Crazy Ma Acquisition Accelerate The Expansion Of Financial Territory

Less than p last week, Ma completed the two single acquisitions of financial IT system and cultural media in personal form. The acquisition of Hang Seng electronics and China digital media cost nearly 10 billion yuan, but the leverage is complex.

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Since P 2014, Ma's personal name or Alibaba group's investment targets are CITIC twenty-first Century, High German navigation, TutorGroup, Tango, cultural China, Bai Cheng tourism network, Yintai business, Hang Seng electronics and China digital media. For this purpose, Ma and Ali spent a total of HK $12 billion 937 million, $1 billion 435 million, and 9 billion 835 million yuan.

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< p > news shows that Alibaba will be listed in the US stock market in September this year. This may be the largest IPO company in the US stock market financing. The industry's estimated financing is over US $15 billion and its market value exceeds US $120 billion.

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< p > IPO is generally considered to be the reason for the acceleration of M & A, what story does Ma Yun tell? In terms of the acquisition path, Alibaba is not only an electronic business, finance, O2O, logistics, cultural industry, mobile social networking, etc., but the territory of Ali is constantly expanding, which is just like an empire scene.

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< p > < strong > Alibaba acquisition accelerated < /strong > < /p >.

< p > IPO is generally considered to be the reason for Ma's acceleration.

In addition to the recent acquisition of Hang Seng group and RMB 6 billion 536 million yuan to buy 20% stake in China digital media, the total purchase of 3 billion 299 million yuan RMB by Alibaba was 5 in March this year, which spent more than 1 billion 800 million US dollars.

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< p > Alibaba group never lacks headlines, and personal comments on Ma Yun also seem to have only two extremes.

Starting from the creation of the 500 billion yuan scale monetary fund balance treasure, the fierce battle between finance and payment, Alibaba and traditional financial institutions gradually escalated, but on the other side, it continued to expand the Empire territory.

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< p > in the middle of March, it was paid by the central bank for the two-dimensional code. Now there is a new progress. According to Hu Xiaoming, vice president of Ali small and micro financial services group, Ali is currently working under the guidance of the central bank to formulate and improve the two-dimensional code payment standard.

At the same time, he also said that the central bank's attitude toward the two-dimensional code is supported, but we must first set the standard.

The central bank and the Ministry of industry and Commerce will consider this issue as a whole, but this standard will not be released too soon.

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< p > the dispute between the state-owned big bank and the balance treasure has also eased up. Peng Lei, a small and micro executive of ICBC and Ali, had previously made a good gesture, and the "spoiler" was gaining the right to speak, but this did not hinder the expansion of Alibaba group.

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After P failed to negotiate with the HKEx, the Alibaba announced the launch of the IPO process in March 16th this year. It also said it would submit the SEC document very soon.

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< p > on the same day when announcing the launching of IPO, the Hang Seng electronics company in Hangzhou announced the suspension of major events, and the focus shifted to Alibaba again.

Ali and Hang Seng have been ambiguous for a long time, and sudden suspension will further speculation.

Until April 2nd, Hang Seng Electronics announced again that Ma Yun's Zhejiang financial letter would be pfered to hang seng Electronics Group's Hang Seng group 100% in cash, and the total paction amount would be about 3 billion 299 million yuan.

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< p > after the completion of the paction, Zhejiang Rongxin will hold Hang Seng electronics 20.62% stake in Hang Seng group, and the shareholding structure of Rongxin also shows that Ma holds 99.13% of its shares, Xie Shihuang owns 0.86% of the shares, and Xie Shihuang is also one of the eighteen founders of Alibaba, and currently serves as vice president of Alibaba.

In fact, after the completion of the paction, Ma Yun will become the actual controller of Hang Seng electronics.

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Less than a week after the P became the actual controller of Hang Seng electronics, Ma Yun launched again. In the evening of April 8th, the China media announced the resumption of the two month suspension, and disclosed a new non-public offering plan. Hua number media intends to issue about 286 million shares to the specific object of Hangzhou Yunxi investment. The issue price is 22.8 yuan / share, and the total fund raised is 6 billion 536 million yuan.

After joining the stock market, Yunxi investment will hold 20% of China's number of media and become the second largest shareholder of the company.

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In addition to the above two single acquisitions, Alibaba acquired 5 single, 100 million US dollars in March of this year, the online education provider TutorGroup, 215 million dollars in the acquisition of Tango40% equity in mobile social networking software, 6 billion 240 million HK dollars to acquire 60% equity in cultural China, 20 million US dollars in the international tourism website Bai Cheng tourism network, 5 billion 370 million HK strategic investment Yintai business.

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< p > plus $1 billion 100 million in February, a wholly-owned acquisition of Gould navigation, a HK $1 billion 327 million in January, a 54.3% acquisition of CITIC twenty-first Century, and a $586 million stake in Sina micro-blog, HK $1 billion 857 million last year, Haier's Japanese logistics, 1 billion 180 million yuan acquisition of 51% shares of the Celestica fund, etc. Alibaba has rapidly allocated financial, O2O, cultural media and mobile social networking within a year.

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P > strong > disturbing marriage < /strong > < /p >

"P", "Hang Seng's traditional business, in the process of financial services to customers, it is possible to touch some data, but usually IT companies and institutions have commitments, can not be copied, pmitted, stored."

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"P >" since the end of March, the intention of Ali to buy Hang Seng electronics has become clearer. This single business has increasingly caused the financial institutions to feel uneasy. Alibaba has certainly entered the financial field in a high-profile way, but the fact that the acquisition of financial IT service providers has made traditional institutions begin to worry about their data security.

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< p > Hengsheng Electronics was founded in February 1995 and listed on the main board of the Shanghai Stock Exchange in 2003. It is a leading provider of financial software and network services.

The company's business scope includes securities, funds, futures, banks, trusts, insurance, financial management, communications and e-commerce.

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< p > according to its annual report published in 2012, Hang Seng electronics occupies 93%, 80%, 90% and 75% in the fund, securities, insurance and trust management fields respectively. The market share in the securities account system, the securities counter system, the bank financial management platform, the trust core business platform and the futures core system are 57%, 43%, 85%, 41%, 42%, respectively.

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Ma Yun, a Zhejiang holding company, has a 20.62% stake in Hang Seng electronics after buying 100% stake in Hengsheng Group with a total purchase of 3 billion 299 million yuan. It has become the largest shareholder in one fell swoop, and Ma Yun has become the real controller of Hang Seng electronics.

Industry commented that Ma Yun layout Hengsheng electronics, the main purpose is to prepare technology for big finance, big data and other aspects.

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< p > despite the repeated announcement by Hang Seng electronics and Zhejiang Rongxin, Hang Seng electronics only provides financial IT software to financial institutions. After the software is delivered, it is operated and managed by the customers themselves. The technology, maintenance and engineering personnel of the company and the company can not acquire and become more impossible to disclose the data of customers. The storage and property rights of financial data belong entirely to customer control and ownership.

But it seems hard to quell the challenge.

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"P", "Hang Seng's traditional business, in the process of financial services to customers, it is possible to touch some data, but usually IT companies and institutions have commitments, can not be copied, pmitted, stored."

Xu Minbo, vice president of listed financial IT service providers, said to the financial weekly newspaper reporter.

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< p > there is no need for financial institutions to worry about data security in the current environment. However, there must be more in-depth cooperation between Hengsheng and Ali cloud in the future. If we cooperate in the cloud computing area, business systems and data will be in the cloud, and this cloud is Ali, so that data will no longer be controlled by institutions. From this perspective, there may be some data risk in the future, but as long as it is cloud computing, there is risk, Xu Minbo said.

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Ding Peng, chairman of China quantitative investment society, told financial weekly reporters that financial institutions need not worry about data security. Hang Seng only sells software systems, while data are controlled by institutions. Hang Seng is not made by institutional data unless it has a backdoor, but it has touched the legal boundary. P

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< p > < strong > weird < a href= "//www.sjfzxm.com/news/index_c.asp > > financial technology < /a > /strong > /p >

< p > for more than 6 billion yuan of loans, there is no doubt about the source of Tmall's funds. For this reason, Gu Jianbing, director of public relations of Alibaba group, told the financial weekly newspaper reporter, "whether the loan is Tmall's own funds or by way of financial institutions, there is no disclosure obligation, but it can be affirmed that it is not a Tmall merchant's reserve, or Alipay's reserve fund."

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< p > Ma Yun Holdings Zhejiang's Rongxin acquisition Hang Seng group has a capital of 3 billion 299 million yuan. According to hang seng electronic bulletin, the acquisition fund is derived from 1 billion 700 million yuan of Zhejiang's own credit fund and no more than 1 billion 700 million yuan of bank loans.

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< p > < --EndFragment-- > > the shareholding structure of Zhejiang Rongxin shows that Ma holds 99.13% of Zhejiang's fusion letter and Xie Shihuang owns 0.86% of the shares.

In March 28th, Ma invested 1 billion 700 million yuan to add money to Zhejiang's financial letter. At the same time, it made loans to Ningbo bank Hangzhou branch and Minsheng Bank Hangzhou branch not more than 1 billion 700 million yuan, so as to complete the collection of acquisition funds.

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Unlike P's acquisition of Hang Seng electronics's unilateral investment of 1 billion 700 million yuan, Ma Yun has made very few contributions to the acquisition of Hua number media.

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< p > according to the fixed increase plan issued by China Digital Media in April 8th, the company intends to invest 286 million 671 thousand shares in non-public offering to Yunxi at a price of 22.8 yuan per share. The total amount of fund-raising will be 6 billion 536 million yuan. After joining the stock market, Yunxi will hold 20% of China's Media Holdings.

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< p > Yunxi investment general partner is Shi Yuzhu and Yun Huang investment. The limited partner is Xie Shihuang. The actual control is Shi Yuzhu and Ma Yun.

In fact, Yunxi investment and Yun Huang investment were established in the near future, Ma Yun did not go through the Ali group, which is similar to the acquisition of Hang Seng electronics Zhejiang fusion letter.

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< p > according to the detailed report on equity changes of Hua number media, in April 8th, Zhejiang Tmall and Xie Shihuang signed the loan agreement, providing Xie Shihuang with loans of not more than 6 billion 530 million yuan, with a loan term of 10 years and an annual compound interest rate of 8%.

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< p > Yunxi's investment in the acquisition of Hua number media costs 6 billion 536 million yuan, and according to the shareholding structure of Yunxi's investment, three shareholders are Shi Yuzhu, Yun Huang investment and Xie Shihuang. The shareholding ratio is 0.9943%, 0.0002% and 99.0055% respectively. Among them, Yun Huang's shareholders are ma Yun and Xie Shi Huang, and their shareholding ratios are 99% and 1% respectively.

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< p > according to the proportion of equity and Tmall's loan data projections, the 6 billion 536 million yuan acquisition, Shi Yuzhu invested about 65 million, Ma Yun personal investment less than 13 thousand, the rest of the funds are entirely responsible for Xie Shihuang.

But because of the partner system, Ma Yun, as a general partner, has the control power of the actual partnership and has the feeling of being empty handed.

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< p > the industry has another doubt about this huge purchase. Tmall has more than 6 billion yuan of loans to individuals. What is the source of Tmall's funds? What kind of loan does Tmall give to Xie Shihuang? Is it legal to invest? < /p >

< p > "I feel a bit suspicious. If Tmall sends a loan to Xie Shihuang, if Xie Shihuang is entrusted by the name of the company, it is feasible.

But corporate loans can not be used for investment, so Tmall is very smart about personal loans.

A stock bank investment bank said.

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< p > this person also said that according to the general principles of loans, Tmall did not have a financial licence and could not undertake loan business.

However, the legal profession also stated that the loan general rule did not restrict individual loans to enterprises, and Ali once again drilled the policy gap to complete a delicate paction.

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< p > for more than 6 billion yuan of loans, there is no doubt about the source of Tmall's funds. For this reason, Gu Jianbing, director of public relations of Alibaba group, told the financial weekly newspaper reporter, "whether the loan is Tmall's own funds or by way of financial institutions, there is no disclosure obligation, but it can be affirmed that it is not a Tmall merchant's reserve, or Alipay's reserve fund."

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< p > < strong > What does Ma Yun want to do < /strong > < /p >

< p > so far, more than 500 billion of the scale of the balance of treasure used is the system of the gold share certificate, and if Hang Seng joined, will he choose the Hang Seng system? Zhou Xiaoming, deputy general manager of Celestica fund, said, "there is no such consideration."

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< p > last night, technology media quoted an institutional investor in Ali as saying that Alibaba will be listed on the stock market in September.

If the listing is successful, Alibaba may be the largest IPO company in the US stock market, and the industry is likely to raise more than US $12 billion and its market value exceeds US $120 billion.

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Ma Yun, who was originally good at story telling foreign language teacher, didn't seem to be willing to take the lead in the Alibaba's ten years ago. The story of Alibaba's future is Ma Yun's wish to speak more clearly than that of P.

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< p > for Ali's investment ideas, Zhang Hongping, general manager of Ali capital, has indicated that Ali's investment ideas are divided into two parts: it is also a strong integration with ALI business. As long as it is beneficial to Ali, holding well or buying well, it can be discussed. Two, it is related to Alibaba's creation of an ecological circle and platform, emphasizing layout and symbiosis.

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< p > < < a href= "//www.sjfzxm.com/news/index_c.asp > > Alibaba > /a > in this year's acquisition path, its acquisition targets are mainly concentrated in the field of Finance and O2O.

After the completion of the control of the Celestica fund and the approval of the private bank pilot, and with its original business, the company has already made payments, banks, insurance, funds, small loans, and cooperation with the trust company.

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Before P's acquisition, Ali's most powerful business is B2B commerce, electricity supplier and payment platform. Besides these three, Ali has less layout in logistics, Internet finance, mobile social networking, cultural industry, tourism service, online media and game area.

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After the series of acquisitions since 2013, the Alibaba lineup has increased rookie logistics and daily logistics; Celestica fund, Hang Seng electronics, Sina micro-blog, Tango, TutorGroup, culture China, China number media, Gao de navigation and Bai Cheng tourism network, thus strengthening logistics, finance, mobile social networking, cultural industry and O2O Tourism services.

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After "P" > "a href=" //www.sjfzxm.com/news/index_c.asp "acquisition" /a "Hang Seng electronics, Ali wants to integrate its business with ALI financial cloud platform and expand its financial cloud strength, attracting more financial institutions to participate.

Xu Minbo introduced.

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< p > Gu Jianbing and Ali did not respond to how to integrate Hang Seng electronics business.

But Ding Peng believes that Hang Seng is an independent system, and it is difficult to integrate with Ali's financial cloud system. "Financial cloud can only do some external services such as website, Internet banking, mainly front-end, the back-end system of the organization is built or imported, Hengsheng has a part of the back-end system, but the integration of Ali and Hang Seng is still in the front end."

Ding Peng said.

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< p > so far, more than 500 billion of the scale of the balance of treasure used is the gold card stock system, and Hang Seng joined, will choose the Hang Seng system? Zhou Xiaoming, deputy general manager of Celestica fund, said, "there is no such consideration."

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< p > Xu Minbo responded in a simile: "if a building has been built, and it works well, will you tear it down and rebuild it again?" < /p >