiscal year 2019.
JD Health also runs the largest online retail pharmacy in China with a market share of 29.8% in 2019, it said in the prospectus, citing Frost & Sullivan research.
JD Health accumulated 72.5 million annual active users as of June 30, 2020, while Ping An reported 346.2 million registered users for the first half of 2020.
This article is part of KrASIA’s “Key Stat” series, where KrASIA picks and presents the most significant figures of the day’s technology and business world.