Research Desk Line-up: 58.com Post Earnings Coverage
LONDON, UK / ACCESSWIRE / September 18, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for JD.com, Inc. (NASDAQ: JD), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/'symbol=JD. The Company announced on September 15, 2017, along with leading Chinese fintech Company, JD Finance; Thailand's largest retail conglomerate, Central Group; and JD.com's strategic partner for the Indonesian ecommerce business, Provident Capital, an aggregate investment of up to $500 million to establish two joint ventures in Thailand spanning across ecommerce and fintech services. Under the terms of the agreement, half of the investment would be made by Central Group, while the other half would be remunerated jointly from JD.com, JD Finance, and Provident Capital. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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Discover more of our free reports coverage from other companies within the Internet Information Providers industry. Pro-TD has currently selected 58.com Inc. (NYSE: WUBA) for due-diligence and potential coverage as the Company reported on August 20, 2017, its unaudited financial results for Q2 2017 which ended on June 30, 2017. Tune in to our site to register for a free membership, and be among the early birds that get our report on 58.com when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on JD; also brushing on WUBA. Go directly to your stock of interest and access today's free coverage at:
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The Announcement
JD.com has agreed to deliver its extensive expertise in technology, ecommerce, and logistics to the ecommerce joint venture. Also, the fintech services joint venture is set to benefit from JD Finance's deep knowledge in the financial technology sector, including its experience building out easy-to-use fintech services in developing markets, while leveraging artificial intelligence, cloud computing, and other industry-leading technology capabilities.
Across both the ventures, Central Group will deliver access to its immense retail resources, including its physical store network, which would serve as key omni-channel and payment locations, the wealth of brand and merchant relationships, and its retail behavior insights from its immensely popular customer loyalty program, "The 1 Card". In an attempt to accelerate the growth of the ventures, Central Group will open multiple stores on the ecommerce platform for its departmental stores and key retail chains, and also for select brand-owned and operated by Central Group.
JD.com stated that Thailand's large population and advanced infrastructure, inclusive of strong national logistics networks, offer potential for both ecommerce and fintech services. The Company has been working with the country's retail conglomerate, with a massive shopping mall and department store network, offering JD.com a huge competitive advantage as it expands further into Southeast Asia. According to the Company, Thailand's mobile-driven population, with its increasing consumer spending power, means that ecommerce is set to grow expansively where this partnership is set to capture customers as they migrate online.
Company Growth Prospects
Recently, on August 14, 2017, JD.com announced its Q2 FY17 results for the three-month period ended June 30, 2017. The Company also announced the deconsolidation of JD Finance as a result of the reorganization on principal terms. JD.com reported net revenues of $13.7 billion, up 43.6% y-o-y. The Company's annual active customer accounts advanced by 37% to 258.3 million in the 12-month period ended June 30, 2017, from 188.1 million in the 12-month period ended June 30, 2016.
During Q2 FY17, the Company expanded its product offerings through the cooperation with multiple international brands. Also, in July 2017, JD.com and Walmart announced the expansion of their collaboration, pursuant to which the Companies would further integrate their platforms and customer resources in China.
Last Close Stock Review
JD.com's share price finished last Friday's trading session at $44.91, slightly down 0.75%. A total volume of 16.87 million shares have exchanged hands, which was higher than the 3-month average volume of 12.11 million shares. The Company's stock price soared 17.66% in the last three months, 42.30% in the past six months, and 71.87% in the previous twelve months. Additionally, the stock skyrocketed 76.53% since the start of the year. The stock currently has a market cap of $65.63 billion.
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