JD.COM Mathematics Department will withdraw its application for listing on the Science and Technology Innovation Board. What happened behind it?

There are two main reasons why JD.com withdrew its application for listing in science and technology innovation board. First, because the regulatory environment of financial technology companies is becoming stricter in an all-round way, JD.COM's related businesses need to be adjusted due to the new regulations on online small loans. Second, JD.COM's business scope and service model have changed recently, and its financial attributes have weakened, so it can't continue to be listed on the Science and Technology Innovation Board.