JD and D.Phone recently signed a formal investment agreement, under which JD will acquire about 8.98% shares of D.Phone.
It is said that JD will subscribe 65.793 million D.Phone shares at the price of HKD3.25 per share and the total price will be about HKD214 million.
According to D.Phone, the company will use the new capital in goods procurement and daily operation.
Meanwhile, the two parties reached an initial strategic cooperation intention and they will implement full cooperation in finance, logistics, used phone, insurance, and cloud service sectors.
Representatives from JD and D.Phone said that the two parties will contribute their respective advantages and play synergistic effect to promote the realization of unbounded retail strategy. They will work together to create new intelligent shopping experience and jointly embrace the 5G era.
Public files show that D.Phone is the largest offline mobile communications chain retailer in China and its network covers 3,000 stores in over 30 provinces across China.