Alibaba: Plans to spin off Cainiao Logistics for listing on the main board of the Hong Kong Stock Exchange.
Alibaba announced on the Hong Kong Stock Exchange that it plans to spin off Cainiao by listing it independently on the Main Board of the Hong Kong Stock Exchange. After the proposed spin-off is completed, Alibaba will continue to hold more than 50% of Cainiao's shares.
On Tuesday, September 26th, Alibaba announced in a statement on the Hong Kong Stock Exchange that it plans to spin off Cainiao by listing it independently on the main board of the Hong Kong Stock Exchange.
In the announcement, Alibaba stated that the proposed spin-off will be conducted through a global offering of Cainiao shares. After the spin-off, Alibaba will continue to hold over 50% of Cainiao's shares, making Cainiao remain a subsidiary of Alibaba.
At the end of March this year, Alibaba announced the launch of the "1+6+N" organizational transformation, which includes the establishment of six business groups and multiple business companies under Alibaba, including Alibaba Cloud Intelligence, Taobao and Tmall Commerce, Local Services, Cainiao, International Digital Commerce, and Digital Entertainment. On May 18th, the Alibaba Board of Directors approved the plan to list Cainiao Group, which is expected to be completed within the next 12-18 months. On the evening of May 18th, Cainiao Group CEO Wan Lin sent a letter to all employees, hoping that all Cainiao employees would accelerate their capacity building and embark on a new entrepreneurial journey, striving to become a leading global comprehensive intelligent logistics group in the next decade. On June 28th, at the 2023 Global Smart Logistics Summit, Cainiao Group announced the launch of its self-operated quality express delivery service: Cainiao Express. It is understood that Cainiao Express has upgraded from serving Tmall Supermarket's delivery service to a national express delivery network, focusing on half-day delivery, next-day delivery, and door-to-door delivery services. Cainiao Express is designed to meet the market's demand for high-quality express delivery, with a focus on "self-operated by Cainiao, quality express delivery, affordable and easy to use." It provides a rich product matrix based on timeliness and weight, covering large, medium, and small packages. Wan Lin stated at the event that Cainiao was once very conflicted about whether to operate its own express delivery service, but now they are no longer conflicted about this issue. "It's not about what we want to become, but what the customers need." He emphasized that self-operated express delivery will be Cainiao's core capability.
(Continuously updating)