文｜财天COVER 林木 编辑 | 吴跃 斥资3.62亿元，申通快递从自己的大股东——菜鸟手里，接盘了丹鸟物流。 7月25日晚，申通快递在深交所发布公告称，拟以现金方式，收购浙江丹鸟物流科技有限公司（以下简 称："丹鸟物流"）100%股权，交易对价为3.62亿元。交易完成后，丹鸟物流及其下属控股子公司将纳入 申通快递的合并报表范围。 丹鸟物流是菜鸟旗下业务"菜鸟速递"的运营主体，由浙江菜鸟供应链管理有限公司、杭州阿里创业投资 有限公司、阿里巴巴（中国）网络技术有限公司三家公司共同持股，分别持有96.15%、2.95%和0.90% 的股份。浙江菜鸟供应链管理有限公司又由菜鸟网络科技有限公司100%持股。 当初，菜鸟成立丹鸟物流，承担着阿里对标京东物流、顺丰，切入高端市场的重任。不过，平心而论， 丹鸟发展至今难言成功。 01、丹鸟为何被卖？ 从时间上看，丹鸟诞生相对较晚。在2019年的全球智慧物流峰会上，菜鸟宣布成立丹鸟这个全新的配送 服务品牌。从一开始，其业务重心和模式就有别于"通达系"，主要服务于天猫超市等阿里内部自营业 务，目的是弥补末端配送短板，提升配送时效，提供半日达、送货上门等服务，从而建立服务壁垒。 ...

Group 1 - Shentong plans to acquire 100% equity of Daniao Logistics for 362 million yuan, which is the operating entity of Cainiao's domestic express service [1] - Daniao Logistics operates 59 distribution centers and over 2,600 outlets, processing over 4 million high-value orders daily, with revenues of 12.351 billion yuan and 2.965 billion yuan for 2024 and the first four months of 2025 respectively [2] - The acquisition is expected to accelerate the establishment of a quality express network for Shentong, capturing opportunities in regional delivery and instant retail [2] Group 2 - Cainiao's decision to sell Daniao is part of a strategic focus on core businesses, allowing it to allocate more resources to international logistics, overseas express, global supply chain, and logistics technology [2] - The domestic express market is becoming increasingly competitive, and integrating Daniao with socialized network express companies may unlock growth potential [2] - Cainiao has established a significant presence in international logistics, with a cross-border parcel network covering over 200 countries and regions, and processing over 1.5 billion cross-border parcels annually [4] Group 3 - The international logistics market is expanding, with China's cross-border e-commerce imports and exports reaching approximately 1.32 trillion yuan in the first half of the year, a year-on-year increase of 5.7% [3] - The number of Chinese enterprises engaged in import and export has surpassed 628,000, marking a historical high, with private enterprises accounting for a significant portion of this growth [3] - Cainiao's logistics capabilities are enhanced by its technological advancements, such as RFID technology, which improves processing efficiency by 30% compared to traditional methods [9][10]

Group 1 - Shentong Express announced plans to acquire 100% equity of Zhejiang Daniao Logistics for a transaction price of 362 million yuan [1] - Daniao Logistics, a subsidiary of Cainiao Group, provides services such as same-day delivery and next-morning delivery, with an average daily business volume exceeding 4 million orders for 2024 and the first four months of 2025 [1][4] - The acquisition reflects a trend of accelerated mergers and acquisitions in the industry, with Shentong aiming to target the "quality express" segment amid intense price competition [1][4] Group 2 - Cainiao's self-operated express delivery has faced challenges, with a reported profit of over 20 million yuan last year, but significant competition from SF Express and JD Logistics [2] - By March 2024, Cainiao Express had rapidly expanded its network, recruiting 6,000 couriers across nearly 70 cities, establishing a quality express network with 59 distribution centers and over 2,600 outlets [4] - Despite achieving a revenue of 12.351 billion yuan in 2024, Cainiao Express reported a loss of 23 million yuan in the first four months of 2025, attributed to early-stage operational costs and seasonal industry downturns [4][9] Group 3 - Shentong's acquisition of Daniao Logistics is seen as a strategic move to enhance service quality and create a differentiated advantage in the market [7][9] - The transaction includes terms that profit from May until the closing date will belong to Shentong, while any losses will be compensated by the seller, indicating a risk-sharing approach [9] - The collaboration between Shentong and Cainiao has been established since 2023, focusing on logistics upgrades and strategic partnerships in various sectors [11]

Core Viewpoint - Alibaba Group's recent organizational restructuring has significantly impacted its logistics business, leading to the planned sale of its domestic express delivery operations under Cainiao Group to Shentong Express Co., Ltd. [3][4] Group 1: Acquisition Details - Shentong Express announced its intention to acquire 100% of Zhejiang Daniao Logistics Technology Co., Ltd. from Alibaba's subsidiaries for a cash consideration of 362 million yuan [4]. - Daniao Logistics operates as the main entity for Cainiao's self-operated express delivery brand, which was launched in June 2023 [4][5]. - The acquisition is viewed by industry insiders as a strategic business adjustment rather than a purely commercial transaction [4]. Group 2: Business Performance and Strategy Shift - Cainiao's express delivery service, despite its ambitious launch, has faced challenges, including a lack of significant contribution to overall performance and a relatively weak profitability [6][7]. - The strategic focus of Cainiao is shifting towards international express delivery and logistics technology, moving away from domestic express services [6]. - Daniao Logistics has established a network of 59 distribution centers and over 2,600 outlets, but its business volume is still in the growth phase, leading to operational losses [6][7]. Group 3: Market Impact and Future Outlook - The acquisition is expected to enhance Shentong's revenue and business scale, although Daniao's current losses and Shentong's high debt levels may pose challenges [7][8]. - The express delivery industry in China is experiencing rapid growth, with a total of 1.758 billion packages delivered in 2024, reflecting a year-on-year increase of 21.5% [7]. - The average price per express delivery package has decreased by 6.33% year-on-year to 8.01 yuan, indicating intense competition and pricing pressures within the industry [7][8].

Group 1 - Shentong Express announced the acquisition of 100% equity in Zhejiang Daniao Logistics for 362 million yuan, indicating a strategic shift towards "quality express delivery" [1] - Daniao Logistics, a subsidiary of Cainiao Group, has been operating the Cainiao Express service, which offers same-day and next-morning delivery services [1] - The acquisition reflects Shentong's ambition to enhance service quality and optimize product structure amid increasing competition in the express delivery market [4] Group 2 - Daniao Logistics reported a net loss of 230 million yuan from January to April 2025, following a profitable year in 2024, highlighting challenges in achieving scale and profitability [2] - The losses are attributed to the short operational period, high initial costs, and external factors such as seasonal industry downturns and price declines [2] - Cainiao Group is shifting focus from domestic self-operated express services to international logistics and technology, aiming to strengthen its position in higher-margin global supply chain segments [4] Group 3 - The acquisition allows for resource integration between Shentong and Daniao, aiming to optimize costs and enhance collaborative value post-transaction [4] - Following the announcement, Shentong's stock price rose by 10.03%, while Alibaba's stock experienced a decline of 1.08% [4]

菜鸟调整提速，阿里抽身快递股：物流赛道要"变 天"？ 文 | 快递观察家 "降低全社会物流成本"，中国物流业站在一个新的历史节点上。 今年以来，阿里一边忙着跟"干儿子"快递股们断舍离，一边忙着收回"亲儿子"菜鸟的股份聚焦电商核心 主业。 3月12日，圆通公告阿里通过杭州灏月减持圆通不超过2%股份，套现约9.4亿，减持后阿里持有圆通 18.62%的股份，依然是第二大股东。 另一边，2月份，菜鸟宣布阿里已全面收购其小股东的剩余持有股份，并同步向员工所持的菜鸟股权激 励实施全量退出计划。 与此同时，行业内传出菜鸟速递与申通快递加速融合的消息。也有声音认为，阿里加速甩卖快递股股 份，是为了"筹粮"助菜鸟高飞，那么菜鸟能否承载阿里的物流野心？ 重新审视菜鸟 穷则思变，菜鸟虽然未必真的穷，但却是一直在变，尤其是近两年经历了多次战略调整，可以说是阿里 集团业务战略变动最为频繁的板块。 2023年阿里1+6+N的组织架构拆分，让菜鸟开始了IPO进程，作为六大业务集团中唯一以物流为核心的 板块，承担阿里巴巴全球物流网络建设的战略任务。 亿豹网发现，彼时菜鸟年入778亿，且刚刚扭亏为盈，大家都以为菜鸟即将独当一面，但冲港折戟，集 ...

我们了解到，淘宝天猫即将正式接入京东物流，预计于 10 月中旬上线，此后淘天商家在系统中选择商品 寄送方式时，将多一个京东物流的选项。与此同时，京东也将接入菜鸟速递和菜鸟驿站 —— 两者分别是 菜鸟的自营快递品牌和代收包裹的站点。 我们还了解到，京东也将正式接入支付宝支付，预计在双 11 前夕推出。目前消费者在京东下单，默认的 支付方式排序依次为京东支付、云闪付、微信支付等。 据悉，双方在物流和支付上的合作今天都已达成一致。 这是阿里和京东两个电商平台成立 20 多年来，最大程度的一次握手。 多年来，两家公司互相对抗、提防， 用流量、佣金、补贴等争夺商家和消费者，营销舆论互相呛声，各自都建立起了物流、支付等高墙垒垒的独 立体系，一路竞争，又一起长大，然后在前几年遇上了更年轻的共同对手。 既然 淘宝都已接入微信支付 ，阿里和京东的互相开放也不让人意外。9 月 26 日，淘宝正式向消费者宣布新 增微信支付，我们了解到，微信支付预计将于 9 月底全量接入淘天商家，目前已有超九成的商家开通该服 务。 至此，中国几个最大的互联网平台各自的基础设施，差不多真正成为了通用商业基础设施。这也延续了此前 的趋势，竞争终将消解一 ...