Alibaba Group
Sales excluding revenue from consolidated businesses grew 39 percent year-on-year.
In April, Alibaba bought a Chinese microchip maker Hangzhou C-SKY Microsystems to help bolster its cloud-based “internet of things” (IoT) business.
“The Hong Kong hub will be yet another milestone on our way to achieving our goal of 72-hour global delivery,” Cainiao President Wan Lin said.
The fundraising plan comes ahead of an expected stock market flotation, though Ant has neither set a timetable for IPO nor has it chosen any location for the same.
Chinese e-commerce firm Alibaba Group announced it will invest 100 billion yuan ($15.12 billion) over five years to build a global logistics network.
JD.com Inc (JD.O) has invested in Indonesian ride-hailing startup Go-Jek, people familiar with the matter told Reuters.
Most Read
