The Zhitong Finance App learned that under current market conditions, Alibaba-SW (09988) withdrew its Hong Kong stock IPO application from its subsidiary Cainiao Smart Logistics Network. The market was not entirely surprised by this and maintained its “buy” rating, with a target price of HK$114. The company purchased the remaining 36.3% of Cainiao's shares at a price of 0.62 US dollars per share, with an implied valuation of about 10.3 billion US dollars, or 0.7 times the market sales rate expected by the market this year.

The bank mentioned that while attending the conference call, Alibaba's management emphasized the deep integration of strategic considerations between e-commerce and logistics to further strengthen its competitive position. In the domestic market, gaining and growing market share is the key; in overseas markets, cross-border e-commerce is a huge market, and the goal is to achieve global delivery within 72 hours.