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Jd.Com Inc (JD) and Wal Mart Stores (WMT) Form Alliance Aiming To Dominate Chinese Market

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A recent 13G filing with the US SEC revealed that Wal Mart Stores Inc (NYSE:WMT) and Jd.Com Inc (NASDAQ:JD) have signed a joint filing agreement, with the idea of offering improved services in the Chinese market, by combining professional retail and e-commerce services. Upon agreement, Wal Mart Stores acquired almost 145 million class A common shares of Jd.com Inc (NASDAQ:JD), which account for 5.9% of the company’s outstanding stock, while Jd.Com acquired ownership of the Yihaodian marketplace platform assets in order to help the brand improve and grow.

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Jd.Com is an online sales company that sells a variety of products, mainly home appliance, general merchandise and electronics from plenty distributors and manufacturers in China, while also offering an online marketplace on which other sellers can market and sell their products. Over the last 12 months, the company’s stock has lost 38.31%. Recently, MKM Partners reiterated its ‘Buy’ rating on Jd.Com’s stock with a price target of $32.00, while Goldman Sachs reiterated its ‘Buy’ rating, but with a little lower price target of $31.00. In its latest financial report for the first quarter of 2016, Jd.Com disclosed a loss per share of RMB0.33, and revenue of RMB53.97 billion ($8.37 billion), which compares to a loss per share of  RMB0.26 and revenue of RMB36.64 for the same quarter in 2015.

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As per our database, at the end of March, 73 investors were long Jd.Com (NASDAQ:JD), down from 78 funds in the previous quarter. Among those investors, Lei Zhang’s Hillhouse Capital Management has the largest position worth close to $3.265 billion, while Chase Coleman’s Tiger Global Management LLC holds the second biggest position, valued at  $1.1661 billion. Some other hedge funds and institutional investors that are bullish include William B. Gray’s Orbis Investment Management, Stephen Mandel’s Lone Pine Capital and Philippe Laffont’s Coatue Management.

Among investors who decided to dump Jd.Com (NASDAQ:JD) are Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, which dropped the biggest position worth an estimated $138 million in stock, and Eric W. Mandelblatt’s fund, Soroban Capital Partners, which sold off a position worth around $137.5 million.

You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Wal-Mart Stores, Inc 0 144,952,250 0 144,952,250 144,952,250 5.9%
Newheight Holdings Ltd 0 144,952,250 0 144,952,250 144,952,250 5.9%

Page 1 of 7 – SEC Filing

 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
SCHEDULE 13G
(Rule 13d-102)
 
Information to be Included in Statements Filed Pursuant to § 240.13d-1(b), (c) and (d)
and Amendments Thereto Filed Pursuant to § 240.13d-2.
Under the Securities Exchange Act of 1934
JD.com, Inc.
(Name of Issuer)
Class A Ordinary Shares, par value $0.00002 per share
(Title of Class of Securities)
47215P106*
(CUSIP Number)
June 20, 2016
(Date of Event Which Requires Filing of this Statement)
  
 
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
o
Rule 13d-1(b)
ý
Rule 13d-1(c)
o
Rule 13d-1(d)
 
*
There is no CUSIP number assigned to Class A ordinary shares of the issuer. CUSIP number 47215P106 has been assigned to the American Depositary Shares (“ADSs”) of the issuer, which are quoted on The NASDAQ Global Select Market under the symbol “JD.” Each ADS represents two Class A ordinary shares of the issuer.
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act.

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