JD.com crisis: The Liu Qiangdong scandal caused JD.com's market value to evaporate
In the autumn of 2018, every investor on Wall Street squatting in front of the computer was closely watching the fate of a Chinese concept stock. This once thriving Chinese concept stock is JD.com, China's largest integrated online shopping platform.
However, in that September, Liu Qiangdong, the founder and CEO of JD.com, was caught in a scandal that caused a stir in the business world.
In a luxury apartment in Minneapolis, USA, a 21-year-old Chinese female college student accused Liu Qiangdong of sexually assaulting her at a banquet. As soon as this news was revealed, JD.com's stock price plummeted like a tsunami.
In just one month, JD.com's total market value has evaporated by nearly $50 billion, almost a third.
For JD.com and Liu Qiangdong, this is undoubtedly a heavy blow. Predictions are that JD.com's prospects will be bleak, and its leading position in China's e-commerce industry will be in jeopardy.
As for Liu Qiangdong himself, he fell from the altar of e-commerce wizards and became infamous.
In the shadow of this scandal, the future of Liu Qiangdong and JD.com seems bleak. However, just when the outside world was making pessimistic expectations, an unexpected figure appeared at a critical moment, bringing a glimmer of life to JD.com.
Super strong woman shows up to save JD.com
When the fate of Liu Qiangdong and Jingdong was bleak, an unexpected person stepped forward - that was Liu Qiangdong's wife, "Milk Tea Sister" Zhang Zetian.
A month after Liu Qiangdong was accused of sexual assault, 29-year-old Zhang Zetian appeared intimately at the wedding of Princess Eugenie, a member of the British royal family, with a shallow smile and holding Liu Qiangdong's arm.
Zhang Zetian spent 171 yuan to buy a ticket to the wedding, and used a royal ceremony to dredge the joint between her husband and Jingdong.
The picture of affection displayed by Zhang Zetian and Liu Qiangdong like a demonstration conquered the lens of the media in the audience. She turned the tide with her super charm and stabilized the pessimistic attitude of the outside world towards JD.com's stock price.
With Zhang Zetian's efforts, JD.com has regained a market value of nearly 50 billion yuan and won back the confidence of investors and consumers.
Such a public relations method undoubtedly shows Zhang Zetian's superiority. She is not the rich lady who can only buy bags and cars in the eyes of the outside world, but a strong woman who turns her hands into clouds and rains in a shopping mall.
Zhang Zetian and Liu Qiangdong's affectionate behavior also completely shattered the outside world's speculation about the divorce of the two.
In this life-and-death situation with JD.com, Zhang Zetian chose to help with all his might instead of abandoning. She did not hesitate to spend her time and energy just to save her husband's career crisis.
It is precisely with Zhang Zetian, the "insurance card" that stabilizes JD.com, that Liu Qiangdong and JD.com were able to regroup in the storm.
The heroine of tens of millions of mansions and private jets
When Zhang Zetian used his charm to save JD.com, we finally had the opportunity to explore the true face of this "milk tea sister". It turns out that Zhang Zetian, who has worked hard in the shopping mall for many years, is no longer the simple girl who needed to rely on men back then.
Today, she is a 29-year-old super-rich woman, and her net worth is on par with that of many top richest people.
Zhang Zetian now owns three luxury residences in Australia, the United States and China. The value of a single set of these properties is more than 10 million RMB.
Among them, the property in the prime area of New York covers an area of 4,000 square meters and has more than 80 rooms. This is also one of the most luxurious in that famous mansion area.
In addition, Zhang Zetian himself also owns a Gulfstream G650 private jet with a price of up to 400 million yuan. This aircraft is the fastest and most comfortable luxury aircraft in the world.
It not only surpasses Jack Ma's private jet by one level, but also belongs to a very small limited luxury edition among the top richest people in China.
It can be seen that Zhang Zetian's wealth and strength have ranked at the top of China's rich list, and he is no longer a girl who used to rely on men to survive. She has her own network resources accumulated in shopping malls and fashion circles, which brought her a considerable first pot of gold.
It is precisely by relying on pure strength that Zhang Zetian was able to keep pace with a group of business elites and become one of the most dazzling strong women in this era.
The mansion in his hometown was splashed with paint, and Liu Qiangdong was behind the scenes
In stark contrast to Zhang Zetian's continuous success, Liu Qiangdong encountered unexpected changes in his hometown. The founder of JD.com has always had a deep affection for the parents and villagers in his hometown of Suqian.
Every year, he gives cash assistance to the elderly in the village to help villagers in his hometown start businesses or work in JD.com. It can be said that Liu Qiangdong has a strong affection for his hometown, and he is a great benefactor in the hearts of Suqian people.
However, one day in 2022, someone found that the exterior wall of Liu Qiangdong's mansion in Suqian's hometown was splashed with red paint. This action is tantamount to a resounding slap in the face to Liu Qiangdong for helping his hometown for many years.
After this incident, public opinion was in an uproar, and people speculated about the true face of the mastermind behind the scenes. Some speculate that Liu Qiangdong has reduced economic aid to his hometown in recent years, which has led to dissatisfaction among the villagers. Indeed, since Liu Qiangdong cashed out 60 billion assets in 2016, he has never returned to his hometown to send money.
Such a sudden loss of economic resources will surely make the villagers complain. But more people pointed out that it was likely to be an act of retaliation for the sexual assault of Mr. Liu. The scandal that occurred in Minneapolis a few days ago undoubtedly made Liu Qiangdong have many enemies.
The so-called "dark under the lamp" may be the venting of grievances against Liu Qiangdong by people with ulterior motives.
Whatever the truth, the incident became a mystery. It also made a profound satire on Liu Qiangdong's affection for his hometown over the years. Did Liu Qiangdong encounter a group of ungrateful white-eyed wolves? This has become a mystery that can never be revealed in this story.
Conclusion: The comparison between Zhang Zetian and Liu Qiangdong
From Zhang Zetian's rescue of JD.com to the splashing of paint on Liu Qiangdong's hometown mansion, this series of events constitutes an interesting contrast.
Zhang Zetian and Liu Qiangdong are both outstanding figures of the post-90s generation, but their fates are very different. Zhang Zetian is no longer a simple girl who used to rely on men to survive, she used her charm to change the situation and prove that she is a strong woman who is in charge of herself.
Although Liu Qiangdong was dedicated to repaying his hometown fathers, he encountered a mysterious change in his hometown, and his kindness ended up happy.
It can be said that Zhang Zetian and Liu Qiangdong are at a crossroads in their lives. Will Liu Qiangdong be able to revive JD.com's majesty and regain the trust of investors? Will Zhang Zetian further control JD.com and become a female controlling shareholder in the future? How will Liu Qiangdong face the suspicions in his hometown? All of this is full of unknowns.
However, regardless of the future, one thing is certain, the relationship between Zhang Zetian and Liu Qiangdong will face a turning point. Zhang Zetian is no longer the simple girl who admired Liu Qiangdong in the past, she wants to make a difference for herself.
And Liu Qiangdong will also deeply reflect on this hometown change, whether this is the fruit of his years of good deeds.
Time has yet to open, and new answers lie ahead. We'll see.