After receiving widespread attention for employee salary increases, Liu Qiangdong has taken action again.
On the evening of December 27th, Jiashi Fund released an announcement regarding Jiashi JD Warehousing Infrastructure REIT's plan for concerted action by original equity holders to increase their holdings of fund shares. The announcement shows that Liu Qiangdong, founder and chairman of the board of directors of JD Group, and/or its concerted action persons, based on their confidence in the future development prospects and recognition of the long-term investment value of the fund and infrastructure project, will increase their holdings through the Shanghai Stock Exchange trading system through secondary market buying or other methods recognized by the exchange, with an increase amount not exceeding 100 million yuan.
Up to 100 million yuan increase in holdings
On the evening of the 27th, Jiashi Fund released an announcement stating that it had received a notice from Beijing JD Century Trading Co., Ltd., the original equity holder of Jiashi JD Warehousing Infrastructure REIT, regarding its concerted action plan to increase its holdings.
According to the announcement, the subject of this increase in holdings is Liu Qiangdong and/or his concerted action persons. The purpose of the increase in holdings is based on confidence in the future development prospects and recognition of the long-term investment value of the fund and infrastructure projects.
The reporter from the Daily Economic News noticed that as of December 26th, the subject of this increase in holdings does not hold any fund shares in Jiashi JD Warehousing Infrastructure REIT.
In terms of the method of increasing holdings, it will be done through the trading system of the Shanghai Stock Exchange through secondary market buying or other methods recognized by the exchange. The amount of this increase will not exceed 100 million yuan.
In terms of price, there is no price range set for this increase in holdings plan. The increasing entity will implement this increase plan at the appropriate time based on the fluctuation of fund trading prices and the overall trend of the secondary market, in compliance with laws and regulations and the provisions of the Shanghai Stock Exchange. The implementation period is within 24 months from the date of announcement.
In terms of holding period, the increasing entity promises that the fund shares increased this time will not be reduced through bulk, agreement transfer or bidding transactions during the implementation period of the increase plan and within 6 months after the expiration of the increase plan. The reduction behavior will strictly comply with relevant rules and requirements.
First Private Enterprise Warehousing and Logistics Public REIT Offering
Public information shows that JiaShi JD Warehousing Infrastructure REIT was established on January 11, 2023 and went public on February 8 of the same year, making it the first privately-owned warehousing and logistics public REIT in China. At present, we hold the first phase of the JD Chongqing E-commerce Base project (Transit Distribution Center) in Banan District, Chongqing (hereinafter referred to as the Chongqing project), the JD Asia No.1 Langfang Economic Development Logistics Park project in Langfang Development Zone (hereinafter referred to as the Langfang project), and the construction project of the Jingdong Mall Asia No.1 Warehouse Central China Headquarters in Dongxihu District, Wuhan (hereinafter referred to as the Wuhan project).
Currently, the leasing contracts for the Langfang and Wuhan projects are being fulfilled normally. On December 27th, Jiashi Fund also announced the renewal status of the main lessees for the Chongqing project. According to the announcement, the Chongqing project has a leasable area of 184568.56 square meters, which will be leased to Chongqing Jingbangda Logistics Co., Ltd. The net effective rent for 2024 is 23.98 yuan/square meter/month.
In this lease renewal, the fund manager, together with the operating management agency, comprehensively considered various factors and combined with the market research of the third-party evaluation agency JLL, and finally reached a consensus with the lessee on the renewal matter: starting from January 2025, the net effective rent for the first year of renewal is 20.16 yuan/square meter/month.
That is to say, after the renewal of the Chongqing project, the average net effective rental unit price of infrastructure projects held by JiaShi JD Warehousing Infrastructure REIT will decrease by 0.99%, and the operating income of the three projects in 2025 is expected to decrease by 2.03% compared to the predicted operating income in the 2023 evaluation report of the fund. At the same time, this renewal will maintain a 100% occupancy rate for the assets held by the fund. After the renewal, the weighted average remaining lease term at the end of 2024 will increase to 1557 days, making the fund operation more stable.
In addition, the announcement also introduces the work arrangements that the fund manager has made/plans to make, including actively preparing for the renewal of the lease, implementing the signing of new leases, doing a good job in operation and investor relations management, etc. It is reported that as of the third quarter of this year, the fund has achieved a distributable amount of 64.05 million yuan in 2024, a year-on-year increase of 5.69%; The fund has completed 5 income distributions since its issuance, with a cumulative distribution amount of 136.661 million yuan.
From the perspective of market performance, on December 27th, Jiashi JD's warehousing infrastructure REIT rose by 0.88% in the secondary market. As of the 27th, the fund has experienced fluctuations of 7.44%, 5.3%, and -13.56% in the secondary market in the past month, past three months, and since its listing (including the first day of listing), respectively.
It is worth noting that information about JD's recent salary increases and early year-end bonuses for employees has frequently appeared on hot searches. On December 25th, JD Group announced that it will once again upgrade the salary and benefits of its customer service personnel. The monthly fixed salary of over 20000 JD customer service representatives will be significantly increased, with an average salary increase of 2 months for all employees. This is also another round of significant salary increases, following the 30% average salary increase for all JD customer service staff in February this year.
On December 23rd, JD.com released its 2024 year-end bonus distribution plan. In the first year of implementing a 17 month salary and gradually moving towards a 20 month salary, employees who achieve an A+annual performance in departments with a 17 month salary will receive a 20 month salary, while JD.com will adopt an average 23 month salary for 2024. According to the notice, JD Group has announced that the year-end bonus for this year will be distributed on January 26th (the 27th day of the twelfth lunar month) to colleagues in the O-series (grassroots employees such as sorters, deliverymen, etc.). Colleagues in the P series (professional and technical, project management) will receive their year-end bonus on February 27th.