Alibaba announced today that it will distribute annual dividends for the first time in the 2023 fiscal year, with amounts of $0.125 per ordinary share or $1.00 per American depositary share, to be paid in US dollars. According to the financial report, the total dividend amount is approximately $2.5 billion (approximately RMB 18 billion).
The conversion between Alibaba ordinary shares and American depositary shares will be suspended during the closing period of the New York market from December 15, 2023 to December 21, 2023. During this period, Alibaba's common stock trading on the Hong Kong Stock Exchange and its American Depositary Stock trading on the New York Stock Exchange were not affected and proceeded normally.
Alibaba will distribute annual dividends for the first time
Alibaba announced on December 6th that it will distribute annual dividends of $0.125 per ordinary share or $1.00 per American depositary share to holders of ordinary shares and American depositary shares registered as of the close of Hong Kong time and New York time on December 21, 2023, for the first time in the fiscal year 2023, in US dollars.
According to the financial report, the total dividend amount is approximately $2.5 billion. According to the standard operating procedures of the depositary bank, in order to ensure accurate statistics and distribution of dividends, and protect shareholder rights, the conversion between Alibaba's ordinary shares and American depositary shares will be suspended from the closing time of the New York market on December 15, 2023 to the closing time of the New York market on December 21, 2023. During this period, Alibaba's common stock trading on the Hong Kong Stock Exchange and its American Depositary Stock trading on the New York Stock Exchange were not affected and proceeded normally.
The announcement shows that the expected dividend payment date for common stock holders will be around January 11, 2024, while the expected payment date for American depositary stock holders will be around January 18, 2024.
On November 16th, Alibaba announced in the second quarter of the 2024 fiscal year (i.e. the third quarter of 2023) that its board of directors has approved the distribution of cash dividends for the 2023 fiscal year, with a total dividend amount of approximately $2.5 billion; At the same time, Alibaba continues to implement its share repurchase plan, continuously improving shareholder returns, demonstrating its firm confidence in business fundamentals and future development.
Alibaba's latest net profit level has significantly turned losses year-on-year. According to financial report data, in the third quarter of 2023, Alibaba Group's operating revenue was 224.79 billion yuan, a year-on-year increase of 8.5%; Adjusted EBITA increased by 18% year-on-year to 42.845 billion yuan; The net profit attributable to ordinary shareholders was 27.706 billion yuan, a significant turnaround compared to the same period last year.
Alibaba also stated that it will temporarily suspend Hema's IPO plan and will no longer completely spin off Alibaba Cloud.
Alibaba Network Fades Out of A-share Investment Landscape
In order to achieve the goal of "highlighting the main business and independent development of non main business", Alibaba (China) Network Technology Co., Ltd. (referred to as "Alibaba Network") recently transferred the equity of its 7 A-share listed companies to the newly established Alibaba based company - Hangzhou Haoyue Enterprise Management Co., Ltd. (referred to as "Hangzhou Haoyue").
Industry insiders say that Alibaba Network's adjustment of the shareholding path of A-share participating companies is in line with Alibaba's positioning of transforming into a "holding company management model" after the "1+6+N" adjustment, which is conducive to optimizing the layout and structure of Alibaba's investment landscape.
On the evening of December 1st, Yuantong Express, Macalline, and Liren Beauty announced a change in equity, stating that Alibaba Network will transfer its shares in the listed company to the newly established concerted action company Hangzhou Haoyue. After the transaction is completed, Alibaba Network will no longer directly hold shares in the listed company.
On the evening of December 3rd, Meinian Health, Qianfang Technology, Focus Media, and surprisingly Home also released relevant transaction announcements.
According to relevant announcements, Hangzhou Haoyue was established in October this year, and its equity structure is consistent with Alibaba Network. Taobao (China) Software Co., Ltd. holds 57.5947% of the shares; Zhejiang Tmall Technology Co., Ltd. holds 35.7470% of the shares; Alibaba. com China Limited holds 6.6583% of the shares.
It should be noted that the current separation and equity transfer do not affect the overall equity of the listed company. After the separation, the shareholders and shareholding ratios of the surviving and newly established companies will be consistent with those of Alibaba Network.
For example, Macalline announced that Alibaba Network will transfer all 248 million shares of the company to Hangzhou Haoyue for inheritance. After the completion of this equity change, Alibaba Network will no longer hold any shares in Macalline, and Hangzhou Haoyue will hold 5.7% equity in Macalline. Hangzhou Haoyue, together with Alibaba Software, Taobao Holdings, and New Retail Fund, has formed a concerted action group, holding a total of 435 million shares of Macalline, accounting for approximately 9.9976% of Macalline's total share capital.
Industry insiders believe that if Alibaba Network focuses on the independent development of its main and non main businesses, each performing its own duties, improving operational efficiency, further realizing asset preservation, appreciation, and sustainable development, and building a competitive enterprise, the equity of other companies held by Alibaba Network may also change.
The announcement of the relevant company also clarifies that this equity change has not resulted in a change in the actual controller of the company, and will not have an impact on the actual control, corporate governance structure, and continuous operation of the company. The corresponding commitments and binding measures (if any) related to the target shares will continue to be fulfilled by Hangzhou Haoyue.
Alibaba keeps moving
Since the beginning of this year, Alibaba Group has been taking continuous actions.
On March 28th of this year, Alibaba launched the largest organizational change in its 24 year history, with Alibaba Group breaking down into several independent companies known as "1+6+N.".
Zhang Yong, then Chairman and CEO of Alibaba Group, issued a letter to all members, stating that he will further deepen the transformation and move towards a new stage of organizational governance - building a "1+6+N" organizational structure. Under the Alibaba Group, six major business groups and multiple business companies will be established, including Alibaba Cloud Intelligence, Taobao Tmall Business, Local Life, Cainiao, International Digital Business, and Da Wen Yu. The CEO responsibility system will be implemented under the leadership of the boards of directors of each business group and company, while Alibaba Group will fully implement the management of a holding company.
At that time, Zhang Yong said, "Every Alibaba person, no matter which business group or company you are in, must return to the state of an entrepreneur before starting, accept the baptism of the market with their passion and strength, and create their own tomorrow. We believe that the market is the best touchstone, and in the future, business groups and companies that meet the conditions will have the possibility of independent financing and listing."
"I hope Alibaba can grow several listed companies in the future, and after several years, these companies can have more children and more listed companies. Only in this way can Alibaba's business truly prosper." Zhang Yong once said.
On September 10th, Wu Yongming was appointed as the CEO of Alibaba Group, while also serving as the Chairman of Taotian Group and the Chairman and CEO of Alibaba Cloud Intelligence Group, and positioning Alibaba as a "technology platform enterprise".
On November 16th, Alibaba Group disclosed its financial report, stating that the expansion of restrictions on the export of advanced computing chips by the United States has brought uncertainty to the prospects of Cloud Intelligence Group. Given various uncertain factors, Alibaba will no longer promote the spin off and listing of Alibaba Cloud. Alibaba will resolutely increase its continuous strategic investment in Alibaba Cloud to ensure that Alibaba Cloud focuses on the development strategy of "AI+cloud computing", Build cloud computing services that are technologically advanced in the AI era. In addition, Hema's initial public offering plan is temporarily suspended, while Cainiao applies for a Hong Kong IPO and submits application documents; Alibaba International Digital Business Group is preparing for external financing.
In addition, recently, Pinduoduo's stock market value surpassed that of Alibaba. Prior to this, Jack Ma responded to a post from an Alibaba employee regarding the market value of Pinduoduo, requesting constructive feedback and suggestions from everyone. Especially innovative ideas. I believe today's Alibaba people are all watching and listening. I firmly believe that Alibaba will change, and Alibaba will change. All great companies were born in winter. The era of AI e-commerce has just begun, and it is both an opportunity and a challenge for everyone. Jack Ma said, "Congratulations to Pinduoduo on its decisions, execution, and efforts over the past few years. Everyone has done well, but only those who can reform for tomorrow's Tianniu and are willing to pay any price or sacrifice are respected. Returning to our mission and vision, Alibaba people, come on!"
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