The JD.com Group (JD.com, Inc.) announced on May 21, 2024 that it will issue US$17.5 million of convertible preferred notes and plans to close the transaction on or before May 23, 2024, provided that customary delivery conditions are met. The note matures in 2029 with an annual interest rate of 0.25%, paying interest once every six months. KYOTO GROUP WILL USE THE NET RAISED TO CONDUCT SYNCHRONIZED REPURCHASES, OVERSEAS BUSINESS EXPANSION, SUPPLY-CHAIN NETWORK ENHANCEMENT AND REPLENISHMENT OF LIQUIDITY. In addition, the holders of the Notes will have the right to convert to US Depositary Shares of the KYOTO Group prior to maturity, which can be converted to 21.8830 shares of US Depositary Shares per $1,000 of Notes. KYOTO GROUP ALSO PLANS TO CONDUCT A SYNCHRONIZED...Show More

The JD.com Group (JD.com, Inc.) announced on May 21, 2024 that it will issue US$17.5 million of convertible preferred notes and plans to close the transaction on or before May 23, 2024, provided that customary delivery conditions are met. The note matures in 2029 with an annual interest rate of 0.25%, paying interest once every six months. KYOTO GROUP WILL USE THE NET RAISED TO CONDUCT SYNCHRONIZED REPURCHASES, OVERSEAS BUSINESS EXPANSION, SUPPLY-CHAIN NETWORK ENHANCEMENT AND REPLENISHMENT OF LIQUIDITY. In addition, the holders of the Notes will have the right to convert to US Depositary Shares of the KYOTO Group prior to maturity, which can be converted to 21.8830 shares of US Depositary Shares per $1,000 of Notes. KYOTO GROUP ALSO PLANS TO CONDUCT A SYNCHRONIZED REPURCHASE OF APPROXIMATELY 1 MILLION SHARES OF U.S. DEPOSITORY SHARES TO OFFSET THE POTENTIAL DILUTION IMPACT ON COMMON EQUITY HOLDERS DURING THE CONVERSION OF THE NOTES. The Company's Share Repurchase Program will be provided by a portion of the proceeds from the sale of notes and other cash on hand. KYOTO GROUP REMINDS SHAREHOLDERS AND POTENTIAL INVESTORS TO BE AWARE OF THE RISKS OF INVESTING IN DIFFERENT VOTING RIGHTS COMPANIES.