Chinese online platform JD Health rises 50% in stock debut

Photo from: Facebook page

By: Channel News Asia

Shares in China’s biggest online health care platform rose 50 per cent in their Hong Kong stock market debut Tuesday (Dec 8), reflecting investor enthusiasm for the fledgling industry as the country emerges from the coronavirus pandemic.

JD Health, an arm of JD.Com, China’s biggest online retailer, sells medications, hospital care packages and online consulting by doctors.

Chinese internet companies increasingly offer health services in a society where hospitals are crowded and distribution of drugs and medical supplies outside major cities is uneven. Online consulting with Chinese-speaking physicians is popular with families from China who live in the West or in developing countries.

Other competitors include e-commerce giant Alibaba Group’s Alibaba Health; Baidu Health, run by search giant Inc.; and WeDoctor, run by Tencent Holding, operator of the popular WeChat messaging service.

The coronavirus pandemic has boosted demand for Chinese online platforms.

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