Li Feng And Jingdong Cooperate To Speed Up The Development Of Digital Supply Chain

Recently, Li & Fung announced on July 31 that it would accept Jingdong's strategic investment of US $100 million (equivalent to about HK $780 million) at HK $1.25 per share to further develop its digital supply chain. The Feng family will continue to retain control of the company with 60% of the voting shares.

Li & Fung also plans to develop its business in China's domestic market through its global network and digital supply chain in cooperation with JD, according to the announcement. Now, with JD joining, Li & Fung will be able to use its scale and digital capabilities to continue its journey to the end digital supply chain that creates the end.

Recently, on March 20, 2020, Li & Fung released its 2019 performance report. Despite the impact of the epidemic, the logistics business has achieved high revenue growth and maintained profitability, the report said. Due to strong demand for domestic logistics services, turnover increased by 3.5% to US $1.2 billion, while cop increased by 1.0% to US $94 million. But core operating profit fell 22.9% to $228 million.

On May 27, 2020, Li & Fung announced its delisting from the stock exchange of Hong Kong, marking the completion of its privatization process. Facing the impact of new crown epidemic on retail supply chain, Li & Fung's "future supply chain" is the most important target.