Chinese e-commerce giant JD.com plans $5bn share buyback amid consumer downturn concerns.

JD.com, the Chinese e-commerce giant, plans to buy back $5bn worth of its shares amid concerns over a potential Chinese consumer downturn. The company will repurchase its stock between September 2022 and August 2027, aiming to alleviate investor concerns following Walmart's sale of its stake in JD.com and PDD Holdings' dim outlook for the retail industry in China. This move comes as JD.com adopts a low-pricing strategy on its platforms, Pinduoduo, and Temu, to attract cost-conscious shoppers during economic volatility.

August 26, 2024
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