News Snapshot:
Investors looking at JD Logistics’ initial public offering (IPO) will be keen to know how fast the Chinese firm can turn around its money-sapping business as rivals engage in cutthroat price war to grab market share. The firm, which offers an integrated supply chain and logistics services to outside companies, predicts losses to snowball this year from 4 billion yuan (US$622 million) in 2020, according to its preliminary prospectus, and 5 billion yuan in the preceding two years. The Beijing-based unit of JD.com last month won approval from the Hong Kong stock exchange’s listing committee to kick on with its...
