Deliveries Incorporated announced on the evening of March 25th that it has obtained approval from the Shanghai Stock Exchange to voluntarily withdraw the listing of its stock on the exchange and decided to terminate its stock market listing. This signifies that this A-share listed company with a market value reaching billions of yuan is officially heading towards voluntary delisting. The company is expected to incur losses of hundreds of millions of yuan in 2025.
According to the arrangement, the company’s stock will not enter a delisting consolidation period trade, and will be delisted and removed from the market on March 31st.
Data from Wind shows that as of the last trading day before the suspension on January 20th, Deliveries Incorporated’s stock price closed at 18.85 yuan per share with a total market value of approximately 19.1 billion yuan, belonging to the category of typical logistics listed companies with a market value exceeding billions. The company’s stock has been suspended from trading since the market opened on January 21st and will remain suspended until the delisting process is completed. Deliveries Incorporated has become the first company in 2026 to disclose a plan to voluntarily terminate its listing on the A-share market.
The announcement states that according to Article 9.7.11 of the “Shanghai Stock Exchange Stock Listing Rules,” the stock of a company that voluntarily terminates its listing is not subject to the delisting consolidation period system. After the company delists, it will be transferred to the National Equities Exchange and Quotations (NEEQ), also known as the New Third Board, for listing and transfer trading.
Regarding performance, the company is expected to incur losses in 2025, with a net profit attributable to shareholders ranging from -539 million yuan to -439 million yuan.
The company indicated that the losses are primarily due to intensified industry price competition, customers squeezing logistics costs, and internal strategy adjustments.
On the evening of January 13th, the company had already disclosed the relevant delisting plan. The proposal was put forward by the indirect controlling shareholder, Jingdong Zofeng, and was approved by the board of directors.
On March 4th, the Shanghai Stock Exchange officially accepted its application for delisting. The application period for cash settlement options has been completed, with approximately 197 million shares having been transferred to the account of Jingdong Logistics Transport Co., Ltd.