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阿里宣布子公司分拆上市
BABABABA(US:BABA) 第一财经·2025-08-21 12:26

Core Viewpoint - Alibaba Group plans to spin off Zhibo Network Technology Co., Ltd. and list it independently on the Hong Kong Stock Exchange, aiming to enhance Zhibo's independent valuation and attract specific investors in the automotive system solutions sector [3][11]. Summary by Sections Company Overview - Zhibo Network Technology Co., Ltd. was established in November 2015 with a registered capital of approximately 3.2 billion RMB. The ultimate beneficiary is Zhejiang Tmall Technology Co., Ltd., holding 31.07% of the shares [8][10]. Shareholding Structure - As of the announcement date, Alibaba holds approximately 44.72% of Zhibo's shares. Post-spin-off, Alibaba will retain over 30% ownership [10][12]. Business Focus - Zhibo specializes in providing intelligent automotive operating systems and solutions, having been co-founded by SAIC Motor Corporation and Alibaba. It has been a subsidiary of Alibaba but will no longer be consolidated into the group from December 27, 2024 [11]. Financial Aspects - The IPO application was submitted on August 20, 2023, with Deutsche Bank, CICC, and Guotai Junan International as joint sponsors. The funds raised will be allocated to R&D, market expansion, capital operations, and working capital [6][12][13]. Market Potential - The global smart vehicle sales are projected to grow from 58 million units in 2024 to 86.5 million units by 2030, with a compound annual growth rate (CAGR) of 6.9%. The market for intelligent cockpit solutions in China is expected to increase from 129 billion RMB to 327.4 billion RMB, with a CAGR of 16.8% [16].