Jingdong Logistics is the third subsidiary of JD.COM Group to conduct IPO. The other two companies are JD.COM Digital Branch, which submitted a prospectus on the Science and Technology Innovation Board in September 2020, and JD Health, which was listed on the Hong Kong Stock Exchange in February 2020.
Since the independent operation of Jingdong Logistics on 20 17, the first financing record was in February of 20 18. The $2.5 billion investors include Gaoying Capital, Sequoia China, China Merchants Group and Tencent. The listing gambling agreement behind this financing requires Jingdong Logistics to complete the listing within three years, and the deadline is 202 1 year in March.
Nowadays, although it is a step-by-step procedure for Jingdong Logistics to submit an application for offering shares to the Hong Kong Stock Exchange, it is also because of its own achievements. Along the way, although it has been wearing a loss-making hat, it is not as huge as SF, but Jingdong Logistics has always adhered to the initial intention of providing customers with a better experience, constantly promoting logistics layout and continuously increasing technology research and development applications. Its development trend should not be underestimated, which is mainly characterized by a rapid increase and a decrease. The reason is not only the early layout of JD.COM in the logistics industry, but also the new technologies and concepts such as big data, artificial intelligence and cloud computing are constantly playing an important role.
For heavy asset industries such as logistics, many internet giants are discouraged, because logistics, warehousing, vehicles, personnel and other links need to invest a lot of money. Once there is a liquidity risk, it will even drag down the main business of e-commerce. Jingdong Logistics has suffered losses for more than ten years, which has caused many questions from the outside world. However, JD.COM was unmoved and persevered, constantly optimizing its operation and increasing its technical services. With the help of new technologies such as big data, artificial intelligence and cloud computing, its logistics scale system has been continuously strengthened.
Jingdong Logistics has established six highly collaborative networks, namely warehousing network, comprehensive transportation network, distribution network, bulky network, cold chain network and cross-border network. By September 30, 2020, more than 800 warehouses have been operated, with a total management area of about 20 million square meters (including the management area of Yuncang ecological platform), and 28 "Asia No.1" large-scale intelligent warehouses have been operated in the national 18 cities.
Accumulated soil becomes mountains, and the wind and rain are prosperous; The water drops merged into the ocean and the dragon was born. It is based on this scale of logistics that JD.COM has the ability to deepen its services. In this prospectus, Jingdong Logistics has positioned itself as "the largest integrated supply chain logistics service provider in China", thus forming differentiated competition with its peers in positioning, implementing "integrated warehousing and distribution services" in specific businesses, and devoting itself to providing customers with integrated supply chain logistics services in warehousing and distribution services, bulk commodity logistics services and logistics technical services.
Judging from the actual performance, Jingdong Logistics is making efforts to move forward in the direction of its own positioning. From the comparison between the third quarter and the first quarter in 2020, the revenue scale of SF Express business with a market value of more than 500 billion is three times that of Jingdong Logistics, but from the perspective of growth rate, the revenue growth rate of Jingdong Logistics and other businesses below 50 billion is 73%, far exceeding that of SF Express's 34.04%.
As early as the beginning of reform and opening up, it was pointed out that science and technology were the primary productive forces. It is undeniable that the growth rate of Jingdong's logistics revenue also benefits from the continuous innovation of its logistics technology concept.
At the JD.COM Global Science and Technology Explorers Conference held in June 5438+065438+ 10, 2020, JD.COM explained the new concept of "JD" for the first time. COM Digital Intelligent Social Supply Chain ",which will connect and optimize all aspects of social production, circulation and service with digital intelligent technology, aims to build a new infrastructure, reduce social costs and improve the operational efficiency of all walks of life through its own digital capabilities.
Previously, the concept of "5G Intelligent Logistics Park" advocated and practiced by Jingdong Logistics, with the innovative 5G technology pioneered by Beijing Asia No.1, promoted the integration of all people, machines, vehicles and equipment with its high intelligence, independent decision-making and integration, including the overall scheduling and management of automatic driving, automatic sorting, automatic inspection and human-computer interaction, which not only built a typical application scenario of 5G technology in intelligent logistics, but also significantly improved the operational efficiency of express delivery. The customer's feeling is that Jingdong Logistics is "faster and better". This experience has enabled Jingdong Logistics to gain many repeat customers, and its own "private domain flow" has been consolidated and continuously expanded, which has promoted its revenue growth.
Jingdong Logistics, which tasted the sweetness of technology, did not stop. 2021654381October 26th, Jingdong Logistics RFID intelligent warehousing solution was fully applied in Chongqing Yubei Automation Warehouse, and this technology will be popularized and applied in hundreds of large warehouses including Asia No.1. This indicates that Jingdong Logistics has achieved a new breakthrough in the field of large warehouse automation under the guidance of the concept of "controlling complexity with simplicity", which can improve the inventory efficiency in the warehouse/KLOC. From the previous "waiting for express delivery" to the current "waiting for express delivery", this improvement in operational efficiency will definitely further increase its revenue growth rate.
As early as 20 19, before submitting the prospectus, jingdong logistics formally proposed the "supply chain industry platform (OPDS)" to provide integrated supply chain services for industries with different attributes, and actively promote the digital transformation and technical empowerment of the supply chain to the industry. At the beginning of 2020, the founder Liu redefined the group in an internal letter, that is, from a "technology service company based on retail" to a "technology and service enterprise based on supply chain", which shows the strategic position of technology services.
On this basis, in June, 2002 1,1,JD.COM released the White Paper on Technology Restructuring Social Supply Chain-Future Technology Trends, which can be regarded as its overall planning and strategic foresight for future logistics: in the next decade, artificial intelligence, Internet of Things, blockchain, autonomous system and next generation computing will promote the 5D attribute. That is, the key technologies of Deep Tech, Deep Connectivity, Deep Data, Deep Intelligence and Deep Purposes. In these five key technologies, JD.COM will fully radiate the development of the whole society from the industrial side with the influence of digitalization and intelligence, and open up all links of production, circulation and service in the supply chain by connecting intelligent technologies and industries.
Generally speaking, from 20 18 to 1 1 in the third quarter of 2020, the cumulative technology investment of Jingdong Logistics has reached 4.6 billion, accounting for 3.4% of the total revenue on average, which is not only ahead of peers, but also shows a growing trend.
In terms of technological innovation, as of June 5438+February 3, 20201,Jingdong Logistics has owned more than 4,400 patents and computer software copyrights (including applications), of which more than 2,500 involve automation and driverless technology, covering all aspects of logistics such as warehousing, sorting, transportation, distribution and customer service, including artificial intelligence, deep learning, autonomous driving, formation operation and customer service. In 20021year, Jingdong Logistics was selected as the highest award for algorithm application in the world-Franz Odeman Award for its self-developed unmanned warehouse algorithm application.
In terms of technical practice, Jingdong Logistics uses its own warehouse management system (WMS), transportation management system (TMS) and order management system (OMS) to support customers' supply chain digitalization. Jingdong Logistics has the first unmanned warehouse and the first 5G logistics park, which has realized the large-scale landing of express robots and operated 28 "Asia No.1" intelligent logistics parks, fully demonstrating the JD.COM characteristics of its "intelligent logistics". For example, its newly-built Zhengzhou Asia No.1, relying on technologies such as 5G, Internet of Things, artificial intelligence and intelligent equipment, has achieved a five-fold improvement in sorting efficiency, with an average daily order processing capacity of one million. Since 20 16, jingdong logistics has gradually completed the three-step route of intelligent express car closed park, socialized road and large-scale team operation, constantly refreshing customers' new logistics experience. During the 2020 epidemic, JD.COM. The invisible advantages of COM in supply chain and logistics have been rapidly enlarged, and materials can be quickly mobilized nationwide and delivered to the front line in the first time. This is the short board of peers, but it is the biggest moat of Jingdong Logistics.
A tree is not a forest. Jingdong Logistics understands this truth. In addition to deepening its own technical attributes, Jingdong Logistics also pays attention to cultivating helpers and supporting "allies". While technology empowers the entire supply chain, JD.com Logistics has built an open supply chain solution platform with its partners in China and other industries around the world, and achieved complementary advantages in multimodal transport, last mile delivery, warehousing, cross-border and cold chain services to meet customer needs.
20 18, 18, JD.COM led Ma Lu Innovation Company, an intelligent warehousing solution provider, to raise 60 million yuan in Series A financing. Since the establishment of 20 15, we have been deeply involved in the research and development of the underlying technologies and core modules such as robots, AI, big data and algorithmic Internet of Things, and have successively launched a number of AMR/AMR products and software systems, which have greatly promoted JD.COM. Meanwhile, JD.COM. Dada invested by COM is also outstanding in "short-distance crowdsourcing platform+instant retail". With the help of these "younger brothers", Jingdong Logistics is more confident to impact the stock market.
In addition, the cloud warehouse model innovatively launched by Jingdong Logistics opens its own management system, planning ability, operation standards and industry experience in the cloud, so that other small and medium-sized logistics enterprises can fully enjoy the technology, standards and brands of Jingdong Logistics and improve their service capabilities. By the end of 65438+February 3, 20201day, Jingdong Logistics has operated more than 1400 cloud warehouses. In terms of international logistics services, through cooperation with international and local partners, Jingdong Logistics has covered more than 220 countries and regions. This open technical mind has built a logistics ecology with JD.COM characteristics, which not only enhances its own influence, but also accelerates the continuous spread and coverage of its supply chain tentacles.
At present, the digital intelligent social supply chain in JD.COM has achieved initial application results in the technical empowerment of five scenarios: retail, health, logistics, finance and city. Among them, in the field of health, the medical and health supply chain of digital intelligent society effectively links the medical supply chain, Internet medical care, health management, smart medical care and other business sectors.
In recent years, although some logistics enterprises have increased their investment in technology, Jingdong Logistics has more obvious advantages because of its earlier layout, greater investment in technology and capital. Based on the underlying technologies such as 5G, artificial intelligence, big data, cloud computing, and Internet of Things, the capabilities of Jingdong Logistics in automation, digitization, and intelligence have been continuously improved. On the one hand, the efficiency of storage, transportation, sorting and distribution is greatly improved through automatic handling robots, sorting robots and intelligent express trucks. On the other hand, we independently research and develop warehousing, transportation and order management systems to support the overall digitalization of customer supply chains. Jingdong Logistics realizes decision-making in the fields of sales forecast, commodity distribution planning and supply chain network optimization through "intelligent brain", which improves operational efficiency, reduces logistics costs and enhances customer experience.
JD。 COM's attention and investment in technology is one of the important reasons for the cliff-like pressure drop of Jingdong Logistics. In the first three quarters of 2020, the net loss of Jingdong Logistics was1/kloc-0.7 million yuan, while the net losses in 20 18 and 20 19 were 2.8 billion yuan and 2.2 billion yuan respectively. From more than 2 billion to the early10 million, this cliff-like decline has also made Jingdong Logistics further realize the great role of new technologies.
Although some analysts believe that the loss of Jingdong Logistics is reduced because the proportion of employee welfare expenditure in JD.COM is decreasing year by year, relevant data show that in addition to the "flywheel effect" brought by the influx of a large number of external orders, this cost accounts for 45. 1% in 20 18, 39.5% in 20 19 and 36. 5% in the first three quarters of 2020.
However, Jingdong Logistics still adheres to the strong operational efficiency and excellent service quality brought by logistics network optimization and technology-driven, which has greatly improved the efficiency of customers' supply chain operations, such as accelerating inventory turnover and reducing delivery time, and at the same time helping customers achieve business growth by providing sales forecasts and other intelligent decisions. /kloc-In the past 0/0 years, while helping JD.COM Group to serve more than 400 million consumers, Jingdong Logistics has reduced the inventory turnover days of one million self-operated SKUs to 34 days through more than 800 warehouses, and the performance rate has been reduced to 6.5%. About 90% of online retail orders in JD.COM can be delivered the same day and the next day, creating the best case of global logistics technology innovation. In the view of Jingdong Logistics, this kind of technical service around customers is also one of the reasons for its loss reduction.
According to the prospectus submitted by Jingdong Logistics, in terms of technology investment, Jingdong Logistics will continue to strengthen its long-term competitiveness in technology, including hardware, software and algorithms, as well as the application of basic technologies such as 5G, cloud computing and Internet of Things. Among them, intelligence is the main development direction of Jingdong Logistics in the future, including unmanned warehouses, drones, unmanned vehicles and intelligent distribution robots. It is intended to further solve the pain points of the logistics industry from the technical level, improve the overall distribution efficiency and reduce the logistics cost.
Ma Yun, who is skeptical about self-built logistics, once said that the Internet is not only a technology, but also a value. Nowadays, Jingdong Logistics seems to realize this sentence more quickly. With the blessing of Internet technology and ideas, it not only proves to the outside world that self-built logistics is feasible, but also makes JD.COM people feel gratified that they have adhered to logistics for more than ten years. In the future, with the vigorous development of technology, Jingdong Logistics will provide more intelligent, automated and convenient logistics for the public, and build an intelligent logistics system for unmanned warehouses, unmanned vehicles and drones, which will surely be more deeply and comprehensively integrated into public life.
Text: Zhao Changchun/data ape