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

Thank you CTOnews.com netizen Mr. Aviation for the clue delivery! CTOnews.com September 26 news, Hong Kong Stock Exchange website information shows, Cainiao Smart Logistics Network Co., Ltd. has formally submitted listing application to the Hong Kong Stock Exchange, co-sponsors for Citigroup, Citic Securities, JP Morgan Chase.

According to the prospectus, Cainiao's total revenue in fiscal year 2023 was 77.8 billion yuan, with a compound growth rate of 21% in the past three years, and adjusted EBITDA (earnings before interest, tax, depreciation and amortization) of more than 2.8 billion yuan in fiscal year 2023. With its unique "e-commerce and technology" gene, Cainiao has redefined the logistics industry standard through continuous innovation and achieved industry leadership in many business fields.

Cainiao also said in its prospectus that the company shipped more than 1.5 billion cross-border e-commerce packages in fiscal year 2023, serving more than 100,000 merchants and brands engaged in cross-border trade, ranking first in China's export e-commerce logistics and import e-commerce logistics.

The board of directors of Cainiao Company comprises eight directors, including two executive directors, three non-executive directors and three independent non-executive directors. Among them, Alibaba Cai Chongxin is the chairman of the board of directors, other members also include Dai Shan, Jiang Fan, Wan Lin and other Alibaba executives.

Earlier today, Alibaba announced on the Hong Kong Stock Exchange that the company intends to spin off Cainiao by listing its shares independently on the main board of the Hong Kong Stock Exchange.

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

According to CTOnews.com previously reported, On the afternoon of March 29 this year, Alibaba Group Chairman and CEO Zhang Yong issued a full letter, Announcing the launch of "1+6+N" Organizational reform, Qualified business groups and companies, Will have the possibility of independent financing and listing.

Specific "1" refers to Alibaba Group,"6" refers to Alibaba Cloud Intelligence, Taobao Tmall Business, Local Life, Cainiao, International Digital Commerce and Grand Entertainment, and "N" refers to other business companies under Alibaba.

With Cainiao submitting its listing application, the company became the first business group to formally enter the IPO process after Alibaba announced its "1+6+N" strategy.

Welcome to subscribe "Shulou Technology Information " to get latest news, interesting things and hot topics in the IT industry, and controls the hottest and latest Internet news, technology news and IT industry trends.