Cainiao definition
Examples of Cainiao in a sentence
The Founder will hold all of Class C ordinary shares, Alibaba and Cainiao will hold all of Class B ordinary shares and all other shareholders will hold Class A ordinary shares.
Following the completion of the Proposed Spin-off, Alibaba Retained Group will continue to operate its existing principal businesses, which include, among others, Taobao and Tmall Group, Alibaba International Digital Commerce Group, Cloud Intelligence Group, Local Services Group, and Digital Media and Entertainment Group, other than the businesses operated by Cainiao Group.
The businesses of Alibaba Group Holding Limited and its subsidiaries are comprised of China commerce, international commerce, local consumer services, Cainiao logistics services, cloud services, digital media and entertainment and innovation initiatives and others.
In September and November 2019, we purchased additional equity interest in Cainiao Network for a cash consideration of US$3,482 million.
Cainiao Network, our consolidated subsidiary that operates a logistics data platform and global fulfillment network that primarily leverage the capacity and capabilities of logistics partners.
Cainiao is a global leader in e-commerce logistics and provides innovative logistics services and solutions to merchants and brands, e-commerce platforms, consumers and logistics companies in China and around the world.
Upon the completion of these transactions, our equity interest in Cainiao Network increased from approximately 51% to approximately 66%.
The Proposed Spin-off is subject to, among other things, the obtaining of an approval from the Listing Committee of the Hong Kong Stock Exchange for listing of, and permission to deal in, the Cainiao Shares, the completion of the filing with the China Securities Regulatory Commission for the listing and offering of Cainiao Shares and the final decisions of the Board and of the board of directors and shareholders of Cainiao, as applicable.
Cainiao is an exempted company incorporated in the Cayman Islands with limited liability on May 20, 2015.
In addition and without prejudice to any provision under Sections 6.1 and 6.2, the obligations of the Company to consummate the issuance of respective Purchased Shares to Cainiao, YF and/or NRF at the Closing are subject to the consummation of issuance of the Purchase Shares set forth opposite Alibaba’s name on Schedule 1 (or as adjusted in accordance with Section 2.2) at the Closing; provided that the obligations of each Investor at the Closing are several and not joint or joint and several.