Shulou(Shulou.com)11/24 Report--

Thank CTOnews.com netizens Rimi Ishihara for the delivery of the clue to happiness! CTOnews.com September 26 news, Alibaba announced on the Hong Kong Stock Exchange today that the company intends to spin off Cainiao by listing Cainiao shares independently on the main board of the Hong Kong Stock Exchange.

It is proposed that the proposed spin-off will be conducted in the form of a global offering of Cainiao shares (including a Hong Kong public offering and an international offering), the notice said. After the proposed spin-off is completed, Alibaba will continue to hold more than 50 per cent of Cainiao, so Cainiao will remain a subsidiary of Alibaba.

In accordance with the 15th application guidelines, Alibaba has submitted a spin-off plan to the Hong Kong Stock Exchange for the proposed spin-off, and the Hong Kong Stock Exchange has confirmed that Alibaba can carry out the proposed spin-off. The application for spin-off listing has been submitted to the Hong Kong Stock Exchange.

Alibaba is a holding company that conducts business mainly through its subsidiaries and affiliated entities. The group's business includes six major business groups: Taotian Group, Ali International Digital Business Group, Cloud Intelligence Group, Local Life Group, Cainiao Group and Big Entertainment Group, as well as various other businesses.

Cainiao is an exempted limited company incorporated in the Cayman Islands on May 20, 2015. CTOnews.com inquiry learned that Alibaba currently holds about 69.54% of Cainiao's shares. Cainiao is an e-commerce logistics company that provides logistics services and solutions to Chinese and global merchants and brands, e-commerce platforms, consumers and logistics companies. Cainiao's main business includes international logistics, domestic logistics and technology and other services.

As previously reported by CTOnews.com, on the afternoon of March 29 this year, Zhang Yong, chairman of the board of directors and CEO of Alibaba Group, issued a full letter announcing the launch of organizational change. Specifically, "1" refers to Alibaba Group, "6" refers to Aliyun Intelligence, Taobao Tmall Business, Local Life, Cainiao, International Digital Commerce, and Big Entertainment six major business groups, and "N" refers to other business companies under Ali.

Ali stressed that qualified business groups and companies will have the possibility of independent financing and listing.

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