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BEIJING - JD.com, Inc. (NASDAQ:JD, HKEX:9618) announced today the completion of its CNY10 billion senior unsecured notes offering in offshore transactions outside the United States, according to a press release statement. The e-commerce giant, with a market capitalization of $38.85 billion, currently trades at $28.34, which InvestingPro data suggests is undervalued compared to its Fair Value analysis—placing it among opportunities on the Most Undervalued stocks list.
The offering consists of CNY7.5 billion of 2.05% notes maturing in 2031 and CNY2.5 billion of 2.75% notes maturing in 2036. The notes were offered to certain non-U.S. persons under Regulation S of the U.S. Securities Act of 1933.
The company stated it intends to use the net proceeds for general corporate purposes, including repayment of existing debt and interest payments. According to InvestingPro Tips, JD holds more cash than debt on its balance sheet, maintaining a conservative debt-to-equity ratio of 0.48. Investors seeking deeper insights can access JD’s comprehensive Pro Research Report, one of 1,400+ available reports transforming complex data into actionable intelligence.
The notes were not registered under the Securities Act or state securities laws and cannot be offered or sold in the United States or to U.S. persons except under specific exemptions.
Listing of the notes on The Stock Exchange of Hong Kong Limited is expected to become effective on April 13, 2026.
JD.com describes itself as a supply chain-based technology and service provider operating in China’s e-commerce market.
In other recent news, JD.com reported its fourth-quarter revenue, which rose by 1.5% to RMB352 billion. This performance was below China’s overall retail sales growth of 2.7% year-over-year, excluding auto and online retail sales growth of 5.8%. Despite these challenges, Benchmark reiterated a Buy rating with a $38.00 price target, noting that JD.com delivered a resilient quarter with revenue modestly ahead of expectations. Susquehanna maintained a Neutral rating but lowered its price target to $30, citing profitability pressures due to investments in new business lines like food delivery.
Deutsche Bank also adjusted its outlook, reducing the price target to $36.00 while maintaining a Buy rating, highlighting margin pressures. Mizuho expressed optimism by reiterating an Outperform rating and a $41.00 price target, pointing to JD.com’s efforts to narrow losses and target positive non-GAAP net income growth. BofA Securities lowered its price target to $33 from $36, maintaining a Buy rating, and noted that JD.com ended fiscal year 2025 with 730 million annual active customers and RMB1.31 trillion in revenue. The company’s non-GAAP net profit was RMB27.0 billion, reflecting a 2.1% margin.
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