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ALIBABA GROUP HOLDING LIMITED

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Alibaba : Logistics Arm Partners With New York-Listed BEST for China-Malaysia Services

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09/23/2020 | 01:44am EDT

By Yifan Wang

Cainiao Network Technology Co., the logistics arm of Alibaba Group Holding Ltd., will partner with New York-listed logistics-solutions provider BEST Inc. to launch a delivery service connecting China and Malaysia.

The action comes as Chinese tech giants face increasing hurdles to expand in the American market amid U.S.-China tensions.

The partnership, covering customs clearance, sea freight forwarding, overseas warehousing and last-mile delivery, will shorten delivery time for cross-border parcels between China and Malaysia, the companies said in a joint statement Wednesday.

"The establishment of a direct Malaysia-China e-commerce logistics service is continued affirmation of our investment into the region," Cainiao general manager James Zhao said.

 

Write to Yifan Wang at yifan.wang@wsj.com

 


Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING LIMITED -2.52% 304.69 Delayed Quote.43.65%
BEST INC. -9.82% 2.57 Delayed Quote.-53.78%
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Financials
Sales 2021 673 B 101 B 101 B
Net income 2021 150 B 22 353 M 22 353 M
Net cash 2021 422 B 62 998 M 62 998 M
P/E ratio 2021 38,4x
Yield 2021 -
Capitalization 5 659 B 846 B 846 B
EV / Sales 2021 7,78x
EV / Sales 2022 5,96x
Nbr of Employees 120 535
Free-Float 99,7%
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Mean consensus BUY
Number of Analysts 51
Average target price 2 276,13 CNY
Last Close Price 2 038,96 CNY
Spread / Highest target 27,8%
Spread / Average Target 11,6%
Spread / Lowest Target -4,85%
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Managers
NameTitle
Yong Zhang Executive Chairman & Chief Executive Officer
John Michael Evans President & Director
Wei Wu CFO, Director & Head-Strategic Investments
Li Cheng Chief Technology Officer
Chung Hsin Tsai Executive Vice Chairman
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