Source: Finance Association
① Alibaba will no longer be a shareholder of the company, and Champion Kerry Inc. will become the company's main shareholder; ② This transaction will not affect our daily business cooperation and strategic collaboration with e-commerce platforms; ③ In addition to the strategic investment of millions of dollars in January 2010, Alibaba invested tens of millions of dollars with Kaixin Investment and Hanli Capital in March 2011.
E-commerce service provider listed on both US and Hong Kong stocks$Baozun (BZUN.US)$/$BAOZUN-W (09991.HK)$An announcement was issued today stating that since May 30, 2024, Ms. Liu Yang has resigned as a director due to changes in Alibaba's shareholding in the company.
Meanwhile, the board of directors learned that on May 30, 2024, the company's major shareholders$BABA-SW (09988.HK)$/$Alibaba (BABA.US)$A sales agreement was concluded with Champion Kerry Inc., and Alibaba agreed to sell and Champion Kerry Inc. agreed to purchase 26.4694 million Class A common shares of the company, accounting for approximately 14.4% (share transfer) of the company's total issued shares on March 31, 2024. Following the share transfer, Alibaba will no longer be a shareholder of the company, and Champion Kerry Inc. will become the company's main shareholder.
In response, a relevant person from Baozun e-commerce told the Financial Federation reporter that the company is concerned about the transaction between the two investors and the corresponding adjustment of board seats. For other details of the equity conversion transaction, please refer to the investor's announcement. The company did not comment.
“I understand that Alibaba is a normal transaction after adjusting its investment strategy, and that new investors have long agreed with Baozun's value positioning. This transaction does not affect our daily business cooperation and strategic collaboration with various e-commerce platforms.” The person concerned about Baozun e-commerce mentioned above emphasized.
According to public information, Baozun E-Commerce, founded in 2007, is an e-commerce service provider. Its main business is to “build stores” online for brand companies and retailers. The content includes website construction, update and hosting, IT facility construction, customer service, warehousing and distribution, etc.
In the early days of its establishment, Baozun E-commerce developed official stores and Taobao flagship stores for Philips and Li Ning. Currently, its business has covered the construction of various channels from the brand's official store, Tmall JD, social mobile shopping malls, and offline smart stores. According to the official website, the Baozun electronics brand has reached 450 customers, including well-known companies in various fields such as Nike, Microsoft, and Panasonic.
Since the establishment of Baozun E-Commerce, it has had a close relationship with Ali. According to previous reports, in 2009, the founder of Baozun E-Commerce met Alibaba's investment manager Huang Mei while attending a brand conference hosted by Taobao. Through Huang Mei's coordination, Baozun E-Commerce received millions of dollars in financing from Ali a year later.
According to Tianyancha's business data, in addition to the strategic investment of millions of dollars in January 2010, Alibaba invested tens of millions of dollars in partnership with Kaixin Investment and Hanli Capital in March 2011.
According to the shareholding structure in the prospectus, up to the 2015 US stock listing, Alibaba was the largest shareholder of Baozun e-commerce, holding about 2.64 million common shares, with a shareholding ratio of 23.5%.
On May 28, Baozun E-Commerce released its financial report for the first quarter of this year. The financial report showed that the company's total revenue for the first quarter was 1.98 billion yuan, an increase of 4.9% over the previous year; the net loss was 66.6 million yuan. In recent years, Baozun e-commerce has been in a state of loss. According to previous financial data, from 2021 to 2023, Baozun's revenue was 9.396 billion yuan, 8.4 billion yuan, and 8.812 billion yuan respectively; losses were 220 million yuan, 653 million yuan, and 278 million yuan respectively.
It is worth noting that in December of last year, Alibaba withdrew from 7 listed companies within 3 days, including Focus Media, Qianfang Technology, Meinian Health, and Easyhome.
At the financial conference call for the third quarter of fiscal year 2024 on February 7, senior Ali officials said that unlike before, Ali will pay more attention to core business, especially e-commerce (including domestic and overseas e-commerce) and cloud computing. In the first nine months of fiscal year 2024, Alibaba completed $1.7 billion in non-core asset sales. In response to questions such as how to withdraw shares of some listed companies, Ali has formed a special team.
As of press release, Baozun E-Commerce Hong Kong shares rose slightly by 0.14% to close at HK$702 million, with a market value of HK$1,292 billion.
editor/tolk