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

Alibaba Group recently released its financial results for the second quarter of fiscal year 2024. Cainiao achieved a revenue of 22.823 billion yuan this quarter, an increase of 25% over the same period last year, with an adjusted EBITA of 906 million yuan, and its profitability continued to increase.

Compared with the quarterly financial reports of the major domestic logistics enterprises, Cainiao's growth rate of 25% is the first in the industry.

The reporter further learned from Alibaba's financial report and the subsequent analyst conference call that although the cloud intelligence group was completely spun off and the IPO plan was suspended, the rookie IPO was in normal progress. Following the submission of the IPO application on September 26, Cainiao has recently received feedback from the China Securities Regulatory Commission for supplementary materials, which is the usual process for companies to issue and list overseas.

At the earnings call, Cai Chongxin, chairman of Alibaba Group, said: "We are full of confidence in Cainiao's business fundamentals."

This time, Ali reported that the international e-commerce business has soared, and formed coordination and joint efforts with Cainiao's global intelligent logistics, which is expected to become a new round of growth engine for Ali in the future. Ali financial report also shows that cross-border e-commerce logistics is a strong driving force for rookie growth. Cainiao mentioned in its prospectus that Cainiao is already the number one cross-border e-commerce logistics company in the world in terms of the volume of cross-border e-commerce packages handled in 2022.

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