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Celia Chen

Li Tao

Sarah Dai

JD.com’s shares plunged to a 19-month low in US trading on Tuesday as investors weighed the possible impact of billionaire founder Richard Liu Qiangdong’s weekend arrest in the United States on suspicion of criminal sexual conduct, a term that covers a range of non-consensual sexual acts.
The company’s American depository receipts fell 6 per cent to close at US$29.43 in Nasdaq trading, the lowest share price since February 2017, on what was the first day for the markets after Monday’s Labour Day public holiday.
JD.com’s billionaire founder Richard Liu back in China after US arrest
Liu returned to JD.com’s headquarters in Beijing on Tuesday morning, days after being released from a holding cell in Minneapolis, Minnesota. He was back at work for the signing of a strategic partnership with Chinese textile manufacturer Ruyi Group.


JD.com released a group photograph showing its chairman and chief executive smiling, flanked by Qiu Yafu, chairman of Ruyi and executives from both companies.
Liu, 45, has yet to make a personal statement regarding the night of August 31, which he spent in custody in Hennepin County, Minnesota.
He was in Minneapolis to take classes at the University of Minnesota, where he was enrolled at the university’s Carlson School of Management to complete the American residency of a US-China business administration doctorate programme.
Back in China, Liu has some high-profile appearances scheduled in the weeks ahead.
Who is Richard Liu? Chinese billionaire seeks to raise profile as JD.com expands outside China
He is listed as an attendee at the AI World 2018 conference later this month in Shanghai, alongside other corporate chieftains including Tencent Holdings chairman Pony Ma Huateng, Baidu chairman Robin Li, Xiaomi chairman Lei Jun and Alibaba Group Holding executive chairman Jack Ma Yun.
Liu is scheduled to travel to Hong Kong in November for a luxury forum, according to a company representative.

Police have not outlined specific accusations against Liu, according to lawyer Joseph Friedberg, whom JD.com confirmed as representing the billionaire.
Friedberg said that his team was awaiting details from the authorities before deciding on the next steps, and that he did not think there would be charges filed, according to media reports.
Liu and his wife, Zhang Zetian, are one of the most high-profile couples in China’s business circles. Zhang shot to fame after their marriage and is known in China “Sister Milk Tea” after a photo of her in her schooldays holding a cup of milk tea.
The couple have a young daughter and are frequently seen together in public.
Neither Liu nor Zhang have posted on their verified Weibo social media accounts since the arrest.
Zhang, who has 1.5 million followers on Weibo, has not posted since May 31. The last posting on Liu’s Weibo account was on June 19, about the company’s unmanned delivery drone, a day after its “618” shopping festival.
News of the arrest came after Liu was identified in July as the host of a 2015 party in Sydney, Australia, where a guest was found guilty of sexually assaulting a model he met at the gathering. Liu was not accused of any wrongdoing.
JD.com chief released after US arrest over sexual misconduct claims
Tuesday’s slump extends the decline this year to 30 per cent. Liu has an estimated net worth of US$7.3 billion, according to a wealth index calculated by Bloomberg.
JD.com, an online shopping platform, posted a net loss in the quarter that ended in June that was about eight times larger than analysts expected, due to increased spending.
The company faces increased competition not just from established rivals like market leader Alibaba, which owns the South China Morning Post, but also from relative newcomers like Pinduoduo, which has gained market share by selling low-priced items through a combination of group buying and social media.
Additional reporting by Jodi Xu Klein


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JD.com shares plunge in US trading after billionaire CEO Richard Liu’s arrest on sexual misconduct claim

Trading of JD.com’s American depository receipts resumed Tuesday after the Labour Day long weekend. Liu was arrested on August 31 and released the next afternoon.

This 2018 photo provided by the Hennepin County Sheriff’s Office shows Chinese billionaire Liu Qiangdong, also known as Richard Liu, the founder of the Beijing-based e-commerce site JD.com, who was arrested in Minneapolis on suspicion of criminal sexual conduct, jail records show. (Hennepin County Sheriff’s Office via AP)

JD.com chief Richard Liu Qiangdong (fifth from right) at company's Beijing headquarters on Tuesday.

Chinese billionaire and JD.com chief Richard Liu released after US arrest over sexual misconduct claims

Richard Liu is the chief executive and founder of Chinese e-commerce company JD.com. Photo: Jason Alden, Bloomberg

JD.com losses surge on soaring spending and investment

JD’s disappointing showing comes a day after top shareholder Tencent Holdings Ltd. reported its first profit drop in 13 years, souring sentiment on Chinese tech companies

FILE PHOTO: A JD.com sign is seen during the fourth World Internet Conference in Wuzhen, Zhejiang province, China, December 4, 2017. REUTERS/Aly Song/File Photo

JD.com’s billionaire founder Richard Liu back in China after US arrest

JD.com said in a statement on its official Weibo account that Richard Liu Qiangdong, the company’s founder, chairman and chief executive, was falsely accused while on a business trip in the US and that local police conducted investigations and did not find any misconduct. Photo: Weibo

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Trading of JD.com’s American depository receipts resumed Tuesday after the Labour Day long weekend. Liu was arrested on August 31 and released the next afternoon
