The Zhitong Finance App learned that according to the Hong Kong Stock Exchange's disclosure on September 26, Cainiao Smart Logistics Network Co., Ltd. submitted a listing application to the main board of the Hong Kong Stock Exchange. Citi, CITIC Securities, and J.P. Morgan Chase are their co-sponsors.
According to the prospectus, Cainiao is a global leader in the e-commerce logistics industry. According to the insight and consulting data of independent industry consultants appointed by the company, the company is the world's largest cross-border e-commerce logistics service enterprise and a leader in domestic logistics services. With the company's deep insight into the e-commerce industry and technological strength, the company has established a smart logistics network with end-to-end logistics capabilities around the world.
Cainiao was founded by Alibaba (09988) and other partners in 2013 to meet the growing and changing needs of buyers and sellers for logistics services on Alibaba Group's e-commerce platform. The company is an open technology platform that emerged from the world's largest e-commerce ecosystem. This tradition injects a unique “e-commerce × technology” gene into the company.
Over the years, the company has evolved from a technology platform to a smart logistics network with end-to-end capabilities. The company strategically controls key nodes of the network (such as e-commerce logistics hubs (“e-Hubs”), warehouses, sorting centers and terminal distribution) to ensure service quality, efficiency and reliability, while utilizing the capabilities of trusted partners to promote network expansion and capital efficiency. This strategic approach, along with advanced technology integrated into network operations, enables the company to develop a specially built logistics network to facilitate the smooth flow of e-commerce packages around the world.
The company's global end-to-end logistics network is built specifically for global e-commerce and stems from the company's technological genes. As of June 30, 2023, the company's global network covers more than 200 countries and regions, including two e-Hubs with a total construction area of more than 150,000 square meters, more than 1,100 warehouses with a total construction area of about 16.5 million square meters, and more than 380 sorting centers. The network is connected to charter flights, charter boards, and transportation routes from China to major overseas destinations (an average of about 170 weekly charter flights and charter flights in June 2023, and more than 2,700 transportation routes as of June 30, 2023). The network is also connected to a large-scale terminal network with more than 4,400 outlets and more than 170,000 post stations as of June 30, 2023.
On the financial side, for the years ended March 31 in 2021, 2022, 2023, and the three months ended June 30, 2023, Cainiao's revenue was 52,733 billion yuan, 66.867 billion yuan, 77.8 billion yuan, and 23.164 billion yuan respectively. Over the same period, it achieved annual profits of -2,015 billion yuan, -2.286 billion yuan, -2,801 billion yuan, and 288 million yuan respectively.
Notably, Cainiao mentioned in its prospectus that the company has established a strategic partnership with Alibaba Group. If the company fails to maintain relationships with Alibaba Group or adapt to changes in the Alibaba ecosystem, or if the Alibaba ecosystem does not develop as expected, the company's business, financial position, operating performance and prospects may be significantly adversely affected.