On November 6th, Baishi Group announced that its board of directors had received a preliminary non binding offer from a buyer consortium composed of Alibaba, Cainiao Network, and founder Zhou Shaoning to acquire all issued common shares. A person familiar with the situation told 21st Century Economic Report that this is a conventional privatization process for Baise and does not affect the normal operation of its business, nor is it a takeover by Alibaba or Cainiao.