Alibaba Group has announced an additional investment of RMB23.3bn (US$3.3bn) to increase its equity stake in Cainiao Smart Logistics Network Limited from approximately 51% to approximately 63%.
“Cainiao strives to enhance service and user experience for merchants and consumers through superior technology and digital solutions, both within China and around the world. We are committed to supporting its ongoing development, to realizing greater synergies throughout the entire Alibaba economy and accelerating digitization of the logistics industry,” said Daniel Zhang, Alibaba Group executive chairman and CEO.
The additional investment from Alibaba Group is a vote of confidence in Cainiao. With more financial resources, Cainiao will be able to continue its investment in technologies and logistics infrastructure services to strengthen its smart logistics network and enable innovations in business models, services and technological capabilities for the entire industry.