JD Logistics announced that they would be listed on the Hong Kong Stock Exchange on May 28 with a valuation of about USD 35B. JD Logistics will issue only 10% of all shares in the process. So far, Jingdong Logistics has held a 10-day analyst roadshow ahead of the Hong Kong IPO. JD Logistics had previously said that they see long-term competitiveness in technology and the application of 5G, cloud computing, and the Internet of Things. The revenue of JD Logistics has developed from CNY 49.8B (2019) to CNY 73.4B (2020), an increase of 47.2%. The proportion of sales from external customers on the JD Logistics platform is increasing year by year. In 2018, 2019 and 2020, the revenue from external customers accounted for 29.9%, 38.4% and 46.6% respectively. In 2020, they operated more than 900 warehouses with a total storage area of about 21 million square meters.