In the evening of April 9, Yuantong Express Co., Ltd. (Yuantong Express, 600233.SH) issued an announcement saying that on April 9 it received Hangzhou Alibaba Venture Capital Co., Ltd. (hereinafter referred to as “Ali” “Venture Capital”) notice, in order to cooperate with the optimization and adjustment of the internal structure of Alibaba Group, enhance the equity stability and appropriateness of governance of Alibaba Capital, and promote the institutionalization of the governance structure, Alibaba Ventures shareholders Ma Yun, Xie Shihuang and Hangzhou Zhenxi Investment Management Co., Ltd. (hereinafter referred to as “Hangzhou Zhenxi”) signed the “Equity Transfer Agreement”, stipulating that Ma Yun and Xie Shihuang would transfer 80% and 20% of the equity held by Alibaba Ventures to Hangzhou Zhenxi.
This news was also disclosed in the announcement issued by Beijing Light Media Co., Ltd. (Light Media, 300251) on the evening of April 9. The light media announcement stated that the company’s shareholding of more than 5% of the shareholders of Hangzhou Alibaba Venture Capital Co., Ltd. (hereinafter referred to as “Alibaba Venture Capital”) has been transferred to Hangzhou Zhenxi Investment Management Co., Ltd. Previously, Jack Ma held 80% of Alibaba Ventures and Xie Shihuang held 20% of Alibaba Ventures.
Public information shows that Hangzhou Zhenxi Investment Management Co., Ltd. was established in November 2017, and its business scope includes investment management and investment consulting. Tianyanzha revealed that the company 100% controlled Alibaba Cloud Computing Co., Ltd., Hangzhou Alibaba Technology Co., Ltd., Zhejiang Taobao Network Co., Ltd. and other seven Alibaba enterprises.
According to media reports, Qixinbao information shows that Hangzhou Zhenxi ’s shareholders include Hangzhou Zhenqiang Investment Management Partnership (hereinafter referred to as Hangzhou Zhenqiang) and Hangzhou Zhensheng Investment Management Partnership (hereinafter referred to as Hangzhou Zhensheng), both of which hold 50% of the shares. The shareholders of Hangzhou Zhenqiang and Hangzhou Zhensheng include Zhang Yong, Zhao Ying, Zheng Junfang, Shao Xiaofeng, etc., all of whom are senior executives of Ali or its subsidiaries.
After the completion of this equity transfer, the shareholders of Ali Ventures changed from natural persons to limited liability companies, and Hangzhou Zhenxi will hold 100% equity of Ali Ventures. The actual control relationship of Alibaba Ventures has not changed, and it is still an enterprise within the Alibaba Group. Alibaba Ventures and Zhejiang Cainiao Supply Chain Management Co., Ltd. (hereinafter referred to as the “Cainiao Supply Chain”) are still parties in concert.
Specifically, Ma Yun transferred 80% equity of Alibaba Ventures to Hangzhou Zhenxi (corresponding to Alibaba Ventures ’registered capital of RMB 28 million); Transferred 20% equity of Alibaba Ventures (corresponding to Alibaba Ventures’ registered capital of 52 million yuan). As the consideration for the equity transfer, Hangzhou Zhenxi should pay RMB 200 million to Ma Yun5. Pay 52 million yuan to Xie Shihuang. On the day after the relevant delivery conditions agreed between the transferor and Hangzhou Zhenxi are satisfied or abandoned (the “delivery date”), the transferor and Hangzhou Zhenxi will deliver. The delivery date is April 9, 2020. Hangzhou Zhenxi shall pay equity consideration to the transferor within 60 business days after the delivery date or within other timeframes agreed with the transferor.
Alibaba Ventures, as the major shareholder of 5% or more of Yuantong, holds 312,996,335 unrestricted shares of Yuantong Express, accounting for about 9.89% of Yuantong Express ’s total share capital Ren Cainiao’s supply chain holds a total of 331,635,663 unrestricted circulating shares of Yuantong Express, accounting for approximately 10.48% of Yuantong Express’s total share capital.
In this equity change, the shares held by Alibaba Ventures and its concerted action rookie supply chain held by Yuantong Express have not changed. The announcement stated that this change in equity will not cause the company’s controlling shareholder and actual controller to change, and will not affect the company’s shareholding structure and distribution.
It is worth noting that Hangzhou Zhenxi mentioned in the simplified equity change report that it does not rule out the increase in shares of Yuantong Express in the next 12 months according to circumstances may. Earlier, the short-term equity change report released by Cainiao due to holding Yuantong Convertible Bonds to Shares and increasing the holding of Yuantong Express also stated that it did not rule out the possibility of further increasing its holding in Yuantong. Capital cooperation.