According to the Hong Kong Stock Research Institute, on September 26, Alibaba announced another “big move” to split Cainiao Smart Logistics Network Co., Ltd. and plans to independently list on the main board of the Hong Kong Stock Exchange Limited, and submit the spin-off plan to the Hong Kong Stock Exchange, which has been confirmed by the Hong Kong Stock Exchange.
The Cainiao spin-off will be carried out in the form of a global sale, including a Hong Kong public sale and an international sale. What is certain is that after the spin-off is completed, Cainiao will still be a subsidiary of Alibaba, and Alibaba will continue to hold more than 50% of Cainiao's shares (currently holding about 69.54% of the shares). Other details relating to the spin-off, including the size and structure of the global offering and the decline in the company Cainiao's shareholding, are yet to be finalized.
Established in 2013, Cainiao has now formed five core service segments for three types of customers: consumers, merchants, and logistics partners, and continues to invest in global logistics infrastructure and low-level capacity building. The global operating area of the network has exceeded 10 million square meters, and the average number of cross-border parcels serviced daily has exceeded 5 million. Cainiao Digital Intelligence's logistics facilities and supply chain have served tens of thousands of merchant brands. Cainiao Inn has covered more than 200 cities, 3,000 universities, and more than 40,000 villages across the country. Cainiao Wrap has brought shipping services to more than 300 million consumers.
Earlier in March, Zhang Yong, chairman of the board of directors and CEO of Alibaba Group, issued a letter to all employees announcing that Alibaba Group would establish six major business groups and multiple business companies, including Cainiao. Just like Zhang Yong stated in a letter to all employees...