Key Points
People visit the booth of Alibaba's logistics unit Cainiao at the 2021 China International Fair for Trade in Services (CIFTIS) in Beijing, China September 3, 2021..
SHANGHAI, Nov 14 (Reuters) - China's securities watchdog has asked Cainiao, the logistics arm of Alibaba Group (9988.HK), to submit additional information about its shareholders and operational structure as the unit seek to list in Hong Kong...
The China Securities Regulatory Commission (CSRC) also asked Cainiao to describe its business dependency on Alibaba, and provide details of spin-off plans by Alibaba's other businesses, according to a filing dated Nov. 10 which was reported by Chinese media on Tuesday...
Regarding shareholder structure, the CSRC asked why Alibaba and shareholder Shen Guojun held Cainiao stakes through several overseas platforms, and also requested details of some previous share transfer deals...
Cainiao was also asked if it complies with China's data security and personal data protection rules.. Regulators also focused on Cainiao's relationship with Alibaba, asking for information around business dependency, related transactions, and duplication in customers and suppliers...
