Asian Equities Analyst, Logistics & Transport

Tracking Traffic

Focusing on Asian logistics, transportation, and travel companies

TRACKING TRAFFIC/Chinese Express: Volume Up Versus Weak Comp | Prices Down | Yunda Lags Group

Full Truck Alliance: Currently Less Than 'Full Loaded', but Issues Are Fully Fixable

ZTO Express Q1 Results Surprise: Despite Lower Pricing, Margins Up Y/Y | Mgmt Raises Volume Guidance

TRACKING TRAFFIC: Chinese Express / No Signs of a Sharp Recovery in Jan-Feb Data

ZTO Express Q4/2022 Results & Guidance:  Moderate Growth in '23, but Also Obstacles

Alibaba Takes CaiNiao Stake Up To 51%, CaiNiao Now Valued at US$20bn+; What's New, What's Not

Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Equity Capital Markets

Cainiao Smart Logistics Network / Equity Capital Markets

Cainiao Smart Logistics Network (1437124D HK)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/alibaba-group-holding-ltd" target="_blank" data-smartkarma-citation="entities:787:1" rel="noopener">Alibaba (ADR) (BABA US)</a>'s multi-faceted logistics unit <a href="https://www.smartkarma.com/entities/cainiao-smart-logistics-network-ltd" target="_blank" data-smartkarma-citation="entities:36859:1" rel="noopener">Cainiao Smart Logistics (1437124D HK)</a> may seek an IPO in Hong Kong before the end of 2023, according to media reports</li>
<li>In this piece we look at why CaiNiao is being spun off <em>now</em>, what the company actually does (and doesn't do), what its likely comps are, and more</li>
<li>CaiNiao is unique, but we can begin to understand its position and its valuation by comparing it to <a href="https://www.smartkarma.com/entities/jd-logistics" target="_blank" data-smartkarma-citation="entities:31500:1" rel="noopener">JD Logistics (2618 HK)</a> and <a href="https://www.smartkarma.com/entities/maanshan-dingtai-rare-a" target="_blank" data-smartkarma-citation="entities:4128:1" rel="noopener">S.F. Holding (002352 CH)</a>
</li>
</ul>



Alibaba (ADR) (BABA US)'s multi-faceted logistics unit Cainiao Smart Logistics (1437124D HK) may seek an IPO in Hong Kong before the end of 2023, according to media reports
In this piece we look at why CaiNiao is being spun off now, what the company actually does (and doesn't do), what its likely comps are, and more
CaiNiao is unique, but we can begin to understand its position and its valuation by comparing it to JD Logistics (2618 HK) and S.F. Holding (002352 CH)



TRACKING TRAFFIC/Alibaba Logistics Arm CaiNiao May Seek HK IPO Soon