JD Health’s IPO filing signals healthcare industry on the rise
Posted On October 9, 2020
The healthcare unit JD Health filed for a listing on the Hong Kong stock exchange on Sunday, the same day as JD announced its spin-off which has made it the third affiliate to go public. The healthcare and biotech sector is one of a few that has benefited from the pandemic lockdown, raking in $1.3 billion revenue in the first half of this year, with an amazing increase at 76% year-on-year. As the industry surges, the company is now facing challenges from multiple rivals including Alibaba-backed Ali Health and Tencent-backed Wedoctor.