Alibaba Group recently released its financial report for the second quarter of the 2024 fiscal year. Cainiao achieved a revenue of 22.823 billion yuan this quarter, a year-on-year increase of 25%, and an adjusted EBITA of 906 million yuan, indicating continued improvement in profitability.
Compared to the quarterly financial reports of major domestic logistics companies, Cainiao's 25% growth rate ranks first in the industry.
The reporter further learned from Alibaba's financial report and subsequent analyst conference calls that although the complete separation of Cloud Intelligence Group is no longer advancing and the IPO plan of Hema Fresh is temporarily postponed, the Cainiao IPO is still in normal progress. After submitting its IPO application on September 26th, Cainiao has recently received feedback from the China Securities Regulatory Commission requesting supplementary materials, which is the usual process for companies to go overseas for issuance and listing.
At the financial report conference call, Alibaba Group Chairman Cai Chongxin said, "We are full of confidence in Cainiao's business fundamentals
In this Alibaba financial report, international e-commerce business has surged, and it has formed synergy and synergy with Cainiao's global smart logistics, which is expected to become a new round of growth engine for Alibaba in the future. Alibaba's financial report also shows that cross-border e-commerce logistics is a strong driving force for novice growth. Cainiao mentioned in its prospectus that based on the number of cross-border e-commerce packages processed in 2022, Cainiao is already the world's largest cross-border e-commerce logistics company.