Zhitong Financial APP News, JD.com Group-SW (09618) announced that the company has renewed its strategic cooperation agreement with Tencent Co., Ltd. (stock code: 00700, "Tencent") for a period of three years.
Tencent will continue to provide significant primary and secondary access portals to the company on its Wechat platform to provide traffic support, and the two sides also intend to continue to cooperate in communications, technical services, marketing and advertising, as well as membership services. The value of the partnership is expected to be paid or launched in the form of cash and shares in the company over the next three years.
As part of the total consideration, the company will issue a number of Class A common shares to Tencent with a value of up to US $220 million, which is determined by reference to the prevailing market prices on certain scheduled dates during the 3-year period. The two sides will make use of this mutually beneficial partnership to provide users with a better and more convenient shopping experience.