JD Logistics Acquires KY Express for CNY 3 Billion

Industrials Author: Yue Liu Editor: Luke Sheehan Aug 14, 2020 10:18 AM (GMT+8)

KY Express, Cainiao, JD Logistics, JDDJ were selected as unicorns in China's logistics service industry by the Hurun Research Insitute.

Image credit: Chuttersnap/Unsplash

JD.com's subsidiary JD Logistics will acquire KY Express, an express delivery company. The acquisition will be conducted with CNY 3 billion for the current shares and the subscription for new shares issued by KY Express. The transaction will be completed in the third quarter of 2020.

At the same time, JD Logistics reached a strategic cooperation with KY Express. The two will complement each other based on their respective logistics networks and product matrixes, deepen technical collaboration and resource sharing, and provide society with diversified full supply chain services.

"KY Express has obvious advantages in high-efficiency express products, technological innovation and refined management. It is important for JD Logistics to continue to build industry-leading integrated supply chain services and promote technology-driven and opening-up strategies," said Wang Zhenhui, CEO of JD Logistics.

Established in 2007, KY Express launched three time-sensitive products, namely same-day delivery, next-day delivery, and two-day delivery, as well as special service models such as same-city same-day, same-city next-day, land transportation, and fresh food delivery.

In the 'Hurun China Area Unicorn Index 3Q 2018' and 'Hurun China Area Unicorn Index 1Q 2019' released by the Hurun Research Institute, KY Express was listed twice, with a valuation of CNY 20 billion.