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The China News Database was last updated at 01:50PM on November 9, 2023.
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1,796 articles matching the search query.
Alibaba considers yielding control of some businesses in overhaul
Alibaba Group said on Thursday it will look to monetise non-core assets and consider giving up control of some businesses, as the Chinese tech conglomerate reinvents itself after a regulatory crackdown that wiped 70% off its shares. Group CEO Daniel Zhang said the company's breakup into separate businesses will allow its units to become more agile and eventually launch their own initial public offerings (IPO). His comments come two days after Alibaba announced the largest restructuring in the company's history, which will see it change into a holding company structure with six business units, each with their own boards and CEOs.
Softbank Group to report $2.7 billion gain after Alibaba shares sale
Softbank Group said on Thursday it will recognise a 359.6 billion yen ($2.72 billion) gain on the sale of investment securities in its parent-only financial results for the financial year ending Friday. This follows the sales of Alibaba Group Holdings shares to Softbank's wholly owned subsidiary Shiodome Project 17 GK. ($1 = 132.3100 yen)
Alibaba to consider giving up control of operating companies - CEO
By Geoffrey Smith
UPDATE 3-SoftBank to book $2.7 bln gain for Alibaba share transfer
SoftBank Group said on Thursday it would recognise a 359.6 billion yen ($2.7 billion) gain from the transfer of a stake in Alibaba Group Holdings to a wholly-owned subsidiary called Shiodome Project 17 GK. Chinese e-commerce giant Alibaba's shares jumped on Wednesday after it said it would split into six units and explore fundraisings or listings for most of them, marking the biggest restructuring in its 24-year history. SoftBank said the transfer of 178.7 million Alibaba shares from the group holding company was to "improve management efficiency through the centralized management of these shares, in light of the potential to use them for financing in the future."
Alibaba Weighs Ceding Control of Some Businesses Over Time
(Bloomberg) -- Alibaba Group Holding Ltd. will consider gradually giving up control of some of its main businesses, after completing a major overhaul to create six new companies that may debut on public markets.Most Read from Bloomberg$52 Billion Chipmaking Plan Is Racing Toward FailureNew Yorkers Are Moving to These Three Florida Cities$335,000 Pay for ‘AI Whisperer’ Jobs Appears in Red-Hot MarketScotiabank Economist Excoriates Trudeau, Freeland Over $32 Billion Spending BoostFBI Releases Files
Alibaba restructuring to enhance decision-making, CEO says
Alibaba Group's restructuring will allow all business units to become more agile, and enhance faster decision-making and faster responses to market changes, the tech conglomerate's Chief Executive Daniel Zhang said on Thursday. Alibaba began laying the groundwork for the restructuring over the past few years, he told a conference call. Zhang's comments come two days after Alibaba announced its largest restructuring in the company's history, which will see it change into a holding company structure with six business units, each with their own boards and CEOs.
China ETFs Surge on Alibaba Breakup Plan
The company hopes to unlock value by breaking itself up into six smaller parts.
Alibaba's Cainiao Logistics Division Prepares For IPO By 2023 - Alibaba Group Holding (NYSE:BABA)
Alibaba Group Holding Limited's (NYSE: BABA) logistics arm Cainiao Network Technology Co is gearing up for its Hong Kong initial public offering, becoming the first Chinese tech firm's six business units to go public.
Alibaba to turn into an ‘asset and capital operator’ after overhaul, CEO says
Daniel Zhang, Alibaba’s chairman and chief executive, said the group will initially retain control over the boards of the six new companies created under its restructuring plan.
Alibaba is prepared to let go of some of the six businesses it’s spinning off
The moves to slim down Jack Ma’s giant will likely appease Chinese authorities
Xometry Brings Instant Quoting To Alibaba Group's 1688.com On-Demand Manufacturing Services - Xometry (NASDAQ:XMTR)
Xometry's AI-Powered Instant Quoting Engine Is Exclusive Provider Of Real-time Pricing, Lead Times on 1688.comThe Integration Will Help Chinese Companies Instantly Source Suppliers For Critical Manufacturing
Alibaba considers relinquishing control of standalone units after major restructuring · TechNode
Alibaba will evaluate “whether to retain or relinquish control” of its six standalone units after they are listed, executives have said.
Alibaba CFO Hints Ceding Control Of Spinoffs After Potential IPOs - Alibaba Group Holding (NYSE:BABA)
Close on the heels of announcing a corporate reorganization, Alibaba Group Holding Limited's (NYSE: BABA) man
Alibaba tells investors its overhaul will make the business more 'agile' with market changes
"We believe this will allow all of our businesses to become more agile ... and respond faster to market changes," CEO Daniel Zhang told investors.
Alibaba Weighs Ceding Control of Some Businesses After Major Overhaul
China’s online commerce leader unveiled plans earlier this week to split its $250 billion empire six ways
Alibaba says it will consider giving up business groups after IPOs
Group aims to become 'more agile,' but Hong Kong primary listing plan in limbo
