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MarketScreener Homepage  >  Equities  >  SHANGHAI STOCK EXCHANGE  >  YTO Express Group Co Ltd    600233   CNE0000012J8

YTO EXPRESS GROUP CO LTD

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Alibaba invests $693 million for stake in Chinese courier STO Express

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03/10/2019 | 11:55pm EDT
FILE PHOTO: Workers unload parcels from a truck at a distribution hub of the Chinese delivery company Shentong (STO) Express in Beijing

SHANGHAI (Reuters) - Alibaba Group Holding Ltd will take a 14 percent stake in STO Express Co Ltd through a $693 million deal, the e-commerce giant's fourth significant investment in a Chinese courier company.

Shares in STO Express shot up when trading opened and immediately hit the upper 10 percent limit on the Shenzhen Stock Exchange, according to Refinitiv data.

STO Express said in a statement on Monday its controlling shareholder planned to set up a new subsidiary that will own a 29.9 percent stake in the courier firm.

Alibaba will in turn invest 4.66 billion yuan ($693.44 million) for a 49 percent stake in the new subsidiary, and by extension hold more than 14 percent of STO Express, the statement said.

Alibaba, in a separate statement, confirmed its investment in "one of the top five express delivery companies in China".

"We will deepen our existing collaboration with STO in technology, last-mile delivery across China and New Retail logistics," it said.

"This investment is a step forward in our pursuit of the goal of 24-hour-delivery anywhere in China and 72 hours globally," Alibaba added.

STO Express is Alibaba's fourth investment in the Chinese courier sector after it acquired minority stakes in YTO Express Group Co Ltd, Best Inc and ZTO Express (Cayman) Inc.

STO Express is one of several companies that works with Alibaba under Cainiao, its logistics division launched in 2013.

Cainiao provides software and shares data with warehouses, carriers and other logistics companies that help deliver packages to shoppers on Tmall and Taobao, Alibaba's largest e-commerce sites.

Cainiao works with a number of logistics companies to ensure packages are delivered and vendors paid, but relationships between Cainiao and its partners have at times been uneasy.

In 2017, Cainiao temporarily barred Chinese courier SF Express from taking deliveries from Alibaba's e-commerce vendors in a dispute over the ownership of customer data.

(Reporting by Josh Horwitz and Hong Kong newsroom; Editing by Darren Schuettler)

By Josh Horwitz

Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING -1.39% 158.1 Delayed Quote.15.34%
STO EXPRESS CO LTD End-of-day quote.
YTO EXPRESS GROUP CO LTD -1.38% 12.11 End-of-day quote.21.10%
ZTO EXPRESS (CAYMAN) INC (ADR) 0.43% 18.61 Delayed Quote.17.56%
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Financials (CNY)
Sales 2019 33 191 M
EBIT 2019 2 486 M
Net income 2019 2 236 M
Finance 2019 3 680 M
Yield 2019 1,30%
P/E ratio 2019 15,88
P/E ratio 2020 13,38
EV / Sales 2019 0,90x
EV / Sales 2020 0,72x
Capitalization 33 687 M
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 17
Average target price 13,1  CNY
Spread / Average Target 9,7%
EPS Revisions
Managers
NameTitle
Hui Jiao Yu Chairman & President
Yan Ming Wang Chairman-Supervisory Board
Kai Lin Chief Financial Officer & Vice President
Guo Gang Chen Independent Director
Zhi Xian Yu Director & Vice President
Sector and Competitors
1st jan.Capitalization (M$)
YTO EXPRESS GROUP CO LTD21.10%5 406
S.F. HOLDING CO LTD--.--%19 218
ZTO EXPRESS (CAYMAN) INC (ADR)17.56%14 206
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OESTERREICHISCHE POST AG-0.33%2 269
SINGAPORE POST LIMITED3.28%1 546