Will Hema be spun off and listed? Alibaba's latest response to spin off listing | launch | implementation | IPO | business | group | Alibaba | Hema
Hema Fresh or becoming the first Alibaba series spin off listing case?
Since Alibaba launched the "1+6+N" spin off and restructuring, Hema Fresh's IPO has also been quickly put on the agenda.
According to the Hong Kong Economic Daily on June 26th, Alibaba will soon seek approval from the Hong Kong Stock Exchange for the spin off of its retail platform, Hema Fresh, and will achieve its first spin off listing after restructuring as early as November this year. Hema will apply for a spin off listing in accordance with the listing rules in the next two weeks at the earliest, with an expected IPO in November.
In response to the above news, Alibaba has put the IPO of securities firms in China on the agenda
In March of this year, Alibaba announced the "1+6+N" reform, and Cloud Intelligence Group will be completely spun off and independent from Alibaba to go public. Cainiao and Hema launched their listing plans, Alibaba International Digital Business Group launched external financing, and the six major business groups officially established their boards of directors.
According to the schedule disclosed at that time, Hema's initial public offering plan will be completed within the next 6 to 12 months. If Hema Fresh completes its IPO in November, it may become the first instance of a spin off listing after Alibaba's restructuring.
Hou Yi, the founder and CEO of Hema, issued a letter to all employees at the beginning of this year stating that Hema New Retail has entered a mature stage, and its various business models have completed 200 store layouts. Hema Fresh, the main business model, has achieved profitability first. Subsequently, in April, he once again revealed to the outside world that Hema had achieved comprehensive profitability in the fourth quarter of last year and the first quarter of this year.
According to the "2022 China Chain Top 100" list released by the China Chain Management Association on June 14th, Hema Fresh's sales revenue for the entire year of 2022 was 61 billion yuan, with nearly 300 stores. It is understood that currently, Hema Fresh Store, X Member Store, and Hema Ole are the main business formats of Hema.
From the perspective of Hema's business dynamics, on June 5th, it announced the official establishment of the Sustainable Development Department. Shen Li, co-founder of Hema, expressed her hope to delve into the industry and leverage its positive impact on the environment and society, innovating and exploring the sustainability of agriculture and production.
The new business group has basically taken shape
Since the beginning of this year, there have been constant news about the business reform of Alibaba Group, and "change" seems to be the main theme that runs through the group this year.
On June 20th, Zhang Yong, Chairman and CEO of Alibaba Holdings Group, announced through a letter from all employees that Alibaba's self transformation is progressing smoothly and steadily. A new business cluster of 1+6+N has basically taken shape, and the boards of directors of various business groups have begun to operate. Multiple business listing and financing plans have also been launched.
As early as March 28th this year, Zhang Yong, Chairman and CEO of Alibaba Group, issued a letter from all employees stating that "Only through self transformation can we create the future", initiating a new round of corporate governance reform.
According to the plan at that time, under the Alibaba Group, six major business groups and multiple business companies will be established, including Alibaba Cloud Intelligence, Taobao and Tmall Business, Local Life, International Digital Business, Cainiao, and Da Wen Yu.
Business groups and business companies will establish separate boards of directors and implement a CEO responsibility system under the leadership of the boards of directors of each business group and business company. Alibaba Group will fully implement the management of holding companies.