JD.com and CECONOMY complete voluntary public takeover

// Transaction successfully closed on 12 November 2026

// All offer conditions for completion of the transaction fulfilled

// Advanced technology, leading omni-channel retail expertise, and logistics capabilities of JD.com to contribute to CECONOMY’s long-term growth as a leading European omni-channel retailer

// Partnership supports JD.com's international expansion strategy, while CECONOMY continues to operate as a stand-alone business in Europe

Beijing, China / Düsseldorf, Germany – 12 November 2026: JINGDONG HOLDING GERMANY GMBH (the “Bidder”), a wholly-owned indirect subsidiary of JD.com, Inc. (together with the Bidder and other companies of JD.com group “JD.com”), has successfully completed the voluntary public takeover offer (the “Offer”) for CECONOMY AG (“CECONOMY” or the “Company”; the “CECONOMY Shares”, ISIN: DE0007257503), acquiring 59.8% of the share capital and voting rights of CECONOMY for a total consideration of EUR 1,335 million. Together with the 25.3% stake retained by JD.com's partner Convergenta, this acquisition brings their combined shareholding in CECONOMY to 85.2%. This follows the fulfillment of all offer conditions for completion of the transaction, including merger control clearances, foreign investment clearances and EU foreign subsidies approvals.

This milestone marks the beginning of a new strategic investment partnership to create the leading next-generation consumer electronics platform in Europe. Together with Convergenta, JD.com and CECONOMY aim to accelerate the further transformation of CECONOMY and support CECONOMY’s long-term growth as a leading European omni-channel retailer. The partnership will give CECONOMY access to JD.com's world leading technology and logistics capabilities, giving customers greater choice, bringing new and innovative products to market more quickly and offering faster delivery.

International expansion is a priority for JD.com, and this strategic investment partnership with CECONOMY is a significant step in the delivery of this strategy and demonstrates the Group's commitment to Europe. JD.com’s vision is to build a truly global business that brings the best of JD.com’s capabilities to international markets and integrates seamlessly with the local ecosystems where it operates. CECONOMY operates more than 1,000 consumer electronics stores, in eleven markets under the MediaMarktSaturn and MediaWorld brands. The company employs around 50,000 people; in 2025 it counted more than 53 million loyalty members and 2.2 billion annual customer contacts.

JD.com CEO, Sandy Xu, said: “JD.com and CECONOMY share a common vision to build Europe’s leading next-generation consumer electronics platform. We can now start to implement our vision and bring it to life. CECONOMY has a clear and compelling strategy for the European retail market and for Europe's consumers. Supported by its talented employees, strong brand recognition, and extensive online and offline capabilities, it has the foundations from which to grow and thrive. We are also confident our partnership supports Europe’s broader objectives for innovation and competitiveness, and will contribute to a more dynamic European consumer retail market.”

Remko Rijnders, CEO of CECONOMY, said: “Today marks the beginning of a new chapter for CECONOMY. Our partnership with JD.com has become reality and we are ready to move into implementation with full momentum. CECONOMY has the right foundation to accelerate its ambition of becoming Europe's most trusted tech platform. What stays the same is everything that makes us strong, our mission, our iconic brands, our employees and our commitment to our customers. What changes is that we can now move from vision to action, combining our local expertise and customer relationships with JD.com's technology and logistics capabilities to deliver an even better experience for European consumers.”

Improving services for European consumers and continuing to develop trusted brands

JD.com, renowned for its superior customer experience and industry-leading e-commerce logistics service standards, will contribute its advanced technology, leading omni-channel retail expertise, and logistics and warehouse capabilities to the partnership.

As part of the strategic roadmap, CECONOMY will remain a stand-alone business in Europe with a local independent technology stack. There are no material changes planned to the management, company structure, organization, or brand architecture, while existing work council agreements, collective bargaining agreements and the existing level of co-determination in the Supervisory Board remain in place. JD.com is committed to investing in CECONOMY’s strong consumer brands and staying true to their heritage. CECONOMY will continue to focus on developing its long-lasting customer relationships and building new ones across its omni-channel platform.