里昂：阿里巴巴-SW(09988)撤回菜鸟IPO并非完全让人意外

Group 1 - The core viewpoint of the article is that Alibaba-SW (09988) has withdrawn its IPO application for Cainiao due to strategic considerations and market conditions, which is not entirely unexpected [1] - The company plans to acquire shares of Cainiao from minority shareholders for $3.75 billion [1] - Alibaba believes that Cainiao has become an indispensable part of its e-commerce business and can establish a global logistics platform that deeply synergizes with its international e-commerce operations [1] Group 2 - Despite challenges in releasing value in the capital markets, the company remains committed to maximizing shareholder returns through stock buybacks and annual dividends [1]