AliThe ambition of unifying rivers and lakes has a new footnote in the express delivery industry. BABA plans to acquire at least 10 per cent of Yunda's stake, according to two people familiar with the matter, according to Reuters. If the above acquisition rumors are true, the six major companies in the private express industry (Shunfeng、Shentong、Yuantong, ZTO Express, Yunda and Bai Shi), five will join the "Ali system", and only Shunfeng is "on its own".The latest response from both sidesBABA's logistics plate is co-ordinated by Cainiao Logistics. For BABA and Yunda acquisition rumors, March 31, Cainiao Logistics told e company, "do not comment."At the same time, around 5: 00 p.m. on the 31stYunda sharesFu Qin, the secretary of Dong, refused the interview with e company on the grounds that he was in a meeting. At about 8:30 in the evening, when Company e called Fu Qin again, they got the same reply: "We are still in a meeting." Another Yunda shares related person said to the e company, "the announcement shall prevail."Although neither party was willing to give a positive response to the acquisition rumors, the capital markets reacted strongly. The secondary market shows that after the rumors of the acquisition came out, Yunda shares (002120) rose rapidly in the afternoon and ended up buying orders with 14600 hands to seal the trading limit.

Yunda Express, founded by Nie Tengyun in 1999, is an early private express company in China. In 2017, the company backdoor Xinhai shares, officially landed in the A-share market. After the backdoor listing, the performance of Yunda shares has grown rapidly. Data show that in 2017, Yunda shares achieved operating income of 9.986 billion yuan, an increase of 35.86% over the same period last year; net profit belonging to shareholders of listed companies was 1.589 billion yuan, up 35.01% over the same period last year; in 2018, Yunda shares achieved revenue of 13.856 billion yuan, an increase of 38.76% over the same period last year; return to the mother net profit of 2.698 billion yuan, up 69.76% over the same period last year; deducting non-net profit of 2.135 billion yuan, an increase of 38.66% over the same period last year.However, in 2019, Yunda shares will not increase profits.According to KuaiBao's performance in 2019, Yunda shares achieved a total operating income of 34.624 billion yuan, an increase of 149.89 percent over the same period last year; an operating profit of 3.659 billion yuan, an increase of 1.07 percent over the same period last year; and a net profit of 2.656 billion yuan belonging to shareholders of listed companies, a decrease of 1.57 percent over the same period last year. Yunda shares said that in 2019, the company's net profit declined, mainly due to the one-off income obtained from the disposal of the equity stake in Shenzhen Fengnest Technology Co., Ltd. in the previous reporting period; if the influence of the disposal of Fengnest equity in the previous reporting period is excluded, the net profit belonging to shareholders of listed companies increased by 17.68% in the reporting period compared with the same period last year. Since the beginning of this year, due to the impact of the COVID-19 epidemic, the express volume of Yunda shares has dropped significantly. Data show that in February this year, the company's express service revenue was 897 million yuan, down 26.48 percent from the same period last year; the number of completed business was 297 million, down 13.41 percent from the same period last year; and the single ticket revenue from express services was 3.02 yuan, down 15.17 percent from the same period last year.Expert: it's not the first time I've heard of it."BABA invested in Yunda? This is the third time I have heard the news in a year. " Huang Gang, an expert in the logistics industry, said that whether it is true or not, I hold a point of view: the new track of the express delivery industry is in BABA's big ecology, no matter whether it accepts BABA's investment or not, it should be deeply integrated into looking for the next round of growth opportunities. In 2009, when the first "double 11" was born, the volume of express delivery in China was 1.85 billion. By 2019, 63 billion pieces. BABA, Cainiao and express companies have relied on and promoted each other all the way with the rapid development of e-commerce new economy for more than 10 years. After years of continuous rapid growth, the express delivery industry has entered a period of steady growth. Some voices doubt whether there is a future for the express delivery industry. Now BABA's main track in digital commerce is the new retail, and the rookie's new track is the new logistics. Express companies have strong advantages in trunk transportation and terminal delivery, and also have a lot of exploration in the fields of warehouse allocation, cross-border, city distribution, cloud warehouse and other fields, which is an important force of new retail and new logistics. It can be said that the next wave of dividends for express companies has just begun.Zhao Xiaomin, an expert in the express delivery industry, said that the news that BABA bought a stake in Yunda is currently a market rumor, or the announcement shall prevail.In recent years, "Tongda" has been fully accelerating its integration into BABA's economy, especially bringing a huge boost to the realization of "domestic 24-hour access". For 72-hour globalization, it is also the time for "Tongda help" express delivery enterprises to go abroad together, to open a greater "group army combat, alliance cooperation" mode, but also conducive to the revitalization of domestic villages, the integration of rural urbanization, and so on. The development of the logistics industry, the competitiveness of express delivery enterprises and the receiving and mailing experience of users will all benefit from this.The expansion path of Ali logistics territoryIf the above acquisition rumors are true, it will mean that among the top six companies in China's express delivery industry (ZTO Express, Yunda, Yuantong, Shentong, Best and Shun Feng), five have become "Ali", and only Shunfeng is "on its own".China's private express industry, in Tonglu, Zhejiang Province, is the most famous. Shentong, ZTO Express, Yuantong and Yunda all come from this county and are closely related to each other. Prior to this, BABA has successively acquired or bought shares in Best, ZTO Express, Yuantong and Shentong Express.

Best is the first express company invested by BABA. When Best Logistics was founded in 2008, BABA gave 15 million yuan. With BABA taking the lead, the company also received seven rounds of financing, and BABA participated in four rounds until 2017, when Best went public in the United States. BABA joined hands with Yunfeng Fund to invest in Yuantong in May 2015. In March 2020, Cainiao converted his convertible debt into equity. After this equity change, BABA held a total of 11.59% of Yuantong through BABA Venture Capital and Cainiao's supply chain. According to the announcement, Cainiao's supply chain does not rule out the possibility of increasing its stake in Yuantong Express in the next 12 months. In May 2018, BABA announced that he would join hands with rookies.ZTO ExpressInvest $1.38 billion and hold about 10 per cent. At present, BABA holds about 8.43% of ZTO Express, making it its third largest shareholder. In March 2019, Shentong Express announced that BABA would invest 4.66 billion yuan to invest in Shentong Express's controlling shareholder company. BABA will acquire 14.65 per cent of Shentong indirectly by investing in Shentong Express's parent company at that time. Only two days later, BABA's Cainiao supply chain will hold all 2 million copies.Yuantong convertible bondConverted into shares of the company, the share capital jointly held with BABA accounts for about 11.59% of the total share capital of Yuantong Express. Why to invest a lot of money in express delivery companies, this from BABA shares Shentong can also find some answers. At that time, with regard to the purpose of the acquisition, BABA said that at present, the express delivery industry engaged in Shentong Express is in a critical development stage of a link between the past and the future and increasingly fierce competition. the changes of information, automation and intelligence are reshaping the business form and organization model of the express delivery industry. BABA, as a leading enterprise in the domestic e-commerce industry, has a high degree of industrial fit and strong synergy with listed companies; this share option arrangement will help optimize the ownership structure of listed companies and help listed companies to complete the iterative upgrading of their main business as soon as possible. help to enhance the long-term profitability of listed companies, let listed companies share the dividends brought by corporate development with all shareholders, and promote the sustainable development of listed companies.

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