Alibaba announced on the 26th that it intends to spin off Cainiao through the independent listing of Cainiao Smart Logistics Network Co., Ltd. on the main Board of the Hong Kong Stock Exchange. After the spin-off is completed, Alibaba will continue to hold more than 50% of the shares of Cainiao, and Cainiao will remain a subsidiary of Alibaba.
Cainiao first fly sprint global smart logistics first share
The announcement shows that Cainiao was registered on May 20, 2015, and its main business includes international logistics, domestic logistics and technology and other services.
Upon completion of the spinoff, Alibaba's unspinoff Group will continue to operate its existing major businesses, which include Taotian Group, Ali International Digital Business Group, Cloud Intelligence Group, Local Life Group and Great Entertainment Group, as well as other businesses, with the exception of those operated by Cainiao Group.
In the announcement, Alibaba's board listed four ways in which it believed a spin-off would benefit the company and Cainiao.
As of the announcement date, Alibaba held about 69.54% of Cainiao's shares.
According to the previously released Alibaba's financial report for the first quarter of the fiscal year 2024 (April 1 to June 30, 2023), driven by the growth of international logistics compliance solutions and domestic consumer logistics services, Cainiao's revenue in the quarter reached 23.164 billion yuan, an increase of 34%.
According to the financial report, Cainiao has optimized the process from the first kilometer collection, trunk transportation, overseas distribution to the end distribution in the global end-to-end logistics, supporting cross-border merchants by providing lower distribution costs and faster distribution speed. In China, Cainiao continues to expand value-added services to enhance the consumer experience, prioritizing the promotion of upgraded supply chain products and services in key consumption cities. Recently, Nestle, Procter & Gamble, Unilever, Budweiser, Danone, L 'Oreal, Carlsberg and a number of leading brand enterprises have further deepened supply chain cooperation with Cainiao.
Ali comes from behind
At the Global Smart Logistics Summit held on June 28, Tsai Chongxin, chairman of the Board of directors of Alibaba Group and chairman of Cainiao Group, said that Alibaba Group will always firmly support the long-term development of Cainiao, and Cainiao will continue to build a global logistics network based on China's foundation and focus on the global market.
In the view of the industry, Tsai Chongxin also serves as the chairman of the Cainiao Group and personally handles the capital operation of the Cainiao, which has hinted at the plan of accelerating the IPO of the Cainiao. Today, Cainiao's internationalization process is also being vigorously promoted.
Tsai Chongxin said that Cainiao will continue to invest in the construction of logistics capabilities, including: further expand the leadership of digital intelligence, maintain the scientific and technological nature of smart logistics leading enterprises; At the same time, we will devote ourselves to the logistics industrialization operation and deepen the logistics capability in the customer service scenario.
According to the listing arrangement previously planned by Ali, Cloud Intelligence Group will be completely separated from Alibaba Group and completed independent listing by distributing dividends to shareholders; Both Cainiao and Hema will seek separate listings; International digital business group will seek independent external financing.
However, previously, Hema was rumored to have suspended the IPO plan, as of press time, the company has not yet officially responded.
At the same time, Alibaba's board of directors accepted Zhang Yong's request to step down as chairman and CEO of Alibaba Cloud, and the chairman and CEO of Alibaba Cloud will be concurrently held by Group CEO Wu Yongming from now on, which also added variables to the independent listing process of Alibaba Cloud.
