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On September 11, the Exchange accepted the application for listing on the Science Innovation Board of JD Digital Technology.

This is Liu Qiangdong’s second listed company after JD. Liu Qiangdong is the A large shareholder, holding 8.86%of the shares and 74.77%of the voting rights.

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JD The original intention of the establishment of Digital Science is to solve the JD e-commerce platform consumers and The loan financing problem of small and micro enterprises later became larger, and their business extended to all major areas of finance.

It is stated in the prospectus that in the field of financial services, companies rely on commercial banks, insurance companies, fund companies, trusts, securities companies, and other financial institutions Cooperation.

The prospectus also mentions one of its competitors, Ant Financial. In fact, apart from the difference in payment business, other financial service businesses are basically similar to Alipay.

Alipay was originally set up to solve the credibility problem between e-commerce platforms and consumers. Now it has established brand credibility and popularity. Selling traffic.

To put it bluntly, everyone is doing traffic business, and the platform acts as an intermediary between customers and financial institutions.

For a simple example, you buy funds, insurance, and deposits from the platform. The platform charges service fees for the costs incurred.


The revenue structure of Jingshu mainly consists of three parts:digital solutions for financial institutions, digital solutions for merchants and enterprises, and digitalization for governments and other customers. The solutions contributed revenues of 4.284 billion, 5.4 billion, and 575 million respectively.

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As of the first half of 2020, the company has recommended more than 2 million deposit users, more than 22 million personal and small and micro business loan users for financial institutions, and contributed to the issuance of nearly 10 million credit cards. .

A total of more than 67 million wealth management product users have been recommended for fund companies and securities companies, and over 45 million insurance users have been recommended for insurance companies.

1, Jingdong gold bullion is a loan product , The maximum loan amount is 200,000. During the reporting period, the number of active users were 3.0208 million, 6.7731 million, 15.2057 million, and 14.241,700. In the past three years compound growth rate It is 124.36%.

According to the loan business income promoted by the platform, financial institutions will pay a certain percentage to the JD Digital Technology pays the technical service fee.

In the reporting period, the revenue of science and technology services realized was 920 million yuan, 2.088 billion yuan, 3.66 billion yuan, and 2.636 billion yuan, with compound growth in the past three years The rate is 99.41%.

2, credit card business, that is, you can apply for bank credit cards through the platform. During the reporting period, the number of cards issued was 1,832,900, 1,554,100, 2,898,800, and 1,882,800, respectively, achieving revenues of 48,575,800, 62,989,500, 120, and 125 million.

3, insurance technology business, that is, you buy insurance through the platform. The company currently has established cooperative relationships with 100 insurance companies. During the reporting period, the premium income generated was 276 million yuan, 537 million yuan, 748 million yuan, and 480 million yuan, respectively. Insurtech revenues were 59 million yuan and 146 million yuan respectively. , 458 million yuan and 335 million yuan.

4. As for the asset management technology business, readers of me should be able to understand, that is, you buy funds and other financial products through the platform, Jingdong Digital Science will collect service fees and technical service fees.

5, Jingdong white bar, which is When you buy something on the Jingdong mall, you can directly pay in installments through white bars. During the reporting period, the number of active users were 24,927,300, 35,843,600, 57,806,100, and 55,446,100.

This business Jingdong Digital Science wants to earn a share of technology service fees and interest. During the reporting period, the income of white bar products was 1.473 billion, 2.734 billion, 3.210 billion and 17.94 Billion.

6. Smart marketing solutions are to provide advertisers with smart point selection and placement services, earn advertising revenue, and provide media owners with points Software and hardware transformation services, charging hardware sales and software service fees. Collecting money from both sides is much better than the model of Focus Media.


Digital technology must be the future trend. Take the outbreak of this epidemic in 2020 as an example. Without strong big data management, the prevention and control of the epidemic is very difficult.

JingdongDuring the epidemic, Mathematics provided Beijing and other 13 provincial and municipal governments with big data traceability, analysis and early warning, and epidemiological investigation information for high-risk personnel.

Provide intelligent robots to 302 medical institutions and government departments nationwide Service, emergency installation of more than 700 contactless smart cash registers for more than 200 shopping malls and supermarkets.

It feels like eating and sleeping cannot be digitized, other living facilities Services are on the road to digitalization.