On March 17th, it was reported that Alibaba plans to sell RT Mart and Hema to COFCO, with an estimated 10 billion yuan for RT Mart and 20 billion yuan for Hema. COFCO has already joined RT Mart's DingTalk system with senior executives.
Regarding this, Shanghai Securities News reporters have sought confirmation from various sources such as RT Mart, Hema, and individuals close to Alibaba Group, all of whom have confirmed that this is "fake news".
In response to the above rumors, RT Mart stated that the information is false, and RT Mart reserves the right to hold the rumor mongers accountable through legal means. RT Mart has also sent a lawyer's letter to some rumor mongers.
Hema insiders responded that the information was fake. According to several people close to Alibaba Group, there are currently no so-called "COFCO executives" joining the DingTalk system of RT Mart, and rumors about Alibaba's plan to sell Hema and RT Mart are not the first to spread.
At present, the listed company entity of RT Mart, Gaoxin Retail, is continuing to increase investment in member stores and accelerate store expansion. It is expected to open 5 new stores in the fiscal year 2025 and 15 stores within three years.
Wu Yongming, CEO of Alibaba Group, said at the financial report analyst meeting earlier that Alibaba would "invest more resolutely and make more decisive choices". In the future, Alibaba will have three important priority directions - technology driven Internet platform business, AI driven technology business, and global business network.
In February 2024, Alibaba Group Chairman Cai Chongxin responded to the IPO issues of Cainiao and Hema at the financial report meeting, stating that he would consider separate financing but would not act too hastily. Meanwhile, Cai Chongxin's proposal to withdraw from some non core traditional physical retail businesses has also sparked speculation in the industry about Alibaba's sale of businesses such as RT Mart and Hema.
In fact, based on the information disclosed so far, Alibaba has not yet taken any specific actions to withdraw from the relevant physical retail business.
Since December last year, Alibaba has transferred its holdings of Macalline, Fantastic Home, and ST (Suning) shares to its newly established entity, Hangzhou Haoyue Enterprise Management Co., Ltd., through internal shareholding transfer, in order to achieve the goal of "Alibaba's network highlighting its main business and independent development of non main business".
In addition, Alibaba Group's subsidiary Alibaba (China) Network Technology Co., Ltd. also holds approximately 18.00% equity in Hong Kong listed company Lianhua Supermarket (as of the 2023 semi annual report).