JINGDONG Industrials

JINGDONG Industrials (京东工业) is JD Group's industrial-supply-chain unit, positioning itself as a "supply chain + technology + services" platform for industrial procurement and digital transformation . It traces back to Yunqi Capital's 2017 Series B lead in Gongpinhui (工品汇), a B2B industrial-goods e-commerce player that JD Industrials acquired in 2020 and absorbed as a key channel for SMEs and mid-tail storefronts . By 2024 the platform recorded roughly RMB 28.8 billion in transaction value, carried about 81.1 million SKUs across 80 product categories, and ranked first in China's MRO procurement-services market—nearly triple the scale of its nearest competitor, according to CIC data cited at the time . It listed on the Hong Kong Stock Exchange in December 2025 (ticker 07618) . Yunqi, which repeatedly named JD Industrials among its portfolio flagships, described the listing as a "stage-by-stage harvest" of its "technology empowering industry" thesis .