translate arrow

Strike Aviation Group

Strike Aviation Group


Ai Logistics Network


Alibaba HONG KONG: May 24, 2016. In its annual report filing to the U.S. Securities & Exchange Commission (SEC), Alibaba Group Holding (AGH) has acknowledged the SEC is investigating whether the group has violated any U.S federal securities laws.

The holding company, based in Hong Kong and registered in the Cayman Islands, said the SEC has requested documents and information relating to the consolidation policies and practices of its Cainiao Network logistics subsidiary, as well as policies and practices applicable to related party transactions in general, and Alibaba’s reporting of operating data from its Singles Day that generated sales of US$14.3 billion in November 2015.

Cainiao Logistics received 467 million delivery orders during the 24-hour shopping period, more than 15 times its daily average and a 68 percent year-over-year increase from 2014. The company also generated more than 120 million e-waybills with delivery firms, customers and merchants.

“We are voluntarily disclosing this SEC request for information and cooperating with the SEC and, through our legal counsel, have been providing the SEC with requested documents and information,” said AGH in a statement. “The SEC advised us that the initiation of a request for information should not be construed as an indication by the SEC or its staff that any violation of the federal securities laws has occurred,” it added.

In the year ending March 31, 2016 AGH reported revenue of US$15.86 billion and net income of US$11.08 billion. China accounted for US$13.0 billion in revenue while international sales accrued revenue of US$1.18 billion. Cloud computing produced an additional US$468 million and ‘Others’ a further US$958 million in revenue.

CSAFE Global


- powered by Quickchilli.com -