Editor’s note: A version of this post first appeared on Yicai Global, the English-language financial news service of Shanghai Media Group. Yicai Global is one of just two dedicated Chinese news feeds connected to the Bloomberg terminal.

Kumai (Kumai.jd.com), the online second-hand goods market launched by China’s e-commerce giant JD (京东) only four months ago, will shut down due to a business transition, the company announced.

According to an announcement posted on the site’s homepage, due to a change in the business model, Kumai will discontinue e-commerce services from June 22, and after-sales service will also be suspended from Aug. 22 following a two-month transitional period.

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Yicai Global

Yicai Global is the English-language financial news service of Shanghai Media Group and is one of just two dedicated Chinese news feeds connected to the Bloomberg terminal.