(Yicai Global) Aug. 18 -- JD Health and Hillhouse Capital Group have inked an agreement on the B round of non-redeemable preferred stock financing and Hillhouse is expected to invest over USD830 million, JD.Com announced on its WeChat account yesterday.

Beijing-based JD.Com did not detail the dividend on and price of the preferred shares, merely saying delivery will conclude in the third quarter and it will still control JD Health after the delivery.

Hillhouse’s industry experience and resources will strengthen JD Health’s pharmaceutical supply chain and open business opportunities in the medical and health field, JD.Com said.

JD Health secured more than USD1 billion in Series A funding from China Fund and China Capital Investment Group in May last year.

Beijing- and Hong Kong-based Hillhouse Capital tweaked its e-commerce holdings during the second quarter, according to a US stock-holding report the firm posted on the Securities and Exchange Commission’s website. It bought about 2 million Alibaba Group Holding shares and 1.1 million of Pinduoduo’s, and sold 4.1 million JD.Com and 1.6 million Vipshop stocks.

JD.Com’s [NASDAQ:JD] rose to nearly USD60 from USD41 during the second quarter. Hillhouse Capital thus raked in about USD168 million to USD246 million by cutting its holdings of the company’s US stocks.

Editor: Ben Armour