On the evening of September 1, YTO Express issued an announcement. In order to further strengthen the capital cooperation link between the company and Alibaba Group, enhance the customer service capabilities and global comprehensive service capabilities of both parties, the company’s controlling shareholder Jiaolong Group As well as Yu Huijiao and Zhang Xiaojuan, they signed a "Share Transfer Agreement" with Ali Network, an enterprise within the Alibaba Group, and planned to transfer 379 million shares to Ali Network at 17.406 yuan per share. The total transfer price was 6.6 billion yuan, accounting for 10% of the total shares of YTO Express. 12%.

After the transfer is completed, Jiaolong Group, Yu Huijiao, Zhang Xiaojuan, and Shanghai Yuanding still collectively hold 1.316 billion shares of YTO Express, accounting for 41.65% of the company’s total shares. Jiaolong Group is still controlled by YTO Express Shareholders, Yu Huijiao and Zhang Xiaojuan are still the actual controllers of the company.

Alibaba Networks, Alibaba Venture Capital, and Cainiao Supply Chain are all enterprises within the Alibaba Group and are persons acting in concert. They hold a total of 711 million shares of YTO Express, accounting for 22.5% of the company's total shares. The second largest shareholder.

Alibaba increased its 12% stake in YTO for RMB 6.6 billion

As early as 2005, YTO was the first franchised express delivery service provider to access Taobao. At that time, YTO’s business volume Also due to the surge in "Taobao free shipping".

YTO accepted investment from Alibaba in 2015, only later than Alibaba’s investment in Best in the logistics field. In May 2015, Alibaba announced that it would join forces with Yunfeng Fund to make a strategic investment in YTO. In 2016, YTO Express completed a backdoor listing. The 2016 YTO Express annual report showed that Alibaba's Alibaba Ventures held about 11.09% of YTO Express's shares, and Yunfeng Xinchuang, a subsidiary of Yunfeng Fund, held 6.43%.

As of the 2020 mid-term report, Alibaba Ventures still holds 313 million shares of YTO Express, with a shareholding ratio of 9.89%, and has not reduced its holdings of YTO shares; Yunfeng Xinchuang’s shareholding has dropped to 105 million shares, The shareholding ratio is 3.33%. According to Alibaba’s financial report, Cainiao Supply Chain holds 0.65% of YTO Express.

This time Alibaba Networks increased its stake in YTO Express by 12%, and Alibaba’s total holding of YTO Express shares will reach 22.5%.

According to the announcement, the strategic cooperation between YTO Express, Alibaba and Cainiao focuses on globalization and digitalization.

In terms of globalization, YTO currently has 12 all-cargo aircraft. Since the epidemic, it has been deeply involved in the operation of Cainiao’s global parcel network, flying Cainiao’s foreign trade and anti-epidemic transportation to Malaysia, Pakistan and other places. The world-class logistics hub jointly built by YTO and Cainiao in Hong Kong is also under rapid construction.

In terms of digitalization, YTO and Cainiao will jointly develop and operate advanced express logistics equipment, establish intelligent logistics big data applications, and further enhance the digitalization and intelligence level of YTO's business operations.

At the same time, Alibaba stated that it will further support the comprehensive development of YTO Express with Yu Huijiao as the chairman of the board of directors in the future, strengthen cooperation in capital, industry, technology and other aspects, and promote the high-quality development of YTO Express.

Yang Daqing, a special researcher of the China Society of Logistics, said: "Alibaba and YTO have been cooperating for more than 10 years, and it is natural for them to continue to cooperate. The proportion of Alibaba's increase in YTO's holdings is lower than previously expected by the outside world, and the founders of YTO account for It is still more than 41%, and it is still the actual controller. This is also what Alibaba and YTO are willing to accept. ”

The logistics industry is experiencing frequent disruptions

It is not just YTO, as of now, China’s express delivery market. Several major logistics companies, STO, ZTO, Best, and Yunda, all have Alibaba behind them.

The first company to be included in Alibaba’s logistics ecosystem was Best Group. Best had received multiple rounds of investment from Alibaba before going public. Wind data shows that as of June 2020, Alibaba’s shareholding in Best Group Its total share capital increased to 33%.

In May 2018, Alibaba, Cainiao and others invested US$1.38 billion in ZTO Express. Wind data shows that as of the end of March 2020, Alibaba directly held approximately 8.7% of ZTO Express’ shares.

In March 2019, STO Express also announced that Alibaba would indirectly hold 14.65% of its equity with an investment of 4.66 billion yuan. Subsequently, Alibaba signed an equity option agreement with the actual controller of the company. If the rights are exercised, If all share options are exercised during the period, Alibaba’s shareholding ratio in STO will reach 46%.

On April 30 this year, the 2019 annual report of Yunda Shares disclosed that Alibaba Venture Capital also appeared among the top ten shareholders of Yunda Shares, currently holding 2% of the shares.

On the other hand, JD.com is also increasing its layout of express logistics.

On the morning of August 14, JD.com Group announced that the company’s subsidiary JD Logistics will acquire Yuan Express, a modern comprehensive express company specializing in “limited-time express services” in China, for 3 billion yuan. controlling interest. The transaction is expected to close in the third quarter of 2020. JD Logistics and Yueyu Express have also reached a strategic cooperation.

Founder Securities believes that based on differences in e-commerce traffic, China’s express delivery industry can be divided into three major groups: Cainiao, Jingteng and SF Express. Among them, the essence of the competition between Cainiao Network and SF Express is the competition of strategic layout, the essence of the competition with JD Logistics is the competition of business flow, and the essence of the competition with Tongda is a mutually beneficial cooperation relationship with a clear division of labor. In the huge market space, each of the three major armies has its own unique growth opportunities.