Before the listing on the NYSE, Alibaba actively promoted the efforts of the IPO to extend to the broader field.
According to Hong Kong media quoted sources on August 18, Alibaba will announce today that it will cooperate with Guanghui Auto, the largest auto dealer group in China, to operate a used car trading platform to maximize the turnover of both parties before listing. Exposure rate. Market rumors that Guanghui Auto will be listed in Hong Kong in the fourth quarter of this year, the target fundraising may be expanded to 10 billion Hong Kong dollars.
Although Ali Films (01060.HK) just exposed financial audit issues last week, sparking concerns from the US Securities and Exchange Commission (SEC), Ali is still actively promoting the listing of the US.
Earlier, Bloomberg News said that the Ali film incident has not affected the Ali listing process, but some former US regulators believe that the US agencies may conduct additional deliberations on Ali and will require the company to properly disclose the incident.
Guanghui’s sources have previously revealed that Guanghui’s exclusive automotive e-commerce platform will be established. The company finally decided to cooperate with Ali, and the two sides made a profit share. They believed that this model is more than a “4S shop” that needs to invest more than 10 million yuan (including the sales of Sale, Spare part, after-sales service, survey and feedback). Etc.) is more advantageous. Guanghui Auto also said that the physical 4S store will complement the electronic platform. The business model is that the automakers invest in 4S stores of a certain automobile brand in different provincial capitals as the center, and then radiate to the “2S shop” in the outer zone. The division of labor is 4S shop responsible for vehicle maintenance; 2S shop is responsible for new car test drive, pickup and license plate installation.
Earlier reports said that Guanghui Auto intends to issue 15% of its shares in Hong Kong, raising funds of about 700 million US dollars; now the market situation has improved, there are news that its share is planned to increase to 25%, the amount of funds raised up to 10 billion Hong Kong dollars. Guanghui Auto has passed the listing hearing. The sponsors include CICC and Goldman Sachs. The world's largest private equity fund TPG Capital (Texas Pacific Group) is the main fund shareholder of Guanghui. According to its official website, Guanghui Auto Service Co., Ltd. is the number one passenger car dealer in China, the largest passenger car financing leasing provider in China and the largest used car dealer in car dealerships. Guanghui's parent company is Xinjiang Guanghui Group, which has its listed company Guanghui Energy (600256.SH). In 2002, Guanghui Group began to invest in the automotive industry. In 2006, Guanghui Automobile was established. Currently, it has nearly 500 sales and service points in more than 20 provinces and cities nationwide. In 2010-2013, the operating income was 43.3 billion, 58.8 billion, 72.6 billion yuan, and 84 billion yuan (RMB); in 2011, 2012 and 2013, the vehicle sales were 290,000, 380,000 and 546,300 units respectively.
At present, domestic automakers have rushed to take advantage of the trend of e-commerce platform sales. Geely Automobile, Jianghuai Automobile, Shanghai General Motors and other e-commerce platforms such as Taobao Tmall have been sold. Sun Xiaodong, vice president of Geely Group and general manager of Geely Automobile Sales Co., revealed earlier that Geely sold 4,700 vehicles online last year, the most among all automakers. In addition, SAIC also registered its own e-commerce platform to provide new car and auto finance services.