The China Security Regulatory Commission announced that JD Digits had terminated its IPO counseling agreement with CITIC Securities (中信证券) and Huajing Securities (华菁证券) on August 26th. JD Digits is preparing for an IPO on Shanghai’s NASDAQ-style STAR Market. Those plans are still underway with Guotai Junan Securities (国泰君安) and Minmetals Securities (五矿证券) continuing to support JD Digits’ listing. JD Digits is the fintech arm of e-commerce giant JD.com and is also involved in the fields of data technology, blockchain, AI and Internet of Things. Compared with Ant Group’s estimated valuation of USD200 billion, JD Digits is valued at around USD19 billion.