Business Chief APAC+ANZ Magazine December 2020 | Page 86
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JD . com & Kuayue Express
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August 2020 saw JD . com acquire Kuayue Express in a US $ 43mn deal , fueling its ambitions to be the leading supply chain-based technology and service provider . As part of the deal JD . com ’ s subsidiary JD Logistics acquired a controlling interest in Kuayue-Express . “ Kuayue Express is a reliable delivery services provider and industry leader in express courier services with innovative technology and advanced operations . Collaborating with Kuayue Express advances our integrated supply chain management , technology initiatives and service expansion to third party merchants . We will leverage our respective advantages and the synergy the collaboration creates to enhance the client experience and increase overall supply chain efficiency for JD and society at large ,” commented Zhenhui Wang , CEO of JD Logistics . DATE OF MERGER 08 / 13 / 2020