Core tip:Alibaba whether successful privatization ,there still exist many uncertain factors .If the vote of shareholders over 75% successful ,otherwise the privatization failure .Hou Jiyong Beijing reported that Alibaba ( micro-blog ) ( 1688.
HK ) of a responsible to shareholders ,whether for its privatization escort ?In February 21st, a likely to become the 2012 China Internet annual event transactions ,with the tip of the iceberg .
Alibaba said the announcement, the parent company of Alibaba group received a cash offer ,will be comprehensive to acquire their shares ,thus realizes to the listed company privatization .
Alibaba group chief Ma Yun ( micro-blog ) on the privatization of listed companies Alibaba will very firm ,at the same time for outside countless speculation ,including 19000000000 Hong Kong dollar privatization fund allocation ,how to repay the debt financing ,privatization and restructuring Yahoo! Stock correlation is high ,then the Alibaba group to recombine appear on the market or making new seed business ?Of broken bureau of test if privatization is not possible ,the two output up to now ,Alibaba whether successful privatization ,there still exist many uncertain factors .
In February 23rd ,the investment of partner Ge Xuehui accepts newspaper reporter when the interview indicated ,in general ,the announcement after a period of time ,the company needs to issue the circular to shareholders ,and then held a special general meeting of shareholders for approval ,everything went smoothly after the announced withdrawal ,then send the check to the shareholders .
Companies because of the actual situation for varying lengths of time ,generally within 2 to 4 months .If the vote of shareholders of more than 75% ,is the successful privatization ,or privatization failure .
In fact ,in 2009, Hongkong science and technology shares PCCW privatization efforts ,because small shareholders against failure .For the Alibaba of privatization ,controversial points is one of the 13.
5 dollar price is reasonable .According to Alibaba Disclosure Notice ,the price is in February 9th the company before the suspension of the last 60 trading days of the average closing price premium of 60.
4% ,than last 10 trading days average 55.3% premium over the closing price .The premium rate than previously capital market are 20% to 30% expected .But for ordinary investors, the price and Alibaba original issue price compared with no premium ,which is also the individual has veiled criticism .
To this, Ge Xuehui accepts newspaper reporter when the interview said ,repurchase price reference factors generally include the current stock price ,earnings ,sales revenue ,investment projections ,and then set a premium .
Ge thinks ,Alibaba 13.5 HK dollar premium is high ,bank had predicted Alibaba 2012 target price of approximately HK $7, that is to say ,in the absence of privatization of the news, everybody thinks Alibaba the stock is worth the money .
Ge Xuehui thinks ,Alibaba and PCCW situation is different ,PCCW in 2000 the use of the technology bubble period listed, the highest price of HK $100 ,to privatization ago only HK $2 ,many shareholders in, cash in bank and cash equivalents of over $14000000000 ,privatization price only 14000000000 yuan .
In addition ,large shareholders to buy shares of some minority vote ,destroyed the market justice ,therefore ,Hongkong court verdict privatization failure .Ge Xuehui thinks ,profits for small investors is the best choice .
If privatization is not possible ,the double transmission .Alibaba has been expected for business development is affected by many unfavorable factors, such as the external environment is not good ,the stock price will rise considerably short time .
In February 22nd, Alibaba announced its 2011 Annual Report ,a lot of data is not conducive to Alibaba shares short period of growth .The paid membership in 2010 is about 809000 ,and about 765000 in 2011 ,down 5.
4%; Chinese gold suppliers decreased 18.4% ,international gold supplier drops 27.6% ,Chinese credit-pass member drops 2.8% .Operating income less cash ,was 3040000000 yuan about 2010 ,was 2180000000 yuan about 2011 ,28.
2% reduction ,deferred income and AR in 2010 is about 4430000000 yuan ,4420000000 yuan in 2011 ,fall 0.3% .Alibaba in the notice that describe the future environment: the major developed countries in the economic performance of dark ,weak global economy ,the economic crisis in the euro zone to highlight the United States signs of recovery ,fuzzy ,economic distress has also spread to other emerging markets and developing countries ,China is also unable to escape .
Post Privatization announcement after the first day of trading ,the stock opened February 23rd Alibaba rose 43% ,up 0.15% ,to $13.22 ,close to 13.5 Hong Kong dollars .It is believed Ma Yun playing a great game for privatization ,Alibaba announcement ,and anecdotal Yahoo! Stock purchase unrelated ,Alibaba Group has recently not to appear on the market plan .
But it is still considered Ma Yun in a great chess .Combing the Alibaba Group past development logic ,it is helpful to understand it in the future .Alibaba privatization ,the surface is a company in a strategic initiative to change, but the index of refraction is whole B2B industry transition pains -- in the global economic downturn ,the original B2B model to make snap transformation and reform ,to adapt to the new needs and development .
But 2008 accompanied by the outbreak of the global financial crisis ,Europe and the United States region economy suffered damage ,the eurozone debt crisis so far unresolved ,global consumer market is serious and atrophic ,manufacturing industry also the sharp contraction .
The whole B2B industry in this crisis had been affected, not only to reduce the number of customers ,sales and profits have declined .Alibaba ,HC ,global resources ,network and other encounter development bottleneck ,even the rookie Dunhuang last year also reported substantial layoffs ,facing the test of market .
Industry group transformation ,is the external environment and the entity economy change inevitable .Net CEO Guo Jiang also said ,B2B industry did not come to go into a cul-de-sac ,but needs to innovate ,need greater change and transition .
Although from the revenue or the service ,Alibaba has been in the industry to do the best, but the leader is not good when ,if not to upgrade, from simple membership model steering effect model ,the whole B2B industry will be more sad .
Some in the industry think ,Alibaba privatization ,emergency stop turn ,hold promise for the whole B2B industry waded a thorny road .After all, Alibaba has the world online B2B customer and user groups, if Alibaba can not make a transition to the B2B industry ,other participants will be bad news .
Begin from last year ,cheap china products,Alibaba B2B company continued in business model upgrade ,strategy is not only focused on the acquisition of new customers ,to enhance the user quality and authenticity ,increase buyer flow and improve the user experience ,promotion and service effect of hooks and a transaction based service ,to improve the supplier quality and enhance buyer experience .
At the completion of business mode after the upgrade ,pay for performance of the services and online transactions will be Alibaba future products and services in the development of a clear direction of development .
Privatization will make Alibaba group and its B2B business in the formulation of strategies, more consideration of the long-term development of the company ,and do not suffer from that expected by the market pressure ,such as listed companies must consider the expected revenue ,price fluctuation ,can accelerate the upgrade progress .
For repackaging listed as a whole ,Alibaba Group has been adhering to this expression: overall listing things over the years .Last year, Taobao Taobao ,Taobao Mall into the fair ,a Amoy net the occasion, Ma Yun to Alibaba staff letter calls Alibaba group does not rule out future possibilities in the overall listing .
Ge Xuehui thinks :whether overall listing or part of the resources reorganization ,Ma Yun is a good chess player ,after its assets to move after the Tang ,cash cow ,future assets ,to be policy clear three assets will be reasonable layout ,for the entire group stage ,strategy of development of convenient .
Overall listing can also solve the problem of funds to repurchase .The privatization ,Alibaba is expected to cost $ 19000000000 Hong Kong dollars .Alibaba announcement buy-back fund has two sources: one is the syndicated debt financing ,including the Australian Sheng Bank ,Credit Suisse ,Deutsche Bank ,DBS Bank Singapore Branch ,Hongkong and Shanghai Banking Corporation ,Mizuho Corporate Bank Hongkong branch to provide external debt financing ;the two is Alibaba group internal cash resources .
Ge Xuehui thinks ,the bank will not swap of debt to equity ,wholesale china directIn this case the husband to his wife lady Z A implementation of family violenc,therefore listed may also pay a path selection .In addition to the overall market ,Alibaba privatization and reorganization of Yahoo! Stock correlation also caused the outside guess .
Alibaba privatization announcement shows ,Alibaba is currently working with Yahoo! Will reorganization of Yahoo! Shares to negotiate ,negotiate may reach also may not reach an agreement with Yahoo! ,privatization is not the completion of the transaction as a prerequisite .
To this, Ge Xuehui thinks ,Yahoo! Is this round of equity restructuring privatization ,goes on the market the main purpose .He thinks ,Alibaba and Yahoo! B2B business synergy is not big, but to Ma Yun has been on the staff of the degree of attention ,should not be the B2B service and replacement of Yahoo .
Chicken Ma Yun is another kind of logic ,the chicken for meat ,is to raise chicken ,egg ,the egg hatched chickens ,life and growth in nature for the privatization of Alibaba ,Alibaba Group staff to Ma Yun in an open letter said: when the market be in harmony of $1700000000, but the privatization to spend $about 2000000000 ,seems to be a money-losing business ,have suggested a lower price to buy stocks .
Alibaba in the listing, in 2009 and 2010 two for a total of $2110000000 in dividends .For Ma Yun in the great game ,some in the industry think ,Ma Yun this has been at the forefront of China Internet leading enterprises, with the general entrepreneur has a kind of logic :the general entrepreneur do enterprises such as pig ,raised meat ;Ma Yun is another kind of logic ,the chicken is not a piece of meat, is to raise chicken ,egg ,the egg hatched chickens ,life and growth in nature .
This is Ma Yun and his Alibaba Group long-term standing wave top secret .On 2005, Ma Yun faced a strong external competition ,main rival is Google ,Baidu ,everyone was questioned Alibaba business gene ,gene technology is not suitable for weak ,information age the era of the Internet live .
But to everyone ,Ma Yun rely on commercial understanding do taobao .In 2012, taobao.com advertising revenue ,income of software as well as lynx ( micro-blog ) into total revenue will exceed baidu .
Alibaba Taobao is the hen first golden egg .Search engine Baidu to challenge many people, no success ;Ma Yun successfully challenged the Baidu search engine ,but not to .Ge Xuehui thought ,Ma Yun seeds for future business is for the lynx Jingdong ,is the payment of treasure ,is a clean ,Ali is the cloud computing .
Alibaba listing, with paying treasure ,logistics ( including investment and logistics information platform to build ) ,cloud computing ,Taobao union .Pay treasure ,Taobao, Alibaba alliance ,is the hen in addition two eggs .
In addition ,Alibaba five years also undertook a series of investment ,including network ,BES logistics company .But in 2011 ,Ma Yun again encountered severe external and internal challenges: one is the Alibaba group battle ,two from Jingdong ,who represented the B2C shock .
Jingdong battalion closed 2011 to achieve 30000000000 yuan ,and claimed that he will soon be 100000000000 yuan ,soon to become one with Taobao story .Familiar with Alibaba group told reporters ,the Alibaba privatization is undoubtedly the Alibaba group to build a larger platform for .
Alibaba privatization is beneficial to eventually get through the whole Alibaba Group has been hope that the establishment of e-commerce ecosystem ,and a penetrating from the consumer to the ends of the complete production enterprise ecological chain, there may be Alibaba Group ideal of the future business model .
Alibaba group chief of staff Ceng Ming also said ,the future of e-business is consumer driven C2B mode ,the traditional industry chain in every step gradually turned to the Internet ,the electronic commerce gradually forward the evolution process .
Only when we are using the Internet to each business link up, both on the Internet and in run up ,it is the industry truly usher in the great development of .To share: > ;quality reports, sharp point ,please see the sina science and technology in depth reading > ;related topics: Ali to privatization of listed companies > B2B topics ;reports :fund mind :Alibaba privatization in third human Alibaba B2B equity holders exercise 12000 shares option comment: who is Alibaba privatization bill ?The analysis says Alibaba B2B company private speculative disrelish Alibaba private listed company Ma Yun or first day micro-blog recommended sina science and technology official micro-blog > ;> ;more men Li never thought ,negative case away for nearly three months ,because the face of police is not easily reveal the slightest confusion ,finally will send in french .
October 6th, 21 PM, in Hefei City train station at the entrance ,in the field of wounding after the escape of Lee was on duty police captured ,makes the police ,Lee during an escape from the Internet ,also met a girl friend ,this is to Hefei with each other .
It is understood ,Lee is 20 years old this year ,the evening of July 22nd ,his home in Henan with friends drinking and singing ,because the words are not ,takes out the motorcycle lock will be friends hurt ,then escape to the field .
During this time ,Lee still finding opportunities the Internet through the network ,and met a famous live in Hefei female netizen ,the two sides then determined the relationship .National Day eve, Lee came to Hefei and date ,and the way in Hefei play for a few days .
Later ,Li prepares to go to other city ,so his girlfriend with him to the city of Hefei train station .In Lee ready to stop when ,suddenly saw a police on duty ,china wholesale goods,he immediately turned around ,afraid to face the police .
See Lee panic behavior ,police feel alert ,he went over and asked to produce their identity cards .Start Lee claimed to not carry the ID card ,the police urging ,he reluctantly to ID out .
After the ID information contrast ,police found that Li Mouzheng was a negative case suspect ,I think the past so long, should be all right .Lee sighed ,by police and taken to the police station .
Until Lee was arrested, his girlfriend did not know he was suspect .At present, the police are still further in this matter .( Sun Yapeng of reporter Li Meng ) to share: welcome to comment
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