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The reason JD.com's stock has been falling nonstop has been found: brothers are all his cash machines.
Brother Dong was awarded shares worth at least 58 billion Hong Kong dollars.
JD Health: 149.5 billion Hong Kong dollars market cap → 2% about 3.0 billion Hong Kong dollars
JD Logistics: 100 billion Hong Kong dollars market cap → 2% about 2.0 billion Hong Kong dollars
JD Industrial: 39.1 billion Hong Kong dollars market cap → 2% about 0.8 billion Hong Kong dollars
From 2020 to 2025, Brother Dong took a total of 1.5 billion RMB from JD Logistics, and 2.6 billion RMB from JD Health, for a combined total of 4.1 billion RMB.
During the same period, Brother Xing gave himself 31.3 million, and Brother Xiao Ma took 278 million—showing a very kind heart.